XRP Swell 12 day pre-watch
Updated
TAKE NOTE: SWELL NOV 7th - 8th 2019
swell.ripple.com/
Last year we got a decent hype run on XRP before the 2018 Swell conference that happened Sept. 18th.
This year the conference will be held Nov 07th. There was a 12 day bull run then price went back to its current zone (.25 - .30 cents)
I cant see price spiking low right now unless it happens as a bullish flag for a rise a week before the conference or thereafter.
Price is moving up in a bullish trend holding angular support having no daily resistance at .25 -allowing price to hold above this downward pressure.
Price has almosted completed the 4H pinch observation viewed last week. A solid call for buyers was displayed AND did happen. Overall we currently sit at the top part of the |> 4H consolidated pinch with a slight breakout up. A close on daily back at .30 will give the market an incentive for a push to .32 - .33 price range.
A negative reaction on hourly can give us a drip to 19 cents or as low as .15
Price has a bullish curvature degree of 44% showing a bearish strength loss of 15 - 18%
Bears held a 61% percent sell strength for 2 weeks before it started to go sideways at .22 - .27 cents.
If price holds above .30 cents we will be back above 50% buyers vs sellers. Overall price is stable between .25 and .30 cents leaving me to believe XRP is worth .25 minimum from here on out as the new floor for the rest of the year. If I am wrong then a drip to point D around .15 or lower (as low as .10 cents) can happen.
Thank you for following as always! Stay safe and always manage risk!
swell.ripple.com/
Last year we got a decent hype run on XRP before the 2018 Swell conference that happened Sept. 18th.
This year the conference will be held Nov 07th. There was a 12 day bull run then price went back to its current zone (.25 - .30 cents)
I cant see price spiking low right now unless it happens as a bullish flag for a rise a week before the conference or thereafter.
Price is moving up in a bullish trend holding angular support having no daily resistance at .25 -allowing price to hold above this downward pressure.
Price has almosted completed the 4H pinch observation viewed last week. A solid call for buyers was displayed AND did happen. Overall we currently sit at the top part of the |> 4H consolidated pinch with a slight breakout up. A close on daily back at .30 will give the market an incentive for a push to .32 - .33 price range.
A negative reaction on hourly can give us a drip to 19 cents or as low as .15
Price has a bullish curvature degree of 44% showing a bearish strength loss of 15 - 18%
Bears held a 61% percent sell strength for 2 weeks before it started to go sideways at .22 - .27 cents.
If price holds above .30 cents we will be back above 50% buyers vs sellers. Overall price is stable between .25 and .30 cents leaving me to believe XRP is worth .25 minimum from here on out as the new floor for the rest of the year. If I am wrong then a drip to point D around .15 or lower (as low as .10 cents) can happen.
Thank you for following as always! Stay safe and always manage risk!
Note
Please ignore the X and A are in the wrong positions but the pattern is pretty much the same idea. Sorry was in a rush making this for everyone today!Note
pattern would be an XABCD. I was just stretching it out without looking at the letters lol.
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