More downside for XRP

11 ene 2018This chart is in EUR. While most want XRP to go very high, I see more downside on the short-term.

I believe it will hit 1.37 eur support towards the bottom of the boillinger band.
This could be the completion of a corrective ABC as a 2 leg in 12345 uptrend.

The MACD and SAR on the 4 hour is bearish.

On the 1 day, the MACD has crossed over showing more downward pressure, so further downside to 1 EUR is not out of the equation either.

I would trade XRP very carefully right now.

11 ene 2018

Operación cerrada: objetivo alcanzado

XRP went down to 1.38 euro and bounced on that support to the middle of the 4 hour boillinger band.

the 4 hour sar and 1 day MACD are still bearish, so 1.38 could be retested.

note that such swings are ~30% swings in ~1hour , huge !!!!

I would stay out of XRP for the time being. Closing since 1.38 was reached

11 ene 2018

Operación activa

There is more downward pressure with a very bearish MACD in the 1 day candle. I would not be surprised to see a "flash" test of the 1 EUR level.

Fun trade would be to put a buy order at 1 EUR and play the dead cat bounce.