laurekibling

Beatiful descending triangle

Short
BITFINEX:XRPUSD   XRP / U.S. Dollar
XRP had attempted to break out of the big resistance of the triangle but it failed and has retraced in the process, so we could say that XRP is dead lately, already broke that blue curved line, without even a fight, but looks like someone is holding the price at 0.3, so I´ll extracareful with my short. So far I´m out of the market waiting a real breakout to enter, but given the OI that have fallen drastically, I´m more bearish than bullish .

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Checkout my view.

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laurekibling traderview2
@traderview2, thanks for your contribution.
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There is something strange with XRP price for quite some time. I believe it is held low (manipulated). The question is … why and for how long ?
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@MaxL82, You are right, quite stable for too long. My guess is that now we have to breakdown once Bitcoin starts the next correction, which will be very soon. Then ripple could get a really nice bounce up.
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Would you buy ripple right now
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laurekibling xinvested
@xinvested, Not now of course not, but we should watch it after the correction of Bitcoin, just then it could start a nice rally.
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xinvested laurekibling
@laurekibling

Would you buy when it breaks out of triangle ? Then retest it as support ?
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laurekibling xinvested
@xinvested, I wouldn´t buy this pair so far. In my opinion it has to breakdown the triangle and make new lows, the current support wont last much.
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