chenb1981

Can buyers overcome the heavy distribution?

BITSTAMP:XRPUSD   リップル/米ドル
The range I have identified in my previous post has been proven to be a distribution range. There is some bullish reacted out of the bullish order block at the 2 dollar mark. However, the buyers are facing a hurdle of heavy distribution at the 2.6 level. Most likely, we will not see price trading above 3 dollars (too many selling) until late Jan when a new wave of capital moves in.

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