XRP short resistance
Currently we can see XRP broke its rising wedge in my previous post/setup.
Now we can see XRP is following a downward channel. We can expect to see rejection at this area and a continuation down towards the channel support.
I do believe that we will not touch the channel resistance next and possibly see a small reversal at local horizontal support (dotted blue line)
Bearish Indication:
Previous Setup:
Full Trade Setup & BitMeX Trading Bot
👇
Now we can see XRP is following a downward channel. We can expect to see rejection at this area and a continuation down towards the channel support.
I do believe that we will not touch the channel resistance next and possibly see a small reversal at local horizontal support (dotted blue line)
Bearish Indication:
- Rejection at channel resistance
- Rising Wedge completion
- Downward Channel
Previous Setup:
Full Trade Setup & BitMeX Trading Bot
👇
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