Took a couple of days off crypto, was just watching a few moves, specially BITCOIN DOING NOTHING, anyways this post is about my XRP trade, last time I can say it work out since I made 10% ish profit on a small move, now Im trying to get back into XRP although not yet but soon depending on the next days.
Same as my previous trade XRP is getting close to that $0.23 to $0.28 range where it normally bounce, this is on the daily chart, as my last trades I’m trying to swing trade using 1 D, 4 hr and 1 hr charts to keep an open perspective and zoom out enough.
If I dont buy know I may meet the middle of this range and try to buy between $0.28 to $0.26 cents, also its forming a descending triangle and thats first indication that we may see XRP at $0.25 again or close to it as show on the next image
The second indicative for me that XRP may go back down is the decending and actual low volume, descending triangles with low volume most of the time end up on a continuation of a down trend.
I guess the entire market is correcting a bit since last week lot of coins rally a bit and from November to January coins like TRON and BNB went up a lot on the altcoin department also in my opinion Bitcoin is repeating a patern from its last dump on January, I believe that Bitcoin needs to break the 3k mark so true believers find it really cheap and almost agonizing and then we will see Bitcoin consolidate, Bitcoin patterns on next image
I hope this information was useful for you, I’m trying to learn everyday and document my journey on crypto, I believe the bottom is close.
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