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Sunday, August 23, 2020

Critical Pivot Points Coming in 24 to 48 Hours?

Critical Pivot Points Coming in 24 to 48 Hours?

XRP / Dollar BITFINEX:XRPUSD

GANG,
I have a special treat JUST for the XRP Army today! Here's my technical analysis for August 23rd, 2020, and a CryptoPro video that is focused solely on this analysis. Let's get into it!

I think we could have a pivot on the Light Red 2.618 fib circle ring, OR the 3.618 of the Light Green fib circle set. Either one of these could dictate the direction we go. Take note that I have the dark green descending base line that is below the current price line. This is what I believe to be a critical base of support, should a correction take us that low. IF the pivot point sends the price down into bargain land, I think we will settle at this line and be safe. Looking at the stochastic , we are in neutral territory. But you also notice that the Blue line is about to overtake the Red line. If that happens, the stoch will reverse momentum and start heading downwards. Then once the stochastic bottoms out and falls below the 20% oversold boundary, we'll find out what the corresponding price is.

I'm hoping for a correction to the 200-day EMA and no lower. But that descending green line is the lifeline. Bouncing off of either the 200-day EMA or that lower green line will confirm that we are still in an overall upward bullish trend . Looking at the volume , it's quieting down. This is normal. Volume will decrease until we get to a critical pivot point , where the price breaks out or drops like a rock. So it's all set up for some kind of move. If the move is a break to the up-side, I would look for one more correction before the big move.

In my next video, I'll talk about the stock market, the talk about another massive crash, the strength of the US Dollar , what the DXY chart tells us, and how this affects Digital Gold ( Bitcoin ), Real Gold , and the crypto market as a whole. Until then, don't be takin' nothin I say as financial advice! I told yall not to do that!

Now go watch the video!

Carlton Flowers
The CryptoPro
XRP Update Video



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