We should see what happens from here to go long when an entry point presents itself. On the other hand we must be mindful, as this day has not finished and there maybe rocks on the road ahead from the avalanche BTC is experiencing, is effecting all the coins at the moment...
Transaction en cours:
We are building support under resistance at the .786, which may or may not take us back up to the 1.40 level, we should know more tomorrow.
Transaction en cours:
XRP looks like it will reach support/double bottom at .85 and will most surely bounce off this with some force which should take it back up to 1.12 resistance.....
Transaction en cours:
So we reached .676 in price on XRP with the sell off lead by BTC. It went past the predicted double bottom I had mentioned earlier. Fear took hold for many traders and public a like and this is why it can be hard to say what will happen, when a lot rides on human emotion. For the most part though, crypto has followed TA and so I continue to believe in and follow it using its predictions. Like the other coins I see support forming now and some kind of recovery taking place, it will take time, how long is the question. Consumer confidence has been severely tested and nerves are still frayed from the experience. The chart shows this in weakness we have seen off this low/support. The longer we stay around here the better and confidence will grow with time. I must mention here, that even time works differently with the crypto markets, so the recovery could only take days, but I believe at least a week before we see real progress in the positive direction.