Crypt0151

XRP Pressure Point

Long
BITFINEX:XRPUSD   XRP / U.S. Dollar
The pressure is really building now with XRP, both the 7 and 30 day MA's are on the rise. I am looking for a break to the upside and have two targets in mind. T1 is in the 0.35 region, a bounce from this zone heading back down to 0.33 could be a great indicator of bullish momentum, with previous resistance then acting as support. If this plays out then heading up to T2 in the 0.37 area would be a strong possibility.

Any huge candles bursting out of the resistance I would be cautious about jumping straight in mid candle if you trade with a tight stop loss as this could easily pull back as people take profits wiping out your trade before moving back up towards T1 and eventually T2. Waiting for any re test of the 0.33 region would be the better option.

Always remember prepare for all outcomes and no one ever went broke taking profits.

Safe trading people.
Comment: its nearly make you mind up time, volume dropped a lot yesterday, this only worries me when volume drops but we continue to push up, as we are still in the range I feel this is just more people waiting to pull the trigger after XRP makes a move.

Similar to the huge red candle from the 14th we may see a rapid drop to the down side, triggering sell orders as people panic before the manipulation kicks in and we pull rapidly back up and more thank likely end up back in the wedge. before moving up, but slower.

My preference would be a huge green candle smashing straight into target 1, but hey lets just be prepared for all outcomes.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out