Hello guys,
Ripple XRP has been consolidating for a long now and is looking for a huge breakout. Since the dump most alts have underperformed and shedded more than half their values but their time will come to shine.XRP in comparison to other cryptos held strong and respected it's support, even though I myself was expecting it to show a drastic recovery but it failed.
Now from here two scenarios are possible
First if we are able to prevent the btc death cross for a few days then there's possibility that the bulls may return and rally it to strong resistance 1.04USDT where a small and healthy correction is expected and then moving to the moon breaking other resistances, with small corrections.A new ATH would form (2USDT).To confirm this look closely for volume.
Second btc death cross( 50-day crosses below the 200-day moving average) takes place and market proven bearish, well I hate to say,it will tank very rapidly and revisit previous lows(0.6USDT) and much more lower maybe 0.5USDT.
Which scenario is likely to happen?
Even though countries are spreading really nice news like El Salvador and Paraguay but no such effect is seen.Similarly Michael Saylor who has put his life on line and invested heavily isn't able to wake up the bulls.Warren Buffet is also now indirectly linked to btc but what people believe in is Elon Musk's tweets which is really annoying.I would say the safest buying zone would be when Tesla accepts bitcoin as payment, this would take time.
A question would be arising for some that why am I relying on btc,well every crypto is traded against btc so If btc falls it drags others too.
If are FOMOing then invest in the (.75-.80 range) but remember keep some fiat for future or invest half of what u are determined to.LEVERAGING IS NOT RECOMMENDED.
if u can't keep yourself from leveraging then don't open a position above 5X leverage and a SL if there's a triangle breakdown.
"The court denied the Securities Exchange Commission’s (SEC) request to search for records of Ripple’s General Counsel and Deputy General Counsel for being privileged communications."-A nice news for RIPPLE Inc.
MAJOR SUPPORTS-
0.63
0.77
0.88
1.11
MAJOR RESISTANCES-
1.0
0.8
1.2
A bright future ahead for alts.For those already bought KEEP HODLing.
HAPPY TRADING,
YOURS' TRULY OVLANIC..
Ripple XRP has been consolidating for a long now and is looking for a huge breakout. Since the dump most alts have underperformed and shedded more than half their values but their time will come to shine.XRP in comparison to other cryptos held strong and respected it's support, even though I myself was expecting it to show a drastic recovery but it failed.
Now from here two scenarios are possible
First if we are able to prevent the btc death cross for a few days then there's possibility that the bulls may return and rally it to strong resistance 1.04USDT where a small and healthy correction is expected and then moving to the moon breaking other resistances, with small corrections.A new ATH would form (2USDT).To confirm this look closely for volume.
Second btc death cross( 50-day crosses below the 200-day moving average) takes place and market proven bearish, well I hate to say,it will tank very rapidly and revisit previous lows(0.6USDT) and much more lower maybe 0.5USDT.
Which scenario is likely to happen?
Even though countries are spreading really nice news like El Salvador and Paraguay but no such effect is seen.Similarly Michael Saylor who has put his life on line and invested heavily isn't able to wake up the bulls.Warren Buffet is also now indirectly linked to btc but what people believe in is Elon Musk's tweets which is really annoying.I would say the safest buying zone would be when Tesla accepts bitcoin as payment, this would take time.
A question would be arising for some that why am I relying on btc,well every crypto is traded against btc so If btc falls it drags others too.
If are FOMOing then invest in the (.75-.80 range) but remember keep some fiat for future or invest half of what u are determined to.LEVERAGING IS NOT RECOMMENDED.
if u can't keep yourself from leveraging then don't open a position above 5X leverage and a SL if there's a triangle breakdown.
"The court denied the Securities Exchange Commission’s (SEC) request to search for records of Ripple’s General Counsel and Deputy General Counsel for being privileged communications."-A nice news for RIPPLE Inc.
MAJOR SUPPORTS-
0.63
0.77
0.88
1.11
MAJOR RESISTANCES-
1.0
0.8
1.2
A bright future ahead for alts.For those already bought KEEP HODLing.
HAPPY TRADING,
YOURS' TRULY OVLANIC..
Comment:
Scenario 2 likely to happen as triangle breakdown started,critical support holding; may revisit 0.65 range sooner than mentioned cause btc looks definitely in a bear market.Wait for a few days until the dust is clear and then invest with confidence.As aforementioned LEVERAGING IS NOT RECOMMENDED.
DYOR