Hey guys! As always, my charts are as simple as they can be! This is on the weekly chart, so do not expect the move to play out tomorrow! This is a long-term swing trade. What do you guys think about the current sentiment around XRP & other "Altcoins?"
This is the general altcoin sentiment! If you plan on trading alts make sure you know how the rest of them are stacking up against bitcoin! We may have a new possible uptrend temporarily! Remember! -> Patterns work until they don't! So combine your edge with support+resistance levels! Trade with low leverage and patience! 5-10x leverage max can make the market...
Upon successful break of 9435-9450 I am targeting 9795. If you aren't currently in a trade, wait for confirmation of a breakout or a retest of 9400-50 as support after a retracement from the breakout! Trade carefully! Trading can be as simple as you let it. Trade with low leverage and patience! 5-10x leverage max can make the market your ATM!
Trade at your own risk! Your profits will only be as good as your risk management!
Half of the supply XLM was burned yesterday. No, this does not mean we should see an immediate market reaction as none of it was in the current circulating supply. What we should see increase over time is a decrease in the inflation of XLM and a slow steady rise in price.
Here are the key support/resistance levels to watch out for! Remember, the more you complicate the market the harder it gets to trade!
I find that the simplest charts are always the easiest for the market to follow. Enjoy guys! Let me know what you think about the current sentiment!
Possible pattern, either way plan to trade both directions!
Enjoy, let me know what you guys think and if you have any questions!