Short
Level Analysis on $XRPZ19
Updated
As we can see XRP is playing with the recent range levels. On both sides we can see the level touches: 1 touch, 2 touch, fake out on 3rd touch, back to range with force.
Not enough power to clear out the order book in the upper range, hence a heavy drop. On the downside of the range we have even more touches and the fakeout in the beginning. I applied the fibs according to the levels and ignored the first fakeout. I suspect price to breaking the lower level, taking it back into the 1.68 with a short term target of 0.000027 - more downside suspected. Very risky trade because of SWELL now, they could drop a bomb every second and make the price explode. Take care and have your stops.
Not enough power to clear out the order book in the upper range, hence a heavy drop. On the downside of the range we have even more touches and the fakeout in the beginning. I applied the fibs according to the levels and ignored the first fakeout. I suspect price to breaking the lower level, taking it back into the 1.68 with a short term target of 0.000027 - more downside suspected. Very risky trade because of SWELL now, they could drop a bomb every second and make the price explode. Take care and have your stops.
Note
That escalated quicklyNote
Can get pretty nasty, taking out half at 2706 and let the rest run freely.
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