Breaking below .485 could send us towards .45 then .40.
I even can see a case for a retest at .33-.34 in a worst case scenario.
However, if 2017 taught anything is once XRP begins to climb a short strategy is a quick way to get rekt. The true short trade was weeks ago in the .70c region.
Certainly there will be pull backs with volatile opportunities but in regards towards the macro trend I think the party is far from over.
don't expect a v shaped recovery on this one....long stages of flat price...has been its history after price dive...
MitchMilli
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@lrae2018, I agree but not when it finally takes off. If you wait around to catch that move you will likely miss it. Happened in 2017 that’s a fact. Best wishes.
ttran123
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Yea, for example the ETH shorts have been constantly wrecked..... like how many times people were shorting it with the expectation of 480 and 420... and it keeps dancing around but with an upward trajectory overall.
MitchMilli
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@ttran123, I shorted xrp in 2017 @ .20 cents.. so I learnt a lesson. Luckily I longed some ETH around $7.. just not nearly enough lol. Best wishes to you!
ttran123
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@MitchMilli, Oh wow lol. But yea now I learn my lesson too, only leverage long when price dips ALL THE WAY to touch the bottom line of the channel :(
TommasoGhajar
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Regarding the macro trend, I'd say the next aggressive move up is only about 4-6 weeks away. Crypto regulatory clarity is just around the corner. The party is just about to begin
MitchMilli
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@TommasoGhajar, I completely agree! You have to be blind not to see what is unfolding before us. Scared money will seek safety on the sidelines only to get smoked by ever inflating fiat with mere percentages of the purchasing power it initially started with. It was an inevitable fact that we would reach this point all along due to the nature of the debt system. Print money 24/7 and still come up short. Glad to know you have the guts to play the game. It’s a filthy game even on its best days but what choice do we have? Best wishes to your savage dreams..
Gaengphed
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@MitchMilli, crypto or real estate in the Netherlands are the only assets to create more wealth.
MitchMilli
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@Gaengphed, same in US. E-commerce is an option but that’s mainly overhyped shite products and my hearts not into that. Real estate and crypto make a killer combo. My personal bread and butter. I have family near Amsterdam. Best wishes.
Actually...it's not such a good idea buying up all real estate and sell it for higher prices. Young people are having a hard time finding a house that they can buy. This is going to become a VERY big problem in 10 to 15 years when all kids just live with their parents.
I'm hoping to find a break for our kids buying crypto now and have something for them in the future.
Best wishes too and stay safe! We just went into lockdown #2...