☄️If you don't give this a look you'll likely regret it so make sure to give at least a quick view and tune in for a quick read, thanks! To start we have the main chart up above, this is an important big picture idea basically. We see how we've been in this descending triangle since 2018 facing resistance multiple times at that wall above us. That's on the weekly chart but if we look at the daily it looks a bit different.
☄️Here's the first main picture of the daily chart:
Now here's the important part:
☄️By looking at the chart we can already denote that we may have possibly already exited this wedge and are at an extremely important point already with our 200 EMA in which we've got it but we can also lose it rather easily if we fail to sustain support. 0.293 is our Strongest support point as the triangles bottom. If we lose our 200 EMA again then we already know what'll likely happen, we'll likely retrace further and retest that support where we'll see whether or not we hold and fight or get pushed down under our descending triangle by which then it would get confirmed and traders would sell/open shorts as one does when you exit out of a descending triangle down.
☄️Now while that's what happens if you descending down, if you do the opposite then you create an insane break out most often which surprise surprise leads to these insane rallies/spikes to new highs we see from XRP's history. This is gonna be our make or break it moment and whether or not we exit above our weekly triangle with a break out or fall below will make all the difference. The daily chart will show it first of course but the weekly will confirm.
☄️Hopefully that makes sense but any questions feel free to comment below. This is my big picture look on things and just a Rock's perspective as always! If you'd like to leave a like and follow or share it'd be much appreciated, thank you!
~ Rock '
☄️Here's the first main picture of the daily chart:
Now here's the important part:
☄️By looking at the chart we can already denote that we may have possibly already exited this wedge and are at an extremely important point already with our 200 EMA in which we've got it but we can also lose it rather easily if we fail to sustain support. 0.293 is our Strongest support point as the triangles bottom. If we lose our 200 EMA again then we already know what'll likely happen, we'll likely retrace further and retest that support where we'll see whether or not we hold and fight or get pushed down under our descending triangle by which then it would get confirmed and traders would sell/open shorts as one does when you exit out of a descending triangle down.
☄️Now while that's what happens if you descending down, if you do the opposite then you create an insane break out most often which surprise surprise leads to these insane rallies/spikes to new highs we see from XRP's history. This is gonna be our make or break it moment and whether or not we exit above our weekly triangle with a break out or fall below will make all the difference. The daily chart will show it first of course but the weekly will confirm.
☄️Hopefully that makes sense but any questions feel free to comment below. This is my big picture look on things and just a Rock's perspective as always! If you'd like to leave a like and follow or share it'd be much appreciated, thank you!
~ Rock '
