XRP may be the best pair to short for the next major drawdown. possible BTC pump in the near term to 4k should put xrp around 35-38cents which if you're patient can hold a short entry from there to potentially 12 cents if the triangle breaks down big. Thank you Kraken for gifting us the ability to Margin XRP
be careful out there
look how nicely they played out , not difficult to spot as they are happening. was only able to play 2 of them. Even better when shorts are adding/longs capitulating on a bullish divergence or longs adding/shorts capitulating on bearish divergence.
Lots of the buying action near the end of this pump until now has been shorts closing. looks like we should visit at least the .5 fib retrace lvl at $115 to .618 lvl at $112, if not all the way down to the bottom again in what could be a new range for a while. but I will be out of my short by then not too confident it'll get all the way down there so soon.
Will be interesting to see if the pattern plays out again. With how much markets have been over-performing it only seems natural but if a strong move to QE and backing off on raising interest plays out instead markets could go higher yet. Doesn't seem likely though. Looking at the RSI December 2017 was the best time to take profit and but we're still in overbought...