XRP - Cryptos in Capitulation!!!
Hi everyone,
A flash crash going in to total capitulation is not what we expected - this was very hard especially for inexperienced traders.
Bein over leveraged is suicide in these cases, hence this was a catalyst to this flash crash.
The overall trend still looks bullish (I'm still super bullish), it's very horrible price action but the ABC correction wave is playing out.
On the daily we have to see a reversal pattern playing out to confirm the bullish trend: some kind of V shape pattern.
Weekly chart shows that XRP is holding key supports!
C Wave could have finished, maybe an extra leg down but to be seen - excellent buy opportunities.
On the monthly chart we see that with fractal analysis we expected this crash followed by consolidation:
Kind regards,
Noel
A flash crash going in to total capitulation is not what we expected - this was very hard especially for inexperienced traders.
Bein over leveraged is suicide in these cases, hence this was a catalyst to this flash crash.
The overall trend still looks bullish (I'm still super bullish), it's very horrible price action but the ABC correction wave is playing out.
On the daily we have to see a reversal pattern playing out to confirm the bullish trend: some kind of V shape pattern.
Weekly chart shows that XRP is holding key supports!
C Wave could have finished, maybe an extra leg down but to be seen - excellent buy opportunities.
On the monthly chart we see that with fractal analysis we expected this crash followed by consolidation:
Kind regards,
Noel
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.