As we know US30 has been making ATH's but for this very reason I would not feel good about entering long or even investing.
The smart money gets out here while the dumb money gets wrecked, Reason why I would do a Sell Stop order is in case price makes a couple more pushes to the upside be patient.
Despite all the negativity & Bears in the space, this is my trade Idea level headed & unbiased opinion.
Pink horizontal line is a daily level to keep in mind. Check out my XRP post before this one to see my opinion about the market as a whole in the space!
Thank you all.
I did a top down analysis for XRPUSD from Daily time frame to the 4HR time frame to give you a couple of things to take into consideration before making a trading decision.
As you know Crypto has been a bit unpredictable & News & Conferences no longer have a effect on price. I feel as if everyone in the space has become more neutral than anything, 50% are bullish...
Usd/JPY has a clear up-trend in play, however we approached a important level of resistance where it absolutely melted from this level the last time (RED).
I have two take profit targets, Pulling out the FIBB Retracement tool will be helpful as well.
That huge break out was due for some recovery, I hope some of you took profits off the table.
Swell conference is tomorrow & some major announcement may present itself. Now that we have a pull back, what better time for some great news and another push to the upside?
Hello everyone, We are in a very important level right now.
A level were pressure is being built & ready to explode to the upside. It has been a boring consolidation period however I believe a big move is coming and could be the start to the next Run Up. A couple of price call outs to keep in mind.
Taking a look at the Technical s on the 4HR time frame, we have ourselves a clear downtrend occurring with LH's (Lower Highs) and LL's (Lower Lows).
Very respected trend line, & I believe the bottom is not yet in, so enjoy!
XRP has formed that triangle which everyone assumes it will breakout to the up-side.... BUT I feel that we have been faked out too many times that it is actually time for this to come through, & with some good Fundamental news for coming up around Nov. 7th, we should see that bullish breakout.
Sit back Relax, put your seat belts on.
XRP has had some very great fundamental news with the likes of Partnership with "Money Gram" & the positive news w/ crypto in general from China. Now taking a deep look into the charts it seems like the most recent pull back was a form of wick fishing aka the attempt to hit peoples stop losses, right before the next big move.
Whilst pulling out the Fibb...
XRP Has been performing extremely well these past couple of weeks.
As you can see the up trend I have marked up is still in play, & the downtrend I had marked up was broken. So that clearly tells me we have a bullish set up in place. Very excited to see what happens these next few months left in the year. I feel as if there was a lot of maturity from the people...
THIS IS ONLY AN IDEA, & THE BEST POSSIBILITY IN MY OPINION THAT COULD OCCUR.
Ok, had to get that off my chest lets get into it.
Now this is on the Daily time frame, We have a very clean set up of a triangle forming. The very point of that triangle so happens to be September 23rd which is the BAKKT Launch date.
Now typically when this semi...
XRP pulled back in to highlighted zone where I believe some sideways trading will occur before we continue back to the upside.
Weird time in Crypto! Could be very exciting Q4 but we must remain cautious and level headed with a plan. I still do not think we are in a bullrun, but you can tell everyone was feeling awesome after some green days for ALTS.
End of the year = People selling stocks at profit to buy Christmas presents
Marked up this chart to show the down fall from October to late December of last year. Personally I don't think it will be as bad as last year...However I do expect it to fall to the highlighted areas which my arrows point to.
As always be cautious and be careful.
Likes & follows...
Check this out, my analysis played out as I visioned it would.
Nice breakout of the downtrend, re-test & bounce from trend line.
I still would not scream "ALT SZN!" However its great to see the bleeding stop for a bit, BTC dominance still high, it is going to be a interesting couple of months ahead.
I believe stocks will tank around December (as they usually...