Hey, as always I hope you guys are doing great today, before I started I just wanted to say if you find this idea insightful or it helps you in the least a like or follow would always be appreciated as it simply supports me on my journey to doing what I enjoy, thank you.
âĄïļThis is gonna be a follow up to last nights Idea but basically our previous Idea/scenario proved correct/came to fruition as the market had sort of a relief rally following the Fed's largest interest rate hike being as most of the market had already taken that into consideration and was expecting it. Anything worse would have definitely resulted in a sell off but instead we got what we were hoping for and as a result the market seems like it wants to start to pull back up being as we all know now that Inflation will have to be dealt with aggressively, but not as aggressively as the market was worried about this week.
âĄïļIn part with that breakout I noted to you guys that if we exited the blue marked bear pattern/channel then that would likely result in good upside which is what we have seen. Then last night I followed up on that at the top and told you guys that we would likely have a drop which always follows an impulse move and that's exactly what happened and it brought us to that sideways channel which we noted was likely gonna happen as we need somewhere to establish camp. We are basically camping at the sideways channel and deciding on which path to pick but while we definitely want the upper, if XRP doesn't hold it's support or Bitcoin falls then XRP could fall down along with it and if it moves below the sideways channel then definitely another fall will happen but chances aren't too high right now considering all.
âĄïļBasically we got to that 0.33 mark before whales dumped on us creating another mountain fall and flipping our EMA's to cause the fall. Now just as much as they sold they've bought back in and hopefully will ride with us this time rather than simply try to drag us down again so keep watch for that as well as the markers and indications I've got up as always which will tell you just about all you need to know and keep watch for. If our EMA's flip again then we should see some pretty good moves bit by bit back up in a more relatively cooler and slower fashion which is preferable as impulse movements will most often simply result in us looking at mountain falls.
âĄïļThank you guys for watching and I just wanted to keep this Idea short for today since our main line to watch as always is that last defense line with our resistance being at 0.338 right now. That's the mark XRP will have to break to push to be able to start looking back at that possibly 0.40 mark and higher as the market gauges a lot today and breaks off from yesterday's volatility.
âĄïļSo watch right now for our sideways channels movement on which direction we'll likely head out, that sideways channel is always gonna be a deciding point/basecamp for the crypto to rest at while it dwells on it's next move but short term it's looking like XRP is having a tough time and is only being held up by big orders right now so if those stop hitting or a large Bear wants to sell then well, they will. So keep watch and as always I'll keep you guys posted on what you want, when you need it.
Hope you guys have a great day and if you felt any of that helped or was insightful, then please leave a like and follow. And please be sure to leave a comment below even if it's just a hey or what's up, I always love responding to comments and talking with you guys, thank you! And as always, be sure to do your own DD and trade responsibly.
~ Rock
âĄïļThis is gonna be a follow up to last nights Idea but basically our previous Idea/scenario proved correct/came to fruition as the market had sort of a relief rally following the Fed's largest interest rate hike being as most of the market had already taken that into consideration and was expecting it. Anything worse would have definitely resulted in a sell off but instead we got what we were hoping for and as a result the market seems like it wants to start to pull back up being as we all know now that Inflation will have to be dealt with aggressively, but not as aggressively as the market was worried about this week.
âĄïļIn part with that breakout I noted to you guys that if we exited the blue marked bear pattern/channel then that would likely result in good upside which is what we have seen. Then last night I followed up on that at the top and told you guys that we would likely have a drop which always follows an impulse move and that's exactly what happened and it brought us to that sideways channel which we noted was likely gonna happen as we need somewhere to establish camp. We are basically camping at the sideways channel and deciding on which path to pick but while we definitely want the upper, if XRP doesn't hold it's support or Bitcoin falls then XRP could fall down along with it and if it moves below the sideways channel then definitely another fall will happen but chances aren't too high right now considering all.
âĄïļBasically we got to that 0.33 mark before whales dumped on us creating another mountain fall and flipping our EMA's to cause the fall. Now just as much as they sold they've bought back in and hopefully will ride with us this time rather than simply try to drag us down again so keep watch for that as well as the markers and indications I've got up as always which will tell you just about all you need to know and keep watch for. If our EMA's flip again then we should see some pretty good moves bit by bit back up in a more relatively cooler and slower fashion which is preferable as impulse movements will most often simply result in us looking at mountain falls.
âĄïļThank you guys for watching and I just wanted to keep this Idea short for today since our main line to watch as always is that last defense line with our resistance being at 0.338 right now. That's the mark XRP will have to break to push to be able to start looking back at that possibly 0.40 mark and higher as the market gauges a lot today and breaks off from yesterday's volatility.
âĄïļSo watch right now for our sideways channels movement on which direction we'll likely head out, that sideways channel is always gonna be a deciding point/basecamp for the crypto to rest at while it dwells on it's next move but short term it's looking like XRP is having a tough time and is only being held up by big orders right now so if those stop hitting or a large Bear wants to sell then well, they will. So keep watch and as always I'll keep you guys posted on what you want, when you need it.
Hope you guys have a great day and if you felt any of that helped or was insightful, then please leave a like and follow. And please be sure to leave a comment below even if it's just a hey or what's up, I always love responding to comments and talking with you guys, thank you! And as always, be sure to do your own DD and trade responsibly.
~ Rock
