Art_of_Trading

RIPPLE Analyses - New Support Formed

BITFINEX:XRPUSD   瑞波币/美元
The Ripple moves are very correlated to BTC             price actions. If we compare H1 charts, we see that they make the same moves in the last few hours. The price hit the previous structure low at 0.7455 area and bounced back. It formed a support level and now the Ripple price now moves in sideways, because it was unable to break the previous low to continue down trending. It is expected that the price will move between those two areas for some. I will await the valid breakout and then open a position.

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Where is the valid breakout point?
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@yakumak, if the majority of a strong candlestick bar closes outside of the support or resistance, it is usually considered a valid breakout.
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