XRP looking super bearish on the daily but I think it could be a quick wick down or a fake out.
Price is nearing Strong support on the weekly. But could see a wick down to the 40 cent area.
If you look on chart you will see the exact same setup is playing out that occurred around end of Jan 2021.
BB tightened with a death cross looming on the daily moving averages, Stoch RSI oversold...
Price action breaks out before death cross happens which does not stop it from occurring. When death cross occurs price consolidates until golden cross confirmed which brings a larger impulse right after.
Will we see a similar outcome?
The first move right before the moving average death crosses was over 200% in a few days.
Will update post as trend progresses..
Not Financial Advice. Downside Risks Apply.
Price is nearing Strong support on the weekly. But could see a wick down to the 40 cent area.
If you look on chart you will see the exact same setup is playing out that occurred around end of Jan 2021.
BB tightened with a death cross looming on the daily moving averages, Stoch RSI oversold...
Price action breaks out before death cross happens which does not stop it from occurring. When death cross occurs price consolidates until golden cross confirmed which brings a larger impulse right after.
Will we see a similar outcome?
The first move right before the moving average death crosses was over 200% in a few days.
Will update post as trend progresses..
Not Financial Advice. Downside Risks Apply.