Beforre US CPI announcement, XRP has moved rectangle patterns for three days
The U.S. stocks and the crypto market are highly correlated
If CPI matches or is better than expected, U.S. stocks continue to uptrend, and the crypto market will have a higher possibility to move in a clear direction(short term)
If XRP trends upwards and breakout the upper edge of supply zone (0.3625)
The first target at Fibo 38.2 (0.3725)
If it is worse than expected, the U.S. stock market fall, and if the crypto market will fall.
Observe whether Fibo 61.8 (0.3494) & the demand zone (0.3485-0.3518) can become an effective support or not
The second support level (0.3445-0.3464)
The U.S. stocks and the crypto market are highly correlated
If CPI matches or is better than expected, U.S. stocks continue to uptrend, and the crypto market will have a higher possibility to move in a clear direction(short term)
If XRP trends upwards and breakout the upper edge of supply zone (0.3625)
The first target at Fibo 38.2 (0.3725)
If it is worse than expected, the U.S. stock market fall, and if the crypto market will fall.
Observe whether Fibo 61.8 (0.3494) & the demand zone (0.3485-0.3518) can become an effective support or not
The second support level (0.3445-0.3464)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.