The following is an analysis of the probable price movement of XRP before, during, and after the #swellbyripple conference Oct 16-18 in Toronto:
The price movement from the 2017 #swellbyripple conference. Buy the rumor. Sell the news.
Price movement going into the 2018 #swellbyripple conference. Although movement is just as volatile as this time last year, it's not identical (...it shouldn't be). However, the similar "Buy the rumor. Sell the news." setup is showing.
In the last 2 weeks, the wingtrades.com alerts on XRP has profited well over 100% making people thousands of dollars. In order to protect that hard earned capital, I am taking my XRP position off the table to buy in at a lower price. Although I expect the news at the #swellbyripple conference to be ground breaking, the market has a history of "selling the news".
I'd rather miss out on profits on a push here instead of losing tens-of-thousands of dollars when the probability is not in my favor.
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Just as we expected, XRP is taking a serious hit this morning...
Buy the rumor. Sell the news!
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Solid 9% pullback since our analysis!
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Analysis - Time period ends here. Congrats to everyone who took profits with me on September 30th!
Looks like we're simply resetting the RSI for the insane bull run IMHO.
BuyPennyCrypto
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No one is actually gonna 'sell the news' before the news are even announces! What is Bill gonna say? What will Brad say? What partnerships will be announced? All shall be revealed and the price shall move accordingly. My bet is this morning's move was the simplest bear trap of them all....