⚡️ Alright so I'll keep this short for you guys but if you read up on yesterday's idea then you should have been set! As we wrote up in yesterday's observation we noted how a third slip below would be the confirmation for the bears to sell and likewise they did just that sending us down.
⚡️ We haven't quite touched our next horizontal level and instead managed to stop about halfway in between 0.44 and 0.455 coincidentally enough. Below then is our 3 minute chart which will show some more of what's going on with the 200 EMA.
⚡️ We can see what happened once that 200 EMA got lost and how things are looking right now with the entry we've got going on right now. We did manage to regain the 200 but are hitting resistance at 0.453 understandably being that 0.455 will now be a resistance line rather than a support till we break above it next.
⚡️ With that in mind we may lose the 200 EMA again with weaker volumes showing less certainty right now in traders waiting to identify what the next move could possibly be understandably. We lose that 200 EMA wouldn't be shocking to see a slip and vice versa if we can manage to keep hold and especially break 0.455. Whether or not one or the other happens will simply be on traders for now and that's only on the 3 minute chart. The 15 minute is in itself a tell.
⚡️ The past few days have been relatively slow when we look at just how often we lost the 200 EMA vs prior to the 21st when we'd manage to keep it within our mountain. This is healthy retracement though and is much better to see than some of our past price action events with XRP as I'm sure most of you are well acquainted with. The big surge up and then the big fall after like a waterfall. This time though, it's looking like a river slowly going down stream searching for it's next path.
⚡️ I'll leave the idea here for now as it's getting a bit long now but watch those horizontal levels and that 200. Thanks for tuning in, especially if you've made it this far, and any likes or follow's are always appreciated. Wishing well.
~ Rock '
⚡️ We haven't quite touched our next horizontal level and instead managed to stop about halfway in between 0.44 and 0.455 coincidentally enough. Below then is our 3 minute chart which will show some more of what's going on with the 200 EMA.
⚡️ We can see what happened once that 200 EMA got lost and how things are looking right now with the entry we've got going on right now. We did manage to regain the 200 but are hitting resistance at 0.453 understandably being that 0.455 will now be a resistance line rather than a support till we break above it next.
⚡️ With that in mind we may lose the 200 EMA again with weaker volumes showing less certainty right now in traders waiting to identify what the next move could possibly be understandably. We lose that 200 EMA wouldn't be shocking to see a slip and vice versa if we can manage to keep hold and especially break 0.455. Whether or not one or the other happens will simply be on traders for now and that's only on the 3 minute chart. The 15 minute is in itself a tell.
⚡️ The past few days have been relatively slow when we look at just how often we lost the 200 EMA vs prior to the 21st when we'd manage to keep it within our mountain. This is healthy retracement though and is much better to see than some of our past price action events with XRP as I'm sure most of you are well acquainted with. The big surge up and then the big fall after like a waterfall. This time though, it's looking like a river slowly going down stream searching for it's next path.
⚡️ I'll leave the idea here for now as it's getting a bit long now but watch those horizontal levels and that 200. Thanks for tuning in, especially if you've made it this far, and any likes or follow's are always appreciated. Wishing well.
~ Rock '