We believe there are excellent chances of bullish momentum on XRPUSD and overall crypto setups, especially if the USD weakness, which it could over the next few days, maybe even today.
We are long XRPUSD and believe RIPPLE might be in a strong chance to go in the high 0.60's
Good luck trading!
Been a while since we posted a trade setup here and I think there is no better time than today! We just went long BTCUSD and were expecting new a ATH!
There are many good reasons for the long, but heres a recap of them in text too:
- Rejection zone / Support
- 38.2% fib of main high
- RSI low
- Rejection candle
- RSI low
The price is now ranging between the 10900 and 11300 levels.
If the BTC manages to break the 11300 and close above it, we should see the price reaching 12000. However, if it fails most likely We could see the coin reaching 10350 again.
The video shows a contracting wedge into a zone of congestion. This is sometimes a reversal pattern.
I make no predictions. I explain carefully about losses and risk management of this situation.
Disclaimer: This is not financial advice or an encouragement to trade in securities. No liabilities accepted. Your losses are your own. This means you sue yourself...
There was panic around high noon UK time, as news broke that the IRS will be sending warning letters to American cyrpto traders. This caused a dump on BTC and shockwaves were felt throughout most of the cryptosphere.
But hold on - the IRS does not rules the world! This dump could well make BTC and other major cryptos very attractive to international investors...
I have opened a long position on the horizontal support that Bitcoin is holding at $6577, which coincided very nicely with the top of Wave 1. Elliott Wave - Wave 4 cannot move into Wave one's region, so it was a very nice risk to reward ratio long for me with stops just below Wave one's top. I will be holding this long(keeping a close eye on it of course) up to a...