caymantrading
Short

XRP/BTC - Short (Conditionally)

BITFINEX:XRPBTC   XRP / Bitcoin
• Rallied 25% amidst strong bearish price action throughout rest of market, still up 18% on the week --> Excessive upwards move for such a large cap coin
• Stochastics trending down on hourly with bearish divergence on larger timeframes
• Tried to rally about 10000 range for a second time, rejected
• Buy volume weakening, sell volume increasing
If it reaches previous resistance and breaks (9250-9350 range), great short opportunity
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