Resistance needed to be broken: 6300s range
A daily close above 6300 would indicate we're not going to fall to mid 5000s this week. A daily close above 6400 means 6800 automatically, believe that.
Hedge short above 6300 or 6400.
Lime green box is buying on tested support.
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Newly released block explorer:
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This shit is over four years old!!!
Pivots (HLC) - Fibonacci Daily
Fishnet HullMA
(BXBT * P. Index) / 3 VWAP (A WIP for the funding calculator, can also be used as sentiment et. al)
This is a "buy the dip" scenario for me because it is within range.
Although a bear flag has formed, it may be invalidated if it holds.
Very bearish signs of a drop due to the Fishnet MAs converging together....
Unfortunately a lot of what I've posted recently is on Twitter, most of my bullish reasoning is there.
I believe we will hit the Schiff Pitchfork median from here. Consolidation above the previous month's high and above the Fibonacci R1 pivot is extremely bullish. Fishnet trending upward. That said, my main take profit is at $10,400 and I also have short entries...
The characteristics of a coin like XRP:
Was insanely cheap
Huge volume accumulation due to its low valuation
Sudden insane increase in price valuation, with little reason for it (no working product, only promises)
Bagholders created by buying much higher than its intrinsic value
Overvaluation
Consistently failing to have strong break outs after peak...
Simple moving averages 1-200 create this FishNet pattern. Together all the moving averages create support and resist levels. Works well on multiple timeframes.
