Just using simple indicators for this one. Check for reversal patterns, wait for the 3hr candle to close. This correction seems fairly bullish . Wouldn't give up on it just yet. 30 min indicators tell me that this current correction still has ways to go.
If this current correction drags out (which I think it will), I will expect it to at least touch grounds with the 55 EMA at around 3400 Sat and lower.
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LESSON: NEVER manage too manage positions at once. LMAO I was scalping ripple and forgot that I depleted my position on it. I thought I was still holding and was utterly disgusted when I saw it take off again. Missing out on 15% in minutes :'(
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BOY was that quick!! Long Position closed. Hopefully you guys weren't dumb like me and got in on that quick run. Don't think it's going any higher than this.
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For those that have the ability to short...
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Targets for correction are pushed up 200 satoshi
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OMG hahaha it's going higher what the hell. Just wait and be patient guys. It can only go up so much higher before its too overbought.
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Update
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This next 3 hour candle forming will likely be a shooting star. A confirmation of the end of the trend and one last push up before we are headed south.
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Guys i forgot to mention that we hit our target on RIpple! We targeted the 55 EMA on the 30 min candle and it hit right below our correction range (remember we added 200 satoshi, so our range was anywhere below 3700)
Congrats if you got in on that.
BUT, I think there will be plenty more opportunities to short this sucker. Like I said before, this thing will correct for DAYS. And DAYS is an ETERNITY in cryptocurrencies because you watch all of your friends go out and have fun while mommy says you need to stay in an clean dishes.
I think we will see an ABCDE correction here, with some few touches on the 3hr 55 EMA, with possibly even going under it for our E wave. I don't know how the hell the ABCDE wave will look, but I think our D wave will look like a fake breakout and everyone will be sadly disappointed when it happens.
There will be MANY opportunities to short this sucker. I think there will be another short opportunity very soon when Bitcoin starts wave 3. But Ripple won't see a dollar for a few days in my opinion.