A swing trade on 20-21 (for those with time consuming jobs! :D)
One of the patterns that work better for us in Cryptos are clear H&S in weekly/daily charts. (remember ALWAYS to display you charts in Log scale!)
In this case, since march meltdown (Thanks COVID!) we have seen a continuous growth in value for all financial vehicles (money printing? maybe, who cares for the moment, but careful with next year's inflation guys!).
XRP has formed a complex Head and Shoulders pattern, which was confirmed by the trespassing of the neckline in the 11-16-2020 week.
YAY MOON! NOPE!! after the break and seeing the last consolidation triangle loosing that 0.4X area, we expect a successful retest of the neckline.
This will define our direction but remember to take some profits along the minor targets on your ride!
And guys... we are talking here about hundreds %... so get ready for emotions on the ride!
I'm a long term investor but I love this kind of opportunities to do some swing trading :)
In this case, since march meltdown (Thanks COVID!) we have seen a continuous growth in value for all financial vehicles (money printing? maybe, who cares for the moment, but careful with next year's inflation guys!).
XRP has formed a complex Head and Shoulders pattern, which was confirmed by the trespassing of the neckline in the 11-16-2020 week.
YAY MOON! NOPE!! after the break and seeing the last consolidation triangle loosing that 0.4X area, we expect a successful retest of the neckline.
This will define our direction but remember to take some profits along the minor targets on your ride!
And guys... we are talking here about hundreds %... so get ready for emotions on the ride!
I'm a long term investor but I love this kind of opportunities to do some swing trading :)