I come back with the latest update on Xrp, look at the chart.
Xrp has formed the head and shoulders pattern. You can see, the left shoulder, buying pressure has increased, that is good signal. However, from the head to the right shoulder, the selling pressure has increased markedly, with a break out (weak), not strong.
Currently, Xrp is back and retest neckline, this is a very important area. If Xrp goes above the right shoulder, about $ 0.9, that's a pretty buy signal. And if Xrp hits the neckline and turns back, it's a terrible signal.
We need more confirmation before entering, because, as said, Btc has generated a lot of bad signals, and that will have a very negative impact on altcoin.
All about you, my baby whales. Call me Tu !!!
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Look at the circle According to the Dow-Theory, when Vol is expanding with the pulsing wave, and expanding further along the corrective wave, it is the reversal signal. However, we still need more signals.
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We can see panic bot next week
Engulfing candle + vol
Volume decreases on new peak
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Vol is almost equal with every new peak, and I call it a "dirty bot" Moment almost stood still. I have seen this, when Xrp near $3 level. And according to Wyckoff-Theory, it will dump soon.
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're u kidding me?
The price has retested right shoulder, and we almost no Vol at this stage, it's a trap.
I've seen this before, when the mass media promoted Xrp, and talked about the bright future.
I will not repeat that mistake, and my strategy will be Short, Short and Short.