XRPBTC 12% bounce? Not that sure ...
Actualizado
Hey,
This is my first public TA, but as I was reading the bullish news saying that XRP might experience a 12% bounce in March, I felt the need to share my view in order to know your opinion.
Green circles : 20MA crossing up 50 MA
Yellow circles : 50 MA crossing up 100 MA
Orange circles : 50 MA crossing up 100 MA
My conclusion is that a bullish cross of any MA doesn't mean that much. Maybe a small bounce and the a drop. Look at points 1, 2 , 3 .... At this point, is a drop coming?
Looking at daily RSI or stochastic, doesn't seem that bullish to me ...
Regarding the heavy resistance ahead, I believe that there is more chances that we drop than we bounce.
Please let me know what do you think about it?
Have a great day
This is my first public TA, but as I was reading the bullish news saying that XRP might experience a 12% bounce in March, I felt the need to share my view in order to know your opinion.
Green circles : 20MA crossing up 50 MA
Yellow circles : 50 MA crossing up 100 MA
Orange circles : 50 MA crossing up 100 MA
My conclusion is that a bullish cross of any MA doesn't mean that much. Maybe a small bounce and the a drop. Look at points 1, 2 , 3 .... At this point, is a drop coming?
Looking at daily RSI or stochastic, doesn't seem that bullish to me ...
Regarding the heavy resistance ahead, I believe that there is more chances that we drop than we bounce.
Please let me know what do you think about it?
Have a great day
Nota
Looking at the weekly Stochastic, it seems that we have reached the main resistance that had been pushing down XRP for more than 441 days.
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