Again, and again the shorts seem to still be holding down Ripple, funny enough the action of the volume spike earlier this morning seems to be the shorts covering after hitting the 0.750 level.
Crazy right? Again, I see a retest of that same 0.750 support level or recovery from optimistic longs for a 0.990 resistance level retest.
Watch the 1.066 and 1.128 levels too especially because of how broke through them.
If Ripple can be string to overcome the resistance around the 0.990 level, the levels I mentioned above it will be very interesting to watch.
But again, let's wait and see; big moves happen when emotions are high.
Crazy right? Again, I see a retest of that same 0.750 support level or recovery from optimistic longs for a 0.990 resistance level retest.
Watch the 1.066 and 1.128 levels too especially because of how broke through them.
If Ripple can be string to overcome the resistance around the 0.990 level, the levels I mentioned above it will be very interesting to watch.
But again, let's wait and see; big moves happen when emotions are high.
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We are getting our 0.990 level test; so far after the volume cover spike yesterday, there was a bear trap pullback that couldn't retest the 0.750 level.
That is bullish to me, but looking closely, there is a correction channel forming and this 0.990 level could make or break it.
Basically, if it breaks the 0.990 in a certain manner, it is a bullish indication in combination to the recovery from yesterday's support and we will have to watch the behavior at the 1.066 level BUT if it fails the 0.990 level and returns to the bottom boundary of the channel, it can be an indication of another strong down move coming up.
Again this is all out of expectations, and the only thing that will matter will be the current action of the price at the corresponding levels
For now, the behavior at this 0.990 level will tell a lot.
It should be great to see what unfolds; buckle up everyone!
That is bullish to me, but looking closely, there is a correction channel forming and this 0.990 level could make or break it.
Basically, if it breaks the 0.990 in a certain manner, it is a bullish indication in combination to the recovery from yesterday's support and we will have to watch the behavior at the 1.066 level BUT if it fails the 0.990 level and returns to the bottom boundary of the channel, it can be an indication of another strong down move coming up.
Again this is all out of expectations, and the only thing that will matter will be the current action of the price at the corresponding levels
For now, the behavior at this 0.990 level will tell a lot.
It should be great to see what unfolds; buckle up everyone!
1. on the hour charts there are a series of doji's which implies a top
2. this was not real capitulation - last times capitulation was .87 to 1.39. 124 m volume during 12 hours
3. this time only .63 to .95 on 63m volume
3. symmetrical triangle played out over the past few weeks suggests a price target of .4 to .5 -
4. if it takes the low of .63 - .4 to .5 is not that far and .4 is the high when XRP first exploded
If you look at the price action, the support today that you mentioned is not outdated in my opinion. The associated spike at the support, to me, does not look like new buyers, but rather short sellers covering their shorts (remember that it is Friday, and it is possible that shorts started during the week will like to be out before the weekend; that is what I think that support came from).
So in my opinion, the players in Ripple haven't done anything to show whether the price will go up or down. This whole week they were showing the price to go down, but just from what happened today, people have taken profits and now people who enter are probably going to be gambling/predicting the future lol. I don't know which level the price will test first, but if you check what the price does WHEN it reached those levels, it will give you an idea of what XRP wants to do. See the way the price acted when it broke down from the 1.128 level on Tuesday; that was bearish. RIght now, I think the best thing is to wait for big players to act and then hop on quickly. No greed, no emotion. You can PM me if you want to talk more about this stuff.
Sorry for the long message, I just want to say what's on my mind haha.