This article is mainly for the purpose of being an "trade diary", so that I can view my past mistakes or good calls and learn from them.
XRP/BTC is currently testing a critical support level that turned out to be very fruitful in the past.
At the time of this writing the depth of the sell side of XRP/BTC is absurdly strong. There is no buy support below 0.00006600~ BTC, but there is a strong wall defending 0.00006700~ BTC.
This is a high-risk trade, because the next support levels for XRP/BTC are way below 0.00006600 BTC.
My trade:
Buy target: 0.00006800 - 0.00006900 BTC
Stop-limit: Stop - 0.00006575 / Limit - 0.00006500
Sell target 1: 0.00007500 BTC
Sell target 2: 0.00008000 BTC
If it breaks 0.00007500 BTC, raise stop to 0.00007250 BTC and limit to 0.00007175
Notes: I expect this trade to last around 2 weeks from this posting.