Hey guys!
ðĨJust a quick analysis here but this is a follow up from this mornings idea, basically I put down that descending trend line and since then you can see how XRP hasn't been able to break above that and basically just gets stopped every time it tries to go above or gets close to that point.
ðĨLike I said that's gonna be our new point and line to watch for a breakout of some sort in the least from the descending pattern we're stuck in right now as Bitcoin tries to get it's grapple on the market. At 0.338 that strong support kicked in which shows below with that large red candle followed promptly by the large green one as bulls will do their best to keep us above 0.337. Now if we can't do that then we could see another fall most definitely if we don't hold above that dotted support.
ðĨThe best scenario right now is that we do indeed hold above and that we actually manage to breakout this time around but we'll just have to see for ourselves about that! Anyway at least it seems that support is doing well for now but wanted to update you guys.
Thank you and have a great day! And if you'd like to leave a like and follow it'd be appreciated
~ Rock
ðĨJust a quick analysis here but this is a follow up from this mornings idea, basically I put down that descending trend line and since then you can see how XRP hasn't been able to break above that and basically just gets stopped every time it tries to go above or gets close to that point.
ðĨLike I said that's gonna be our new point and line to watch for a breakout of some sort in the least from the descending pattern we're stuck in right now as Bitcoin tries to get it's grapple on the market. At 0.338 that strong support kicked in which shows below with that large red candle followed promptly by the large green one as bulls will do their best to keep us above 0.337. Now if we can't do that then we could see another fall most definitely if we don't hold above that dotted support.
ðĨThe best scenario right now is that we do indeed hold above and that we actually manage to breakout this time around but we'll just have to see for ourselves about that! Anyway at least it seems that support is doing well for now but wanted to update you guys.
Thank you and have a great day! And if you'd like to leave a like and follow it'd be appreciated
~ Rock
