Currently we can see XRP broke its rising wedge in my previous post/setup.
Now we can see XRP is following a downward channel. We can expect to see rejection at this area and a continuation down towards the channel support.
I do believe that we will not touch the channel resistance next and possibly see a small reversal at local horizontal support (dotted blue line)
Bearish Indication:
Previous Setup:
Full Trade Setup & BitMeX Trading Bot
👇
Now we can see XRP is following a downward channel. We can expect to see rejection at this area and a continuation down towards the channel support.
I do believe that we will not touch the channel resistance next and possibly see a small reversal at local horizontal support (dotted blue line)
Bearish Indication:
- Rejection at channel resistance
- Rising Wedge completion
- Downward Channel
Previous Setup:
Full Trade Setup & BitMeX Trading Bot
👇
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.