We have a possible head and shoulders formation on the 4HR, which can take prices further downward to a MIN TP of $0.155 (likely) and a MAX TP of $0.09 (unlikely). At the time of writing, the right shoulder has yet to prove a reality, and we are trading within the key-fibo zone where the current downtrend can still be reversed.
We have a bearish confirmation at $0.182, but also a bullish confirmation at $0.218. A bullish confirmation can take us back to $0.253.
To reach the MAX TP we would have to see heavy selling and provoke a breach of the major key fibo level at $0.154.
The XRPBTC chart also provides us with some clues. Currently it looks like we may resume a downward trajectory against BTC within a falling wedge.
Cheers,
-Erik
We have a bearish confirmation at $0.182, but also a bullish confirmation at $0.218. A bullish confirmation can take us back to $0.253.
To reach the MAX TP we would have to see heavy selling and provoke a breach of the major key fibo level at $0.154.
The XRPBTC chart also provides us with some clues. Currently it looks like we may resume a downward trajectory against BTC within a falling wedge.
Cheers,
-Erik
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Hmmmm.. BTC strength is bombing our idea in the USD chart
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RSI says it wants to go up..
But in this chart its still down...
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LOL
Hit our target in this chart... how much lower could it go?
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Wow, bearish wick in the XRPBTC?
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Turned around at a crucial pivot point...more downside?
Couldnt stay above the falling wedge line..
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Still looks bearish in our comparative analysis.
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Its having a hard time closing above the confirmation line...
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Boom...will it break the confirmation?
