Looks like Xrp wants to make new lows again.. But before it looks like we have a long-scalp opportunity!
We broke the important Support of 0.21 cents in mid-december, this means that the support became a resistance on the breakdown. But in order to confirm that 0.21 is indeed a resistance we must test it first and looking at the market a test is the most-likely move at the curent moment.
Why?
- We are breaking from a 4h triangle
- Macd flipped Bullish on the 1d timeframe
- Rsi was oversold
So right now bulls seems like in control, here's how i will play the trade:
Portfolio Risk: 5%, Leverage used: x5 - x10
Long: 0.195
Sl: 0.185
Target: 0.214
We broke the important Support of 0.21 cents in mid-december, this means that the support became a resistance on the breakdown. But in order to confirm that 0.21 is indeed a resistance we must test it first and looking at the market a test is the most-likely move at the curent moment.
Why?
- We are breaking from a 4h triangle
- Macd flipped Bullish on the 1d timeframe
- Rsi was oversold
So right now bulls seems like in control, here's how i will play the trade:
Portfolio Risk: 5%, Leverage used: x5 - x10
Long: 0.195
Sl: 0.185
Target: 0.214
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.