rgeddes

Ripple Is Back To Life - Short Term Sell

BITFINEX:XRPBTC   XRP / Bitcoin
XRP is in for a short term drop.

XRP has been moving unpredictably which is what has made it predictable in the short term. Instead of moving lock step with BTC it seemed to be doing its own thing and not in a good way. - it was clear to me that it was undervalued . I saw it in the charts - but after trading this thing for years you get a bit of a rhythym going and can "feel" things. This week was very frustrating - I had my big sells at 61k today - if I had set it a bit lower I'd be looking at a lovely buy back. Now it seems ill have to wait a day or two to get there. I had to go out for a few hours and missed it!!

We seem to be trailing down where we will double bottom and move up. Ripple is definately overbought against BTC in the short term. We are going back to 61k but the current pattenn looks like it will double bottom rather than build.

Learn from my mistakes - unless your watching in real time - crytpo can pass you by and turn a short into an unplanned long- be a little less greedy on the sales and cheap on the buys unless you are longing!

Thanks to everyone who messaged me on the last few charts. We're inching towards some higher longterm prices.

Comments

Great write up my friend. Thank you very much.
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