XPRUSD - Bouncing around a bullish flag

9 de dez. de 2020

I noticed this afternoon that XRP has been operating in a slightly downward channel, as it then spikes up toward the heavy psychological resistance at around 0.60 USD. In addition, there appears to be the beginnings of a trangular formation as well inside the channel, which may indicate when it may break further to the upside, or more likely downside given the spark drop is imminent.

The red lines represent areas of expected resistance and selling opportunities, while green are levels of possible support and buying opportunities on the way down.

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9 de dez. de 2020

Nota

Additional thoughts, there appears to be a slow down in the bullish rise when it bounces right around the 'middle' neck line of the channel. This might be another thing to watch out for.