XRP/USD is forming a flag on 4H, break out of which will lead it straight to 0.30 support. But there is still a possibility of accumulation now with further bullish movement. So, how can we know which variant is more possible?
1) Arguments for SHORT: -downtrend with no buyer hints
-every jump of the price to 0.326 is weak and quickly gets covered by bears
2) Arguments for LONG: -accumulation of the price above the support
-there were some huge sell offs(long spikes), which somebody had bought.
-today's news about fake capitalization of XRP didn't affect the price, which means that nobody is interested in further fall
-I expect a short-term upward move of BTC, so XRP will go with it
Summing up, place long orders above resistance and short - below support. Don't forget about stop-losses!)
1) Arguments for SHORT: -downtrend with no buyer hints
-every jump of the price to 0.326 is weak and quickly gets covered by bears
2) Arguments for LONG: -accumulation of the price above the support
-there were some huge sell offs(long spikes), which somebody had bought.
-today's news about fake capitalization of XRP didn't affect the price, which means that nobody is interested in further fall
-I expect a short-term upward move of BTC, so XRP will go with it
Summing up, place long orders above resistance and short - below support. Don't forget about stop-losses!)