Bitcoin dumped yesterday and like ive mentioned before, the alt coin market went with it.
In a much shorter time frame than my previous ripple chart, we're looking at a bear pennant formed (symmetrical triangle). Showing all the signs of a dump, but like we already know, we need confirmations before putting our money where our brains are.
Set an alert for a bar close below the lower support line of that bear pennant. This is a scalp move guys, so tight stop losses and TAKE PROFITS need to be in place - figure out your Risk Reward levels and set them accordingly.
Ten Likes and I will update the chart Intelligent disagreement welcome Good Luck - See you on the trading floors
It's a descending wedge and the price will bounce to 0.745 before going lower.
WillNixTrading
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@Canardator11, On what time scale you looking at?
I was tracking a long descending wedge - however, when bitcoin move down yesterday, so did all of the alts - Ripple included . . .
Ive seen many Bear Pennants fail before - but on the 30 min - I see a definite bear pennant -
I am NOT in a position at the moment. If price breaks above my symm triangle significantly, i would scratch my chart for sure.
Good Luck Friend
jdjdhdj
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@willn12416, I'm on xrpeur bitstamp, 15mn, and it's clearly a wedge, but i don't take care of the wick. A pull back is very very likely in the next few hours, for me... My fib retracement said that the resistance is srtong here, the price need a pull back before testing this level again stronger.
WillNixTrading
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@Canardator11, Do you have a Long Open?
jdjdhdj
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@willn12416, I wait a little move down and I go long to 0.74usd. Sorry didn"t see your chart was xrp/btc
WillNixTrading
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@Canardator11, ahh makes more sense.
WillNixTrading
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@willn12416, i wrote the ticker wrong in the headline -