This will be my first published idea on tradingview.
First we take a look on the 4 hours time scale.
You can see that i have made 2 , 1 big which shows that XRP/EUR is in a strong move and a smaller one within which shows a move.
Today we crossed the upper band support of the large . Most probably a retest will hapen to confirm if the suppport has become a resistance. If the resistance keeps up we will most definitly go further down, at least to the median which, projected in time will be around 0.28-0.30EUR, depending how fast it wil go.
Zooming in at the 1 hour time scale. We clearly see that XRP/EUR found support on the bottom of the smaller . What I believe will hapen is that consolidation will take place between the resistance of the large upper band and the support at the bottom of the smaller .
For me there are two options after the consolidation.
1. XRP breaks back into the uper band of the large where it will rise back to the upper side. +-0.43EUR
2. Resistance hold and we will go further down to the of the large . If this happens the smaller is broken and not valid anymore. 0.28-0.30EUR
For now i do nothing and watch what will hapen before doing a move.
Greetings from Belgium!
The last days the smaller pitchfork was broken and thus not valid anymore. We see a sharp decline and the median line of the main pitchfork acts really good as a resistance. If this median line does not hold we can expect xrp/eur to decline further to approx 0.20 eur.
The case the median line holds xrp/eur is expected to go back up towards aproxx 0.42eur.