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Art_of_Trading
Mar 19, 2018 11:52 AM

RIPPLE (XRP) - Price Action Analysis Short

XRP / DollarBitfinex

Description

The XRP price increases significantly (log bullish bar) yesterday. However, it stopped going up and found the resistance point at 0.670. Then, it started moving sideways and none of the participants (sellers and buyers) got control of the price. However, there is a resistance level at 0.7071, where the new selling orders are placed. However, I expect the price will not go up and after breaking the red box, the bears will start selling, not to miss an opportunity to make profits. Once, the valid breakout is confirmed with a strong bearish move, I will short this trade.
Comments
zerblunk
nice bull flag though...but seems not to hold
Art_of_Trading
@zerblunk, I am waiting for the bearish breakout. However, the sellers are not committed at the moment to take initiative and start selling.
zerblunk
@Art_of_Trading, Fingers crossed ;)
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