Dear Crypto Degen,
Today we're looking good on the XRP/BTC pair.
This weekly candle appears to be a flying doji star.
The bottom is in on the higher and lower timeframes (check below predictive indicator).
The clouds are still above the price but we have a blue sky once we pierce above it (check blue line).
Trend is still bullish (check green line).
Wish you all good trading succes.
Cheers,
The Crypto Weatherman
Today we're looking good on the XRP/BTC pair.
This weekly candle appears to be a flying doji star.
The bottom is in on the higher and lower timeframes (check below predictive indicator).
The clouds are still above the price but we have a blue sky once we pierce above it (check blue line).
Trend is still bullish (check green line).
Wish you all good trading succes.
Cheers,
The Crypto Weatherman
The dragonfly doji pattern doesn't occur frequently, but when it does it is a warning sign that the trend may change direction.
Following a price decline, the dragonfly doji shows that the sellers were present early in the period, but by the end of the session the buyers had pushed the price back to the open. This indicates increased buying pressure during a downtrend and could signal a price move higher.
The signal is confirmed if the candle following the dragonfly rises, closing above the close of the dragonfly. The stronger the rally on the day following the bullish dragonfly, the more reliable the reversal is.
Traders typically enter trades during or shortly after the confirmation candle completes. If entering long on a bullish reversal, a stop loss can be placed below the low of the dragonfly.