Looks like Xrp wants to make new lows again.. But before it looks like we have a long-scalp opportunity!
We broke the important Support of 0.21 cents in mid-december, this means that the support became a resistance on the breakdown. But in order to confirm that 0.21 is indeed a resistance we must test it first and looking at the market a test is the most-likely move at the curent moment.
Why?
- We are breaking from a 4h triangle
- Macd flipped Bullish on the 1d timeframe
- Rsi was oversold
So right now bulls seems like in control, here's how i will play the trade:
Portfolio Risk: 5%, Leverage used: x5 - x10
Long: 0.195
Sl: 0.185
Target: 0.214
We broke the important Support of 0.21 cents in mid-december, this means that the support became a resistance on the breakdown. But in order to confirm that 0.21 is indeed a resistance we must test it first and looking at the market a test is the most-likely move at the curent moment.
Why?
- We are breaking from a 4h triangle
- Macd flipped Bullish on the 1d timeframe
- Rsi was oversold
So right now bulls seems like in control, here's how i will play the trade:
Portfolio Risk: 5%, Leverage used: x5 - x10
Long: 0.195
Sl: 0.185
Target: 0.214