It seems the asset class is sideway in 4 hours chart. I have created a Quantbox, based on the volume accumulation and distribution which is clearly showing that XRPUSD is trading between USDT1.4468 to USDT1.3412, and created a narrow channel of the range around USDT 0.1.
MFI has also got arrested into a box channel which is creating a coil channel movement.
Interestingly volume has decreased drastically in this chart.
The above observations bring these conclusions below...
New Volume addition is required for the movement of this crypto Asset to move either way.
Arrested Price must follow the arrested MFI at the time of Breakout or this asset will not get any direction.
interestingly RSI is in an indecisive situation expecting some help from MFI to inject some Beta to start moving.
Now, if the direction is uncertain, what is certain then! We can speak about the probability of profit. I am expecting at least USDT 0.1 multiplier movement in either direction for the short-term traders. Stoploss can be another side of the Quantbox.
So, trade safely...
MFI has also got arrested into a box channel which is creating a coil channel movement.
Interestingly volume has decreased drastically in this chart.
The above observations bring these conclusions below...
New Volume addition is required for the movement of this crypto Asset to move either way.
Arrested Price must follow the arrested MFI at the time of Breakout or this asset will not get any direction.
interestingly RSI is in an indecisive situation expecting some help from MFI to inject some Beta to start moving.
Now, if the direction is uncertain, what is certain then! We can speak about the probability of profit. I am expecting at least USDT 0.1 multiplier movement in either direction for the short-term traders. Stoploss can be another side of the Quantbox.
So, trade safely...
