This week Bitcoin has reached the long-term support, that is 78.6% Fibonacci retracement level at $4387. At the same time it reached the bottom of the descending triangle, and almost tested the 200 Moving Average. Fibonacci, applied to the correctional wave up after breaking the uptrend trendline, is pointing on the $4050 level, that is a 161.8% retracement....
Ripple is at an all time high. The orange trendline at the bottom has provided tremendous support in the past. If it falls right now, it may find support at this line.
RSI is terribly over-bought. I do not believe it can sustain anything further and I see a dip at the moment.
There are couple of ways this trade can pan out -
A. If it falls it may find support @...
the stock looks interesting at current levels !1 need to watch daily and holds support at 880-885 levels ..but in short term look bearish ...if i need to say abt long term ..will like to buy only on my personal levels ...!!!!!
posting it because someone asked me to do so on twitter!!!!
let it come to the levels where it would be a favOur able risk reward as it is always better to not to take a trade then to take a wrong trade ...
i can be wrong!
As you see in the given chart -it appearing me to like an ELEPHANT is trying to getup with support of her Hinder legs by stretching her trunk up, Hence the MIGHTY Elephant - Since the Elephant will take time to get up once it sat/fell down, same goes with YESBANK.
Rest Mentioned in the charts
It's purely my view not an recommendation