Haven't done an alt chart for a while as BTC has been in a long correction, but now it is collapsing its time to look at some alts.
These are just charts. I'm not here to tell you which crypto is going to save the whales or not.
XRP - one of the older coins has certainly been an underperformer and didn't see an ATH this cycle.
Its go caught up in a long and broad contracting triangle for exactly a year and the projected break down should take it back to the lows.
From there I think this is going to end up printing a zig zag WXY to find a lower low to print an equidistant 1:1 Fibonacci extension which without coincidence will overshoot to hit support @ $0.061.
A 1:1 Fibonacci time extension will arrive to 2023 and with some overshoot could conclude around EOY 2023 which would coincide with BTC halving cycle.
I'll probably cover some more alts here and there.
Not advice.
These are just charts. I'm not here to tell you which crypto is going to save the whales or not.
XRP - one of the older coins has certainly been an underperformer and didn't see an ATH this cycle.
Its go caught up in a long and broad contracting triangle for exactly a year and the projected break down should take it back to the lows.
From there I think this is going to end up printing a zig zag WXY to find a lower low to print an equidistant 1:1 Fibonacci extension which without coincidence will overshoot to hit support @ $0.061.
A 1:1 Fibonacci time extension will arrive to 2023 and with some overshoot could conclude around EOY 2023 which would coincide with BTC halving cycle.
I'll probably cover some more alts here and there.
Not advice.
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If you like this alt content leave a like and/or comment and more people will get to see and I may cover more alts, do updates etc 👍🏻. If you dont like this content you can still leave a comment if you like 😄.
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Kudos to @brutusmarkets, for being upfront about his trade. It does make it more interesting to get counter trades / ideas in advance not in hindsight.
So his entry is $0.39 and there is quite a lot of bullish cause for buying here.
1) Wick through 2017 support.
2) Weekly RSI lowest ever.
3) 1:1 hit
4) Support found on diagonal trendline.
5) Stock indexes turning bullish.
And who knows he may be right or at the very least get a good bounce. I dont think its a bad play at all. But for me I dont like this chart and not in this area. If that trendline breaks I think capitulation is coming, and I think more downside is coming for BTC before a bounce.
Anyhow we'll see and GL.
So his entry is $0.39 and there is quite a lot of bullish cause for buying here.
1) Wick through 2017 support.
2) Weekly RSI lowest ever.
3) 1:1 hit
4) Support found on diagonal trendline.
5) Stock indexes turning bullish.
And who knows he may be right or at the very least get a good bounce. I dont think its a bad play at all. But for me I dont like this chart and not in this area. If that trendline breaks I think capitulation is coming, and I think more downside is coming for BTC before a bounce.
Anyhow we'll see and GL.
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Quietly confident XRP is going to go much lower. We'll see.
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Forgot to update this one but in consideration of BTC probably a bounce coming for XRP that may perhaps take it up to around 0.9 - $1 before heading lower. Maybe my target is a little too deep here but I think good chance it does re-test the lows.
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Well BTC doing nothing so this idea may well be on target.
@brutusmarkets is about to show us how to turn $10K into $1K in less than a year 😸. Assuming he did actually buy then he'll be 15% down already to lose $1.5K so far.
@brutusmarkets is about to show us how to turn $10K into $1K in less than a year 😸. Assuming he did actually buy then he'll be 15% down already to lose $1.5K so far.
I'm taking a break from TradingView but you can find me every day in my Telegram Trading Group 🧐
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
$50 per month 👍🏻.
Contact: t.me/dRends35
Priority trades, round the clock updates and a 1 hour technical video per week 😼.
$50 per month 👍🏻.
Contact: t.me/dRends35