Currently XRPBTC pair is showing some support on the 2250-2300 sats levels. This is proven to be a support previously and is continuing now. However, on the short term, we could see another drop off the test the support zone market with the rectangular. As this zone is less tested and we need to confirm it as a support too. Additionally, this would be a finishing move from the crash structure perspective and we could be looking to a move to the upside. As the MACD indicator is showing signs of a bottom, and the volume is steadily decreasing for the last few days this well may be a turning point in the cycle. Will keep an eye on the indicator and update this idea accordingly.
Comment:
Was expecting a sharper move to the downside, but in retrospect, a slow bleed makes more sense. Continuing down to the support circle and looking for a move up.
Comment:
There we have it the final wave down. This completes the crashing structure, and I believe we could see some move to the upside. The support zone held the price, and we found the bottom at around 1800 sats.