Let me start off by saying that Ripple looks like shit.
Bias - Bearish
I see some potential long opportunities in the future, but it's going to take some patience. Besides the bullish wedge, this price chart is extremely bearish to me. Let's begin!
Confluence (3 or more):
1. Price is moving away from it's lowest point
2. Order Block (0.2425-0.3273) was breached. Precursor.
3. Multiple hits on diagonal resistance. Weakness.
Long - I would wait for a clean B.A.R. of the $0.3273 level with Take Profit set for the PPZ (0.5100). Another location for a long opportunity I would be interested in is if Price Action does a B.A.R. of the $0.6243 level, but I'll have 2 Take Profits for that scenario. Let me know what areas you think they may be.
Other than that I wouldn't be interested in Ripple until I see more Price Action play out for clues. We shall see.
*NOT FINANCIAL ADVICE*
Bias - Bearish
I see some potential long opportunities in the future, but it's going to take some patience. Besides the bullish wedge, this price chart is extremely bearish to me. Let's begin!
Confluence (3 or more):
1. Price is moving away from it's lowest point
2. Order Block (0.2425-0.3273) was breached. Precursor.
3. Multiple hits on diagonal resistance. Weakness.
Long - I would wait for a clean B.A.R. of the $0.3273 level with Take Profit set for the PPZ (0.5100). Another location for a long opportunity I would be interested in is if Price Action does a B.A.R. of the $0.6243 level, but I'll have 2 Take Profits for that scenario. Let me know what areas you think they may be.
Other than that I wouldn't be interested in Ripple until I see more Price Action play out for clues. We shall see.
*NOT FINANCIAL ADVICE*