That was a pretty gnarley selloff and came earlier than hoped but if you had at least one short bag then maybe you added some stablecoinage to your nut on the cover bounce? but obviously not UST.
These are treacherous time for crypto speculation and the dark pool whales have plenty of muscle to shake most weak hands from their stash.
Some things to consider as we look at this most recent inflection point, evidenced by both adjacent bottom and top wicks :
1. They want us out, obvi
2. Flash wicks still put our beloved XRP at risk of a return to the 20 cent days (and lower) so be really careful with stops (either really tight or super loose)
3. Some simple TA shows we've got big overhead with the VPFR around the $0.75 level
4. We're waaaay below our EMA's (50, 200)
5. Plans to fix UST could precipitate more selling
6. Volume on this bounce is average, not impressive like adjacent dump (coordinated institutional sharting)
Our plan here is to continue scalping (short and long) while adding to the long bags all the way down (buy when the blood is your own). We've got a fixed short bag to hedge against major owns (usually between 20% and 40% during bear cycles.
* * * not investment advice * * *
Stay frosty my dudes (and steer clear of salty BTC permabulls)
Box
These are treacherous time for crypto speculation and the dark pool whales have plenty of muscle to shake most weak hands from their stash.
Some things to consider as we look at this most recent inflection point, evidenced by both adjacent bottom and top wicks :
1. They want us out, obvi
2. Flash wicks still put our beloved XRP at risk of a return to the 20 cent days (and lower) so be really careful with stops (either really tight or super loose)
3. Some simple TA shows we've got big overhead with the VPFR around the $0.75 level
4. We're waaaay below our EMA's (50, 200)
5. Plans to fix UST could precipitate more selling
6. Volume on this bounce is average, not impressive like adjacent dump (coordinated institutional sharting)
Our plan here is to continue scalping (short and long) while adding to the long bags all the way down (buy when the blood is your own). We've got a fixed short bag to hedge against major owns (usually between 20% and 40% during bear cycles.
* * * not investment advice * * *
Stay frosty my dudes (and steer clear of salty BTC permabulls)
Box
Trade active:
pump looks bleak but gonna fork it anyway . . maybe 0.52ish but this is checkers . . not chess. Stay frosty my XRP brethren
Trade active:
Even bloody markets are better than the doldrums