XRP
Corto

XRP - 30% Cyclical Trade? Here Come the Short Sellers?

Actualizado
Hey guys,

Looking at XRP we can see it continues trading within a descending channel. Its now testing the EMA50, but judging by the way it has traded at the top channel line we should anticipate a sharp selloff.

***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Nota
Now kissing the upper trendline! On the smaller timeframes we have a good opportunity to short the market.
imagen
Nota
Still consolidating... here's the levels I'm watching. Shorts are still increasing.
imagen
Nota
Fingers crossed!
imagen
Nota
There we go... once the daily closes this market could be in for quite the reckoning.
Nota
imagen
Nota
Alright lets see if we can break some supports here...
imagen
Nota
Support breaking...
imagen
Nota
The market is beginning to rally,.. but XRP is still trading below support.... hmmm to close short or to not close short? (that is the question)
imagen
Nota
Market is starting to swing back up around to the support level, a daily close will confirm a likely rally to 44 cents.
imagen
Nota
We formed an interesting candle on the daily... so we've kind of neutralized the trend... but we don't have a confirmed reversal.
imagen
Nota
heh heh looks like the bears might be winning ;)
imagen
Nota
Ok. We're kissing a key support level... below here we can expect a violent sell-off.
imagen
Nota
Approaching the bottom of the range here!
imagen
Nota
We are approaching target!!! BUT we have a second target now ;)
imagen
Nota
imagen
Nota
Ok. We had to exit the trade (up 40%!) as the trend reversed sharply out of the descending wedge (a reversal pattern)… On the daily we can see the EMA50 is a nice level to watch for a reversal, then look for a breaking of fibo support to short the market (for another 20%!).
imagen
Nota
We are at the EMA50! This is the make it or break it level. Watch the daily candle...
imagen
2k18bearmarketChart PatternsCryptocurrencyTechnical IndicatorsrippleTrend AnalysisxrpXRPBTCxrpusd

Publicaciones relacionadas

Exención de responsabilidad