Hey guys! Just giving you a quick daily TA for the daily since I just got off work and need to catch some rest.
⚡️Basically since yesterday's posting XRP has trended lower and hasn't necessarily quite fallen dramatically. Strong support kicked in on behalf of whales which most likely want to avoid that 200 EMA fall. So you can see now on the 15 minute chart how we managed to get that 200 EMA to enter back into our chart but right now it's looking like it's just barely holding.
⚡️No joke just go look at the volume and hover over those bars to see just how big this tug a war is getting. Literal millions are being bought and sold as both sides try to get the EMA on the side they need it. The average volume is never this dramatic let alone this much and apparent but it's a must as both sides are really giving it their all. Like I said in the previous idea, bears will take advantage when the chart is close to the 200 EMA to dump while bulls are basically being forced to keep and hold support as best as they can. In this situation bears have more influence and power since things look more bearish at the moment. Bulls on the other hand have managed to hold their weight against the large sell orders that keep hitting.
⚡️I'm gonna leave the idea here since it's a follow up from yesterday's but my point still stands on this tug a war, soon we're gonna see a large move and if bulls can't push us back up confidently above that 200 EMA and lose grip then bears could definitely take over and send us down. Now I don't believe it would be dramatic to the extant of bringing us all the way back down to where we were before this weeks rally. But how dramatic of course will depend on just how we exit the mountain if we do. If we exit the mountain straight ahead then that'll be a big drop much like the one that's just starting to form which I'll link below.
⚡️Adding this quick 3 minute scale to show you just how dramatic the moves are already getting! You already see how dramatic this is! Now THIS is what I call the start of a mountain fall! Buy pressure can of course reverse us but you can clearly see just how dramatic this is. And it's just the 3 minute chart! Bears really know how to take advantage and in this scenario again they do! So quite possible our Death cross has already started it's formation. I'm gonna leave this here for now but just keep watching to see if we continue to fall and watch those markers I've got down for you guys showing those resistance and support points!
⚡️Basically keep watch of that 200 EMA (In black) since we still have that chance of a death cross really solidly forming if Bears take control of the situation and win this tug a war, especially with us approaching those liquidity levels on our HTF levels. So keep tuned for more updates and follow to keep posted. And if you felt the idea was helpful a like would be appreciated, thank you!
~ Rock
⚡️Basically since yesterday's posting XRP has trended lower and hasn't necessarily quite fallen dramatically. Strong support kicked in on behalf of whales which most likely want to avoid that 200 EMA fall. So you can see now on the 15 minute chart how we managed to get that 200 EMA to enter back into our chart but right now it's looking like it's just barely holding.
⚡️No joke just go look at the volume and hover over those bars to see just how big this tug a war is getting. Literal millions are being bought and sold as both sides try to get the EMA on the side they need it. The average volume is never this dramatic let alone this much and apparent but it's a must as both sides are really giving it their all. Like I said in the previous idea, bears will take advantage when the chart is close to the 200 EMA to dump while bulls are basically being forced to keep and hold support as best as they can. In this situation bears have more influence and power since things look more bearish at the moment. Bulls on the other hand have managed to hold their weight against the large sell orders that keep hitting.
⚡️I'm gonna leave the idea here since it's a follow up from yesterday's but my point still stands on this tug a war, soon we're gonna see a large move and if bulls can't push us back up confidently above that 200 EMA and lose grip then bears could definitely take over and send us down. Now I don't believe it would be dramatic to the extant of bringing us all the way back down to where we were before this weeks rally. But how dramatic of course will depend on just how we exit the mountain if we do. If we exit the mountain straight ahead then that'll be a big drop much like the one that's just starting to form which I'll link below.
⚡️Adding this quick 3 minute scale to show you just how dramatic the moves are already getting! You already see how dramatic this is! Now THIS is what I call the start of a mountain fall! Buy pressure can of course reverse us but you can clearly see just how dramatic this is. And it's just the 3 minute chart! Bears really know how to take advantage and in this scenario again they do! So quite possible our Death cross has already started it's formation. I'm gonna leave this here for now but just keep watching to see if we continue to fall and watch those markers I've got down for you guys showing those resistance and support points!
⚡️Basically keep watch of that 200 EMA (In black) since we still have that chance of a death cross really solidly forming if Bears take control of the situation and win this tug a war, especially with us approaching those liquidity levels on our HTF levels. So keep tuned for more updates and follow to keep posted. And if you felt the idea was helpful a like would be appreciated, thank you!
~ Rock
