petro90

XRP. I expect a test of $ 0.305-0.315

BITFINEX:XRPUSD   XRP / U.S. Dollar
In the previous idea, I was expecting the end of the fall in the price zone of 0.27-0.28 $. The price did not reach my goal (local minimum was $ 0.285) and buyers beat the top trend line of the wedge . If we analyze volumes on which buyers beat the upper trend line then they were raised. However, were they reversible volumes, after which you can say with certainty that the trend has changed?
Let's analyze the volumes on November 25th. They were twice as large as the present volumes:
But even with such volumes, the market did not turn. It was a correction. Now the price is near the price zone, which has been trading on large volumes since November 25, and I'm not sure that buyers will be able to go above $ 0.35-0.36.
If we analyze the margin positions of sellers, then in their growth their positions were actively closed:
Sellers closed their positions with a loss and helped raise the price.
Between the price of 0.31 and 0.34 there is practically no liquidity, so the price so easily crossed this distance. However, it is also easy to fly back and forth.
On wave analysis, I expected a longer consolidation in the wedge and a minimum target of 0.38-0.39 $. However, it is possible that the current growth is the last wave of correction and the price zone 0.35-0.36 coincides with two levels of the Fibonacci, which are constructed from the low wave 5:
In order to understand whether the falling on this coin will continue, I am expecting a test of $ 0.305-0.315. If buyers keep this price zone, i can consider the growth scenario.
Otherwise, sellers will test $ 0.278:
Very nice. Keep at it!
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nice one

cheers
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