Serial trend-line breaker XRP now looks well bear, innit. HOWEVER given the slow pace of PA in this daily range I do not expect it to just roll over.
Bull case: Still above critical support, bull div starting to form on the daily. Price needs to break the Weekly resistance @ ~9394 and hold above. Failure to hold above will result in everyone's favourite bearish pattern, Head and Shoulders on the weekly.
Bear case: Not many more retests & breakdowns before we see a substantial drop. A strong rejection from the range EQ would be very bearish.
I expect a small pump to at least the EQ, looking to punt a small long somewhere between 8700 and 8500. A wick to the top of the range is not out of the question, and could still form the right shoulder of the H&S. Assuming this plays out, whether I flip short depends on PA - let's see what happens.
Bull case: Still above critical support, bull div starting to form on the daily. Price needs to break the Weekly resistance @ ~9394 and hold above. Failure to hold above will result in everyone's favourite bearish pattern, Head and Shoulders on the weekly.
Bear case: Not many more retests & breakdowns before we see a substantial drop. A strong rejection from the range EQ would be very bearish.
I expect a small pump to at least the EQ, looking to punt a small long somewhere between 8700 and 8500. A wick to the top of the range is not out of the question, and could still form the right shoulder of the H&S. Assuming this plays out, whether I flip short depends on PA - let's see what happens.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.