There is a trading opportunity to buy in XRPBNBTechnical analysis:
. Ripple/BinanceCoin is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
. The the RSI downtrend is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.04270 to 0.03780). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.04270)
Ending of entry zone (0.03780)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.04840
TP2= @ 0.05270
TP3= @ 0.05700
TP4= @ 0.06100
TP5= @ 0.06970
TP6= @ 0.07820
TP7= Free
