Following my last post, XRPUSD decided to bounce on the trendline and reached the daily supply at 0.2050.
WHAT'S NEXT?
1) Test of this level to see if we can find some bears hidden to push the price back onto the new daily demand at 0.1815.
- This daily demand zone could allow big boys to enter the market and push the price higher.
- Too much bear pressure; market comes back to 0.1650 (monthly demand zone).
2) Break of the daily supply, rally to weekly supply at 0.31 where we will see a strong fight between bulls and bears.
- A break of the weekly supply will indicate us that the bear market is over.
- Bears take over at this level and price fall down to retest the last monthly demand at 0.1650.
As always, market will tell us what trend to follow.
Trade safe,
AT
WHAT'S NEXT?
1) Test of this level to see if we can find some bears hidden to push the price back onto the new daily demand at 0.1815.
- This daily demand zone could allow big boys to enter the market and push the price higher.
- Too much bear pressure; market comes back to 0.1650 (monthly demand zone).
2) Break of the daily supply, rally to weekly supply at 0.31 where we will see a strong fight between bulls and bears.
- A break of the weekly supply will indicate us that the bear market is over.
- Bears take over at this level and price fall down to retest the last monthly demand at 0.1650.
As always, market will tell us what trend to follow.
Trade safe,
AT