XRPUSD - Scalp to $1.18

16 thg 8, 2021

Hi Everyone

Quick video update on XRP - longer term I am still bullish on XRP, but due to the technical indicators on LOW timeframes, I would expect a quick wick to1.18, therefore I am labeling this idea as a "short".

I did mention in my previous publication as well that we could see some serious resistance at 1.30 due to a neckline supply zone.

What I would like to see from here is a consolidation between 1.10 and 1.18, because if we can keep these levels we might see another attempt at taking out 1.30 and by probability that attempt might succeed since we have already taken out many sell orders at this level (1.30).

Update on Bitcoin following.
Thanks for watching,
Ev

16 thg 8, 2021

Ghi chú

Made a quick wick to 1.20 just now. Close enough. Will keep updating, I'm monitoring buying pressure on lower timeframes.

17 thg 8, 2021

Ghi chú

Hi guys quick update for you; we went to 1.18 and then bounced beautifully at 1.10 which is exactly on the 0.5 fib line, that was my scalp update(immediate term). However, we're not out of the woods yet. Not seeing enough buying pressure on lower timeframes to prevent the green line in 1D from crossing 50. That would not be ideal, lower timeframes will need to pick up in terms of buying pressure. I will do another xrp update later in which I discuss the above.