XRP has made a double bottom on the one day chart on large support. It is a very small double bottom but is there none the less.
If it price breaks down past the support (yellow horizontal line) my next stop for XRP is projected to the yellow box. That is my projected final price area for XRP. It is an automatic buy if it reaches that price. It can break down a little more from there but not enough for me to continue to short.
On the 1 hour chart to the right I see three bounces off the large support and hoping the price can find support on Fib supports from here. I will need it to break out of the yellow triangle and close above the red resistance before I buy into it.
First target will only be to 8200. We will need to ensure it does not use the EMA80 on the day chart as resistance (white ema)
If it price breaks down past the support (yellow horizontal line) my next stop for XRP is projected to the yellow box. That is my projected final price area for XRP. It is an automatic buy if it reaches that price. It can break down a little more from there but not enough for me to continue to short.
On the 1 hour chart to the right I see three bounces off the large support and hoping the price can find support on Fib supports from here. I will need it to break out of the yellow triangle and close above the red resistance before I buy into it.
First target will only be to 8200. We will need to ensure it does not use the EMA80 on the day chart as resistance (white ema)
Comment:
Price has broken under support then. The retest tried and failed. The current analysis says we will continue to the yellow box
Comment:
Price made a surprising move and jumped back over support and broke through the descending triangle. Currently trying to break through the 200 MA. Personally I think it will be a failed effort while BTC continues to fall
Price made a surprising move and jumped back over support and broke through the descending triangle. Currently trying to break through the 200 MA. Personally I think it will be a failed effort while BTC continues to fall
Comment:
I sure was right. It was a failed effort. Price has retested the yellow support and failed again. Price is continuing to fall to my target
Trade closed: target reached:
took a couple detours but target was reached