XRPShort
XRP Bearish Swing High Pattern
The two yellow lines are my high probability targets, with the purple line being the maximum low I see this coin moving too.
I understand there's alot of fud out there about Ripple currently but one thing I've learned over my years trading crypto is to avoid the news cycle. Insiders are making moves weeks if not months before news hits the mass public, hence why I predominantly focus on price action. This price action is telling me we are headed lower, not because of the doom and gloom headlines but specifically because of the patterns that are appearing on the chart. One of those patterns happens to be a swing high. A swing high pattern, also known as a bearish absorption wick, signifies that overzealous traders purchased an asset on weak volume leading to smart money overwhelming these naive trades with unexpected supply. Usually following a swing high event we will see price making significant moves lower, which is exactly what I'm expecting to see develop within xrp over the next few months.
I understand there's alot of fud out there about Ripple currently but one thing I've learned over my years trading crypto is to avoid the news cycle. Insiders are making moves weeks if not months before news hits the mass public, hence why I predominantly focus on price action. This price action is telling me we are headed lower, not because of the doom and gloom headlines but specifically because of the patterns that are appearing on the chart. One of those patterns happens to be a swing high. A swing high pattern, also known as a bearish absorption wick, signifies that overzealous traders purchased an asset on weak volume leading to smart money overwhelming these naive trades with unexpected supply. Usually following a swing high event we will see price making significant moves lower, which is exactly what I'm expecting to see develop within xrp over the next few months.
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