Welcome to another episode of my personalized XRPUSD technical analysis for today, September 3, 2020. I consider this as a personal diary of my own trading. I find trading now as part of my daily life. So I am aiming my best to improve every day. All my analysis will be based solely on the current time of screenshot with my trading view chart.
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.
I am reminding my dear readers and followers that all the contents from this article and my previous ones are my own personal views and does not guarantee profits nor advice. I am doing all my best to express my own analysis using the indicators that I have chosen.
First of all I would like to ask an apology for not being able to post the technical analysis yesterday. :-)
I got so busy with a lot of things and I was so tired.
I am going to make a quick report in the past 2 days. So let’s move on.
Yesterday, that’s September 2, 2020, a reversal price correction took place that is very similar last August 2, 2020!
XRPUSD intraday price reached as high as 0.30400 but immediately corrected as low as 0.26335!
But the August 2, 2020 reversal was worst! Where price plummeted as high as 0.32665 and was corrected as low as 0.25000 level.
How in the world that the reversal occurred 2 times in just a month that passed by? And both on dates 2? August 2 and September 2. Purely coincidence? :-(
My 12 XRPUSD long positions net profit as of September 3, 2020 up by 27.73% only. Too much draw-downs happened in just 2 days! Oh LORD help me! :-(
Chart was screenshot at 7:48PM Philippine time. Courtesy of Tradingview.com
Intraday’s key statistics:
Intraday Open – 0.27567
Intraday High – 0.27862
Intraday Low – 0.26529
Intraday Current (based on my screenshot) – 0.26844
XRPUSD intraday is down by 2.76% at the time of chart screenshot!
Today’s volume is slightly heavy traffic at 22.515 Million. Sell! Sell! Sell! Bear! Bear Bear!
Today’s intraday resistance and support levels based on the Bollinger Bands indicator are:
0.28 – 0.31 levels
0.25 cent level is the only support left! Last stand. :-(
The King coins are bleeding as well! BTCUSD in negative 1.14% while ETHUSD in negative 3.07%.
Today’s Binance Top 10 Cryptocurrencies showing the BNB tokens in green only.
Image Courtesy of Binance.com
The Overbought-Oversold Zone:
The Bears angrily took control in the last 2 days of trading. The early Bullish run yesterday was just an illusion! The XRPUSD tried to carry the momentum on yesterday’s crypto trading like what the ETH did last September 1st but the cross-border settlement token finally entered the red-zone by 3PM PH time!
In my 50 days of trading, 29-21 total score in the Overbought-Oversold Zone. Though the Bears controlled the zone in the last 2 days, Bulls are still leading the overall score.
1% has been gone on the long-positioned clients as of today.
Image courtesy of Dailyfx.com
Sad day but I still have some hopes. You may read the news below as a conclusion of my report for today:
https://cryptopotato.com/blood-bath-total-market-cap-shrunk-23-billion-as-btc-lost-5-and-eth-15/
That’s all for today! Hope you enjoyed reading.
Don’t forget to write comments below this article for any corrections, questions or additional info that I might missed.
Have a great day ahead! Stay tuned for more XRPUSD analysis! Thank you!
HAPPY TRADING!
God speed.