sachu_blessyou

XRP Bigger Picture View (Weekly Time Frame)

BINANCE:XRPBTC   XRP / Bitcoin
I would be careful longing at this level because if we use Fibonacci to find the important levels based on the last run up, we can see there is strong resistance we still need to surpass. The 0.5 level (0.00003070) is especially important, as it used to serve as support and has now turned into strong resistance (a bearish sign). I'd feel more comfortable longing once this level is surpassed, and possibly turns into support. Longing right now would be longing into strong resistance.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.