BITFINEX:XRPUSD   XRP / U.S. Dollar
XRP isn't done yet as it seems.

Nice bull flag with 20% profit potential. I already bought at 0.26 but thinking of strengthening my position right now.

Any ideas on this? i'm a novice so feedback is most welcome.
Comment: Shorts are very high at the moment so we should see a lot of shorters exiting their positions, price action looks like it's going to hit the target.
Comment: First wick has touched the target price.
I still see a lot of shorting going, actually at an all time high right now.. People in the last hour pushed the shorts up massively

I am wondering though if the shorts from yesterday are already liquidated, if not it should only take around another 10% increase to really skyrocket the price.
Comment: I've spotted another bull flag on the 5 min and 1 min chart so i believe prices will go well into my target range, but just to be sure i've put a stop loss at 0.35

I've bought at 0.268 and strengthened my position at 0.313 so i'm making profits anyhow.
Trade closed: target reached: Target price reached and breached :D, massive amount of shorts are probably liquidated which made the price skyrocket!
LOL, so many shorts got wrecked with that initial light saber of a wick!
Reply
Bittimmer Solokin
@Solokin, yeah exactly. shorting can put prices on a rocket if their stop losses are reached
Reply
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