Good morning to everybody, let's dive and get in to this analysis without further delay.
🔥Based off the point's we've had marked we bounced off of the 0.30 mark yesterday which led us onto a new ascending pattern which brought us up to 0.329-30 resistance before falling below that marked trend line I had put down for myself while personal trading. As usual once we fell below that marked trend line we tumbled and experienced a mountain fall which sent us from that 0.33 mark down to nearly 0.31 as we just barely managed to avoid falling below the sideways channel further.
🔥For those of you that are new the sideways channel is a channel which I marked down at the start of the month basically like two weeks ago in my ideas. So this sideways channel has always been here and has been in multiple ideas already, we've just been pulled all the way back down to it.
🔥On top of that we are hovering above that descending channel. Since the original fall of XRP and BTC from 28k I marked down a descending channel for the two cryptos with the first major descending channel for XRP being right below where we are now. That should be something you should REALLY keep an eye on. Considering all we don't want to get pulled into that channel at all. That's why the sideways channel is so important as it's that 'tug a war' zone as I've highlighted multiple times and ideas before.
🔥The sideways channel will dictate which way the trend will face and go depending on which way we exit, usually though if we exit below the sideways channel strong support kicks in to pull us back up so that's something else to keep in mind. Watch those resistance/support points I've got marked down on the chart. We move above that trend line and it's great for our continuation. In times like these we don't wanna be stagnant and we just wanna keep pushing a much as we can. Watch those EMA's, marked notations, and those HTF levels since those mostly show large volume such as stop/loss orders which are crucial right now.
Hope you guys are doing well and if you'd like to leave a like and follow it'd be much appreciated, thank you!
~ Rock
🔥Based off the point's we've had marked we bounced off of the 0.30 mark yesterday which led us onto a new ascending pattern which brought us up to 0.329-30 resistance before falling below that marked trend line I had put down for myself while personal trading. As usual once we fell below that marked trend line we tumbled and experienced a mountain fall which sent us from that 0.33 mark down to nearly 0.31 as we just barely managed to avoid falling below the sideways channel further.
🔥For those of you that are new the sideways channel is a channel which I marked down at the start of the month basically like two weeks ago in my ideas. So this sideways channel has always been here and has been in multiple ideas already, we've just been pulled all the way back down to it.
🔥On top of that we are hovering above that descending channel. Since the original fall of XRP and BTC from 28k I marked down a descending channel for the two cryptos with the first major descending channel for XRP being right below where we are now. That should be something you should REALLY keep an eye on. Considering all we don't want to get pulled into that channel at all. That's why the sideways channel is so important as it's that 'tug a war' zone as I've highlighted multiple times and ideas before.
🔥The sideways channel will dictate which way the trend will face and go depending on which way we exit, usually though if we exit below the sideways channel strong support kicks in to pull us back up so that's something else to keep in mind. Watch those resistance/support points I've got marked down on the chart. We move above that trend line and it's great for our continuation. In times like these we don't wanna be stagnant and we just wanna keep pushing a much as we can. Watch those EMA's, marked notations, and those HTF levels since those mostly show large volume such as stop/loss orders which are crucial right now.
Hope you guys are doing well and if you'd like to leave a like and follow it'd be much appreciated, thank you!
~ Rock
