XRP / BitcoinLong
XRP: Baby, The Fire's Gettin' Hot
Updated
Gann Fans are a very good tool. Sometimes people use Gann fans to judge momentum exclusively. However, "Gann-man" an investing superhero, uses this tool for forecasting resistance and support over time. I like to use Gann fans when the price action is very coordinated to the wick tops and wick bottoms on a Fibonacci level; as is shown in the above chart.
I normally trade based on a project's core purpose, ignoring projects that are bogus or, "not all that, bro." Furthermore, I am not a huge fanatic over Ripple (XRP). However, the chart is speaking to me here. The method of charting employed above is based on moving averages to analyze former momentum and current momentum of short term price action; regardless of bull or bear trend. Then, this information is used to forecast future price action. Cross referencing price movement within Fib levels show when momentum shifts will probably occur in the future. Based on this analysis above, there seems to have been a momentum shift from resistance to support for XRP at the beginning of December 2017. If this trend continues, which the moving average seem to affirm, then XRP could rise in price dramatically or at a stable rate over a period of months and possibly into the spring.
There is evidence for a XRPBTC support trend from Dec-March. This is especially so if Bitcoin corrects below $12,000 or $8,000, as there is strong evidence to back the claim that XRP is negatively correlated to the price of BTC; which is also included in the above chart. Ripple's is a choice hedge against BTCUSD because XRPUSD could potentially out preform BTCUSD during short term periods of BTCUSD consolidation. In both scenarios (correction and consolidation), XRP is a great short to medium term investment. However, other alt coins may fair better versus the US Dollar during periods of BTCUSD consolidation. Furthermore, there is always the chance that Ripple (XRP) decides to burn some of their currency supply. This is probably one of the greatest reasons to hold XRP long term (not many), as there might be a drastic decrease in supply (XRPBTC). However, coin burns by centralized players are a weak fundamental reason to invest in any cryptocurrency for the long term.
Setting a stop loss at 5% to 10% below purchase price would be a cautious consideration; a limit order for 3 X profit (XRPBTC) would not. Trade at your own risk. Both my ramblings & chart above should not be considered coherent, sane or of value in any regard. Cheers lads and ladies.
I normally trade based on a project's core purpose, ignoring projects that are bogus or, "not all that, bro." Furthermore, I am not a huge fanatic over Ripple (XRP). However, the chart is speaking to me here. The method of charting employed above is based on moving averages to analyze former momentum and current momentum of short term price action; regardless of bull or bear trend. Then, this information is used to forecast future price action. Cross referencing price movement within Fib levels show when momentum shifts will probably occur in the future. Based on this analysis above, there seems to have been a momentum shift from resistance to support for XRP at the beginning of December 2017. If this trend continues, which the moving average seem to affirm, then XRP could rise in price dramatically or at a stable rate over a period of months and possibly into the spring.
There is evidence for a XRPBTC support trend from Dec-March. This is especially so if Bitcoin corrects below $12,000 or $8,000, as there is strong evidence to back the claim that XRP is negatively correlated to the price of BTC; which is also included in the above chart. Ripple's is a choice hedge against BTCUSD because XRPUSD could potentially out preform BTCUSD during short term periods of BTCUSD consolidation. In both scenarios (correction and consolidation), XRP is a great short to medium term investment. However, other alt coins may fair better versus the US Dollar during periods of BTCUSD consolidation. Furthermore, there is always the chance that Ripple (XRP) decides to burn some of their currency supply. This is probably one of the greatest reasons to hold XRP long term (not many), as there might be a drastic decrease in supply (XRPBTC). However, coin burns by centralized players are a weak fundamental reason to invest in any cryptocurrency for the long term.
Setting a stop loss at 5% to 10% below purchase price would be a cautious consideration; a limit order for 3 X profit (XRPBTC) would not. Trade at your own risk. Both my ramblings & chart above should not be considered coherent, sane or of value in any regard. Cheers lads and ladies.
Note
Hey everyone,I leave the projections of price ambiguous (and sloppy on the chart) on purpose. I need to reiterate the standard professorial blabber that doing your own research (ie charting this shyte for oneself) is super damn important. Dooit!
I will tell you.
Open a Gann Fan on the chart. Place the points from the bottom of the lowest wick right before a breakout. Then, from top to bottom, put the highest line on the top of the wick. On the Put it to the highest point on the breakout wick. Then do the same, except from top to bottom. Next put a Fib level from bottom to top... That's it really. Well, there is a bit more to it but this is good enough for now.
investopedia.com/terms/g/gann-fans.asp
It will be crazy if we hit 0.00014 BTC bro.
Word,
Jbieb448
Trade closed manually
i sold at 0.00006970 and WILL re-buy if XRP double bounces from 0.000066. This could be a HUGE trade on margin (loaned money to earn exponential profit), if BTCUSD drops below $15,000 on 12/21/2017.Trading on margin is crazy but this is almost a sure bet if 0.000066 bounces again that I do not recommend anyone to do because I am not a financial advisory; nor do I posses any sane insight whatsoever. (might go up to 0.00014 as shown above)
Trade closed: target reached
Now XRP is at around $2.00 USD per coin. This is an immaculate price to sell. Cheers.
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