Hey everyone. We got some volatile price action awaiting on XRP/USD pair! I can make things very technical with a lot of mess in the charts, but I don't like that!
I try to keep charts simple so that ANYBODY can understand it!
Some technical facts:
*Monthly*
Xrp closed the month at 0.257$ - and it closed below crucial monthly supply/demand level - 0.259$.
That opens door for 0.199 - 0.193 and if we're to go there, we should do it THIS month. I say that based on how markets react to broken supply zones. Unless we close October above 0.305 ------> 0.192 is next of what I see. ((Take into consideration that markets might lag and not fulfill all levels of how they usually do ///November and December is not out of play as long as we don't close above 0.305 on MOTNHLY))
*Weekly*
Weekly closed below crucial supply zone also. BUT we are in the biggest and widest weekly supply's! That's a roughly range between 0.325 - 0.225. I expect coming weeks and month to be EXTREMELY volatile! If you trade, make sure you're on the right side. If you're not comfortable, just leave trading alone and preserve your capital!
Now my personal target in the following week or two is 0.323. I know it sounds too far off but technically possible based on this wide range supply.
*Daily* Now let's get back to the Earth :) Not gonna mention same story what was broken, etc. You get the idea. Also pay attention of how well 0.246 held. For the time being I'm focusing on 0.2792$. This is very likely target looking at D.SUPP range.
To conclude it all - Expect HIGH volatility, make sure you to take profits - with that much volatility - better entry might present itself just around the corner. I expect slow build up towards that 0.32-0.325. My target for short term now is 0.2793 might adjust it once we get there. REMEMBER If October closes above 0.305 as I said, then it's a game charger. If not - 0.192 is still valid.
One more thing! Keep in mind I adjust my daily and weekly views depending on their closes! It can be invalidated along the way!
Hope you like it! Please leave a like if you got something useful from this idea and I'm open to discuss smart arguments and ideas in the comments below! This is not a financial advise!
xena.exchange/
I try to keep charts simple so that ANYBODY can understand it!
Some technical facts:
*Monthly*
Xrp closed the month at 0.257$ - and it closed below crucial monthly supply/demand level - 0.259$.
That opens door for 0.199 - 0.193 and if we're to go there, we should do it THIS month. I say that based on how markets react to broken supply zones. Unless we close October above 0.305 ------> 0.192 is next of what I see. ((Take into consideration that markets might lag and not fulfill all levels of how they usually do ///November and December is not out of play as long as we don't close above 0.305 on MOTNHLY))
*Weekly*
Weekly closed below crucial supply zone also. BUT we are in the biggest and widest weekly supply's! That's a roughly range between 0.325 - 0.225. I expect coming weeks and month to be EXTREMELY volatile! If you trade, make sure you're on the right side. If you're not comfortable, just leave trading alone and preserve your capital!
Now my personal target in the following week or two is 0.323. I know it sounds too far off but technically possible based on this wide range supply.
*Daily* Now let's get back to the Earth :) Not gonna mention same story what was broken, etc. You get the idea. Also pay attention of how well 0.246 held. For the time being I'm focusing on 0.2792$. This is very likely target looking at D.SUPP range.
To conclude it all - Expect HIGH volatility, make sure you to take profits - with that much volatility - better entry might present itself just around the corner. I expect slow build up towards that 0.32-0.325. My target for short term now is 0.2793 might adjust it once we get there. REMEMBER If October closes above 0.305 as I said, then it's a game charger. If not - 0.192 is still valid.
One more thing! Keep in mind I adjust my daily and weekly views depending on their closes! It can be invalidated along the way!
Hope you like it! Please leave a like if you got something useful from this idea and I'm open to discuss smart arguments and ideas in the comments below! This is not a financial advise!
xena.exchange/
0.323$ is now the target, although I might make another update once we are there. There's a possibility that we might go towards - 0.35$ to shake a lot of people out and finally move lower - 0.192-0.1992$. All depends on how we close this month. Until next time!