Haven't really been looking at Crypto lately due to other obligations but a friend of mine asked my opinion on XRP and if I thought it was entering a new Bull market soon considering BTC has hit 9400.
Drew this out real quick and thought it was interesting enough to save so I can remember what I did. Explanations are on the chart.
Opinion: Currently no signal to short or buy.
Note: Short data on the 1 minute is a great indicator of whether or not price is moving due to organic buying or a short squeeze, dont short parabolic Alt-coins while it's Shorts are increasing.
Drew this out real quick and thought it was interesting enough to save so I can remember what I did. Explanations are on the chart.
Opinion: Currently no signal to short or buy.
Note: Short data on the 1 minute is a great indicator of whether or not price is moving due to organic buying or a short squeeze, dont short parabolic Alt-coins while it's Shorts are increasing.