michaelnecker

michaelnecker

Found a lot of volatility in previous CoE post during the green circle as several trendlines collided and the market is trying to determine what direction XRP will ultimately go following this dip. Ultimately I believe that as the first trendline (admittedly the most optimistic) failed, my hope is that XRP will pick up on the orange trendline as a direction,...

michaelnecker Updated 

If price action enters green circle, a higher low is achieved as it collides with multiple support/resistance lines. I believe the market will be weary of the short bear trend and will be looking for a reason to enter back in to XRP. Stoch will likely be oversold at that point as well.

michaelnecker

Lots of fundamental good news in the pipeline for XRP. Promise of new retail/commercial implementations, as well as the highly likely Coinbase partnership encourage me to be long term bullish, short term bearish. I expect a similar pennant breakout in either the red or the yellow triangle, pushing ahead to $3.50 - $4.50 within mid January to early February.