#XRP Volume Analysis Prediction 8/21/2018
Our last forecast was true again.
At the moment, almost all coins are sluggish.
The dominance of bitcoin has already reached 53% and it is not very good for all the crypto-currency market.
But, despite this trading opportunities are still exist.
Regarding the situation on XRP, we have 2 balances:
– First balance (#1 on the chart) is more important – it’s wide corridor with the range 0.2475-0.3740.
– Second balance (#2 on the chart) – intraday balance with the range 0.3150-0.3515.
If the indicated wide balance will be break out than a new mid-term up trend will start and the price the price will quickly reach 0.4300. But in the opposite direction this also works. If wide balance goes down – in this case the XRP price will fall more significantly.
Speaking about intraday balance – if this balance goes up, It will means bull pressure but you don’t need to open immediately long positions after break out, because of close 0.3740. Intraday – we have buy priority.
There only 2 places where we can put a buy limit orders: 0.3150 (aggressive, only intraday) and 0.2475 (conservative).
Also, if you have margin account you can open sell positions with the leverange. Good places for sell-limits: 0.3515 (aggressive, only intraday) and 0.3140 (after break down of intraday balance).
Remember: according to the trade rules in balance, it is necessary to trade only from the balance borders inside. If there is a breakdown or breakout of the balance, we trade in the direction of breakdown or breakout.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded .
- Value Area (V A) – The range of price levels in which a specified percentage of all was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance – Accumulation Area.
- F L – flat level.
- T L – trend level.
- Fixing (fix, culmination) – reverse price reaction then the markets stops i’ts movement for a short time. The trend stops when it passes through 1-3 fixing movement.