After my was a bittersweet victory - althought the initial stop loss was triggered and RIPPLE reached new high - all of three targets I marked on the chart were hit perfectly - 2.1, 1.7 and final 0.9, giving very good and profitable outline for XRP shorts.
This time I think we have very interesting and uncommon structure - the extended zigzag. According to Elliott, all extended waves have +4 to their original wave count, so extended zigzag should be 3+4=7 waves. Right now we have slight rebound after this short, drastic fall. Targets for entry and rebounds:
Sell entry (safe): 1.26 Sell entry (bit greedy): 1.31 Target 1: 0.9 - rebound expected after that Final target (most possible): 0.6 Final target (extreme): 0.4 - if that target is reached, very strong rebound will happen in minutes after reaching it
I'll update the targets when the situation will unfold. If you are interested, you can also see
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@1.31 5:18 UTC If you haven't started shorting, now is the good time to start. Target at 0.97-0.9
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Well, that was probably the most boring 10 days in crypto in last year. Take profit targets: (1) 1.02 - smaller wave reversal (2) 0.78 - bigger wave reversal
I don't understand how you can short crypto other than BTC. Can you please explain?
Thanks,
hut5269
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@hut5269, Did some reading and answered my question. Margin trading, at bitfinex or Poloniex for those with the same question. Thanks for the tip @thewhitefox.
thewhitefox
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@hut5269, No problem, sorry for not answering, but your message got lost somewhere between the notifications. I wish you good luck and guts of steel. ;)