Bitcoin' made a small bear trap and just pushed up with alts making similar moves. XRP is still moving inside of this channel (possible bull flag). If it breaks that channel and actually even that red resistance around 0.465, we could see another wave up towards the 0.6 again. Anything inside the channel is still high risk, below the red zone is a bit risky.
Nota
It looks like it wants to break up, but Bitcoin is still moving sideways and is still not taking a clear direction. If XRP breaks this resistance, we need to see the buy volume increase, if the break out happens with low volume, the attempt will fail sooner or later. If we see volume, the chances for 0.6ish will be much higherNota
Still below that red resistance zone AND still low volume. So we might see a retest of the flag trend line again. So the bulls are a bit in favor, but the volume has to kick in at some point to make this rally a succes.The 0.46ish looks like a solid support level, best case it stays above that level. Bitcoin is also having some resistance now, so without Bitcoin moving slowly up again, it will be very difficult for the alt coins to move up of course. So the whole market is at a turning point now.
Nota
Bulls made another attempt but volume did not follow, here we see WHY i keep saying volume is very important. If the price stays above the blue zone, it could still work out as a pullback. If we drop too much from, it will become a failed breakout attempt which could lead to a countermove downwards. Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.