$XRP In an extremely harsh buying saturation zone on the 4-hour chart โ the reversal is coming ๐ด
$XRP /USDT โ Short ๐ด
Trading plan:
Entry: 1.1052 โ 1.114
Stop loss: 1.1411
Target 1: 1.0623
Target 2: 1.0307
Target 3: 0.983423
Why this setup?
RSI at 86.45 on the 4-hour chart โ historically extreme overbought
Long/Short ratio at 2.7 with 73% long positions โ crowded. Longs increase the probability of downward pressure
Macro Extremes occurred with BTC above the 200 EMA โ an ideal environment to liquidate overextended positions in altcoins
Will we see a quick liquidation of long positions, or will accumulation extend before the breakdown?
$XRP
This content is not investment adviceโdo your own research (DYOR)
$XRP /USDT โ Short ๐ด
Trading plan:
Entry: 1.1052 โ 1.114
Stop loss: 1.1411
Target 1: 1.0623
Target 2: 1.0307
Target 3: 0.983423
Why this setup?
RSI at 86.45 on the 4-hour chart โ historically extreme overbought
Long/Short ratio at 2.7 with 73% long positions โ crowded. Longs increase the probability of downward pressure
Macro Extremes occurred with BTC above the 200 EMA โ an ideal environment to liquidate overextended positions in altcoins
Will we see a quick liquidation of long positions, or will accumulation extend before the breakdown?
$XRP
This content is not investment adviceโdo your own research (DYOR)