XRP/BTC 1D chart support zone, last chance before more downfall?

XRP/BTC 1D chart support zone, last chance before more downfall?

Hi,

In favor of long setup due to several signals even though due to market unpredictability (mainly BTC/USD reacting to stock market/ oil prices / covid cases etc. which are all further interrelated with one another):

1. Visible bullish divergence on RSI , one that spans across a long period on the daily chart
2. At the lower support line of a Falling Bullish Wedge
3. At the support line of the immediate previous months bottom and bounce back areas – multiple times tested
4. Within a larger (more transparent green color) support zone from XRP/BTC first days tested several times in previous cycles.
5. MAs are starting to flatten and perhaps look up but I wouldn’t count this is a formidable buy sign.

This the first 4 points above point to a hope that XRP/BTC can regain some levels and take a breather.

If it doesn’t work out, next stop would be the 2100sats area which is the bottom support of point 4 (larger support zone ). If it doesn’t hold then, you know, fuck knows.

Stay safe.

Published at Tue, 24 Mar 2020 06:56:32 +0000

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