TheBossTrader

$XRP.X Ripple has the potential to hit bottom of lower channel

BINANCE:XRPBTC   Ripple / Bitcoin
At this point it is obvious that Ripple is in a downtrend and some are recommending to buy it now but I think that would be a mistake. Based on the chart it has the potential for much more pain in the short term and could possibly test the bottom of the lower channel. In addition Ripple has broken below the 200EMA and I would consider it a no touch until the dust settles.

Based on the current decline a buy point could be around the mid 0.00011 Satoshis.

Good luck.
bought around 0.00016 then realised this coin is shit! do you recommend buying with lose or hold? please advise
Balas
alharbi.maher alharbi.maher
@alharbi.maher, sorry i mean selling with loss or hold?
Balas
TheBossTrader alharbi.maher
@alharbi.maher If you don't mind, please answer these questions so I can help you better. What is your risk tolerance? What is your time frame for the trade? Why did you buy at this level? What was your price target and did you have a stop in mind?
Balas
TheBossTrader alharbi.maher
@alharbi.maher, Go here to see my next analysis. This should be helpful to you.
Balas
Valid points. I wish I had read this earlier.
Balas
@imransid, Good luck to you
Balas
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