Ripple (XRP) - January 2
Updated
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It is moving sideways at 0.23264-0.24623.
It is located near the middle of the interval between 0.14738-0.17407 and 0.28518-0.30296, and you should see the movement before and after the time indicated on the chart.
The wRSI_SR indicator is rising near the 50 point on a short-term uptrend.
Also, the CCI-RC index rose to near zero.
Accordingly, it seems to be located at an important fork.
If it is supported by breaking above the M-Signal line on the 1W chart, further uptrend is expected.
If not, I think it's better to approach only short-term trading.
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** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
-------------------------------------------------- -----
It is moving sideways at 0.23264-0.24623.
It is located near the middle of the interval between 0.14738-0.17407 and 0.28518-0.30296, and you should see the movement before and after the time indicated on the chart.
The wRSI_SR indicator is rising near the 50 point on a short-term uptrend.
Also, the CCI-RC index rose to near zero.
Accordingly, it seems to be located at an important fork.
If it is supported by breaking above the M-Signal line on the 1W chart, further uptrend is expected.
If not, I think it's better to approach only short-term trading.
-------------------------------------------------- -------------------------------------------
** All indicators are lagging indicators.
So, it's important to be aware that the indicator moves accordingly with the movement of price and volume.
Just for convenience, we are talking upside down for interpretation of the indicators.
** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.
Hence, the interpretation is the same as the conventional Stochastic RSI indicator. (K, D line -> R, S line)
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.)
GAP refers to the difference in prices that occurred when the stock market, CME, and BAKKT exchanges were closed because they do not trade 24 hours a day.
G1: Closed price
G2: Market price at the time of opening
(Example) Gap (G1-G2)
Note
(XRPUSD 1h chart)You should see movement around the date and time indicated on the chart.
You should watch for any movement that deviates from the 0.23264-0.24623 range.
You also need to check if you can climb along the newly formed ascent channel.
To say that it has turned into a basic uptrend, it must be above the M-Signal line on the 1W chart.
Also, it must rise above the MS-Signal line of the 1D chart.
(Upbit XRPKRW 1h chart)
You should watch for movements that deviate from the butterfly-shaped trend area.
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