XRPUSD - This is R.I.P. to me...Unless It's Not
Updated
Again, and again the shorts seem to still be holding down Ripple, funny enough the action of the volume spike earlier this morning seems to be the shorts covering after hitting the 0.750 level.
Crazy right? Again, I see a retest of that same 0.750 support level or recovery from optimistic longs for a 0.990 resistance level retest.
Watch the 1.066 and 1.128 levels too especially because of how broke through them.
If Ripple can be string to overcome the resistance around the 0.990 level, the levels I mentioned above it will be very interesting to watch.
But again, let's wait and see; big moves happen when emotions are high.
Crazy right? Again, I see a retest of that same 0.750 support level or recovery from optimistic longs for a 0.990 resistance level retest.
Watch the 1.066 and 1.128 levels too especially because of how broke through them.
If Ripple can be string to overcome the resistance around the 0.990 level, the levels I mentioned above it will be very interesting to watch.
But again, let's wait and see; big moves happen when emotions are high.
Trade closed: target reached
We are getting our 0.990 level test; so far after the volume cover spike yesterday, there was a bear trap pullback that couldn't retest the 0.750 level.That is bullish to me, but looking closely, there is a correction channel forming and this 0.990 level could make or break it.
Basically, if it breaks the 0.990 in a certain manner, it is a bullish indication in combination to the recovery from yesterday's support and we will have to watch the behavior at the 1.066 level BUT if it fails the 0.990 level and returns to the bottom boundary of the channel, it can be an indication of another strong down move coming up.
Again this is all out of expectations, and the only thing that will matter will be the current action of the price at the corresponding levels
For now, the behavior at this 0.990 level will tell a lot.
It should be great to see what unfolds; buckle up everyone!
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