mycotoxin

XRP - Failed Bump and Run ?

BITFINEX:XRPUSD   XRP / U.S. Dollar
1035 views
13
1035 6
Something is up with XRP as it should not break lower than
the green arrow line pointing upwards .
if it does not move upwards past .60 tomorrow I believe it can drop to the
.44 cent area but first a drop to .52
Comment: Also whats with the double 9 candles ? One is usually indicative of a move down ..but two ?

Comment:
Comment: XRP got a 9 and also a tweezer top candle formation. The 9 candle should be a shorterm move up. Target is around the .55 area then the downward movement will kick in again
Comment:
Comment: To pull of this move this next hourly candle will have to close as a green 1 and not a
red 1 .
A green 1 candle indicates a new count up has begun , But a red 1 indicates that
the drop continues.
Comment: Tweezer tops generally indicate a move upwards .. ,
Comment: ,....still counting down and continues to drop

Comment: XRP is undecided ..its targeting either .54 or .47 ...

Comment: definitely does appear to favor a move to .54 then most likely down again ,,,..Will have to see how this plays out.
Comment: XRP ..eyeing that .40 spot
good analysis so far. Any updates on our target?
Reply
do you think .55-.50 will act as strong resistance if we drop back down?
Reply
mycotoxin manjotsbajwa
@manjotsbajwa, XRP has bounced off the .50 a few times so its good support and will take a few attempts to get past it once it turns resistance ...
Reply
manjotsbajwa mycotoxin
@mycotoxin, Good point.Thanks for the picture. So basically you're predicting a slow descent to .42?
Reply
manjotsbajwa manjotsbajwa
*.44
Reply
mycotoxin manjotsbajwa
@manjotsbajwa, yes should be a slow drop , but if BTC breaks lower than 64xx this could change .
+1 Reply
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