Im bullish on XRP but further downside might be in play $0.80

Hi Guys,

My previous idea said I was 'Bullish on XRP - Pathway to $2.80' which is linked below. This idea hasn't changed however, I didn't quite see that price was also being constrained potentially within a descending wedge and further downside might be in play to complete an ABCDE correction.

• Price is really sitting a precipice right now and could either go up as per my bullish scenario, or it could go down one last leg before heading up.
  
• I would wait until price is between $1.05 - $1.10 to consider a bullish scenario.
  
• Price is sluggish around the $1.00 mark so it is possible to roll over.
  {*] If further downside is to be had I do think it is one last leg and then my bullish scenario to $2.80 will be in play.
  

Kommentar:

Drilled down to the 15min chart to see what price was doing, it appears that price is working within a descending triangle which could be bullish to $1.03. Resistance at $1.07 zone so price can still pull back.

Kommentar:

TheE wave has fallen through support, and price is now re-testing the descending wedge. It could bounce and go up or price can continue downward. There is Hidden Bearish Divergence at play presently, and price action is bearish.

Kommentar:

Price is now back trading inside the Descending Wedge. I am now targeting price ranges of $0.84 and $0.80.

Trade geschlossen: Stop wurde erreicht:

Price is decidedly bearish.