Hello dear XRP traders HODLers friends, hope you're doing well. We had talked about the importance of the 28-30 Cent bottom in the last video analysis, check it out if you haven't seen it so far:
=> As I was saying in the video, a reaction from the bulls from that magic bottom was definitely expected, and that I would rather see a bounce & prolonged consolidation for 1-2 months above 30 Cents in order to be comfortable playing it to the short side once the $28-30 bottom breaks.
We have currently the potential for a bounce ongoing as an inverse H&S with 32 cents as neckline, which could lead to the previous S&R zone at 35-36 Cents, giving up to solid 10% profit. Also RSI is on a steady divergence since the last few legs down, and would in this case confirm the breakout. As always: Patterns only get confirmed when they break, even then they can fake-out/not see any follow-through.
Feel free to watch the video, and also my important update to the government attack on crypto! ;)
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
=> As I was saying in the video, a reaction from the bulls from that magic bottom was definitely expected, and that I would rather see a bounce & prolonged consolidation for 1-2 months above 30 Cents in order to be comfortable playing it to the short side once the $28-30 bottom breaks.
We have currently the potential for a bounce ongoing as an inverse H&S with 32 cents as neckline, which could lead to the previous S&R zone at 35-36 Cents, giving up to solid 10% profit. Also RSI is on a steady divergence since the last few legs down, and would in this case confirm the breakout. As always: Patterns only get confirmed when they break, even then they can fake-out/not see any follow-through.
Feel free to watch the video, and also my important update to the government attack on crypto! ;)
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
