Chart is a bit messy, but pretty self explanatory. I'm taking profits on XRP and look for re entry. Still long term bullish.
I know, everyone's saying Alt season is here. Overall sentiment is very bullish and shifting in favor of alts. So why would I sell?
XRP has often deviated from the rest of the market, as we just saw with this 100% pump while most coins stagnated.
XRP pumps hard. It also sells off hard. Look at the recent ones.
I let volume be my guide - And the volume on this pump might look big on a smaller TF, but if you zoom out, like I did, you can see that the volume of whoever pumped this was small potatoes compared to everyone who bought the dips...
This market preys on amateur retail breakout buyers buyers who fomo into pumps and panic sell while the real traders take profits and buy dips.
So I expect a retrace/retest of some previous historical support/resistance levels that I've clearly marked here before XRP continues climbing.
happy trades,
CD
I know, everyone's saying Alt season is here. Overall sentiment is very bullish and shifting in favor of alts. So why would I sell?
XRP has often deviated from the rest of the market, as we just saw with this 100% pump while most coins stagnated.
XRP pumps hard. It also sells off hard. Look at the recent ones.
I let volume be my guide - And the volume on this pump might look big on a smaller TF, but if you zoom out, like I did, you can see that the volume of whoever pumped this was small potatoes compared to everyone who bought the dips...
This market preys on amateur retail breakout buyers buyers who fomo into pumps and panic sell while the real traders take profits and buy dips.
So I expect a retrace/retest of some previous historical support/resistance levels that I've clearly marked here before XRP continues climbing.
happy trades,
CD
