Do not let todays bearish movement scare you ⚠️⚠️
If you read my analysis I had a few days ago, you would’ve seen that XRP had to drop.
Remember, follow me and I will keep you updated.
So what happened today ?
We had ISM news , I won’t specify what time it happened, because we all live in different locations.
Yet if you look at technical analysis, price had to respect the trend it was going in 📈
If you looked on lower timeframes today , most people would have quickly jumped on a buy when they say price slightly breakout of the trend at $2.45
Lol, I’m part of them, silly me 😂
Sometimes it’s good to stick to your own analysis. Price rejected the trendline and sold of as soon as news hit. That’s why we saw a sharp drop in bitcoin as well. XRP will be bullish if BTC is bullish. If bitcoin goes down , XRP follows
A lot of market orders were attracted at the 1 day imbalance , so we had to reject trendline and sell off.
What to do now ? Should you buy ?
Well by the way things stand , I say no, but if you scared of FOMO, use SMALL lots in the fvg.
I have marked out 2 important zones traders should be cautious off.
Zone 1: 4h fvg resting within the 1 day fvg at $2.18
Zone 2: 4h fvg resting on the trendline at 2.05
The smart move would be to wait for the market to retest trendline and buy at that critical point at 2.05
However if the current fvg send us off flying , then wait for price to break trendline and push to the upside.
Trading in between will cost you unnecessary drawdown or even loss. Trust me , I felt that today.
Anyways , this is my own personal analysis, Do your own research!
Will keep you guys updated
