Where will XRP find its bottom?
I wish I could tell you. XRP has been on a steady skid for the past few days. However, from what I can tell XRP may be working its way into a falling wedge. The blue box is where I XRP will get my attention, there is a heavy resistance in that range, and lines up nicely with the descending wedge pattern. As I have mentioned in other charts, waiting for a solid reversal of the trend will be key before opening a long position on XRP. Look for volume to increase around the level of the blue box, and watch from there to determine a reversal. If XRP does not reverse in the .162-.168 range it will most likely be headed for new all time lows.
I would love opinions, thoughts, criticism, or analysis.
Cheers and happy trading
I wish I could tell you. XRP has been on a steady skid for the past few days. However, from what I can tell XRP may be working its way into a falling wedge. The blue box is where I XRP will get my attention, there is a heavy resistance in that range, and lines up nicely with the descending wedge pattern. As I have mentioned in other charts, waiting for a solid reversal of the trend will be key before opening a long position on XRP. Look for volume to increase around the level of the blue box, and watch from there to determine a reversal. If XRP does not reverse in the .162-.168 range it will most likely be headed for new all time lows.
I would love opinions, thoughts, criticism, or analysis.
Cheers and happy trading
ความคิดเห็น:
XRP will be making a decision in the coming hours. It has broken out of the descending wedge, and now is trying to find its feet as to where it will go next. I would not be surprised if it makes it over the red up trend line if it continues that ascending path.
-machinelearnt
Duplicate post chart, here is the most recent. My apologies.