💥In a shocking turn of events Inflation slowed to 8.5% for the month of July, and well you can see just how crazy things went after that. On the minute chart alone from 8:30-8:32 am over a million XRP worth of volume hit the market which absolutely rocketed our crypto up and away from that support we'd had down of 0.363 and having us reenter that 200 EMA in the process as well.
💥Here's a minute chart below of the price action that's going on right now following this move.
💥0.3767 is our next marking and we're hitting support up here as the minute chart is already demonstrating some resistance but also we're seeing support kick in as best as it can to help us avoid that 200 EMA. Bulls will do their best to kick us away from that 200 EMA while bears will do their absolute best as well to have us fall below that 200 EMA and lose it again so that's what both parties are trying to do right now.
💥I'd definitely be cautious after an impulse move like this as usually we'll have a strong pull down when some whales sell but based on the inflation data bulls could use this as another step to moving back up though that'll depend on whether or not bulls can regain ground and keep us above 0.3768 as anything below that is gonna be prone to falling back down.
💥Gonna leave the idea here for now but wow, it's been absolutely insane to wake up to a move like this, but hey, we already know crypto is volatile, all that matters now is how whales and the market overall wants to approach this following the news, the news itself is extremely positive and this is amazing to see right now but again, this was an absolutely insane impulse move, so don't expect us to simply sit up here without at least some resistance, if anything we could move down a bit before progressing back up but overall this was a move I'm very happy to have seen happen.
💥Wishing you guys nothing but the best, if you'd like to leave a like or follow it'd be much appreciated, thank you so much!
~ Rock '
💥Here's a minute chart below of the price action that's going on right now following this move.
💥0.3767 is our next marking and we're hitting support up here as the minute chart is already demonstrating some resistance but also we're seeing support kick in as best as it can to help us avoid that 200 EMA. Bulls will do their best to kick us away from that 200 EMA while bears will do their absolute best as well to have us fall below that 200 EMA and lose it again so that's what both parties are trying to do right now.
💥I'd definitely be cautious after an impulse move like this as usually we'll have a strong pull down when some whales sell but based on the inflation data bulls could use this as another step to moving back up though that'll depend on whether or not bulls can regain ground and keep us above 0.3768 as anything below that is gonna be prone to falling back down.
💥Gonna leave the idea here for now but wow, it's been absolutely insane to wake up to a move like this, but hey, we already know crypto is volatile, all that matters now is how whales and the market overall wants to approach this following the news, the news itself is extremely positive and this is amazing to see right now but again, this was an absolutely insane impulse move, so don't expect us to simply sit up here without at least some resistance, if anything we could move down a bit before progressing back up but overall this was a move I'm very happy to have seen happen.
💥Wishing you guys nothing but the best, if you'd like to leave a like or follow it'd be much appreciated, thank you so much!
~ Rock '
