✳️ XRP vs Bitcoin (Update by request)

This is a reply I gave to @Skorpi_91 in a comment about XRPBTC, if you are trading this pair you might find the reply useful.

We had a lev. trade on this pair and I believe it failed miserably... That's the way it is, the market gives, the market takes.
It is important to follow capital allocation on those...



The drop we saw that ended 20-March we call a "shakeout", this we know due to the fact that it happened fast and yesterday we get a strong recovery.
This is happening within a higher low long-term, vs June 2022.

The jump yesterday sent prices above the 19-Feb. low and it is also high volume.
This again confirms that the last move was a market move to kick people out of their positions, shakeout, liquidity hunt, market manipulation, call it what you will.

The bias now is whatever was happening around late February, which is consolidation before the next move.
The next move can be to either side but taking into consideration the shakeout, it is set to go up.

The only reason why market manipulators would kick people out of their hands is because they are about to push prices up... And they are quite greedy, that's for sure.


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