Hey crew, sorry for not publishing in a long while, been busy coding trade interface stuff and getting Pythonic
So here's a quick update on the crypto beauty XRPaaaay
1. This Fib channel sits nice on a longer term trend and the price action / conformity is pretty snug
2. The 200 EMA could hold but let's face it, XRP usually dumps deep after most pumps and I like the 50 EMA as another good DCA entry with the possibility of a full retrace to the bottom of the Fib channel
3. The 50 could possible cross the 200 and send a buy signal across the boards on a golden crossing.
4. XRP news is fire right now and the whole SEC regulatory thing is sparking things a bit, but keep in mind that price action usually precedes street level news (buy the rumor, sell the news) so be aware of what's really going on.
5. I still think the dark pool lords could wick us all into the abyss but it probably will happen quickly so I have buys all the way down to garage day levels.
I personally do not use stops in crypto because of this reason but conventional wisdom says don't do this. Regulators are looking for more and more reasons to ruin the crypto party, squash your gains and invade your life so I would not put it past them to work behind the scenes to zero everyone out and then introduce 1000000 new rules all in the name of "consumer protection" lol. They really do think everyone is stupid.
Been scalping over here and this latest pump added some decent quiche to the buffet.
Stay frosty friends and catch you soon!
So here's a quick update on the crypto beauty XRPaaaay
1. This Fib channel sits nice on a longer term trend and the price action / conformity is pretty snug
2. The 200 EMA could hold but let's face it, XRP usually dumps deep after most pumps and I like the 50 EMA as another good DCA entry with the possibility of a full retrace to the bottom of the Fib channel
3. The 50 could possible cross the 200 and send a buy signal across the boards on a golden crossing.
4. XRP news is fire right now and the whole SEC regulatory thing is sparking things a bit, but keep in mind that price action usually precedes street level news (buy the rumor, sell the news) so be aware of what's really going on.
5. I still think the dark pool lords could wick us all into the abyss but it probably will happen quickly so I have buys all the way down to garage day levels.
I personally do not use stops in crypto because of this reason but conventional wisdom says don't do this. Regulators are looking for more and more reasons to ruin the crypto party, squash your gains and invade your life so I would not put it past them to work behind the scenes to zero everyone out and then introduce 1000000 new rules all in the name of "consumer protection" lol. They really do think everyone is stupid.
Been scalping over here and this latest pump added some decent quiche to the buffet.
Stay frosty friends and catch you soon!
Trade active:
Possible Gartley situation here. I grabbed some at 0.447 (missed my 0.435 target by a sliver). Possible target are "D" and then if it continues to pump, we're looking at sub 0.70ish. Good luck friends :)
P.S. from Glassnode :
"Hashrate Hits New Highs
As global equity and bond markets continue to tread challenging ground, Bitcoin hashrate defies the odds, pushing to yet another all-time high.
Bitcoin has been trading very close to its estimated cost of production price since the June sell-off.
The Difficulty Regression Model is hovering at $18,300, and signals a potential threshold for acute income stress in the mining industry."
Hashing has kick up apparenetly
P.S. from Glassnode :
"Hashrate Hits New Highs
As global equity and bond markets continue to tread challenging ground, Bitcoin hashrate defies the odds, pushing to yet another all-time high.
Bitcoin has been trading very close to its estimated cost of production price since the June sell-off.
The Difficulty Regression Model is hovering at $18,300, and signals a potential threshold for acute income stress in the mining industry."
Hashing has kick up apparenetly
Trade active:
Quick edit to the last update . . removing the Gartley from the equation since it's conformity isn't that spectacular although there's still a harmonic nature to the latest range.
Looks more like a bull pennant breaking out as we move up and above the 200 EMA and the golden crossing looks better and better each day.
Strategy here is to scalp TP up around 0.52 (or lower) at the channel line and then we may reaccumulate using a buy stop if it break up into the 1.618 Fib extension channel with a TP around 0.68.
Good luck and as always, "Not Investment Advice" . . DYOR :)
Looks more like a bull pennant breaking out as we move up and above the 200 EMA and the golden crossing looks better and better each day.
Strategy here is to scalp TP up around 0.52 (or lower) at the channel line and then we may reaccumulate using a buy stop if it break up into the 1.618 Fib extension channel with a TP around 0.68.
Good luck and as always, "Not Investment Advice" . . DYOR :)
Trade active:
still bullish on XRP but we've got a Bulkoswki "three white soldiers" candle pattern going on so don't get punk'd frens . .
Trade active:
So I TP'd around 0.5 (had hoped to hit 0.508, it hit 0.506 :/ ) and holding a longer light bag atm. I like the 50 EMA now and won't enter higher unless we break out into the upper 1.618 Fibonacci extension range. It would also not be unusual for XRP to dump (like it always does after most pumps) so I've got the pipe filled for a John Wick liq event. Bitty is struggling and I'd considered a scalp yesterday but not until it broke above 20,500 which it sadly rejected the notion of. Stay frosty friends!
Trade active:
XRPaayy is looking a bit double toppy and to be expected as we tested the most recent local high as resistance. There's still an inbound golden cross BUT after two days of distribution and Bitty just fingerbangin' the 19k (drop imminent?) we could be looking at more buying opportunities of X at the lower Fib chan levels and for sure off the 50 EMA. Have a look and stay frosty!