⚡️ XRP BREAKSOUT ASCENDING CHANNEL ⚡️
⚡️ Hi ladies and gentlemen, thanks for allowing me to take up some of your time today, promise I won't be too long. In yesterday's idea I added our next ascending channel and we can see how that's played out accordingly. Below is yesterday's chart:
⚡️ Feel free to compare this to our chart above. Just helps make things a bit simpler to compare and spot but off that it's nice to see that we did break that 0.47421 and just like I noted yesterday, we break out or below the channel it'll be one or the other and in this case we got our breakout.
⚡️ That considered and all, we broke out and things went accordingly to my horizontal levels with us breaching 0.485 to hit that resistance at 0.492, and again as usual these lines aren't new at all, the horizontal levels are levels I simply place and leave there. Thankfully that does the job but we had that retracement after the big jump up failing to establish a higher high for our second mountain top.
⚡️ Our third mountain top wasn't any better simply forming a lower low with us now having slipped below 0.485 it'll be a resistance but what should be paid mind to is that ascending channel, we already know it's done it's just and chances are it will do it's job again depending on whether we find support above it or retrace down enough to reenter it and deal with some wild waves no doubt.
⚡️ What's good though is that we regained the 200 EMA and managed to avoid another slip down with whales showing some pretty big buy-in's. And it should be noted that whales are trading XRP more actively so that's definitely been a big attribution to price swing's this week as well. They've definitely got their foot in the pond here so refer to that ascending channel.
⚡️ I said this would be short so that's it for today, I appreciate you guys simply tuning in and reading even if you don't want to leave a like or follow though it does help me no doubt. I simply try my best to share what I can and I'm learning more and more everyday to do my best for you all. Thanks and all the best.
~ Rock '
⚡️ Feel free to compare this to our chart above. Just helps make things a bit simpler to compare and spot but off that it's nice to see that we did break that 0.47421 and just like I noted yesterday, we break out or below the channel it'll be one or the other and in this case we got our breakout.
⚡️ That considered and all, we broke out and things went accordingly to my horizontal levels with us breaching 0.485 to hit that resistance at 0.492, and again as usual these lines aren't new at all, the horizontal levels are levels I simply place and leave there. Thankfully that does the job but we had that retracement after the big jump up failing to establish a higher high for our second mountain top.
⚡️ Our third mountain top wasn't any better simply forming a lower low with us now having slipped below 0.485 it'll be a resistance but what should be paid mind to is that ascending channel, we already know it's done it's just and chances are it will do it's job again depending on whether we find support above it or retrace down enough to reenter it and deal with some wild waves no doubt.
⚡️ What's good though is that we regained the 200 EMA and managed to avoid another slip down with whales showing some pretty big buy-in's. And it should be noted that whales are trading XRP more actively so that's definitely been a big attribution to price swing's this week as well. They've definitely got their foot in the pond here so refer to that ascending channel.
⚡️ I said this would be short so that's it for today, I appreciate you guys simply tuning in and reading even if you don't want to leave a like or follow though it does help me no doubt. I simply try my best to share what I can and I'm learning more and more everyday to do my best for you all. Thanks and all the best.
~ Rock '
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