The pattern clearly shows me a bearflag, (YRMV)
As a long term HODLER, it's not so nice but as a trader,
I'm going to put a saddle on this bitch and ride it down!!!
The price failed to break the local .618 fib at around .168 and is now going to be sold off by twitchy traders
As a long term HODLER, it's not so nice but as a trader,
I'm going to put a saddle on this bitch and ride it down!!!
The price failed to break the local .618 fib at around .168 and is now going to be sold off by twitchy traders
Trade closed: target reached
BOOM!Note
Note
XRP is ranging now but traders are edgy, confidence has been battered and anyone in altcoins has an eye on BTC, and knows the whales could easily attack again, nobody wants to oppose them after the terror of a 39% drop.I can only really consider bearish view with XRP atmo, I think on the scalp chart below, we are going to visit the green zone again soon, maybe NOW, I'm hoping we get some support there, if not, (and it will be mostly down to BTC) we will see some long term supports being broken again and some price action that will put you off your dinner. *insert PUKE emoji
IMO, the BIG BOYS are shorting BTC to get profits to buy dirt cheap XRP (Read "A weekend at Bitcoins" blog by Galgitron, then tell me it doesn't make sense!)
Note
At the time of analysis, this was looking like it was just about to drop but it could retest the top of the flag pattern, so there are two targets, depending on where the drop https://beginshttps://www.tradingview.com/x/Q0cxo9Dd/
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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.