I am looking at the Ripple (XRPBTC) chart wondering if the retrace is over... I don't think so... Let me share with you why:
I hope you find this information useful.
Alan Masters!
Namaste.
- Price broke below EMA100 (blue line) and 0.618 Fib. support. Two strong support broke at once.
- Hasn't reached 0.786 of Fib. support... Alts tend to stop here on the way down.
- Bear volume is dominant.
- Expect additional retrace. I will keep an eye out and share an update when I believe -based on chart signals- the retrace is completed.
- If XRPBTC moves up with strength and volume, breaks EMA10 and EMA100 and closes above it. Then we can say the retrace is over and a new analysis is needed.
- For now, expect additional bearish action.
I hope you find this information useful.
Alan Masters!
Namaste.
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