DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.
Happy Tuesday to all my avid followers and readers alike! Hope you are all safe and sound today. It’s the first day of the “BER” months. Is is Christmas already? ;-)
If you are a trader like me, whether you’re in Forex, Commodities, Stocks, or Precious Metals, seeing the charts candlesticks in green always put a smile in our faces right? Now you’re smiling.
Green candlesticks are always loved especially by long traders.
In my analysis report yesterday, I mentioned there that I am bullish for XRPUSD as it enters the first day of September. And today it did! That happened exactly like the way I want it to be.
In case you missed my report yesterday, you may read it here:
Daily XRPUSD Technical Analysis – August 31, 2020
As September 1st debut, the XRP and ETH holders, traders, and enthusiasts alike all over the world have reasons to be happy as Flare Network discloses the snapshot date of XRP’s utility fork tokens airdrop.
Full news details here:
https://u.today/xrp-flare-fork-organizers-disclose-its-snapshot-date
My 12 XRPUSD long positions statistics as of September 1, 2020:
Open Trade # 1 – up by 434 Pips
Open Trade # 2 – up by 368 Pips
Open Trade # 3 – up by 326 Pips
Open Trade # 4 – up by 313 Pips
Open Trade # 5 & 6 – up by 278 Pips each
Open Trade # 7 – down by 76 Pips
Open Trade # 8 – down by 22 Pips
Open Trade # 9 – down by 15 Pips
Open Trade # 10 – up by 113 Pips
Open Trade # 11 – up by 10 Pips
Open Trade # 12 – up by 13 Pips
I got a total of 9 winning positions while 3 losing ones. My total net profit at the time of writing this article is up by 41.13%.
Chart was screenshot at 6:15PM Philippine time. Courtesy of Tradingview.com
Intraday’s key statistics:
Intraday Open – 0.28139
Intraday High – 0.29567
Intraday Low – 0.27589
Intraday Current (based on my screenshot) – 0.29090
XRPUSD intraday is up by 3.42% at the time of chart screenshot
Today’s volume is slightly heavy traffic at 31.938 Million. Buying spree mode!
Today’s intraday resistance and support levels based on the Bollinger Bands indicator are:
0.30 – 0.31 levels
A little above the 0.26 – 0.27 cent levels.
The King coins are both very healthy today led by ETH’s skyrocket upside heading towards $500 mark.
Today’s Binance Top 1 Cryptocurrency award goes to ETH! Followed by XRP at 2nd place.
Image Courtesy of Binance.com
The Overbought-Oversold Zone:
The Bulls immediately seized power after the Bears ended their 3-trading day win streak yesterday. The overall score is now 29-19 still in raging Bulls’ favor leading by 10.
Still 97% of clients go long for the XRPUSD as of today. I speculate that there will be an increase as we head towards the snapshot date of XRP’s utility fork tokens airdrop.
Image courtesy of Dailyfx.com
As a conclusion of my technical analysis for today, I will leave this news article here:
Bitcoin and Altcoins Start Fresh Increase Led By Ethereum’s 10% Rally
ETH has carried the Bitcoin, XRP and the rest of the altcoins gang for this bullish trading day. Kudos to the smart-contracts token! :-)
That’s all for today! Hope you enjoyed reading.
