We dropped the last support I had used, but see that we're making higher lows and lower highs- and that consolidation is suggesting there could be a breakout. One concern for me is that the daily stock is overbought- but the weekly stoch is strongly oversold. Should we break the red resistance pictured, we could see a solid bounce- which would be a mirror inverse image of what has occurred over the past month.
Additionally- looking at the order book on Bitstamp, there is nominal selling pressure- only 64k XRP between .489 and .80- incredible room for fast growth.
Additionally- looking at the order book on Bitstamp, there is nominal selling pressure- only 64k XRP between .489 and .80- incredible room for fast growth.
Comment:
Testing time. Right up against resistance. Daily stoch is oversold as is 4hr stoch & hourly. I'm thinking we'll potentially see a dip to the circle perhaps before breaking through the red line.
Comment:
If the next oversold stoch position is higher than the previous low, this is a certain confirmation. Encouraged at the boost it had breaking out of the first line of resistance.
