Hello my dear Ripple Traders, hope you're doing fanstastic guys!
Ripple just broke the 4H equilibrium to the upside, with yet another 10% profit potential. We have now reached previous resistance at the 37 cent range, so it's very normal for the bulls to take profit. Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up, because the video gets shown to other people then. Make also sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. For short trading: Please be aware, that you can lose all your money on Bitfinex if Tether blows up one day/and or they just close, (respectively on Binance, if you're holding Tether there), as compared to Coinbase, who do not offer short trading, but who have at least an insurance up to 250k. Dollars as they state on their homepage.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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Beware of the previous highs at 0,374 => Up to that point, the bulls can take profit
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Congrats to all the bulls, what a ride guys! We have now arrived at the previous huge support area, which we had broken at the famous 0.424 beginning of August. The area goes to 45 cents (which we have now reached with the wicks) up to 50 cent psychological: expect some reaction here. What was huge previous support, will now be resistance.
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Bulls are clearly taking profit. Wanted to short 50 cent resistance on Bitfinex: No chance, order was cancelled. Not enough coins to lend! :D
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Ascending Triangle broke with yet another amazing profit potential. I played it myself, but took profit already. We're hugely overextended guys, we have basically doubled from 25 cents, from my 'Ripple looks Wedgy' Video last week.
And for any inexperienced trader, who is thinking about shorting this: Don't do it, or you will get rekt, just like the people who tried to short EOS on it's run up back in April. It seems that there is some serious money behind Ripple's pump: Do NOT play against the trend! It is much easier playing this market bullish. But we have to make a pause at some stage.
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Climax at 80 Cent: Now we wait and see, what pattern formation we get from here. For the shorting people: If you're still alive, I hope you have learned your lesson by now. Do NOT get in front of euphoria-doped bulls!
It is clear by now, that very strong hands are pushing this move higher. Just as a comparison what happened in April with EOS: If Ripple is gonna repeat that, we're right now far away from 500%!