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The price broke down more aggressively than I anticipated but the short is still available. The price should bounce off the top of the old trading range at $0.70 and go to the bottom at $0.62. This will create bullish divergence on the RSI (shown with thick green trend lines)
The price has finally broken down to my $0.72-$0.73 target and is currently heading back to $0.80 to confirm as resistance. Once we have confirmation that $0.80 is resistance I will open the short to $0.62.
So the price broke down from the upward channel and the trading range and is sat at the absolute bottom. I have kept my bearish overlay from the last chart but I wouldn't take the short trade now, especially with the price action from the 24th, 25th and 26th April where the whales repeatedly stopped out all the longs and shorts positioned at the bottom of the ...
Since my last post XRPUSD has moved back to the bottom of the trading range so I am no longer bullish. It is still forming a bullish trend line with three touches at the bottom and two at the top but it's a more considered bullish shape. A breakdown below the trend line support AND trading range support followed by confirmation that they are now resistance is a ...
We have been in this trading range for a few weeks and look ready to leave through the upside. On the past two occasions, from when RSI leaves oversold until it leaves overbought there have been two clear trend lines up from the bottom of the trading range but on this occasion the RSI has left oversold and the price is moving up from the middle of the range ...