Please refer to our previous post:
After the XRP breakout we outlined that XRP/BTC was the most important pair to watch. Also, we outlined that the XRP/BTC pair was likely to push into our "potential supply zone" that ranges between around 0.0000285 and 0.000031.
This is exactly what happened with our XRP/BTC pair topping out around 0.0000307. Thus confirming resistance as sellers started offloading in this range. Once the pair broken down from the supply zone it tanked to our yellow dotted line "key level".
So far price has been respecting this key level with all candle bodies above. This has also been in alignment with the psychological $3 level. If XRP/BTC closes a 12H/1D candle body below the yellow dotted line the uptrend is likely not to stay in tact.
For now, with the pair respecting the yellow line a move back to test the bottom of our supply zone (0.0000285) is on the table.
After the XRP breakout we outlined that XRP/BTC was the most important pair to watch. Also, we outlined that the XRP/BTC pair was likely to push into our "potential supply zone" that ranges between around 0.0000285 and 0.000031.
This is exactly what happened with our XRP/BTC pair topping out around 0.0000307. Thus confirming resistance as sellers started offloading in this range. Once the pair broken down from the supply zone it tanked to our yellow dotted line "key level".
So far price has been respecting this key level with all candle bodies above. This has also been in alignment with the psychological $3 level. If XRP/BTC closes a 12H/1D candle body below the yellow dotted line the uptrend is likely not to stay in tact.
For now, with the pair respecting the yellow line a move back to test the bottom of our supply zone (0.0000285) is on the table.
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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.
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.