Edgy_
Long

Ripple in Ascending Triangle

BITFINEX:XRPUSD   XRP / U.S. Dollar
Hello my dear Ripple (XRP) traders, hope you have a nice weekend guys!

Ripple is right now in an Ascending Triangle: We are making Higher Lows, but we have the same Highs,which come in at 60 cents, 0.628 conservatively.

Should we lose the Ascending Triangle to the downside, this will turn into a more prolonged equilibrium, where we have either 0.535 or 50 cents as the bottom support.

Also, we look at Ripple in direct correlation to Bitcoin , XRPBTC . Bitcoin is right now at critical 6.800 yet again.

Have fun watching! ;)
Sep 23
Comment: Right now attempting to make 0.555 to our new 4H Higher Lows. If it upholds, we're looking at 60 cents again: The slope of the Ascending Triangle just got more flat in that case.

If we cannot manage to make 0.555 to new Higher Lows, we're looking at 0.535 and respectively 50 cent previous support, which (like I described already) gives us room for further consolidation and a nice equilibrium forming.
Sep 24
Comment: 0.535 didn't hold as 4H Higher Lows, so now we're looking at 0.51. Hourly RSI touched oversold the first time after a run up, 15min was in teens: Always a good spot to look for entry. If 0.51 doesn't hold, of course 50 cent is the last resistance, to make an equilibrium still possible. If 50 cent breaks: major consolidation coming.
Sep 24
Comment: We broke out of the equilibrium of consolidation bearish, and have reached Hourly oversold yet again -this is little bit too much oversold than the bulls would want. RSI 15 in the teens again. But to be clear: The equilibrium on the 4H is not lost yet, as long as we can close above previous 4H at 0.492.

So that means two options now: Either the bulls show us some strength from this oversold bounce with clearly moving back into the equilibrium range mid 50ies, or the bounce fades away just like before into a bear flag/descending pattern: yet another bear break of that would be the definitive break of the equilibrium.

Just as the previous Hourly oversold, this is another chance for building a position.

Sep 24
Comment: Bear Break: Now where're looking to form a 4H Higher Low compared to 0.311: We haven't build one since then.

Also clearly broken 4H 12 & 26 EMA. But, much room on the daily EMAs still. As long as we don't see increasing bear volume & breaking the daily EMAs, bulls are still in control.
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Good day, I want to buy $5,000 of XRP. Do you think I should wait until XRP drops a bit lower. Wish Iā€™d bought before the mini spike when it was at $0.32. Thanks for your videos. You rock!
Reply
Edgy_ CryptoSandro
@CryptoSandro, Thx for watching & glad that you have some value buddy.

I have *no idea*, what your game plan or your personal situation is, what your risk appetite is, and most important: if you're a HODLer or a (swing)-trader. As far as 'Wish I'd bought ..' goes, you're FOMOing: I don't think that you're interested as HODLer (otherwise you would'e done your homework already/ would be holding XRP), but it seems you're interested in making money with it only.

Therefore, please be aware that even swing-trading has nothing to do with HODLing, as you're entering the space of casino & probabilities, which could be the wrong department for you. If you want to be a trader, you have much homework to do regarding statistics & probabilities. You have to know your risk2reward, aso.

=> So as far as trading goes on the 4H: We have clear support & resistances for that timeframe, which would effect the daily timeframe maximum. => Technical analysis on the 4H chart cannot predict what the price will be in 2 weeks from now, esp. not with pumps like these going on right now. Either we could be up a huge amount until then, or we could've completely collapsed.
+1 Reply
@Edgy_, I think this is a typical pump. Lets see how high it goes before it dumps. I have a feeling we might see .30 again
Reply
Thanks a lot for sharing. This pattern helps me with identifying what I am looking for on the XRP charts.
+1 Reply
thank you so much. i like watching your videos .it good for us newbies lol
+1 Reply
Edgy_ dothethang
@dothethang, thanks for watching buddy, glad you have some value! ;)
Reply
In one of your previous videos you were willing to acknowledge when fundamental analysis took over TA. True objectivity. Hat's off to you!!
+1 Reply
Edgy_ JSithamb
@JSithamb, Sure, if we disregard fundamental analysis in this market, we're literally blind on one eye: No one can say with a straight face those pumps out of nowhere happen due to Technical Analysis.

Having said that: The beauty of TA is, that even in those pumps, the moves themselves happen according to the laws of TA, of support & resistance, and of course nice patterns, which we than can be trading, in the same direction with the whales, who are pumping it.
Reply
Thank you Jack! As a newbie I really appreciate general tips on trading you give.
Reply
@mstdz, You're welcome buddy, glad that you have some value! ;)
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