XRP/USD Bearish
Updated
Hello Friends
As you can see on this chart, XRP isn't going anywhere but further down. According to this pattern and similar patterns you can find here looking backwards, this is a bearish triangle. Yet it could prove us wrong.
If it does turn around we would need to see XRP make a move towards the Ichimoku Cloud. That would be a risky early buy but nothing ventured nothing gained.
If I was to buy in, I would have look backwards on the 1 hr time frame and see where the bottom was. This is where I would put my stop loss but just a little lower than that bottom. Then if it does fly by chance, I would trail my stop loss.
Details on the Chart.
Disclaimer
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
As you can see on this chart, XRP isn't going anywhere but further down. According to this pattern and similar patterns you can find here looking backwards, this is a bearish triangle. Yet it could prove us wrong.
If it does turn around we would need to see XRP make a move towards the Ichimoku Cloud. That would be a risky early buy but nothing ventured nothing gained.
If I was to buy in, I would have look backwards on the 1 hr time frame and see where the bottom was. This is where I would put my stop loss but just a little lower than that bottom. Then if it does fly by chance, I would trail my stop loss.
Details on the Chart.
Disclaimer
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
Note
Food for thought. There could be a massive dump, thanks to ripple owner.beincrypto.com/one-billion-xrp-moved-from-ripples-escrow-wallet-no-need-for-a-dump-alert/
Disclaimer
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