The downward triangle was broken down a long time ago, attempts to return the price back failed. A downward channel has formed on the local secondary trend with a rather large step for such a liquid instrument.
The step of the downward channel is about 45%. The tool allows you to work in two directions with a large percentage of earnings and predictable behavior.
Use this to earn money while hamsters with a low level of intelligence wait for $ 100/1 coin. While someone is waiting, you earn. When they stop "waiting" - there will be no earnings. The main trend is bearish.
Hope for "those who are waiting" for the target that they had originally expected when they bought them will appear only when the price breaks and consolidates above the main downtrend line, and this will not happen soon ....
With a high degree of probability, “those who wait” will be “killed in faith” and forced to get rid of purchases at the most “sweet” prices. It has always been so, and I am sure it will happen again.
The channel and the pivot points (zones), and therefore the target, I have outlined on the graph. A very good tool for making real money.
About the downward triangle, and with a 90% probability that it will be broken down, I made a trading idea in July 2019, that is, almost 7 months ago.
A sect is for that and a sect, in order to see what they only want to see. The main thing is to inspire to buy and "hold", and then to inspire to sell. As a rule, they buy at maximums - “managed to buy it very cheaply” and sell at the bottoms “managed to sell before zeroing” “As a rule, crypto sectarians - believers do not have their own opinion, they, like religious sectarians, are completely led. And it feels like intelligence is missing.
Everyone wants to trade on the principle of 1 time bought and you do nothing else and after some time the fabulous fool will become fabulously rich.
Separately, a person from the crowd can be smart and judicious. But it’s worth collecting in a herd of smart and not very smart, then we get what was originally more. Intelligence in a herd of fools is lost. The herd acts like one stupid person.
XRP Descending Triangle. Mirror level like on btc $ 6000 Trading idea for July 2019 (7 months ago).
Updating this trading idea for July, when there was an attempt to return the price back to the canvas of the triangle and the uptrend was weakening.
I wrote that, with a high degree of probability, a downward channel may form.
XRP / USD Descending Triangle (bearish). Pivot points. The idea for November 8th.
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There is an attempt to break the resistance line of the downward channel. If the price consolidates above resistance, a trend reversal is also possible.
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After the channel resistance breakthrough, the price made a move to the main resistance (former support). Profit now is + 15%
I described this scenario in the trading idea, but the most important reversal of the main trend can take place only when the price fixes above the downtrend of the main trend!
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The price dropped to an important zone. This potential price movement I depicted and described in advance in the trading idea. This downtrend may act as support. Further development of the price movement depends on how the price will respond to this zone and gain a foothold above or below this trend line. This movement, by the way, was depicted in a rebus, which PR in Twitter. In the image, colors and numbers - the inverted head and shoulders. But do not trust these puzzles, they are made to confuse. Because that would really be "for the elite" would not be promoted in the social. networks and did not make school level complexity. Always work according to plan, but from the situation.
Trade closed: target reached
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C short entry point + 34%
Trade closed: target reached
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After profit + 34% in short. From the pivot point of the price + 77%. The bullish trend is still ongoing. There is potential.
@ProjectSyndicate, ))))) The price is now at the resistance line of the downward channel. If the price can break through it and consolidate above this line, then growth will probably be possible, but I hardly believe in it.
pennywise_the_sage
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"While someone is waiting, you earn. When they stop "waiting" - there will be no earnings . "
I disagree with the above statement. For us to earn, price has to move. For price to move, people need to trade. So your reasoning is flawed. You earn when people trade, not when they wait.
SpartaBTC
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@pennywise_the_sage, I earn when there are many people who buy and “believe” that someday their purchase will grow many times over. When they cease to believe in it and will not buy for the "hold", there will be no earnings.
pennywise_the_sage
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@SpartaBTC, You are plain wrong. You can long when "believers" are buying and you can short when believers stop believing and sell. If people would buy and hold indefinitely, the price would not move nor up nor down, thus you couldn't either long or short it. You need TRADING to generate price action.