An update on my previous post regarding XRP.
As you can see XRP did break through the $2.40 price level, i would like to think this could be some manipulation and a liquidity trap from short sellers at the $2.40 level as it is an easily identifiable key level.
On the higher timeframes however the fib does show a perfect reversal of half the previous extension to the %61.80 level as well as forming a new lower high. Still not buying just for the moment, the higher timeframes do still indicate some more relief is incoming especially with the lower major key levels of $1.9500 aligning perfectly with the -27.00% fib retracement which would be a target for many retail traders.
Also a clear double rejection from the $2.6200 price point has created the reversal to the down side.
As you can see XRP did break through the $2.40 price level, i would like to think this could be some manipulation and a liquidity trap from short sellers at the $2.40 level as it is an easily identifiable key level.
On the higher timeframes however the fib does show a perfect reversal of half the previous extension to the %61.80 level as well as forming a new lower high. Still not buying just for the moment, the higher timeframes do still indicate some more relief is incoming especially with the lower major key levels of $1.9500 aligning perfectly with the -27.00% fib retracement which would be a target for many retail traders.
Also a clear double rejection from the $2.6200 price point has created the reversal to the down side.
İşlem kapandı: hedefe ulaştı
Absolute pin point perfection, target hit & 25% banked 🚀 Hopefully helped a few of you that viewed this setup before that insane dump!
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.