XRP / TetherUSShort
Monthly Swing Trade - Bearish 🐻
Thank you for taking the time to review my analysis.
This is not for financial advice and I am not a financial advisor.
Today, we're using 3 indicators:
From my research, the strategy using the Ichimoku Cloud is simple..
If tenkan-sen (conversion line, blue) crosses under kijun-sen (base line, red), it's bearish
If chikou (lagging span, green) is under kumo (cloud), it's bearish
If price is trading under kumo, it's bearish
Secondly..
On Balance Volume (OBV) has a descending trend, this too is bearish
Lastly..
Reviewing the Pivots, prices at time of writing is below the Monthly level.
Now, this can quickly become support, but I see a higher probability for prices to drop.
Conclusion:
The trend is bearish and prices will continue to go down in the long term.
I'm looking to take profits at $0.272 and lastly at $0.121
I actively have a short position open and will continue to DCA and Hodl on the side.
Stay safe out there trading.
This is not for financial advice and I am not a financial advisor.
Today, we're using 3 indicators:
- Ichimoku Cloud
- On Balance Volume (OBV)
- Standard Pivots (Settings: Input Type has been changed from "Traditional" to "Fibonacci")
From my research, the strategy using the Ichimoku Cloud is simple..
If tenkan-sen (conversion line, blue) crosses under kijun-sen (base line, red), it's bearish
If chikou (lagging span, green) is under kumo (cloud), it's bearish
If price is trading under kumo, it's bearish
Secondly..
On Balance Volume (OBV) has a descending trend, this too is bearish
Lastly..
Reviewing the Pivots, prices at time of writing is below the Monthly level.
Now, this can quickly become support, but I see a higher probability for prices to drop.
Conclusion:
The trend is bearish and prices will continue to go down in the long term.
I'm looking to take profits at $0.272 and lastly at $0.121
I actively have a short position open and will continue to DCA and Hodl on the side.
Stay safe out there trading.
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