XRP / BitcoinShort
Is this another fake-out by XRP!?
In my previous analysis on XRP/BTC (Linked) I said that I expected the Weekly Resistance of 2231sats to hold and for price to eventually reach the 1400sats Weekly Support. Since then price has broken through the 2231sats level, the Monthly Resistance of 2365sats and has now tested the next Monthly Resistance of 2815sats. We have seen XRP fake-outs in the past such as the one highlighted that took place throughout September and October 2019.
Taking into account price has so far been rejected by the 2815sats Monthly Resistance and that until price has a Monthly close above the 2365sats Monthly level this also remains as Resistance, could this be another fake-out? The Weekly level of 2231sats also has not yet been tested as Support, so will price lose this level and then continue to 1400sats? Personally I think so but I will change my bias to Bullish if price closes above 2815sats on the Monthly TF.
Taking into account price has so far been rejected by the 2815sats Monthly Resistance and that until price has a Monthly close above the 2365sats Monthly level this also remains as Resistance, could this be another fake-out? The Weekly level of 2231sats also has not yet been tested as Support, so will price lose this level and then continue to 1400sats? Personally I think so but I will change my bias to Bullish if price closes above 2815sats on the Monthly TF.
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