XRP shows contradictory signals
On the stoch side, the indicator has a very low value, if we look on the past, it has been a buy signal any time for XRP on 1D.
We also reached the main support, which is also a classic buy signal. This could be the bottom of a huge bullish flag started in june 19 and finishing in March 20.
That could be a classical and logical trade scenario.
But one the other side, MACD signal is not on his best and space between EMA 50 and EMA 200 still growing. So the support could break and we could retrace a downtrend channel instead of a bull flag.
I'm for the first option, like 51% - 49%. On my last XTZ idea, we had alsmost exactly the same configuration and XTZ just made a bull run and even broken the resistence of bullish flash. We can imagine the same thing for XRP.
What do you think?
We also reached the main support, which is also a classic buy signal. This could be the bottom of a huge bullish flag started in june 19 and finishing in March 20.
That could be a classical and logical trade scenario.
But one the other side, MACD signal is not on his best and space between EMA 50 and EMA 200 still growing. So the support could break and we could retrace a downtrend channel instead of a bull flag.
I'm for the first option, like 51% - 49%. On my last XTZ idea, we had alsmost exactly the same configuration and XTZ just made a bull run and even broken the resistence of bullish flash. We can imagine the same thing for XRP.
What do you think?
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