Buyer and sellers are definitely battling this one out with price being squeezed into a symmetrical triangle which means an erratic break is coming soon. My bias is long and big if we break the triangle to the upside. We've seen a slow down in bearish candles, with some of the last 4HR closes being dojis and a hammer.
More confluence comes with XRP/BTC finding support at the 0.000024 level.
Though we cannot dismiss the chance of breaking below the trend and retesting support at one of or maybe even both of the grey box levels as indicated on my chart.
Overall i'm long looking to buy if we break and close above or long at each of the grey boxes at level $1.20 & $1.10.
I’m a 23 year old trader with 5 years experience in trading cryptocurrency & forex. My ideas are for educational purposes only. Each & every idea/trade I post is a setup based on a position I myself will take - so I’m always in it with my followers.
I post daily updates on how I believe the market will move. If you like my content please like, comment & follow. I love to hear what you guys think, whether your outlook is the same or different to mine its always great to converse in the comments. Let’s surround ourselves with likeminded traders & investors!
Have a great day, be patient & profitable!
More confluence comes with XRP/BTC finding support at the 0.000024 level.
Though we cannot dismiss the chance of breaking below the trend and retesting support at one of or maybe even both of the grey box levels as indicated on my chart.
Overall i'm long looking to buy if we break and close above or long at each of the grey boxes at level $1.20 & $1.10.
I’m a 23 year old trader with 5 years experience in trading cryptocurrency & forex. My ideas are for educational purposes only. Each & every idea/trade I post is a setup based on a position I myself will take - so I’m always in it with my followers.
I post daily updates on how I believe the market will move. If you like my content please like, comment & follow. I love to hear what you guys think, whether your outlook is the same or different to mine its always great to converse in the comments. Let’s surround ourselves with likeminded traders & investors!
Have a great day, be patient & profitable!
