My TA revolves solely around , Fib Levls and 3 moving averages and price action itself.
I use the 4HR chart as my go to chart and typically make all my decisions from this chart if what i'm seeing is supported by quickly glancing at others.
We are clearly testing a my 1st reversal zone on the chart. I feel that price action the charts are telling me we are going to see possibly see another move to test yesterday's lows and quite possible get a move lower to the zone area i added today.
If we can see a 4HR close below .00009500 into the zone or possible below zone, i certainly think we'll see price move to .00008000 - .00007500 on XRP and here is why. If .00009500 (top of zone holds), i'll need to see price on the 45,30, and 15mins charts move above the slow moving average to convince me we are ready to see upward price action.
Over the past week or so, we've seen price pull back and clearly cross the 200EMA on all charts, but the daily at this point. This from a TA perspective is helping to facilitate this move down in my opinion.
If you look at 4HR chart at present all the way down to the 15min, we have massive separation between the slow moving averages and the 200EMA. Also, we are seeing the slower moving averages holding as resistance to price moving back up on all those charts as well. We're just not above to get a break above these slower MAs. and then have it hold price.
I'll post a few charts in just a minute.
2HR - More of the same
From what i'm seeing, i believe we've seen most of the downside we're going to see on XRP. While we will still as always move higher and pull back to test support level, i do believe that we will not see any significant moves down like the past few days.
4HR and 3HR charts - price is back above 200EMA; we've gotten candle closes above the support zone drawn and if we can continue to see closes above .00012500 or even get one on a 4HR above .00013500, i believe we'll continue to see upside.
2HR - Price is just above 200EMA and showing positive moving toward .00013500, if we can get that close above this level that will help push that to higher times as well.
1Hr and lower - price is back up above the 200EMA as well, which overall puts a bullish take on price across all time frames and supports continued upside.
I hope to continue to see price stay above the slower moving averages with it acting as support as we start the climb back up. I think we will see limited downside movement other than to test previous resistance points as they turn into support levels.
Overall, i expect to keep seeing price action move in a bullish direction.
We are above the 200EMA on all timeframes with growing separation between MAs. Price maintaining closes above the slow moving average is what we want to continue seeing.
What i'm seeing right now is that price action is above the 200EMA on all time frame and sitting within a support zone range of .00013500 - .0001300. Looking for a break to the upside of this zone on a 3HR or 4HR to confirm price action moving higher.
Key items to watch is the price action and 200EMA on the 45min, 1HR, and 2HR, as price is riding just above. Looking for it to hold as support to propel price up and out of the current zone. A move on lower timeframe up should result in slower moving MA crossovers on the 45 and lower.
I'll be checking again in the morning and stepping away from the charts for the day.
I expect to see a slight up retest of the the .00012000-.00012500 area, but overall i'm anticipating a break again of the 200EMA on the 4HR and to see a move down to .00011000 - .00010500 area potentially. Making LH and LLs on 4HR
For me to really believe we are back fully bullish, i would need to see a daily close above .00014000 .00014300 range.
At present, we've consolidated into about a 400 satoshi range for the day. I believe we'll see a break of this area to the downside to test support around the .00011000 area, possibly lower if we can break there.
I'll be watching as the day goes on and the Asian markets wake.
Overall still bullish and if we get to the .00011000 or lower areas, i will look to add to my current position, as i'm still very bullish overall on XRP.
As you can see on the 3HR, we tested the 200EMA, but were not able to sustain a break of this level and starting to trend back down.
If you follow twitter and other social media, i believe this run up was due to some news about a potential partnership between Visa and Ripple on instant trade finance in 2018. A few post on Instagram highlighted a link, but it was not a full link to Visa's website, so i haven't been able to track down the actual article on Visa or anywhere else. I'll keep looking.
As of this writing, we are seeing nice 4HR bearish candle forming on the 4HR, which is set to close in an hour. I"ll be watching to see if we close below the highlighted zone i've drawn in. A close below will surely test the 200EAM and .00011500 area... again.
Price has moved back below the 200 on 45, 30, and 15mins charts, the question is whether it will stay there for the time being as we've seen it above and below over the past few days.
On 1HR, we are seeing a test of the 200EMA and a good rejecting to the downside at the moment.
2HR - Seeing a move away and the slower MA's starting to cross.
3HR - we are again seeing rejection from the 200EMA
4HR - As mentioned, waiting on current candle to close, but looks like we are breaking out of the highlighted zone and a support level at .00012500. I expect to see a test of the 200EMA and if price continues to be rejected on lower time frames, i could see move back toward .00011000. I think it would be tough to break that level given Ripple released it's Q4 Report today; so depending how that is taken could impact price.
i'm still very bullish long term on XRP, but in order to considering this correction over, i would need to see a break of around the .00013000-.00013500 on a daily and price to be above 200EMA on all charts