Krystiannwk
Long

Ripple interesting price action 4H chart

POLONIEX:XRPBTC   XRP / Bitcoin
Bitcoin is on the rise when I'm posting this idea. Orange ticks marked double bottom formation which is holding pair above this level. As you can see important Fibonacci level 38.2%(combined with round number 3K) was rejected 13th of April. Pair is in consolidation for few weeks. Market is respecting support at 2600 which could be use as the Stop Loss area. It is seems to me that pair is trying to leave triangle which is suggesting bullish movement. Theses days shorts on any crypto are not really good idea in my opinion. There is more chance that pair will go north or consolidate then will go down. The 38.20% area is important here and if broken it will increase chance that pair will hit 61.80%.

I see three possible outcomes here :
(I'm think that first two are much more possible than the last one)

1.Pair will break 2600 and go down to meet 200 ema and or 2000 level just to bounce back
2.Pair will never touch the support again and will go north towards 61.80% level
3.Pair will go down break the support 200 ema 2000 level and will try to reach 1k.

Looks like outcome 2 is playing out?
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Krystiannwk rjmacarthy
@rjmacarthy,

well after it will escape triangle with nice bullish candle but anyway I bought it at this level
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I bet on 2 outcome
Everything will be ok!
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@bdhchtt,

Based on my experience pair seldom is waiting for traders and leave them with bad risk/reward ration.
I think it is good idea to split stake in two and enter now with half and if the price go lower enter with another half
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