Hi traders,
Crypto is still the wild west for MM and we should expect the common wild moves to play out. In the past XRP forms consolidating triangles which it fails to break upward initially, heads back to the low major support for the bullish trend BEFORE pumping wildly back to close the upper gap (currently in the 53/54c area, if not slightly higher to the 58c.)
SO at present i am short XRP
ENTRY 0.48
SL 0.483
TP 0.405
Looking t9o long in the 0.395-0.405
Now its less likely from technicals and also past moves to expect price to cleanly break upward above the 0.48c area now/not worth the long entry in any-case as IF it was to that would be short lived in any case. Which we would be looking to short above 0.50c
Markets are propped up right now, swinging around to clear out the new shorter's given the overall bearish news of late.
Crypto is still the wild west for MM and we should expect the common wild moves to play out. In the past XRP forms consolidating triangles which it fails to break upward initially, heads back to the low major support for the bullish trend BEFORE pumping wildly back to close the upper gap (currently in the 53/54c area, if not slightly higher to the 58c.)
SO at present i am short XRP
ENTRY 0.48
SL 0.483
TP 0.405
Looking t9o long in the 0.395-0.405
Now its less likely from technicals and also past moves to expect price to cleanly break upward above the 0.48c area now/not worth the long entry in any-case as IF it was to that would be short lived in any case. Which we would be looking to short above 0.50c
Markets are propped up right now, swinging around to clear out the new shorter's given the overall bearish news of late.