Hey guys wishing well as always! This is gonna be one of those real important and urgent reads so make sure to tune in and read! My Bitcoin idea already denoted how we got absolutely rejected at that $20,000 resistance mark and how it just barely has managed to enter/fall below $18,900 and extend it's fall before pulling up as it is trying now.
XRP follows Bitcoin of course so this is an important mark as we can definitely see this fall continue being that Bitcoin isn't exactly showing much strength and neither is XRP but we know that the bull whales are indeed trying their best but it's rough admittedly.
We nearly broke out of that sideways channel before being rejected and dumped down with that big wick even extending to 0.302 and pushing us below that CAUTION line of support. There's a big reason that line is red and dotted and the others aren't, the other's are support and resistance and so is this but should we fall below enough that's that. By that point Bitcoin would likely be entering the $18,000 zone again and pull XRP down forming a new low in the process which is anything but what we want to see right now.
What's gonna matter right now is support. We need to see strong support keep above 0.30 and see those 20/50 EMA's flip once again so that we can get pulled into our 200 EMA. If we can't do that we could be in for another fall to 0.29 as we had to deal with in our most recent historic low. So don't be surprised if that ends up happening. Personally I'd love to see support kick in and pull us up but considering everything and how worried the market seems to be with inflation still seemingly getting worse by the day, we may just have a bit more to go before we see things finally turn.
Leave a like and follow if you appreciated the idea and make sure to follow for more great and accurate ideas as always! If you ever doubt me, you can always check out my previous ideas and that'll show you my track record and just how good it get's with each and every single new idea! Thank you guys and have a wonderful day!
~ Rock '
XRP follows Bitcoin of course so this is an important mark as we can definitely see this fall continue being that Bitcoin isn't exactly showing much strength and neither is XRP but we know that the bull whales are indeed trying their best but it's rough admittedly.
We nearly broke out of that sideways channel before being rejected and dumped down with that big wick even extending to 0.302 and pushing us below that CAUTION line of support. There's a big reason that line is red and dotted and the others aren't, the other's are support and resistance and so is this but should we fall below enough that's that. By that point Bitcoin would likely be entering the $18,000 zone again and pull XRP down forming a new low in the process which is anything but what we want to see right now.
What's gonna matter right now is support. We need to see strong support keep above 0.30 and see those 20/50 EMA's flip once again so that we can get pulled into our 200 EMA. If we can't do that we could be in for another fall to 0.29 as we had to deal with in our most recent historic low. So don't be surprised if that ends up happening. Personally I'd love to see support kick in and pull us up but considering everything and how worried the market seems to be with inflation still seemingly getting worse by the day, we may just have a bit more to go before we see things finally turn.
Leave a like and follow if you appreciated the idea and make sure to follow for more great and accurate ideas as always! If you ever doubt me, you can always check out my previous ideas and that'll show you my track record and just how good it get's with each and every single new idea! Thank you guys and have a wonderful day!
~ Rock '
