XRPBTC short

30 de dez. de 2018

The general trend of XRP is upwards. However, XRP might have formed a double top. In case BTC breaks down out of the inverse Head and Shoulders formation (as it might indicate not a trend reversal but a continuation pattern), it is expected that all alts will bleed along the way. In this case, XRP (which is usually dumping much harder that BTC) might break the double top formation falling below the 8555 level. In that case, a momentum trade could be placed to catch the dump. Entry would be just below the bottom of the formation at 8461. Then, take profit levels would be 3% below (trading on 10x or 15x leverage this would be 30% or 45% profit respectively). A small part of the position might be left open to be closed as low as 7266 (in case the whole market is dumping it can go that low because of lack of VPVR resistance).