XRP Bottom In? How to know if you should enter or wait...
Okay guys, sorry for the delay in update. So as we can see, we hit our $1.20 mark perfectly and bounced off. Many are questioning whether the bottom is in or we go another leg down to 1.00 or even .74
This is hard at this time to know for sure. 1.20 is a very strong support and with many expecting good news from the SEC lawsuit tomorrow, it may just hold.
Our strategy at this point is to shown on the 1hr chart above. You can see my two EMA lines, one red, one green.
If the Green line crosses above the red line followed by a solid blue candle, (meaning it is flat on the bottom (no wick on the bottom) and sits on top the EMA),
this would be a buy signal and might mean that we have bottomed. I would enter if this happens just to be safe.
If however we reject the 1.4 and it becomes resistance, we could possibly see these lower prices mentioned above.
We'll have to wait and see.
I will update if we cross. :)
This is hard at this time to know for sure. 1.20 is a very strong support and with many expecting good news from the SEC lawsuit tomorrow, it may just hold.
Our strategy at this point is to shown on the 1hr chart above. You can see my two EMA lines, one red, one green.
If the Green line crosses above the red line followed by a solid blue candle, (meaning it is flat on the bottom (no wick on the bottom) and sits on top the EMA),
this would be a buy signal and might mean that we have bottomed. I would enter if this happens just to be safe.
If however we reject the 1.4 and it becomes resistance, we could possibly see these lower prices mentioned above.
We'll have to wait and see.
I will update if we cross. :)
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