🔥 Hey hey, happy friday, it's definitely a busy one but hope everyone's doing well. As usual, we'll get going with our thoughts and try and keep things short.
🔥 Gonna focus on technical for the most part today as we look at things and follow up from our previous idea which is also linked below for reference.
🔥 Looking at our 2 hourly we can see that we're still we continued with the trend and we're able to keep within that ascending channel but we did end up hitting a pretty tough resistance at $2.5 at which we got a pretty quick reversal, sell off. More than likely a coordinated move to sell off enough to have us lose that 200 EMA which was successful.
🔥 We ended up losing that 200 EMA and as of currently we've exited our ascending channel so to get reference on things we've got our Fibonacci chart below to find some good horizontal levels, especially as we approach an important support level being $2.99-3
🔥Next few day's I'll be keeping watch of that Fibonacci Retracement Chart for those levels. It's not perfect but gives some pretty good insight on things and these sort of horizontal channels we've got. Take $2.45-$2.42 for instance. Whenever we got out the channel we broke out or at least tried to and whenever we fell below that $2.35 support we'd get vice versa and fall, retrace.
🔥 So main things so watch right now are whether or not we can keep within that channel or if we'll fall into the one below and if we can regain that 200 EMA or if we fail by which then we could be seeing a retest of $2.99 and should that fail look to $2.20 and $2.10.
🔥 Regardless, XRP still stands in a great position for the long term as we last noted on our previous Big picture idea and whatever happens within the next few days and weeks will simply be market makers playing their game and technical running things till we get some more news or developments. On that note I've got to run but happy we could get something quick out today.
🔥 And as always, thanks so much for the support! Really appreciate it and let's keep at it till, same as ever. Always have more to gain and get done, work towards. Till next, keep posted and have a positive day.
Best regards,
~ Rock'
🔥 Gonna focus on technical for the most part today as we look at things and follow up from our previous idea which is also linked below for reference.
🔥 Looking at our 2 hourly we can see that we're still we continued with the trend and we're able to keep within that ascending channel but we did end up hitting a pretty tough resistance at $2.5 at which we got a pretty quick reversal, sell off. More than likely a coordinated move to sell off enough to have us lose that 200 EMA which was successful.
🔥 We ended up losing that 200 EMA and as of currently we've exited our ascending channel so to get reference on things we've got our Fibonacci chart below to find some good horizontal levels, especially as we approach an important support level being $2.99-3
🔥Next few day's I'll be keeping watch of that Fibonacci Retracement Chart for those levels. It's not perfect but gives some pretty good insight on things and these sort of horizontal channels we've got. Take $2.45-$2.42 for instance. Whenever we got out the channel we broke out or at least tried to and whenever we fell below that $2.35 support we'd get vice versa and fall, retrace.
🔥 So main things so watch right now are whether or not we can keep within that channel or if we'll fall into the one below and if we can regain that 200 EMA or if we fail by which then we could be seeing a retest of $2.99 and should that fail look to $2.20 and $2.10.
🔥 Regardless, XRP still stands in a great position for the long term as we last noted on our previous Big picture idea and whatever happens within the next few days and weeks will simply be market makers playing their game and technical running things till we get some more news or developments. On that note I've got to run but happy we could get something quick out today.
🔥 And as always, thanks so much for the support! Really appreciate it and let's keep at it till, same as ever. Always have more to gain and get done, work towards. Till next, keep posted and have a positive day.
Best regards,
~ Rock'
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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.
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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.