Bias is to the downside in the short term as BTC
continues to printing ascending channels so pullbacks from here would be very healthy and would offer great opportunities to buy up those larger dips I am expecting to get more liquidity before overall deciding a direction. As normal we could see a break to the upside or downside but more often than not these channels lean more to downside moves. We will have to wait and see. The two ways to play this IMO is to be buying at keep supply zones or buying continuation once we have support if we break to the upside.
There is a major weekly supply zone
at $41,000 the way we have slowed down after breaking out on BTC
IMO suggests bulls on BTC
at least are struggling. We will have to wait and see if there more of a disconnect between the alts and BTC
. XRP did have a disconnect recently we will have to wait and see.
XRP is showing lovely continuation patterns but I am cautious and waiting for liquidity wicks to the downside to be more confident. I have my longs from 53 and 65 cents still running and I am looking to add more positions if this does happen