Hey! We are still trading as I've had noted on the chart and this idea is just gonna be the same as the past one essentially since we're still on track and not much has changed from my last post! And as always before we get started quick feel free to leave a like and follow, it just takes a second to do and is always appreciated! And as well if you want a detailed and longer Idea on what is going on simply read my linked related Ideas which are still on track and will give you a lot of useful info!
Dive🤿
As I mentioned in my last Idea we exited that ascending channel for XRP and started trading sideways which we have still continued to do. I also noted that sideways/horizontal channel which is highlighted in yellow that depicts that channel we seem to be stuck currently trading within which is roughly 0.40-0.45 where we keep seeing that resistance being our current wall.
Quick Idea 💡
Again this is just an add on Idea to my previous one since it's the same stuff but what I'm happy to see at least now is that we are keeping things relatively sustained, I mean we haven't gotten dragged down or moved below our 0.39 channel again yet and like I noted in the previous Idea the farther we get away from that descending wedge the better. We simply want to get away from that and moving up is a bonus of course as it'll add more sway to investors confidence and if we're lucky we'll enter back into that ascending channel with some real strong buying support. We can see that overall we are trending on the higher and keeping more towards the upper latter when it comes to our current sideways channel and it seems like price action is trying to break through that with our main issue being that resistance point again at 45 cents now.
Left the mountain ⛰️
An Important note is that on the 15m we did close at a lower high closing at 0.4430 vs 0.50 on the previous peak which of course isn't always the best and our EMA lines have left the mountain. For those that haven't been here before and aren't sure what I mean by that, It's basically my way of saying that the EMA lines have exited our candles much like a skier may fly off a mountain during a stunt, the fall that usually follows is dramatic which is why I call it leaving the mountain!
Thanks again as always and once again feel free to leave a like or follow and share so that you can keep tuned on the latest and best Ideas you'll need to know! Always here for you guys and appreciate it all, keep safe and be responsibly, always do your own DD as well and most importantly have an amazing day!
~ Rock
Dive🤿
As I mentioned in my last Idea we exited that ascending channel for XRP and started trading sideways which we have still continued to do. I also noted that sideways/horizontal channel which is highlighted in yellow that depicts that channel we seem to be stuck currently trading within which is roughly 0.40-0.45 where we keep seeing that resistance being our current wall.
Quick Idea 💡
Again this is just an add on Idea to my previous one since it's the same stuff but what I'm happy to see at least now is that we are keeping things relatively sustained, I mean we haven't gotten dragged down or moved below our 0.39 channel again yet and like I noted in the previous Idea the farther we get away from that descending wedge the better. We simply want to get away from that and moving up is a bonus of course as it'll add more sway to investors confidence and if we're lucky we'll enter back into that ascending channel with some real strong buying support. We can see that overall we are trending on the higher and keeping more towards the upper latter when it comes to our current sideways channel and it seems like price action is trying to break through that with our main issue being that resistance point again at 45 cents now.
Left the mountain ⛰️
An Important note is that on the 15m we did close at a lower high closing at 0.4430 vs 0.50 on the previous peak which of course isn't always the best and our EMA lines have left the mountain. For those that haven't been here before and aren't sure what I mean by that, It's basically my way of saying that the EMA lines have exited our candles much like a skier may fly off a mountain during a stunt, the fall that usually follows is dramatic which is why I call it leaving the mountain!
- I won't waste any of your time but keep that last note in mind especially if your a short term or futures trader since those points will help determine whether or not we find the short term support we'll need or if we really do end up falling off the mountain which usually happens if you simply check out past price action even just looking at the past few days what happened when our EMA's exited. If that happens and we get pulled towards or back into that Falling wedge overnight again it's real rough/bearish. But keep an eye on that and for some volatile activity to kick in soon once some real moves get made in the water and we see some activity outside of our current sideways channel.
Thanks again as always and once again feel free to leave a like or follow and share so that you can keep tuned on the latest and best Ideas you'll need to know! Always here for you guys and appreciate it all, keep safe and be responsibly, always do your own DD as well and most importantly have an amazing day!
~ Rock
