My last market report and prediction was correct, and XRP dropped once it hit the ceiling. Has been dropping for 2 days, since, and has been in a consistent downtrend. Possible bottom.
Broke through into the red channel (on the fib retracement), and has been bouncing in there for a bit. Bottom of channel may be a market bottom, and may act as support.
MACD showing some indecision.
RSI showing an oversold market.
XRP nearly at its lowest of lows, for the past couple months.
Technical analysis (4H):
Some double-candle [possible] reversal patterns: two haramis and an inside-out pattern.
Spinning top candle with massive resistance portrayed. Possible reversal.
Fundamental analysis:
New XRP securities offered in Asia.
Whales starting XRP hedge funds.
Actions to take (BUY):
Wait until reversal, or until, and if, XRP hits bottom of red channel (on fib retracement), and wait for bullish confirmation candle(s).
Pay attention to RSI; wait for it to go back into its "channel."
β Nio Pomilia
All of my market reports, and predictions, are based on prior knowledge ofβand sufficient experience withβtechnical and fundamental analysis, critical thinking, and logic.
Disclaimer: I am not a financial advisor; this is not financial advice. Any losses of yours, I am not reponsible or liable for. I am not recommending that you execute any of the trades or investments that I personally make, neither the ones mentioned of, in my market reports.
