- Ripple ( XRPBTC ) hit a low on the 26-June and reached a peak by 1-July. On the retrace, a low was hit and maintained after the 3rd of July, this low was also higher than the one before, making this a higher low... Now we are seeing the bulls trying to move the price up.
- XRPBTC is now challenging EMA5 and EMA10. A break above these levels would turn its potential from to , and it looks like the day might end above EMA10 (0.00003495).
- We can notice increasing . This fact happening also on a weekend, which is a move to catch people off guard before a strong move.
- Finally we have on the and , both indicators, making this signal stronger...
Looking at all these signals, we can say that XRPBTC is showing signs that it wants to move up.
Even if these are the signals we are getting now, we prepare for all scenarios.
Look at the chart above and we've drawn multiple paths, we are open to the reality of these signals being invalidated and XRPBTC going lower.
If we were to open a trade based on the signals above, we either have a stop-loss, second entry or strategy to know how to act and what to do based on whatever happens, either up or down, not just prepare hoping that the price will go up.
Having a plan is always best, so study, prepare, get ready before you trade!
This is Alan Masters.