Hi friends! I just have one question: Do you see? Do you see why I am a master analyst? I don't want to boast, but practically every single call that I've made, is 100% accurate. If you doubt me, review my old charts. They never lie. If you want to learn how to trade like a legend, please follow me, and allow me to teach you the way.
Looking at the four hour chart for Ripple, we can see that it has broken below the small downtrend channel (maroon dashes,) and is now testing support, at the 61.8% retrace. We can see that the 618 has already been pierced, indicating weakness in the level. A slide lower should ensue, as MACD momentum expands to the downside, and bearish volume increases. Just below, support rests around $1.10. Below that, XRP should test the blue trendline again, and perhaps penetrate it, to reach my bear flag target. Looking closer at the chart, we can see that after XRP fell below the neckline on the head and shoulders pattern, it rallied back up to test it, but quickly fell back below. Since then, we haven't been back up to test the neckline, so it is now confirmed as major overhead resistance. Therefore, the upside is very limited, but the downside is wide open. The bears are in full control of this market, as the selling continues to overwhelm the buyers. Stay on your toes people. The bears aren't done.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-MPC loves you-
-JD-
Looking at the four hour chart for Ripple, we can see that it has broken below the small downtrend channel (maroon dashes,) and is now testing support, at the 61.8% retrace. We can see that the 618 has already been pierced, indicating weakness in the level. A slide lower should ensue, as MACD momentum expands to the downside, and bearish volume increases. Just below, support rests around $1.10. Below that, XRP should test the blue trendline again, and perhaps penetrate it, to reach my bear flag target. Looking closer at the chart, we can see that after XRP fell below the neckline on the head and shoulders pattern, it rallied back up to test it, but quickly fell back below. Since then, we haven't been back up to test the neckline, so it is now confirmed as major overhead resistance. Therefore, the upside is very limited, but the downside is wide open. The bears are in full control of this market, as the selling continues to overwhelm the buyers. Stay on your toes people. The bears aren't done.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-MPC loves you-
-JD-