CryptoKraze here
In this post I am going to cover technical analysis of Ripple for Mid term trade. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of Ripple.
Possibility on 1 Hour Chart
If you look at 1 hour chart, you will see Ripple has made a big impulsive move and now it has formed a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pulls back and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level now, so we have pull back done and next impulsive move is ready. I was waiting for this dip to get in another short trade.
- I have a buy entry at 0.00017500 with my profit target will be around 0.00024000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Have a look on my other Posts
$ZenBtc Technical Analysis | Triangle Breakout Expected from this support line
TenxPay Technical Analysis | Symmetrical Triangle about to breakout
If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis
Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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