With XRP taking a hit by the SEC, all market is tanking. 20MM wiped out of the XRP marketcap and a lot of actors take their L and exit the crypto market in USDT or in USD.
However XRP should stop dumping hard now, the news made it through the whole world, everybody who had to panic panicked already.
Technically we are seeing a diamond on BTC which is a bearish pattern, target should be blue boxes -> buy if you see a 1H or better, a 4H bullish divergence on the trend. After studying 2016/2017 bull market, the retracement takes usually 20 days + and we retrace 25/30% average. However I don't think we will retrace that much bc market is much more dense than It was in 2017. Lots of people got out at ATH and seek reentry.
The only thing making me think that we are not dumping from here is grayscale (which publicly disclose Crypto holdings) bought in this 22k/24K range 20 000 BTC the last 2 days -> institutions are fucking buying loads and loads of BTC and funding rates are standards again. IF we pump from here im seeing 26K top before we chill a bit more.
in either case I won't be trading during the range, ill wait for a break of either side!
ATM im still all in long BTC and overall we are still on the path to 100K BTC so don't panic and sell your BTC if we dump!
However XRP should stop dumping hard now, the news made it through the whole world, everybody who had to panic panicked already.
Technically we are seeing a diamond on BTC which is a bearish pattern, target should be blue boxes -> buy if you see a 1H or better, a 4H bullish divergence on the trend. After studying 2016/2017 bull market, the retracement takes usually 20 days + and we retrace 25/30% average. However I don't think we will retrace that much bc market is much more dense than It was in 2017. Lots of people got out at ATH and seek reentry.
The only thing making me think that we are not dumping from here is grayscale (which publicly disclose Crypto holdings) bought in this 22k/24K range 20 000 BTC the last 2 days -> institutions are fucking buying loads and loads of BTC and funding rates are standards again. IF we pump from here im seeing 26K top before we chill a bit more.
in either case I won't be trading during the range, ill wait for a break of either side!
ATM im still all in long BTC and overall we are still on the path to 100K BTC so don't panic and sell your BTC if we dump!