๐ฅ Thanks for tuning in today to the few that do, it's appreciated as always. Today's idea isn't gonna be too long, just something quick and short since I understand it's Monday and you've all probably got a lot going on.
๐ฅ First thing to pay mind to is that ascending channel, XRP's managed to continue moving up even after nearly slipping up and losing that 200 EMA yesterday before price was recovered thanks to intense buying pressure on behalf of whales. Below is the minute chart:
๐ฅWe've had a pretty good recovery having broken through most of our horizontal levels under 0.50 with what's looking like some retracement right now. I'll be looking at 0.485 to see whether or not we find support or fall below and lose that 200 EMA again.
๐ฅ We haven't formed a higher high as of yet but compared to the first impulse wave this is pretty good as far as recovery goes so far. Those 20/50 EMA's on the shorter time frames are going to be your best indicators on whether or not we flip back down or not, that as well as my horizontal level at 0.485 so keep mind.
๐ฅ I did want to throw in this quick chart I came across which is very interesting.
๐ฅ Pretty wild to consider the fact that there was so much fighting between whales that ended up with those wild wick extensions. I noted in yesterday's idea that whales have put their foot in the water with us and this is one of those clear examples. Especially when you get to those make or break it points so we'll simply have to keep that in mind. We've got some real whales here no doubt now.
๐ฅ Like I said today's TA would be pretty quick and short, it is Monday after all but I hope that helps at least some. All of this has brought us to our tip of the ascending channel where it's basically closed so what happens next will no doubt be a pivot or some wild movement. That's it for now, if you'd like to leave a like or follow it'd be much appreciated, thanks as always.
~ Rock '
๐ฅ First thing to pay mind to is that ascending channel, XRP's managed to continue moving up even after nearly slipping up and losing that 200 EMA yesterday before price was recovered thanks to intense buying pressure on behalf of whales. Below is the minute chart:
๐ฅWe've had a pretty good recovery having broken through most of our horizontal levels under 0.50 with what's looking like some retracement right now. I'll be looking at 0.485 to see whether or not we find support or fall below and lose that 200 EMA again.
๐ฅ We haven't formed a higher high as of yet but compared to the first impulse wave this is pretty good as far as recovery goes so far. Those 20/50 EMA's on the shorter time frames are going to be your best indicators on whether or not we flip back down or not, that as well as my horizontal level at 0.485 so keep mind.
๐ฅ I did want to throw in this quick chart I came across which is very interesting.
๐ฅ Pretty wild to consider the fact that there was so much fighting between whales that ended up with those wild wick extensions. I noted in yesterday's idea that whales have put their foot in the water with us and this is one of those clear examples. Especially when you get to those make or break it points so we'll simply have to keep that in mind. We've got some real whales here no doubt now.
๐ฅ Like I said today's TA would be pretty quick and short, it is Monday after all but I hope that helps at least some. All of this has brought us to our tip of the ascending channel where it's basically closed so what happens next will no doubt be a pivot or some wild movement. That's it for now, if you'd like to leave a like or follow it'd be much appreciated, thanks as always.
~ Rock '
