Why BTCUSD could hit $5,772

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar

1. The cloud is negative meaning lower price is expected into the future.
2. The wide gap also indicate high volatility which is a sign of downward movement.
3. Chinkou span make been making lower low
4. Kinjun - sen have define a clear line of resistance at around $13,200.
Note : price may consolidate around this region before the downward movement
5. Target 1 is chosen because of the volume action on 17/01/2018. Market can only move higher only when there is evident of no seller within that region. Hence price must test that region again.
6. Target 2 depepend on price and volume actions when target 1 is achieved.
if btc goes down what will happen to xrp ? up or down?any idea sir ?tnx..
ajrigor ferhat8ler
@ferhat8ler, It is incredibly evident that all cryptos have a sync in their trends, so by this assumption and @davepop2006 's idea, we can assume that xrp could also see a dip into the .80's or .70's
@ajrigor, yes 80% certain i am waiting to buy @ that price
davepop2006 ferhat8ler
@ferhat8ler, xrp will follow all major coins tend to move in the same direction
CME future contract ends on the 26th so we might see a crash similar to from the 17th when cboe's contracts ended
@chadzi1, that is another important indicator ,please send me link where to get that info
elliott says 5700 is definite possible. good luck and nice work
@bshgeo, if btc goes down what will happen to xrp ? up or down?any idea sir ?tnx..
bshgeo ferhat8ler

Hello and thanks for the question. I am sure you noticed the cryptos all pretty much follow Bitcoin price. The reason is they all are traded paired to bitcoin - bitcoin is traded against the dollar. So if bitcoin goes down the others also follow it down usually, although to lesser degrees in some coins. I have not ran elltiott wave on ripple but if bitcoin goes down strongly I would expect ripple to also go down quite an amount. When the coins or if I should say start trading agianst fiat instead of paired to bitcoin then they will all react much differently as they will not follow bitcoin as close in price movements. Good luck with ripple I do not trade it so sorry I cant be of more specific help.
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