XRP | More Bearish Engulfment?
Updated
As I've said in previous ideas, those long flash wicks down, tend to engulf and the last long wick was no different as we're seeing trade activity explore the lower breach. I'm neither bull nor bear as I take scalps on any action up or down BUT I see regulatory issues becoming problematic for crypto as a whole and the weight of dark pool liquidity being used to quash holders of monetary vehicles that compete with the junky USD and other fiat ridiculousness (FedCoin).
Permabulls may get some relief in the near term as cycle rallies ensue but we're got some beatdowns on tap along the way.
As always, do your own research and this is by no means "investment advice".
Good luck!
Permabulls may get some relief in the near term as cycle rallies ensue but we're got some beatdowns on tap along the way.
As always, do your own research and this is by no means "investment advice".
Good luck!
Trade active
Just gonna leave that for ya ;)Trade active
Just gonna leave that for ya . . Trade active
In the previous update I'd dropped a harmonic inside of the pitchfork and kind of hoped for a small long to pan out, no big deal, I'm a HODLER of XRP and DCA is the name of the game. I'd like to draw your attention however, to the inverse cup and resultant "waterfall" / red douche dump. I took a chance at "C" but knew in my gut that the inverse cup and my own Fud Box sea of inevitability / flash wick engulfment prediction would "probably" win over. The SPX is dumping but may rebound on Monday at the 200 EMA, we'll see. Would be cool to grab a few scalps on a V bottom.
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