- The XRP / USD swells with a lot of force, even without a tendency, and is preparing to turn its neck to the sky.
- The ETH / USD regains pace and has more upside space.
- The BTC / USD acts as an anchor and follows the movement from a distance.
This is the third day of openly positive behavior in the Crypto market. Today the initiative continues to be driven by the Ripple Lab currency, XRP. Its evolution against Dollar, Bitcoin and Ethereum brings us back to the end of 2017, when these percentages were daily.
After many months of falling prices, most of the market is cautious because it is not convinced that this is the right upward movement. So, you have to give time to the market as a whole. Really? From the point of view of a technical analyst, yes. From a trader's point of view, today we are already late if we want to enter a low-risk position.
Exchanging means taking controlled risks whenever, as I said last Friday, a window of opportunity opens up.
The greatest difficulty of this market has always been and still is, the radical changes that occur in the daily range. When Bitcoin, Ethereum, Ripple start the engines, they move so quickly away from the "reasonable" stopping points that, when they want to open a position, the vertigo is evident against the risk of hiring. This is a market that requires a large dose of stress tolerance and risk management, but that rewards those who know how to handle it correctly.
Today I'm going to address the topic of voices to see what opportunity points appear.
BTC / USD 240 min.
The BTC / USD at 240 Min is currently trading at $ 6.412 Price level. The risk level in the event of a bullish entry is in this temporary interval of one hundredth of a row $ 6,388.53. Therefore, in an investment of 1 Bitcoin, the risk to be taken is around $ 24.
Above the current price the route appears clear enough until the first resistance a $ 6.492 (resistance to price congestion). The next resistance is a bit above, a $ 6.564 and where I think the price could stop waiting for the moving average crossovers that will occur in the coming days. If the resulting cross is favorable to the uptrend, a price jump a $ 6,760 it is very likely
Under the current price, the "Stop" level mentioned in the previous paragraph, a $ 6.564, is of utmost importance A loss of this price level in the short term would cancel the bullish scenario and would probably be fatal for the medium-term price, with possible visits to annual lows.
The 240-Min MACD is in an ideal position for a second upward movement, with a good inclination and the start of a new phase of opening between the lines.
The 240 min DMI shows us how the bulls want to get back above the ADX line, which would be very good for the price. Bears are forcibly removed, so that they can cause a slight correction to standardize the deviation.
Do you want to know more about my technical configuration?
XRP / USD 1-D.
The XRP / USD is currently trading at $ 0.546 price level, which was reached today after a 12 percent jump. At this price level there is resistance that can be used by the XRP / USD to consolidate the gains made during the Asian session. In the case of XRP / USD, the level of risk is a sensitive issue. The valid level is lower than the price level of $ 0.448, which represents 12 percent compared to the current price. This is a big risk.
Above the current price, many resistors challenge Ripple's wave $ 0.582, $ 0.60, $ 0.63, $ 0.66, $ 0.68 is $ 0.70. The first technical objective must be greater than the maximum relative to $ 0.77. From this price, it is difficult to make predictions. The logical thing is to think of new highs, which would lead us on $ 3.50. Since we are accustomed to XRP, it is very likely that in case of activation of the "rocket" mode, all the resistances are punctured like a butter by a hot knife.
Under the current price, first level of support at the price level of $ 0.55 (support for price congestion and SMA200). If this support fails, we will quarantine the bullish moment. The next support is a $ 0.454 (EMA50). As a maximum limit, there is a third level of support a $ 0.439 (long-term bearish trend line). Losing this level would force us to liquidate all positions in the XRP / USD.
@FXSCrypto and our Telegram channel of Trading Crypto FXStreet
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