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Daily FXT (Ripple 96% Long)


CryptoDrover
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Think this is the correct play to post this.... In any case thought it very interesting.

 

https://mobile.twitter.com/DailyFXTeam/status/1072934121662484480/photo/1

 

 

image.png.0cd7d1f7a05d141365d34204965f1b01.png

 

p.s.  I have gold, silver and ETH... so for the love of all.... PLEASE let see some upward movement this up coming year :)

 

Edited by CryptoDrover
back water editing commands.
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3 hours ago, CryptoDrover said:

I have gold, silver and ETH... so for the love of all.... PLEASE let see some upward movement this up coming year :)

Have you looked into the miner stocks? Personally I own stocks in several gold/silver mines. 
If you are looking for the big gains (and risk), look at junior miners specifically.

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Correct me if I am wrong...but I would look at this as a contrarian indicator.

If ~96% of the clients are long in that market, while it does highlight the positive investor sentiment in that asset, it isn't really driving price up and is probably currently acting to maintain it above the support levels. These ratios change quite quickly/frequently, and shorts have also dipped below ATH, so any short squeeze will be subdued in comparison with ETH/BTC who have shorts near ATH.

TLDR; This shows traders/investors are positive, but if prices dip again and drop below support this can weight on XRP price more heavily than other top crypto's and any potential short squeeze will probably see us XRP having smaller gains.

I would be far more confident if price was holding up where it is/showing some bullishness with shorts at ATH, as you would know any rally still has lots of legs left.

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5 hours ago, 30k1m said:

Have you looked into the miner stocks? Personally I own stocks in several gold/silver mines. 
If you are looking for the big gains (and risk), look at junior miners specifically.

Why yes!  We have a my Little Ladies employee's self-directed retirement account some 50% in a gold miners fund.  (Mostly the majors as they don't offer much else)

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3 hours ago, Agrilax said:

Correct me if I am wrong...but I would look at this as a contrarian indicator.

I don't disagree... not possessive on how to read this.  First time I've really looked at it and one of the reasons I posted it here, see what y'all thoughts were :)

 

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8 hours ago, Agrilax said:

I would be far more confident if price was holding up where it is/showing some bullishness with shorts at ATH, as you would know any rally still has lots of legs left.

That was my first thought-there won't be a short squeeze, but an unwillingness to short could also be an extremely bullish indicator? I guess we shall see...

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1 hour ago, Jimmyt said:

Long Ether??

Ether has been hammered relentlessly for the last couple of months.   If you're playing the contrarian angle then it would certainly be up there.  

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