Technical crypto analysis based on breakout – xrp


BTC Review:


technical Observation:

BTC is currently trading with an increasing bearish momentum. Last week, BTC spiked massively to the lower side, breaking below the three Simple Moving Averages and is still way below them. As I said previously, while the price is contained below these three, I expect further surge to the lower side and may extend way beyond last year’s lowest low. On its way downwards, the key lines to check for include $6,599.80, $5,021.00 and $3,521.00. If these lines are broken, then the price will likely rally lower.

Trade signal.

sell BTC towards $6,590.82



Technical Observation

just as in BTC, Ether spiked lower, thereby breaking below the three Simple moving Averages (14, 52, 90), this is a sign that the price will continue to the lowerside. Thus, if you’re not already in a short position, I expect a momentum to the loweerside. I expect the price to break below this year’s lowest low $378.00 and could move lower. On its way to the lowerside, the key lines to look for include $524.45, $476.60 and 378.00. If these lines are clearly breached, then the price could head lower towards $200.00.

Trade Signal.

Short Ether towards 378.00



Technical Observation

XRP is currently trading with an increasing bearish bias. On friday last week, XRP lost significantly and could continue loosing this week. I’m waiting for a slight retracement to the upperside to pick a short position. With this short position, I’m basically eyeing a breakout below $0.5470 to pick another short position with an ideal take profit at $0.1234. Only a break above $0.6845, may trigger a long position with a take profit at $0.7395 or even higher. As it is, only short positions can be advised.

Trade Signal.

Sell XRP now towards $0.5470

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