Previous 4hrly is a nice Bull Hammer With BTC dropping, it should be a safe trade as Ripple moves opposite to BTC. After getting stopped on previous LONG, I re-entered a tiny LONG position at 8700. S&Rs -> 9996, 9870, 9724, 9636, 9514, 9385, 9268, 9180, 9087, 8944, 8740, 8582, 8440, 8204 and 7952 Have already Staggered along 8740, 8582 and 8440 with a SL at...
XRPZ18 has been converging into this symmetrical triangle for a while now. Below is trendline which is running since 12th of October. I believe it'll be a decent breakout. Buy -> 9180 Stagger 1 -> 9122 Stagger 2 -> 8941 Stagger 3 -> 8747 SL -> 8710 I'll update the TPs once the buy order is filled.
This can be traded on any exchange including Bitmex. But remember prices of Bitmex will be different as compared to prices on Binance. I'll be trading EOS on Bitmex. Charting here due to lack of historical data on Bitmex Chart. EOS has been forming this triangle for a while now. Has made multiple attempts to break the top. FAILED! I'll be SHORTing it on...
LTCZ18 has been cruising up along this trendline. Keep an eye on it. It's doubtful that it will cross 820. SHORT as soon as it crosses over. Simple Trade.
Current consolidation could go on for another 3 days but in the end I believe BTC has 1 more drop left. Multiple rejections from 4k resistance. Couldn't manage to reach 618. Got rejected there. The downward momentum is really high atm. Forming another descending triangle. Bullish Divergence has been forming on 4hrly timeframe but we have 1 more drop left before...
All the necessary explanation is provided in the chart. My Trade Setup is also mentioned.