short term bearish on xrp
Updated
short term bearish on xrp because=
- xrp is in a giant wedge and support line has been tested for quite some time
- retracement fib level of 0.618 may be broken in a attempt to test the bottom of the wedge pattern
- there is a supply zone sitting in between 0.618 and 0.786 retracement fib levels.
- a wedge has formed on the hourly time frame too which is not showing bullish volume or rsi to support a move to the upside.
- I expect xrpusdt to test 0.77 for these reasons.
- finally fud about crypto has not cleared up yet so you can see where i im going with.
stay save and have fun.
- xrp is in a giant wedge and support line has been tested for quite some time
- retracement fib level of 0.618 may be broken in a attempt to test the bottom of the wedge pattern
- there is a supply zone sitting in between 0.618 and 0.786 retracement fib levels.
- a wedge has formed on the hourly time frame too which is not showing bullish volume or rsi to support a move to the upside.
- I expect xrpusdt to test 0.77 for these reasons.
- finally fud about crypto has not cleared up yet so you can see where i im going with.
stay save and have fun.
Note
Whatsmore is that the Dollar index looks stronger and the head and shoulders it was forming has been invalidated
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