Not financial advice. Do your own research. The ideas posted here are the personal thoughts of the BitDoctor Team.
Back on January 4th, I instructed many of you to get out of ripple so I figured it would be appropriate to give an update on where we're going.
I have no reason to believe XRP is bullish yet. There was a decent bullish candle in late January but as you can see we've already retraced 100% from there. I'm seeing a lot of confluence for support at 7700 to 7900 and if you decide to try and catch that knife you should watch the reaction there. I expect there to be some algos that will buy there but as a retail investor you should trade the reaction and set a stop loss once it's in profit. Assuming it doesn't fall through it completely... which it might. That's the gamble you take when you try and catch a knife instead of trading a bounce.
If we fail 7700, I do see support at 6300 still.
If I see any indication that trends are changing, I will inform my followers, otherwise, this is my trade... unchanged... since Jan 4th.
Trade safely friends!
<3 -CE-
Back on January 4th, I instructed many of you to get out of ripple so I figured it would be appropriate to give an update on where we're going.
I have no reason to believe XRP is bullish yet. There was a decent bullish candle in late January but as you can see we've already retraced 100% from there. I'm seeing a lot of confluence for support at 7700 to 7900 and if you decide to try and catch that knife you should watch the reaction there. I expect there to be some algos that will buy there but as a retail investor you should trade the reaction and set a stop loss once it's in profit. Assuming it doesn't fall through it completely... which it might. That's the gamble you take when you try and catch a knife instead of trading a bounce.
If we fail 7700, I do see support at 6300 still.
If I see any indication that trends are changing, I will inform my followers, otherwise, this is my trade... unchanged... since Jan 4th.
Trade safely friends!
<3 -CE-
