XRP / BitcoinShort
Ripple XRP - The time will come but it's not yet
Not financial advice. Do your own research. The ideas posted here are the personal thoughts of the BitDoctor Team.
Back on January 4th, I instructed many of you to get out of ripple so I figured it would be appropriate to give an update on where we're going.
I have no reason to believe XRP is bullish yet. There was a decent bullish candle in late January but as you can see we've already retraced 100% from there. I'm seeing a lot of confluence for support at 7700 to 7900 and if you decide to try and catch that knife you should watch the reaction there. I expect there to be some algos that will buy there but as a retail investor you should trade the reaction and set a stop loss once it's in profit. Assuming it doesn't fall through it completely... which it might. That's the gamble you take when you try and catch a knife instead of trading a bounce.
If we fail 7700, I do see support at 6300 still.
If I see any indication that trends are changing, I will inform my followers, otherwise, this is my trade... unchanged... since Jan 4th.
Trade safely friends!
<3 -CE-
Back on January 4th, I instructed many of you to get out of ripple so I figured it would be appropriate to give an update on where we're going.
I have no reason to believe XRP is bullish yet. There was a decent bullish candle in late January but as you can see we've already retraced 100% from there. I'm seeing a lot of confluence for support at 7700 to 7900 and if you decide to try and catch that knife you should watch the reaction there. I expect there to be some algos that will buy there but as a retail investor you should trade the reaction and set a stop loss once it's in profit. Assuming it doesn't fall through it completely... which it might. That's the gamble you take when you try and catch a knife instead of trading a bounce.
If we fail 7700, I do see support at 6300 still.
If I see any indication that trends are changing, I will inform my followers, otherwise, this is my trade... unchanged... since Jan 4th.
Trade safely friends!
<3 -CE-
CE - BitDoctor
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