New Consolidation Period

First significant rise since the last ATH high. This is the beginning phases of what could potentially become a large consolidation triangle. XRP has loved these.

For now I have placed a buy @ $1.85
Comment: If my ideas help you out tips are appreciated:
XRP Wallet:rhd2S5eL97Wz5JC8KFRnGtht1jUs7YymB6
Well this was a much quicker correction than expected. And xrp didn’t really consolidate as the pattern usually does. It busted out above with ease and off and running! Enjoy this ride! Cmon $4!!!
I think shorting xrp is not the way to go since it’s been so strong and resists big dips that allow for big short gains. Every few days the prices you could Waiting on to drop for better entry point become a distant memory.
HODL xrp For at the the foreseeable future. See no reason to sell at all unless you’ve got your crypto game down solid. And if your savvy the only reason to sell would be o buy back even more again afte corrections. Easy money to sit and ride tho.
+2 Reply
you mean it will come down to 1.85?time to sell XRP?i bought at 2.2
AJKrypt ostadpepe
@ostadpepe, NO DONT SELL! Good god don’t sell! Learn the patterns if you are in the short trading game! Otherwise you will get eaten alive.
Bare with me here. follow along the Penant triangle on his chart. It will look similar to the previous 2 flag penants before it-but bigger. As the triangle gets narrower it means xrp is consolidating. The highs get lower and the lows get higher. (Inside the triangle pictured imagine the chart line bouncing up and down staying within those lines)
So $1.85 looks to be the lowest it could be until eventually meeting around the $2.15 price it seems some time between jan 8 and Jan 15. Meaning that’s the lowest price we will see for buyers who are jumping in before it moons again. Which it most certainly will!
When you see these flagpoles form you can expect a large rise right at the end of the consolidation. Keyword here is “flag” but also “pole”. These large rises generally occur following a previous large spike (the pole) and a consolidation period (pole). As you can see XRP has the hots for the flagpole patterns.
Buying at $2.20 is money in the bank.
When it jumps again agin we can expect $2.85 ish. But xrp has strong holders and very possible to bust above the psychological $3.00 mark. If that happens it could end up anywhere up there.
Also between now and then these huge coinbase rumors may very well come to fruition. If so expect another very large very quick spike simply from the gazillion of curious crypto traders who use coinbase but haven’t dove into the alt coin trading wormhole like us. The thought is very logical. They have currently 4 coins available on coinbase. If coinbase adds xrp amd a couple others they will no doubt jump on without thought. Seeing $15,000 for btc, $800 ETH and those high numbers can seem overwhelming to an occasional investor. But then they’d be seeing a coin gaining in popularity that’s under $4.00?!?!
It would be a direct vertical line straight up initially with all the new buyers joining in. Hold on to your butts. Because XRP will be taking us on a ride this month!!!!
TRX is another cheap coin the new buyers are getting behind with big plans for January. Another week or 2 and you’ll be wishing you got in under &0.10. Hope this helps. Good luck
+3 Reply
AJKrypt AJKrypt
@AJKrypt, I also disagree with chart somewhat though. I think the initial massive high and huge corrective dip were not true to the pattern and sorta cancel each other out. Making this flag penant not as large. Meaning it will breakout and rise again much more quickly then stated. Just my opinion
zzavada AJKrypt
@AJKrypt, agree that is a potential outcome! That’s why I mentioned it being the potential start to this pattern. Called it a bit early here with the hope of seeing if it will play out. All we can do is wait
ostadpepe zzavada
@zzavada, yeap its correct,thank you mate
ostadpepe AJKrypt
@AJKrypt, wow thanks mate.as i am new to cryptocurrencies ,what you mentioned above is so helpfull for me,amazing,thank again
AJKrypt ostadpepe
@ostadpepe, when you see the majority of these charts a lot of the patterns (or outcomes) are just assumed. So unless you know exactly what a poster is implying you won’t be able to form your own analysis based of theirs. You’ll see c&h (cup and handle) H&s (head and shoulders) referenced a lot.
It’s tough as this whole world is very new to many of us. Even learning how to do a ‘stop-limit order’ is confusing at 1st. Or what ‘sats’ or ‘satoshis’ are. (Which is just a system to make is easier to refer to decimals of a bitcoin. .00003800 BTC is simply 3800 sats (satoshis) —- just easier for us to type when discussing. The longer your in the game the more things will start to make sense and more tendencies will become clear. (Like any very large jump is usually followed by a ‘correction’ which is when the price comes back down some around even 40%— knowing these things makes short trading possible. And knowing how to determine when it actually peaks to sell off before the correction- maximizing your short gains. *hint - I’ve learned to look at the MACD lines or the volumes along with price rise. When you see an inflection point at the macd line go from rising to dropping, then you can assume the price has peaked and will start correcting and to sell if shorting.
The more knowledge you take in over time naturally the better advantage you give yourself at making successful moves. Shorting is hard man. There’s a lot to account for. Personally I’m mostly in for the long on XRP and TRX. And about 20-30% of my assets im playing in the short game. Currently riding with XLM after taking a hit with XVG (my 1st loss). Always looking ahead at the next move. Good luck again.
ostadpepe AJKrypt
@AJKrypt, good lesson.thanks again
zzavada ostadpepe
@ostadpepe, as @AJKrypt mentioned I would not tell. The odds of winning in the short term are much lower than in the long term. Patientice is key to be successful here! I do not believe we have long until we take off to the next target. I am just trying to gain a few more pennies a coin! :) Happy trading!
+1 Reply
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