Looks to be breaking out of the channel again after a breakout and return to channel yesterday. At the time that looked bullish so I didn't take a trade but it's falling out of a very noticeable pattern right now. There are a lot of eyes on xrp at the moment so I wouldn't be surprised to see big player taking long liquidity and buying into the breakdown here. Also has nearby strong fib support. Going to watch it develop a little more for now
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15m looks really bearish, though. Looks like pretty clean head and shoulders and some really bearish candle signals with that gap down into bearish engulfing/dark cloud cover. I'll watch to see how it reacts on pullback to neckline and may snap-short it
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This should be the area where we get a better idea of what it's going to do. It's coming to an inflection point. Looks like it could just be a retest of the triangle/head and shoulders breakdown. A break back over neckline and right shoulder would look quite bullish
So according to you the price will decrease in the next 24hrs ?
jthrasher
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@devaedis12, not necessarily, but it's at ascending trendline support currently. IF it was to break that trendline I would expect a fall, yes.
devaedis12
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@jthrasher, Very good point, but i believe that Monday morning or afternoon we will have another pump, maybe the last push before Swell, because its now or never.
jthrasher
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@devaedis12, it's barely clinging to this ascending channel if you zoom out and is over the .618 fib of our local range. So it's techincally stil bullish but looks like it's right on the edge and i'm seeing bearish signs on these lower timeframe candles. We'll see
jthrasher
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that's about a week old so you'd need to hit play to see its current position
jthrasher
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@devaedis12, looks like you were spot on. Looks quite bullish at the moment
devaedis12
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@jthrasher, Yeah, but the volume is failing to gain momentum, which is pissing me off. Sold half of my position already at 0.3020.