ridethepig | XRP Market Commentary 2020.02.13

A timely update to the daily chart with risk entering back into the picture it is a healthy profit taking leg in play for buyers. Those who have been loading at the lows can finally begin to cover and open up some sell-side opportunities. Expecting a day of consolidation and then some more cooling off from the impressive rally.

The squeeze is still very clear and I think it makes sense at these levels to outguess profit taking from the buy side. I don't think this is anything other than a mini bounce. Early selling from the usual suspects on the London open but since once again the algo machine buying 0.30 seems to be buying in huge amounts. Will watch closely, the intention is to continue trading the leg higher with a modest short-term short.

As usual thanks for keeping the likes and comments rolling!
Feb 14
Feb 18
Comment: A BTFD moment in play here... Buyers in full control, look to add longs on dips


stay away from shorts in this market, only look for long positions ;)
+3 Reply
ridethepig NinoMastermind
@NinoMastermind, will look to buy the dip this week once we clear the extreme risk-off sentiment
+1 Reply
HA ha ha ha ha! "Ok."
ridethepig xrpanalist
This beta tho @xrpanalist
how are you

ans thanks for the idea
Thanks @profcoin all is well, hope you are too!
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