Alright! As always before I start if you feel I deserve it and you'd like to leave a like and follow it is always much appreciated and helps me to keep pushing! I'm going out after this to go look at some cars for a while so I just wanted to get a quick morning Idea in if anything on XRP, and this is for the most part gonna be a follow up to yesterday's Idea which you of course can read in the linked related Idea's and will tell you about our scenarios. I'll sum things up as best as I can and make them real quick for you guys.
💥For the first scenario we bounce off our descending channel and then we bounce back up to the channel's top before getting moved back down from that top and we stay within the descending channel that formed. Last night I noted that we'd likely see a bounce from the channels bottom and that's exactly what's going on right now, our EMA's are hopefully looking to reunite again soon but you can see just how they fell apart from each other following the mountains fall. That's why I always call out these mountain falls for you guys and if you've been with me before you already know what I mean and just how much of a tell tale sign it can be!
💥On top of that we've entered back into our Keltner channel showing that volume is moving back up but we'll wanna see the bars move into the upper channels of the Keltner channels for some bullish movements which you can see happen whenever the crypto breaks into the upper channel. Keltner channels basically are based on the picks volatility which in this case is XRP and can help to determine price or a trend direction based on the channels that the asset moves into with the upper channel signaling positive and bullish movements while the lower channel is the opposite/bearish movements.
💥Now another scenario to take into account is that we could instead see the crypto move's to the channel's top and breakout in which case we'd likely see a pretty strong breakout there but it wouldn't be without a whale or two trying to dump on us to bring us back into the descending channel so keep that in mind if we do get to that point. That's about the best scenario right now as we do want to get out of this channel as soon as we can but if we don't then regardless when we do experience a breakout it'll be pretty strong like the one I noted last week during the Hinman meeting.
💥In the worst case on the other hand if we end up really lacking support and we simply break through that descending channel's bottom then you better strap yourself in and be ready for the rollercoaster ahead cause trust me it's gonna be bumpy. But if I'm being honest I'd simply start to DCA a bit and take advantage of the opportunity. I wanna emphasize that regardless of what happens today, tomorrow, or the next day, it shouldn't matter unless your a futures or a day trader of which I use to be both. I personally would suggest going with the long strategy in this case and if we're talking about long strategies, then XRP is a brilliant one regardless of how you look at it. Their case will be ending soon more than likely as the Judge has rejected once again another of the SEC's motions to seal the Hinman speech and instead is asking for the redacted documents of the real speech he was suppose to give which more than less likely was suppose to mention XRP being as even Ripple Fintech was there at the speech likely expecting Hinman to mention them as well. But instead for whatever reason he only mentioned Ethereum starting the crypto monopoly.
So you guys better be prepped cause next week is gonna be a hell of a volatile week. But if were being honest, when is it not? IF you guys feel I deserve it a like and follow would be much appreciated and I'm more than happy to answer any questions or if your curious about the case or anything simply let me know although I'll be making a post later or tomorrow relating to the Hinman documents as well, thank you!
~ Rock
💥For the first scenario we bounce off our descending channel and then we bounce back up to the channel's top before getting moved back down from that top and we stay within the descending channel that formed. Last night I noted that we'd likely see a bounce from the channels bottom and that's exactly what's going on right now, our EMA's are hopefully looking to reunite again soon but you can see just how they fell apart from each other following the mountains fall. That's why I always call out these mountain falls for you guys and if you've been with me before you already know what I mean and just how much of a tell tale sign it can be!
💥On top of that we've entered back into our Keltner channel showing that volume is moving back up but we'll wanna see the bars move into the upper channels of the Keltner channels for some bullish movements which you can see happen whenever the crypto breaks into the upper channel. Keltner channels basically are based on the picks volatility which in this case is XRP and can help to determine price or a trend direction based on the channels that the asset moves into with the upper channel signaling positive and bullish movements while the lower channel is the opposite/bearish movements.
💥Now another scenario to take into account is that we could instead see the crypto move's to the channel's top and breakout in which case we'd likely see a pretty strong breakout there but it wouldn't be without a whale or two trying to dump on us to bring us back into the descending channel so keep that in mind if we do get to that point. That's about the best scenario right now as we do want to get out of this channel as soon as we can but if we don't then regardless when we do experience a breakout it'll be pretty strong like the one I noted last week during the Hinman meeting.
💥In the worst case on the other hand if we end up really lacking support and we simply break through that descending channel's bottom then you better strap yourself in and be ready for the rollercoaster ahead cause trust me it's gonna be bumpy. But if I'm being honest I'd simply start to DCA a bit and take advantage of the opportunity. I wanna emphasize that regardless of what happens today, tomorrow, or the next day, it shouldn't matter unless your a futures or a day trader of which I use to be both. I personally would suggest going with the long strategy in this case and if we're talking about long strategies, then XRP is a brilliant one regardless of how you look at it. Their case will be ending soon more than likely as the Judge has rejected once again another of the SEC's motions to seal the Hinman speech and instead is asking for the redacted documents of the real speech he was suppose to give which more than less likely was suppose to mention XRP being as even Ripple Fintech was there at the speech likely expecting Hinman to mention them as well. But instead for whatever reason he only mentioned Ethereum starting the crypto monopoly.
So you guys better be prepped cause next week is gonna be a hell of a volatile week. But if were being honest, when is it not? IF you guys feel I deserve it a like and follow would be much appreciated and I'm more than happy to answer any questions or if your curious about the case or anything simply let me know although I'll be making a post later or tomorrow relating to the Hinman documents as well, thank you!
~ Rock
