When the major dump occurred a few days ago I posted a chart showing why I believed the 0.38 area would be a solid support area. As it happens, that area has indeed provided solid support.
However, within the next 36 hours the wedge plotted will come to an end and the supporting trendline will be at serious risk of breaking down. Assuming it isnt a bear trap, the first support would be at 0.34, but would also open the path to 0.28-0.31 again.
It is absolutely imperative that this level holds.
For the record I still hold from 0.28, 0.31 and 0.36. I will be adding more to my position here, as soon as my wire hits my account.
However, within the next 36 hours the wedge plotted will come to an end and the supporting trendline will be at serious risk of breaking down. Assuming it isnt a bear trap, the first support would be at 0.34, but would also open the path to 0.28-0.31 again.
It is absolutely imperative that this level holds.
For the record I still hold from 0.28, 0.31 and 0.36. I will be adding more to my position here, as soon as my wire hits my account.
Comment:
I did add more to my position at 0.39, which now puts me at 99,500 XRP.
