XRPUSD LONG - Ripple: a short-term to mid-term idea
Atualizado
Ripple is at a good point to go long in the short-term and mid-term perspective with some nice quality targets in reach. For longer-term strategies there may still be time with it going lower as I project an ATH won't come for another few years as this bear-market is a fairly contemporary theme right now.
Right now it appears there will be a trading-zone as high-lighted in blue, similar to previous pre-exponential growth past performances in which a final breach of the R1 resistance will lead to sharp gains.
This is perfect for swing traders and/or day-traders. There is also strong mid-term support in the green box which if breached, invalidates my idea and I would recommend a short.
It appears we still have significant down-trend resistance in the weekly/monthly time-frame so a new ATH will be off the books until further confirmation.
LARGER SCALE IMAGE: https://i.postimg.cc/6pP2hKY6/XRPUSD-2022-08-01-15-27-05.png Note volume which has been accumulating since the dump with no action. This is important as anyone familiar with crypto knows that explosive movement occurs after squeezes and quiet periods of consolidation.
Please give me a follow and thumbs up if you like this idea as I am thinking of doing more of these and any support will help my journey.
Thanks and good luck
Raimondoz.
Right now it appears there will be a trading-zone as high-lighted in blue, similar to previous pre-exponential growth past performances in which a final breach of the R1 resistance will lead to sharp gains.
This is perfect for swing traders and/or day-traders. There is also strong mid-term support in the green box which if breached, invalidates my idea and I would recommend a short.
It appears we still have significant down-trend resistance in the weekly/monthly time-frame so a new ATH will be off the books until further confirmation.
LARGER SCALE IMAGE: https://i.postimg.cc/6pP2hKY6/XRPUSD-2022-08-01-15-27-05.png Note volume which has been accumulating since the dump with no action. This is important as anyone familiar with crypto knows that explosive movement occurs after squeezes and quiet periods of consolidation.
Please give me a follow and thumbs up if you like this idea as I am thinking of doing more of these and any support will help my journey.
Thanks and good luck
Raimondoz.
Nota
GREEN WORDS represent bullish pressuresRED WORDS represent bearish pressures
Nota
The main contention of this published idea is that volume is closing and narrowing in. This presents a range of explosive/volatility opportunities, both long and short in the near future for ripple/usdt. My long term view is always long on crypto with the bottom not decided yet.
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