Hello Steemers!
Saw some articles about Ripple lately so decided to do a chart on it.
XRP/BTC Poloniex - 1 day chart clean
XRP/BTC Poloniex - 1 week chart clean
Clean charts for start as usual to get a view of the overall situation.
XRP/BTC Poloniex - 1 day chart highs and lows marked
XRP/BTC Poloniex - 1 week chart highs and lows marked
Marked previous highs and lows on the daily chart, again a huge mess, but will clean it up again.
XRP/BTC Poloniex - 1 day chart highs and lows marked + fib
XRP/BTC Poloniex - 1 week chart highs and lows marked + fib
Like usual, i pulled a fib to give me some clearer view and help me clean the chart up a bit.
XRP/BTC Poloniex - 1 day chart cleaned
XRP/BTC Poloniex - 1 week chart cleaned
We can see how the price started a pullback after the big pump, starting of with very hard and volatile dumps gradually decreasing volatility as the price was coming down, now being in a situation of low volatility.
It made its way using some of the support lines as bounce points and making new resistance line out of them later.
The volume started picking up lately and there was already a higher low made on the weekly scale, with the price now being on the line of making a new higher low or going towards a full pullback
XRP/BTC Poloniex - 1 week chart cleaned + triangles
2 possible triangles I spotted, the blue one being at its end meaning some greater move is possible either upwards or downwards to determine the direction of the upcoming times.
COMMENT
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!
If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
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DISCLAIMER
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.
Kind regards, OZ :)