XRP - 4 Hour My Thoughts
Hello XRP fans and haters, Andrew here, coming from burning California.
Hate to say XRP fans, it I'm still Bearish until we climb out of this dang descending channel. Sitting on top of support (the 21 MA). IF we break out of the channel and the 21 MA, good things could happen. The inverted H & S pattern could easily playout, due to the resistance and support lines, in relation to the existing left shoulder and head, a break with volume, could take use to the neck line .50 Fib RETRACEMENT line. Retrace to the Golden Pocket, .618.
SHORT TERM: Bearish to Neutral
MID TERM: Neutral to Bullish
LONG TERM: Bullish (with all other alts)
BTC is dominating market right now so most crypto are dumbing. If you are not in XRP right now, DON'T open any position, even if we break the neckline, it's still a crap shoot. For swing traders I would wait until we are in the buy zone, at around $0.33. I hear people say alt season is over, lol, in this next btc run, alts season hasn't even started.
Hate to say XRP fans, it I'm still Bearish until we climb out of this dang descending channel. Sitting on top of support (the 21 MA). IF we break out of the channel and the 21 MA, good things could happen. The inverted H & S pattern could easily playout, due to the resistance and support lines, in relation to the existing left shoulder and head, a break with volume, could take use to the neck line .50 Fib RETRACEMENT line. Retrace to the Golden Pocket, .618.
SHORT TERM: Bearish to Neutral
MID TERM: Neutral to Bullish
LONG TERM: Bullish (with all other alts)
BTC is dominating market right now so most crypto are dumbing. If you are not in XRP right now, DON'T open any position, even if we break the neckline, it's still a crap shoot. For swing traders I would wait until we are in the buy zone, at around $0.33. I hear people say alt season is over, lol, in this next btc run, alts season hasn't even started.
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