this thing is about to break one way or another... gonna find out soon enough but elliot says there's alot more selling than buying at these levels. my bet is downward. especially with YE approaching. but who knows.. this is crypto. anything can happen.
Looking at the chart, i see a little more room to move. CCI doesn't show it's being overbought at the VPVN shows decent support at this level. Or am i'm missing something?
let me know what you think, i love learning from this community!
To elaborate on my earlier "idea" that @Regera thought was bullshit... i think part of resistance right now is from swing traders selling BE positions purchased after yesterday's dip that kept going sliding. once those bags are sold off, nothing left but those holding for the wraith release. up, up, and away.
I think people are setting up to cash in profits (to FIAT) before or after new years (depending on tax benefits). BTC has been in a down channel for a few days and XRP moves up after each slip. I think market liquidity is moving to XRP (as the cheapest and quickest major currency) to be sold for FIAT around New Years. Example: I trade on Binance but must use...
Nice channel today on XLM. Always seems to trend after an XRP breakout. Such a good coin for both B2B payment solutions (with IBM hyperledger) and positioning to be regular currency coin (unlike XRP) with the Stellar ATMs.
just wondering if the run-up is caused by volume spike from people moving between exchanges to cash-out before YE. example: I use binance to trade, but kraken is where I can move FIAT. When i want to move to fiat, i usually buy XRP, transfer to kraken, and sell there. wondering if others are doing something similiar leading up to the new year.