XRP trend analysis
A while ago, most people focused on whether BTC can break the previous high or not.
However, BTC at this time does not yet for us to enter the market, because it has not yet returned to the price that we can accept.
The recent mainstream coin is Ripple.
In the 10/21 article, I mentioned that Ripple is brewing a weekly inverse head and shoulders pattern.
The neckline resistance is located at the 0.3 price.
And this inverse head and shoulders pattern is another bottom reversal pattern after breaking through the downtrend weekly resistance level.
Therefore, it meets our criteria for entering long in the market,
The article also mentions the entry points for left-hand trading and right-hand trading.
The upper resistance is at the turning point of the previous weekly resistance at 0.5 and the monthly pressure at the 0.8.
It can be seen that after a long period of bottom consolidating, the 0.5 resistance breaks through in a short time.
The momentum is reaching to 0.8 resistance on the monthly TF,
After failing to break through the resistance level, it fell back to the 0.56 price and the current price is 0.69.
I often hear people say that the bear market collecting coins and the bull market will stop profit in batches.
In the near future, most people always predict the price of the trend, and stop profits or enter a short order before the trend has reversed.
And the reason for entering the short order is only that XRP has pumped too much and should be corrected.
This trading method is not the right trading method in a bull market.
Often because of small profits and big losses, there is no way to enjoy a whole profit.
How to take profit in batches?
Take Ripple as an example,
After the price cannot break through the 0.8 monthly resistance, we can take the profit part of the position 20-30% and after the price drops to the support zone at 0.5 price, we will buy back the take profit position.
Only after the previous resistance has been tested and turned into support, this way will be with our entry strategy.
However, the price can also has a chance to continue to rise to 1$ 2$ or break through historical highs.
Looking back at the chart of Ripple in 2017, you can see that Ripple rose from 0.22 on 12/11, and reached the highest price of 3.2 on 1/1.
It only took three weeks, and in less than a month, you have nearly 15 times the profit.
The best way to profit is to follow the trend and be a trader who follows the trend.
The trend is your friend until the end.
However, BTC at this time does not yet for us to enter the market, because it has not yet returned to the price that we can accept.
The recent mainstream coin is Ripple.
In the 10/21 article, I mentioned that Ripple is brewing a weekly inverse head and shoulders pattern.
The neckline resistance is located at the 0.3 price.
And this inverse head and shoulders pattern is another bottom reversal pattern after breaking through the downtrend weekly resistance level.
Therefore, it meets our criteria for entering long in the market,
The article also mentions the entry points for left-hand trading and right-hand trading.
The upper resistance is at the turning point of the previous weekly resistance at 0.5 and the monthly pressure at the 0.8.
It can be seen that after a long period of bottom consolidating, the 0.5 resistance breaks through in a short time.
The momentum is reaching to 0.8 resistance on the monthly TF,
After failing to break through the resistance level, it fell back to the 0.56 price and the current price is 0.69.
I often hear people say that the bear market collecting coins and the bull market will stop profit in batches.
In the near future, most people always predict the price of the trend, and stop profits or enter a short order before the trend has reversed.
And the reason for entering the short order is only that XRP has pumped too much and should be corrected.
This trading method is not the right trading method in a bull market.
Often because of small profits and big losses, there is no way to enjoy a whole profit.
How to take profit in batches?
Take Ripple as an example,
After the price cannot break through the 0.8 monthly resistance, we can take the profit part of the position 20-30% and after the price drops to the support zone at 0.5 price, we will buy back the take profit position.
Only after the previous resistance has been tested and turned into support, this way will be with our entry strategy.
However, the price can also has a chance to continue to rise to 1$ 2$ or break through historical highs.
Looking back at the chart of Ripple in 2017, you can see that Ripple rose from 0.22 on 12/11, and reached the highest price of 3.2 on 1/1.
It only took three weeks, and in less than a month, you have nearly 15 times the profit.
The best way to profit is to follow the trend and be a trader who follows the trend.
The trend is your friend until the end.
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