XRP/USD - I'm Bullish But Watch for Double Top (4HR)
Updated
Video on XRP and what i'm currently seeing in the charts. In general, i think we're starting to see some good bullish action play out within price action, which i explain in the video.
However, could we be seeing a double top forming on the 4HR??? I guess only time will tell.
However, could we be seeing a double top forming on the 4HR??? I guess only time will tell.
Trade active
Not able to upload a video at the moment, so here is a manual update. Having looked at the chart for the first time today, I'm starting to lean towards the idea that XRP is putting in a Lower High (LH) on the 4HR. That damn 200EMA is keeping price down.
Price is above the 200EMA on all charts, but the 4HR. If we can get a break and sustain it for a day or so, i think we would see more north bound movement in price.
The daily candle is forming out to be bearish after it's pop yesterday, but we're seeing some downward pressure at the moment.
I'm thinking we might see price action move back to around $1.00, which would allow with my new fib zone i added to the 4HR.
I've added to areas of support, which i think will be key in holding price from going back to its lows of the beginning of the month.
Daily
Note
4HR Chart
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