several targets here, 3 bearish to 1 bullish. bollinger bands are squeezing indicating a change soon this is not a massive green pennant marked in green. that dirty wick made sure of that although, we did get a bullish blue triangle inside the the red bearish pennant, which could mean there's room for another push up. but then what, a touch on 0.7 will create a bear flag, putting the target back 0.27... ouch! that would suck because then we would almost have a tripple bottom, which doesnt seem to happen all that often in crypto.
so if XRP does get back below .30, i would once again find it hard to long... but i probably will with tight stop losses
loved the XRP pump, but this is not looking sustainable.
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Thanks for reading everyone. As always, I would love any feedback our constructive criticism.
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onestepcreative made a good point in that .46 zone has reasonable amount of support. I would say that support zone extends from .42 upto .51.
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expanding wedge on the 1 m, possible reversal
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could be a flag, price can't break .51
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hidden bearish divergence. bearish pennant
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carefull here! this has many reasons to go either way.
We had a nice bounce of the 0.46 area so far, hoping it will hold!
BlakeWissemann
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@onestepcreative, yeah buddy, getting some mean hidden bearish divergence on the RSI tho. I've been playing the divergence for awhile and can't say it's been all the profitable lately. RSI is rising and the price is struggling to climb. hidden divergence is continutaion and simple divergence is reversal as i understand. stoch chart ma is high, telling me to sell. MACD also showing hidden divergence. interested to see how this plays out.
BlakeWissemann
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@onestepcreative, my bad, i was looking at too low a timeframe (with the divergence call). on the 1hr - 6hr. MACD and Stoch enerted buy territory. RSI is oversold on hour and midzone (bounce zon 45-55) on the 6hr. TD sequential is red 9 and 6's on the 2,3,4,6 hr which to me calls a reversal (not neccesarily big a small). Nice call .46
BlakeWissemann
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@onestepcreative, you are the man! without your help, i may have missed this little bounce here. lets hope it's not so little. if this descending wedge plays out, it's puts the target between 0.56 -0.59. you can always add a bit of fomo and subtract a bit of manipulation, but the patterns are playing out beautifully
onestepcreative
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@BubbaGanoosh, glad to hear it man! I filled up my bags around 6800($0.435) - 6900($0.441) sats and was able to unload some of them around 8000($0.512) - 8100($0.518) for more than 12% gains! I'm watching this pull back right now, looking to see if we'll get another bounce at the 7650($0.489) - 7481($0.478) area, which corresponds to the 0.5 and 0.618 FIB level respectively. We'll see how it plays out, Good Luck!
BlakeWissemann
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@onestepcreative, sweet brother! yeah, i didnt think it would get up to .55 so quickly. im glad i fell asleep and stop lossed because i managed to sell a bit there on that killer red 9 (15min). not so sure if this is the turn around yet. higher time frames seem to want to push the price a bit lower. but, im not ruling it out. just enjoying getting a few scalps in for once.
onestepcreative
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@BubbaGanoosh, yeah, I feel ya. higher time frames, especially 1D and 2D show pretty high RSI, and will need to come down in order push higher. I honestly didn't expect to hit the 0.44 - 0.46 range so quickly, and thought we'd have a cooling off period over a few days at least. Just watching everything closely right now, scalping is what makes trading fun for me!
BlakeWissemann
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@onestepcreative, .4787- .4718, if it falls below that zone, ill be looking much lower
onestepcreative
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@BubbaGanoosh, with the fall down to 0.46 being so fast, retesting the 0.30 range very well might be more probable, like @rusticrock had said. 0.46 is a long time support, and if we drop below that, I think the 0.37 area would be the next line of defense. Either way, we are heading into Q4 which historically, has seen bullish runs for crypto 4 out of the last 5 years. A fall to 0.30 would actually be great so we can get XRP on sale before entering a bull market, haha! I like the collaboration here guys, lets keep it going!
manjotsbajwa
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I think we might see .25 to .30 again. This was clearly a massive pump and dump setup. I am curious as to where it will top. My guess is .70 to .80 followed by drop probably by next weekend. Do you agree guys? @BubbaGanoosh @onestepcreative