Xrp monthly timeframe Notable!
Hello!
Looking at XRP/BTC on monthly you can see that the price has made a quite big base on the price. Xrp has been consolidating for a long time. Actually 2 years now! That is a long time in crypto. I'd say there is big holders here on these levels waiting.. Patiently..
-Notable is the possible head and shoulder pattern. I did put the blue arrows for thats target.
-Big volume indicates that the bottom is in.
-I made the 50 EMA (brown one) little bigger so we can see its importance and how the price has been respecting it. (Red arrows)
I think this one is preparing for a big move. Usually after this long consolidations there is pressure engorged and it must get out somehow. Will see. This is just speculation.
Check out my Monthly Ethereum analysis back in november 2020
When/if we see a break from the 50 EMA and the key level which i marked this can move really quickly 180% against bitcoin like we have seen Xrp do many times
I am starting to look possible longs for this one. With tight stop loss ofc
Always use stop losses or you will get your ass burned!
N.1 mistake traders do is not to use them
-Jebu
Looking at XRP/BTC on monthly you can see that the price has made a quite big base on the price. Xrp has been consolidating for a long time. Actually 2 years now! That is a long time in crypto. I'd say there is big holders here on these levels waiting.. Patiently..
-Notable is the possible head and shoulder pattern. I did put the blue arrows for thats target.
-Big volume indicates that the bottom is in.
-I made the 50 EMA (brown one) little bigger so we can see its importance and how the price has been respecting it. (Red arrows)
I think this one is preparing for a big move. Usually after this long consolidations there is pressure engorged and it must get out somehow. Will see. This is just speculation.
Check out my Monthly Ethereum analysis back in november 2020
When/if we see a break from the 50 EMA and the key level which i marked this can move really quickly 180% against bitcoin like we have seen Xrp do many times
I am starting to look possible longs for this one. With tight stop loss ofc
Always use stop losses or you will get your ass burned!
N.1 mistake traders do is not to use them
-Jebu
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