Hello my dear Ripple (XRP) traders! Hope your weekend is going well guys ;)
Quick update: We've broken the double bottom try with a perfect & clean break to the downside, giving 8% vs. a 2% risk: I'm gonna show this perfect trade to you. Before that, like I had updated on the latest idea, we had a simultaneous break with Bitcoin & all Altcoins, which was a fake-out & triggered a lot of stop-losses.
Right now, we're on a a descending/continuation pattern on the Hourly/4H: The break of 47 cents could definitely lead to 45, or even previous lows at 0.435. In order to change the trend, we have to break the current 4H lower highs, which come in at 49 cents.
Situtation in XRP/BTC is pretty similar, see the numbers in the video. Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up, because the video gets shown to other people then. Make also sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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The bulls successfully broke the descending triangle bullish, and have to form a 4H higher low in order to see continuation. Obviously we broke bullish in correlation with Bitcoin => Will do a video on Bitcoin just shortly.
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Bulls formed 4H higher lows at 48 cents without follow-through: The bears have broken it down again, and we touched on the same previous lows at 47 cents (the wicks go up to 0.4677). =>Just like with the previous break of the bear channel, we're looking again at the possibility of a double bottom: If the bulls can't manage to form one, the bears can still break 47 cents to the downside as mentioned in the idea. RSI levels are the same as with the previous break. Watch out for grandpa BTC.
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No clean bear break of 47 like with the previous break of 51, as we can see on the long lower wick of the 4H candle. If the bears don't show follow-through, it was just a fake-out.
Thank you very much body for this vid. I love this video, your explain is very profitable for us if it happens as you say.
Please don't forget to keep us update these days lol.
Can you explain on your video with graphics making your analysis because I think there are a lot of people who follow you but who are not good in English :) tahnsk so much.
if I understand correctly the trend is bearish and so wait 0.45 or 0.43 pure recovery or see a break 0.49 for up :) is that well .(Google translateFrench to English ) :)))))
Edgy_
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@xozd, Haha, thx for the suggestion buddy! Will keep that in mind.
About XRP: yess, trend is bearish on the 4H, to change it the bulls have to break 49 cents to the upside.
CryptoSandro
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Trading is so fun and exhilarating. I really enjoy it. I just have to have more wins then losses because it’s easy to lose it all on a handful of trades. I’ve gotten much better at understanding charts. I know it takes time and you must have put in lots of time to be so good. I sold my businesses so I have all the time in the world to learn. I just gotta learn it better quick before I lost more crypto or money. Best wishes.
Edgy_
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@CryptoSandro, Definitely buddy, it takes time. Take very low risk until then (never more than 1-2% of your whole account until you get stopped out on a single trade). It's nothing else than a casino/game of probablities: you wanna have 60 out of 100 trades correct (best case). I'm working on educational material & tools for trading right now, will tell you once it's ready! ;)