crypto_emu
Long

XRP possible incoming bull trap

BITTREX:XRPBTC   XRP / Bitcoin
Serial trend-line breaker XRP now looks well bear, innit. HOWEVER given the slow pace of PA in this daily range I do not expect it to just roll over.

Bull case: Still above critical support, bull div starting to form on the daily. Price needs to break the Weekly resistance @ ~9394 and hold above. Failure to hold above will result in everyone's favourite bearish pattern , Head and Shoulders on the weekly.
Bear case: Not many more retests & breakdowns before we see a substantial drop . A strong rejection from the range EQ would be very bearish .

I expect a small pump to at least the EQ , looking to punt a small long somewhere between 8700 and 8500. A wick to the top of the range is not out of the question, and could still form the right shoulder of the H&S . Assuming this plays out, whether I flip short depends on PA - let's see what happens.
In with the long on this one finally, ascending triangle. Target low 10k.
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This flash-crashed on bittrex, because of this and re-evaluating the support in the 8400-8500 region I decided to cancel my long and wait. If we go lower I expect 8150 - 7900 to produce a decent bounce, if that fails then XRP likely drops to 7000.
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