Experienced trader Peter Brandt warns that Altcoin XRP payments are at risk of traffic at a huge surrender event.
The legendary trader informs his 781,500 followers on the social media platform that XRP creates a head and shoulder pattern (H&S) on the daily chart.
The H&S structure is a declining pattern indicating that the assets have lost the momentum to maintain its upward direction after failing to print high levels of new.
According to Brandt, the declining structure will be nullified if XRP ascends above the key resistance level. Otherwise, it is He says XRP at risk of breaking support at $ 1.90 and watching a waterfall event.
Do not shoot the Messenger.
Beanie Baby/Pet Rock shows your favorite H & S classic. This can become upward if 3.0 dollars are exceeded, otherwise the effects of it are a decrease to $ 1.07. If you have a problem with this, take it with Magee and Edwards.
XRP. “
At the time of writing this report, the XRP value is $ 2.12, a decrease of more than 3 % a day.
Looking at Bitcoin, Brandt Warn BTC has turned from a declining continuation pattern after losing $ 85,000, and is now likely to go to less than $ 70,000.
Do not shoot the Messenger.
Just report what the scheme says until he says something different. Complete a 2x wedge with a double summit at 65,635. “
At the time of writing this report, the BTC value is $ 82,791.
As for the S&P 500, Brandt He says The securities market index is now in the “dowry trend in force” after stirring the level of support of 5864 to resistance.
“The 2x target of 5,170 is a suitable correction by 18 % above.”
As of the closure of Friday, the S&P 500 hovers at 5580 points.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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