IS THE MARKET REVERSING ? OR WAS THIS A HEALTHY PULLBACK ?
THESE PAST WEEKS THE MARKETS HAVE BEEN SHOWING MUCH UNCERTANTY LEAVING LOTS OF TRADERS AND INVESTORS ALMOST CLUELESS ON WHERE THE MARKET IS HEADING . AS THE PEOPLE BECAME MORE DEVIDED MORE UNCERTANTY COMES IN THE MARKET WHICH IS WHY WE HAVE BEEN CONSOLIDATING AND I BELIEVE WE DIPED IN A ACCUMILATION ZONE .
XRP DAILY CHART IS STILL LOOKING BULLISH AND LOOKS LIKE HEADING TO 61.8 SUPPORT LEVEL AS THIS IS A KEY LEVEL YOU CAN SEE ON A WEEKLY CHART BACK IN MAY-JUNE 2019 THIS ZONE ACTED AS STRONG RESISTANCE AND LOOKS LIKE THIS SAME ZONE HAS TURNED INTO SUPPORT . WE DIPPED IN THIS ZONE ONCE BEFORE AND WE HAD IMIDIATE PRICE ACTION .
ALSO YOU CAN SEE THAT THE RSI IS HEADING RIGHT INTO A BUYZONE AREA .
MANY OF US BELIEVE THE POSSIBILITIES THAT AFTER THE SPARK TOKEN SNAPSHOT THAT THE MARKET WOULD TAKE A DIP TO STRONGER SUPPORT ZONES AND IT DID .
MY THEORY IS WE BOUNCE ON THE 61.8 FIB LEVEL AROUND $0.45 AND FINNALY BOTTOM OUT SO WE CAN START FORMING NEW HH'S TO REACH OUR PREVIOUS HIGH OF $0.79 AND FINNALY BREAK INTO $1+ ZONE . IF WE BLOW PAST $1 THEN PRICE TARGET WOULD BE $3 AND FROM THERE WE MUST KEEP A CLOSE EYE BECAUSE IF WE CAN GET A CLOSE OVER $3 THERE IS NO TELLING WHERE XRP CAN GO 🚀
XRP DAILY CHART IS STILL LOOKING BULLISH AND LOOKS LIKE HEADING TO 61.8 SUPPORT LEVEL AS THIS IS A KEY LEVEL YOU CAN SEE ON A WEEKLY CHART BACK IN MAY-JUNE 2019 THIS ZONE ACTED AS STRONG RESISTANCE AND LOOKS LIKE THIS SAME ZONE HAS TURNED INTO SUPPORT . WE DIPPED IN THIS ZONE ONCE BEFORE AND WE HAD IMIDIATE PRICE ACTION .
ALSO YOU CAN SEE THAT THE RSI IS HEADING RIGHT INTO A BUYZONE AREA .
MANY OF US BELIEVE THE POSSIBILITIES THAT AFTER THE SPARK TOKEN SNAPSHOT THAT THE MARKET WOULD TAKE A DIP TO STRONGER SUPPORT ZONES AND IT DID .
MY THEORY IS WE BOUNCE ON THE 61.8 FIB LEVEL AROUND $0.45 AND FINNALY BOTTOM OUT SO WE CAN START FORMING NEW HH'S TO REACH OUR PREVIOUS HIGH OF $0.79 AND FINNALY BREAK INTO $1+ ZONE . IF WE BLOW PAST $1 THEN PRICE TARGET WOULD BE $3 AND FROM THERE WE MUST KEEP A CLOSE EYE BECAUSE IF WE CAN GET A CLOSE OVER $3 THERE IS NO TELLING WHERE XRP CAN GO 🚀
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