This Idea will also be continuously updated as my previous one, so stay tuned!
I am writing this second time as a while ago I was revising my writing and that I have successfully pressed ctrl+w, aaand it was all gone. So hopefully I not gonna miss any other of my points.
I was doing a on XRP two days ago and I was all looking very great! But Bitcoin had to shown his dominance and again take the whole crypto market with him. But XRP is still holding on last uptrend and waiting for Bitcoin to give him decision about its next price move or a trend.
Its nothing unusual as Bitcoin is in my opinion Indicator for the whole crypto market, that's why its very important to watch Bitcoin when trading ANY alt coin, as they all have to obey and follow Bitcoin .
Lets focus on the most important thing on this chart.
Those two overall uptrend support lines which together are creating overall uptrend between and around them. This support is the key one for Bitcoin to maintain its price moving upwards and pushing for that higher highs.
If Bitcoin breaks this support, and falls below it.. it would be like a falling catching knife on some support line. From there can a slight uptrend be seen and the whole process of uptrend repeated, which means finding support, breaking resistance at higher level, then finding support at that resistance and so on.. But even if that happens, these two lines which are now supportive would be considered as a strong uptrend resistance.
But if Bitcoin manages to find support at this uptrend zone, it shouldn't have any problems with heading back to the known and from there bulls are able to perform the same move as bears when they pushed from 8700 right to 7800.
My is conscious of that Bitcoin is testing 12H last level, which is 40.
That would be all from me!
If you think that I have forgot to mention something important, ask me down below!
Also I will post regular updates in any time frame to keep you guys updated with the most recent moves!
Thanks and good luck trading!