after the double top formation completed a few hours ago we now see XRP retesting two important areas:
- uptrend line
- support level
if XRP holds the current price it will be in the process of forming an IHS pattern that can put us back up to atleast 46 - 52 cents if the pattern plays out correctly
i will be closely monitoring this setup on the 1H - 4H timeframes and waiting until price breaks above the 9 SMA as confirmation to take my entry
there are no doubts that the probability of XRP coming back up is very likely in this situation, but always make sure to manage your risk and use SL
- uptrend line
- support level
if XRP holds the current price it will be in the process of forming an IHS pattern that can put us back up to atleast 46 - 52 cents if the pattern plays out correctly
i will be closely monitoring this setup on the 1H - 4H timeframes and waiting until price breaks above the 9 SMA as confirmation to take my entry
there are no doubts that the probability of XRP coming back up is very likely in this situation, but always make sure to manage your risk and use SL