Traders,
Stopped out of two positions on Monday and Tues., LTC and XRP. This is frustrating I know. But on the positive side, it does appear that lots of accumulation is now occurring, at least on the XRP token. Let’s review.
LTC could still be working on a break of that orange descending TL, a neckline of a possible inverse H&S I have drawn. However, before this, it does look like it might want to come down and touch that $60 mark. And we have to watch that support on the RSI. Confirmation comes tomorrow as to whether or not that support is now broken. Personally, I am not interested in re-entry again unless we get $60. I may set a buy order for this target down price.
XRP looks like it wants to come down and touch the 47 cents area. RSI supports this thesis. I will look to set a buy order at this price should we touch that.
Also, I have seen multiple reports showing that the whales are now, again, starting to accumulate down here - a good sign for the future of this token for sure!
Currently, I am now only holding COMP and BTC. SLs remain unchanged (see spreadsheet below).
I want to say one last thing. Trading in this environment with multiple wars on the crypto front by the SEC helping to create the longest crypto bear market ever, and also, multiple wars globally with extremely fragile geopolitical events are all very, very difficult and creates great uncertainty. If you all can manage to hang on until we can get through to the other side of this dark tunnel (most traders cannot), I remain optimistic that great things are about to come for crypto!
Best to you in all your trades!
Stew