XRPBTC could reverse but technicals say "NO"

I wish xrpbtc reverse from this point at it is has retraced 0.786 fib level with 100 weekly MA hovering just below it. But it is below long term daily averages and MACD is not showing any signs of reversal yet. Downwave is most probable. Signs of reversal could be if btc starts correcting itself from current price (7700 levels) and xrpbtc starts raising. If the current level holds expect a 40 to 50% gain towards 50 weekly MA from the current levels.


The main concern is it is oversold in daily but MACD is still pulling it downwards. Strong buy level at the purple line as it has 200 weekly moving average and has multiple horizontal supports. It is a must buy level there.

Happy trading :)