20191105 XRPEUR Open Short Position

Hi there,

Just and idea after analyzing XRPEUR Movement this year and areas, specially supply and demand, and some chart patterns that indicates the price could go down before it starts up.

Right now, it's starting to curve, giving sign of downtrend. As usual btc goes on the hand of btc and since you may see in some analysis i have made on BTC, this could go down too.

More than once i have noticed volume blocks on Kraken on 0.19 euros. This could be anothr sign too. So, in personal opinion, it could be a good place to open a short position for a couple of months while price goes down to demand area.

Again, Just personal Idea and not financial advice.

Cheers!

Charter X

Comment:

This is RSI and RSIM on 1D Chart and about movement in his history. As you may see, a cycle is about to end, and in relation with price, we haven't see it jumping in the opposite direction. This does not mean it wont, eventually it will go back up, but right now its in major accumulation period, for what i think.

Cheers.

Charter X

Comment:

Hi there,

Just wanted to share an update about this. At the end it was a good call giving 12% of profit. I could leave it there for a while but to reduce risks, in such unsure future for the next month, i canceled orders. Not good to bee too greedy.

Hope it helped you out though.

This is a 5D Chart. Sometimes it's better to see things out of the box to get a general perspective. Right now the first Demand Area was reached. Let's see how deep this goes, or if not.

Cheers!

Charter X