XRP Decision Time, mostly Bearish with room for a Double Top
Actualizado
several targets here, 3 bearish to 1 bullish.
bollinger bands are squeezing indicating a change soon
this is not a massive green pennant marked in green. that dirty wick made sure of that
although, we did get a bullish blue triangle inside the the red bearish pennant, which could mean there's room for another push up.
but then what, a touch on 0.7 will create a bear flag, putting the target back 0.27... ouch!
that would suck because then we would almost have a tripple bottom, which doesnt seem to happen all that often in crypto.
so if XRP does get back below .30, i would once again find it hard to long... but i probably will with tight stop losses
loved the XRP pump, but this is not looking sustainable.
bollinger bands are squeezing indicating a change soon
this is not a massive green pennant marked in green. that dirty wick made sure of that
although, we did get a bullish blue triangle inside the the red bearish pennant, which could mean there's room for another push up.
but then what, a touch on 0.7 will create a bear flag, putting the target back 0.27... ouch!
that would suck because then we would almost have a tripple bottom, which doesnt seem to happen all that often in crypto.
so if XRP does get back below .30, i would once again find it hard to long... but i probably will with tight stop losses
loved the XRP pump, but this is not looking sustainable.
Nota
Thanks for reading everyone. As always, I would love any feedback our constructive criticism.Nota
onestepcreative made a good point in that .46 zone has reasonable amount of support. I would say that support zone extends from .42 upto .51.Nota
expanding wedge on the 1 m, possible reversalNota
could be a flag, price can't break .51Nota
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hidden bearish divergence. bearish pennant
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carefull here! this has many reasons to go either way.
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