XRP BREAKS OUT OF 5 MONTH DESCENDING RESISTANCE + BACKTEST
XRP/BTC has been held down by this resistance line for months, we have recently just broken out of the range and back tested it as support. Both horizontal and descending support have confluence at 1800 sats.
I see a good long opportunity R/R 5.15
XRP is bullish on a number else of factors:
PARABOLIC SAR on the weekly has appeared reassuring bullish structure
BTC has topped at 69k (4.236 fib extension) and usually when btc tops xrp runs, happens every cycle
Weekly MACD crossing bullish
If you agree with my some of my thoughts please give me a follow!
Happy trading and remember to keep it simple!
I see a good long opportunity R/R 5.15
XRP is bullish on a number else of factors:
PARABOLIC SAR on the weekly has appeared reassuring bullish structure
BTC has topped at 69k (4.236 fib extension) and usually when btc tops xrp runs, happens every cycle
Weekly MACD crossing bullish
If you agree with my some of my thoughts please give me a follow!
Happy trading and remember to keep it simple!