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A quick lesson on channels: Statistically speaking (80-90%), price will pursue the median line one last time before exiting the channel, and it's never a perfect touch, most often it's sloppy and can pierce right through, but then it will find the support and move higher, and then out of the channel. For some reason, it seems almost mandatory! That said, there are percentages that exist, which it never does "tag" it that last time, and move out of the channel...an anomaly! Again, the market decides, and will decide in this case as well.
I left you some targets on the chart to consider for yourself, as to: Are they important? How will they impact the price moving forward? etc.
Also note, the Fib Time Zones. These are my personal settings, and thus far, they are proving to have value! The last zone ends November 30th, which it may not be exact date, but rather, a time period to watch...it could be the following week! And, what we do not know is, will it "tag" the median line, or break out of the channel. We simply do not know the significance of that time zone at this point.
Know this, I am bullish on XRP's price, but I've been trained to pin point confirmation or the lack thereof, which is why, I will always offer the risk at hand!
Cheers!
A quick lesson on channels: Statistically speaking (80-90%), price will pursue the median line one last time before exiting the channel, and it's never a perfect touch, most often it's sloppy and can pierce right through, but then it will find the support and move higher, and then out of the channel. For some reason, it seems almost mandatory! That said, there are percentages that exist, which it never does "tag" it that last time, and move out of the channel...an anomaly! Again, the market decides, and will decide in this case as well.
I left you some targets on the chart to consider for yourself, as to: Are they important? How will they impact the price moving forward? etc.
Also note, the Fib Time Zones. These are my personal settings, and thus far, they are proving to have value! The last zone ends November 30th, which it may not be exact date, but rather, a time period to watch...it could be the following week! And, what we do not know is, will it "tag" the median line, or break out of the channel. We simply do not know the significance of that time zone at this point.
Know this, I am bullish on XRP's price, but I've been trained to pin point confirmation or the lack thereof, which is why, I will always offer the risk at hand!
Cheers!