Hello Traders!
Today’s chart update will be on XRPBTC that is putting in a probable higher low on the daily chart. This will increase the probabilities of a trend change, a confirmation will come to fruition when structural resistance is broken.
Points to consider,
- Trend change – Higher low
- 200 MA to break
- Stochastics neutral
- RSI coming of oversold
- Volume declining
XRPBTC is highly probable of putting in a trend change if this higher low holds; equilibrium is possible before an influx break.
The 200 MA is a key resistance level that XRPBTC needs to break, it has suppressed price successfully once broken. The stochastics is currently neutral; momentum is stored in both directions.
RSI has bounced of oversold conditions, must break its resistance which has rejected the RSI multiple times. Volume is clearly declining, signalling an influx of volume coming to fruition as the possible equilibrium forms out.
Overall, in my opinion, XRP is forming a potential equilibrium if it holds this higher low. An influx of volume will dictate the directions of the equilibrium break.
What are your thoughts?
Please leave a like and comment,
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
Today’s chart update will be on XRPBTC that is putting in a probable higher low on the daily chart. This will increase the probabilities of a trend change, a confirmation will come to fruition when structural resistance is broken.
Points to consider,
- Trend change – Higher low
- 200 MA to break
- Stochastics neutral
- RSI coming of oversold
- Volume declining
XRPBTC is highly probable of putting in a trend change if this higher low holds; equilibrium is possible before an influx break.
The 200 MA is a key resistance level that XRPBTC needs to break, it has suppressed price successfully once broken. The stochastics is currently neutral; momentum is stored in both directions.
RSI has bounced of oversold conditions, must break its resistance which has rejected the RSI multiple times. Volume is clearly declining, signalling an influx of volume coming to fruition as the possible equilibrium forms out.
Overall, in my opinion, XRP is forming a potential equilibrium if it holds this higher low. An influx of volume will dictate the directions of the equilibrium break.
What are your thoughts?
Please leave a like and comment,
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone