Hey! hope you guys are doing well, we're just gonna keep this idea short and quick since it's a follow up to this mornings idea.
ðĨYou can read the mornings idea to get a good idea of what's up but basically we broke out from the descending channel I put down a few ideas back. To add on to that our EMA's also flipped so that's been fun and it seems like XRP is getting ready to breakout of our main descending channel and has pushed through that 0.323 resistance we put down yesterday.
ðĨWe're approaching the same point we got rejected two days ago at 0.3314 so watch for that since we could definitely see a rejection here and then see that followed by a mountain fall of some sort if we fail to sustain pressure. You can see just how our EMA's nearly flipped only managing to stay afloat thanks to strong buy pressure so that's a good thing to keep an eye on.
ðĨIf we fail to break out from this descending channel and instead get rejected we could face another move down before moving back up but it likely won't be as low as the previous one if we use past price action as any indication. If so, then we definitely could see XRP reenter that sideways channel and cause us a headache. So basically guys watch that EMA as well as if we form any higher highs or fail to do so and see a mountain fall or rejection instead.
Have a great day and if you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock
ðĨYou can read the mornings idea to get a good idea of what's up but basically we broke out from the descending channel I put down a few ideas back. To add on to that our EMA's also flipped so that's been fun and it seems like XRP is getting ready to breakout of our main descending channel and has pushed through that 0.323 resistance we put down yesterday.
ðĨWe're approaching the same point we got rejected two days ago at 0.3314 so watch for that since we could definitely see a rejection here and then see that followed by a mountain fall of some sort if we fail to sustain pressure. You can see just how our EMA's nearly flipped only managing to stay afloat thanks to strong buy pressure so that's a good thing to keep an eye on.
ðĨIf we fail to break out from this descending channel and instead get rejected we could face another move down before moving back up but it likely won't be as low as the previous one if we use past price action as any indication. If so, then we definitely could see XRP reenter that sideways channel and cause us a headache. So basically guys watch that EMA as well as if we form any higher highs or fail to do so and see a mountain fall or rejection instead.
Have a great day and if you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock
