For the past two runs of ~70-100% gains, XRP has consolidated heavily on the 2hr chart as well as form a fairly consistent daily bull flag. These last couple days have seen us form a strict flag down from a last huge run up with the exception of the extremely long tails on the candles of the first 2 days... Which to me can be discarded from the huge drop in BTC that manipulates the whole market. We held our own fairly well and just had some shaky moves during it and had the volume to buy back to normal fairly quickly. If the pattern continues we may be able to see a 70% movement here in the next day or so now that we have broken to the outside of this daily bull flag.
Volume looks strong- our second green candle for the 2hr hour chart is starting to creep close ( currently 12m buys) to the same levels as the 2nd candle that shot us up last time at approx...16m buys for the candle.
Bull flag isn't charted- Zoom out to and you can see pretty easily.
As always please double check and only trade on what your analysis confirms and what you are willing to learn.
Any constructive feedback, comments, or questions is much wanted!
Thanks! Happy Trading and best of luck
Volume looks strong- our second green candle for the 2hr hour chart is starting to creep close ( currently 12m buys) to the same levels as the 2nd candle that shot us up last time at approx...16m buys for the candle.
Bull flag isn't charted- Zoom out to and you can see pretty easily.
As always please double check and only trade on what your analysis confirms and what you are willing to learn.
Any constructive feedback, comments, or questions is much wanted!
Thanks! Happy Trading and best of luck
Comment:
Taking some profits here. Like clockwork we have pushed up to 1.7
Comment:
Forgot to mention we are waiting to see the next few hours to see how this played out and see if we are going to stay in or if the much needed correction will happen.
Trade closed manually:
Out at $1.68 what a fun ride. Don't get greedy seems to be getting choppy after finishing wave 5.