⚡ Hi, hope you guys are doing alright today, and thanks for joining as always ladies and gentlemen. This won't take too long, mainly just a follow up from yesterday's idea.
⚡ Honestly not too much here to see, it's good to see that XRP's pulling back up as I type this but we'll keep things simple as possible. XRP continued it's descent after failing to regain the 200 EMA yesterday sending us down. HOWEVER we avoided falling below the local line of resistance which became support once above it.
⚡ I've simply extended that line today and if you check out yesterday's idea you'll find what we originally marked and can add that to your own charts as you please. Anyway it's good that we've managed to avoid falling below the line else we'd likely fall even further than what we currently have today. So look at that line as a support for now and a resistance should we fall below it.
⚡ Next resistance now is gonna be that consolidated channel being that we fell out of it and will have to face the sell pressure whilst trying to break back in and above into the channel before we can look for our next avenue.
⚡ If we can regain that consolidated channel we'll likely get a good chance to regain that 200 EMA and if we're lucky enough we can use that as a catalyst to potentially break out past a couple levels we've got above which you guys are already aware of.
⚡ If we do fall further look to my 0.50 level of support. There's a reason that line is blue unlike the others after all, it's the make it or break it point. Fall below and we get a likely sell-off. Keep above and we should just alright.
⚡ I have to attend to some things but hope that was alright, just wanted to get a quick idea out for you guys real quick. Thanks for tuning in and feel free to leave a like or follow, even a share. And if you don't feel like doing any of those things, that's alright too, just have a great day and keep well.
~ Rock '
⚡ Honestly not too much here to see, it's good to see that XRP's pulling back up as I type this but we'll keep things simple as possible. XRP continued it's descent after failing to regain the 200 EMA yesterday sending us down. HOWEVER we avoided falling below the local line of resistance which became support once above it.
⚡ I've simply extended that line today and if you check out yesterday's idea you'll find what we originally marked and can add that to your own charts as you please. Anyway it's good that we've managed to avoid falling below the line else we'd likely fall even further than what we currently have today. So look at that line as a support for now and a resistance should we fall below it.
⚡ Next resistance now is gonna be that consolidated channel being that we fell out of it and will have to face the sell pressure whilst trying to break back in and above into the channel before we can look for our next avenue.
⚡ If we can regain that consolidated channel we'll likely get a good chance to regain that 200 EMA and if we're lucky enough we can use that as a catalyst to potentially break out past a couple levels we've got above which you guys are already aware of.
⚡ If we do fall further look to my 0.50 level of support. There's a reason that line is blue unlike the others after all, it's the make it or break it point. Fall below and we get a likely sell-off. Keep above and we should just alright.
⚡ I have to attend to some things but hope that was alright, just wanted to get a quick idea out for you guys real quick. Thanks for tuning in and feel free to leave a like or follow, even a share. And if you don't feel like doing any of those things, that's alright too, just have a great day and keep well.
~ Rock '
Comment:
Have not been able to post this week, been real busy between work and some personal things but should be able to get a post out tomorrow, thanks and if your reading this feel free to shoot me and DM's or questions meanwhile, thanks.
