A harsh yet, realistic view of where this recovery could take us. This will certainly wash the public out..(blood in the streets). How strong is your HODL game? Lol (FYI, I'm still eyeing Ripple at .33)
These dumps are harsh, so aside from shorting, it is extremely hard to hunt setups because all TA analysis just gets wiped off the grid when the entire market is dumping.
So I'm staying completely out of everything right now until we establish a bottom with BTC. However, I do like this gap on XRP. If you have seen posts from me in the past you know I'm pretty enthused to trade Ripple on the long term. Gaps in price love to be filled about 80-90% (lower the time frame, the more unlikely)
Nice BoT setup. Bought more XRP after the market structure confirmed off the 25% level. Now I will move my stop loss up accordingly to stay in this trade as long as possible OR I will break even at 25%
I entered this trade a bit early, but here is a nice BoT setup for everybody. Got some nice volatility in XRP. Normally I would recommend buying market structure etc around the 25% level then move your stop loss accordingly
I have been waiting for this target since my last post.
I like the 36 cents area, waiting for it to tag that area and see if we can find a reversal around that price.
RSI is close to being oversold
Ichimoku cloud has a heavier resistance in that area
78.6 Fib is just about 36 cents
Obviously if you are a buyer at these levels you belong in a casino. CNBC Twitter is telling the public to look at XRP, biggest indication to sell. I mentioned previously that XRP bottomed around 28 cents (That's when I took notice)
I took my profits, but now I'm looking for the next ride! XRP is one of my favorite coins to trade..
What do you guys think? :)
It looks to me like the bulls have lost steam folks. Bearish market structure in multiple indicators as well as an oversold oscillator...Point of control points to 61.8 fib level, we shall play it by day!
After the small pump with XRP we have created two scenarios: 1. There is a wick that needs to be eaten, this will take us back to our point of control level and from there we can decide otherwise. 2. In order for scenario 1 to happen we need to surpass the 13EMA which now looks to serve as a support level.
I would personally like this idea for a quick dump so...