Ripple XRP-BTC Trend Analysis
On december 12th Ripple (XRP-BTC) broke out a long term descending triangle, coming from 24200 satoshi in may 2017 to 1180 satoshi at the beginning of december. In the last weeks XRP has seen a strong ascending bullish trend, bringing good trade opportunities.
At the time of writing this analysis the price of Ripple is 11350 satoshi. For those interested in short or mid term trading XRP I have placed strategic entry points on the chart and resistance and support (Fibonacci) lines to keep your eye on for a break up or down. Please note the entry points, indicated by stars, might move over time if the actual trend deviates from my predicted trend. In that case you can use the (Fibonacci) resistance and support lines to determine a good entry or exit point based on breaks.
1st sell target: 12900 satoshi
2nd sell target: 13900 satoshi
3rd sell target: 20800 satoshi
4th sell target: 23900 satoshi
Stop loss: depending on time of entering. For short term trading put your stop loss within a reasonable margin below the current or next support line. For mid term trading put your stop loss 500 satoshi below the lower blue dashed trend line.
As always trade safe: monitor your trades and set (phone) alerts and stop loss orders.
I hope you can put my TA to good use. If you make a good profit based on my TA I will be very grateful if you tip me, thank you!
Bitcoin address: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum address: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
At the time of writing this analysis the price of Ripple is 11350 satoshi. For those interested in short or mid term trading XRP I have placed strategic entry points on the chart and resistance and support (Fibonacci) lines to keep your eye on for a break up or down. Please note the entry points, indicated by stars, might move over time if the actual trend deviates from my predicted trend. In that case you can use the (Fibonacci) resistance and support lines to determine a good entry or exit point based on breaks.
1st sell target: 12900 satoshi
2nd sell target: 13900 satoshi
3rd sell target: 20800 satoshi
4th sell target: 23900 satoshi
Stop loss: depending on time of entering. For short term trading put your stop loss within a reasonable margin below the current or next support line. For mid term trading put your stop loss 500 satoshi below the lower blue dashed trend line.
As always trade safe: monitor your trades and set (phone) alerts and stop loss orders.
I hope you can put my TA to good use. If you make a good profit based on my TA I will be very grateful if you tip me, thank you!
Bitcoin address: 13MJSpaqqpBm9JfqNUFt424CQZBF8TKHYa
Ethereum address: 0x105e37a11abfcfa80ab51c00bc6837f65183af64
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