Rising Wedge (2H) - Make or break
With XRP sitting at the pennants resistance line this is make or break, with this pattern forming we could see a decline down towards $2.08 which is the pennants support as we can see from 3 previous retests. I don't feel as if we're posed for a breakout before Trumps term or the SEC case update. BTC is still looking bearish and looks like it could decline back down to $91,000 region.
Watch the horizontal support from previous low, if this support doesn't breakdown then a breakout is on the horizon, we could see quite a sharp bounce.
I don't see a breakout on the horizon yet but who knows, I could be wrong.
I am going to be taking a short position with a tight stop loss for this.
Watch the horizontal support from previous low, if this support doesn't breakdown then a breakout is on the horizon, we could see quite a sharp bounce.
I don't see a breakout on the horizon yet but who knows, I could be wrong.
I am going to be taking a short position with a tight stop loss for this.
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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.