⚡️ Hi, I have no time so I'm just keeping this short. Been absolutely burnt out with work, I barely have time for myself as it is with everything going on, but I'll at least get this idea out and respond to some comments later when I get more time.
⚡️ I did try to post an idea on the 7th however for whatever reason trading view didn't let me but I have attached the chart I had for that below.
⚡️ And here's with the title
⚡️ XRP did have that ascending channel and that was what I wanted to point out in the idea I wasn't able to get out, wanted to warn about that but now we can see the result after having lost that ascending channel which ended up pulling us down to just about where the channel itself started with us even getting that major pull down, longs squeeze. No doubt some whale or institution sold to knock out those longs.
⚡️ Above 0.479 XRP's managed to keep some grip though that in itself is a bit understated no doubt, I'd like to see more action first above 0.479 since this is the first time we're here since just about a month ago basically. Definitely set some alerts for 0.4973 in case we revisit below that though I doubt we'll see another fall quite as dramatic as the one on the 9th.
⚡️ Most of this was just a perfect set of events for the fall with the SBF trial ongoing throwing some shade at crypto and no doubt dimming public opinions and sentiment thus shaking up the market more at a time when Bitcoin was looking at possibly breaking some local levels which promptly ended up dumping Bitcoin below that $27,000 mark and sending the rest of the market down with it including XRP of course.
⚡️ So it's not just XRP that's taken the hit, the market as a whole has and in our case we had the two catalyst with the first being the loss of that 200 EMA on the hourly, 4 hour which was then confirmed once we lost and exited the Ascending channel failing to stick above 0.52 and getting dumped on.
⚡️ I'm not stressing crazy right now, we have seen this before but still always find it funny how the perfect storm seems to brew every time for crypto, we'll have good news and sentiment raise us up and help form good movement, and then we'll have weeks like this which do the exact opposite, for example we have the SBF FTX trial ongoing and we even had Jim Cramer yesterday commenting and issuing a 'major Bitcoin price warning' with him even being quoted: "A lot of the people who watch us are searching for ways not to lose money but to make money. I can't go out with gold cause gold is not good. I can't go out with Bitcoin because...Mr. Bitcoin is about to go down big". Definitely doesn't help us.
⚡️ To me just seems like a narrative, the whales pump up the news and sentiment buying in, then when they decide to sell they put out FUD like the jim cramer which in turn ends up helping send prices down, of course before this happens they make sure to take their profits and sell at the high before buying down at the lowest points and buying back in for a cheap price. They sell high and buy low.
⚡️ I have to go but all the best till next. Bye
~ Rock '
⚡️ I did try to post an idea on the 7th however for whatever reason trading view didn't let me but I have attached the chart I had for that below.
⚡️ And here's with the title
⚡️ XRP did have that ascending channel and that was what I wanted to point out in the idea I wasn't able to get out, wanted to warn about that but now we can see the result after having lost that ascending channel which ended up pulling us down to just about where the channel itself started with us even getting that major pull down, longs squeeze. No doubt some whale or institution sold to knock out those longs.
⚡️ Above 0.479 XRP's managed to keep some grip though that in itself is a bit understated no doubt, I'd like to see more action first above 0.479 since this is the first time we're here since just about a month ago basically. Definitely set some alerts for 0.4973 in case we revisit below that though I doubt we'll see another fall quite as dramatic as the one on the 9th.
⚡️ Most of this was just a perfect set of events for the fall with the SBF trial ongoing throwing some shade at crypto and no doubt dimming public opinions and sentiment thus shaking up the market more at a time when Bitcoin was looking at possibly breaking some local levels which promptly ended up dumping Bitcoin below that $27,000 mark and sending the rest of the market down with it including XRP of course.
⚡️ So it's not just XRP that's taken the hit, the market as a whole has and in our case we had the two catalyst with the first being the loss of that 200 EMA on the hourly, 4 hour which was then confirmed once we lost and exited the Ascending channel failing to stick above 0.52 and getting dumped on.
⚡️ I'm not stressing crazy right now, we have seen this before but still always find it funny how the perfect storm seems to brew every time for crypto, we'll have good news and sentiment raise us up and help form good movement, and then we'll have weeks like this which do the exact opposite, for example we have the SBF FTX trial ongoing and we even had Jim Cramer yesterday commenting and issuing a 'major Bitcoin price warning' with him even being quoted: "A lot of the people who watch us are searching for ways not to lose money but to make money. I can't go out with gold cause gold is not good. I can't go out with Bitcoin because...Mr. Bitcoin is about to go down big". Definitely doesn't help us.
⚡️ To me just seems like a narrative, the whales pump up the news and sentiment buying in, then when they decide to sell they put out FUD like the jim cramer which in turn ends up helping send prices down, of course before this happens they make sure to take their profits and sell at the high before buying down at the lowest points and buying back in for a cheap price. They sell high and buy low.
⚡️ I have to go but all the best till next. Bye
~ Rock '
