cryptogabri
Long

XRP/BTC Looking Good For REWARD/RISK Ratio, BULLISH AGAIN ?!

BINANCE:XRPBTC   XRP / Bitcoin
XRP is trying ( again and again) to run away from the main support of 0.000040 BTC in order to fly in the direction of 0.000060 BTC resistence. Generally when XRP does it, moves very fast, however the past days show us that some key level of price are vey hard to break. For This reason i show in the graph that XRP could use two different waves to achive the 0.00006 resistence.
Speculating on its behaviour i' ve found two main "entry level" with relative "target price" and " stop loss", even tough i think the price will probably follow the blu arrow for most of the case.

1° Trade : Buy 0.000044 BTC ; Stop loss 0.000042 BTC ; Target price 0.00005 BTC in long term, 0.000047 could be great in a short term. Reward/Risk = from 1,5 to 3 ( it depend form the target you choose)
2° Trade : Buy 0.000050 BTC ; Stop loss 0.000047 BTC ; Target price 0.000060 BTC in long term, 0.000056 in mediut term, 0.000054 in a short term. Reward/Risk = from 1,5 to 3 ( it depend form the target you choose)

It could happen that the whole bull run will take place in just one day. If the price is missing the first trade remaining above 0.000044 BTC you can go directly to the second trade of 0.000047 BTC

-- this is not a financial advice, this message is for educational purposes only--
Comment: The news of the partnership between Ripple (XRP) e MoneyGram (MGI) moved the price to test the second 0.00005 BTC resistence after breaking the first 0.000047 BTC resistence. However the price was easily rejected and now it's using the previous resistence as support. If the price dosn't hold the 0.000047 level, even after such a bullish news, it means that Bears are still in control, trying to push the price down to the 0.000044/45 BTC support zone.
It's also possible that this news anticipated the recovery time of the price, preparing it to break the 0.00005 BTC and trying to acheave the first strong resistence at 0.000055 BTC. In my opinion it's still required a few more days, like a week, in order to see a real strong move of the price.

Leave a Like it if you agree with me, and keep follow the idea for more trading details! Thanks!

-- this is not a financial advice, this message is for educational purposes only--
Comment: XRP is going to test again the 0.000045 BTC support.
Maybe it could trigger a psychological F.U.D to traders that push the price even down to 0.000044 BTC.
This support is tronger than the previous one. If this happens we should see a clear bottom and so the trade will be activated.
Thus we should see, as XRP usually does, a big spike moving to the 0.000050 level.
If this level will be broken, we could enter in a F.O.M.O zone.
I always raccomand to set up a stop loss and a first achievable profit target.

-- This is not financial advice, for illustrative purposes only. Thanks! --

Give a like if you agree! Or leave a comment for constructive criticism!

If you want to see more chart analysis or updates, don't forget to follow me!

You can find me also in Twitter --> @cryptogabri.
Trade active: XRP is behaving as it was announced :
- Testing the 0.000045 BTC support was pushed down to the 0.000044 stronger support, triggering a buy opportunity.
- The buyers didn't miss the opportunity of this cheap price 0.000044 in BTC, pushing it to test the 0.000046 BTC level, a bullish behaviour supported by the recent news since the absolute value of XRP in $ is increased.

Now : In my opinion a re-test of the 0.000044 BTC level is very problable. It could follow a short accumulation phase before a big move.

I always raccomand to set up a stop loss and a first achievable profit target.

-- This is not financial advice, for illustrative purposes only. Thanks! --

Give a like if you agree! Or leave a comment for constructive criticism!

If you want to see more chart analysis or updates, don't forget to follow me!

You can find me also in Twitter --> @cryptogabri.
Trade closed manually: XRP is behaving as it was announced :
- Testing the 0.000045 BTC support was pushed down to the 0.000044 stronger support, triggering a buy opportunity.
- The buyers didn't miss the opportunity of this cheap price 0.000044 in BTC, pushing it to test the 0.000046 BTC level.

Trading closed manually at 0.000046 BTC.

Now : time to next buy opportunity, stay tuned!
-- This is not financial advice, for illustrative purposes only. Thanks! --

Push the like button if you agree! Or leave a comment for question.

If you want to see more chart analysis or updates, don't forget to follow me!

You can find me also in Twitter --> @cryptogabri
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