Serial trend-line breaker XRP now looks well bear, innit. HOWEVER given the slow pace of PA in this daily range I do not expect it to just roll over.
Bull case: Still above critical support, bull div starting to form on the daily. Price needs to break the Weekly resistance @ ~9394 and hold above. Failure to hold above will result in everyone's favourite bearish pattern, Head and Shoulders on the weekly.
Bear case: Not many more retests & breakdowns before we see a substantial drop. A strong rejection from the range EQ would be very bearish.
I expect a small pump to at least the EQ, looking to punt a small long somewhere between 8700 and 8500. A wick to the top of the range is not out of the question, and could still form the right shoulder of the H&S. Assuming this plays out, whether I flip short depends on PA - let's see what happens.
Bull case: Still above critical support, bull div starting to form on the daily. Price needs to break the Weekly resistance @ ~9394 and hold above. Failure to hold above will result in everyone's favourite bearish pattern, Head and Shoulders on the weekly.
Bear case: Not many more retests & breakdowns before we see a substantial drop. A strong rejection from the range EQ would be very bearish.
I expect a small pump to at least the EQ, looking to punt a small long somewhere between 8700 and 8500. A wick to the top of the range is not out of the question, and could still form the right shoulder of the H&S. Assuming this plays out, whether I flip short depends on PA - let's see what happens.