Bitcoin sets a new all-time-high at 67K USD and it is important to understand how the money flow in crypto works.
1. Bitcoin rallies into resistance ->
2. Bitcoin gets traded for Big Cap Altcoins ->
3. Big Cap Altcoins rise and rally into resistance ->
4. Money leaves Big Caps and then moves into Mid Caps ->
5. Mid Caps rise and rally into resistance ->
6. Money leaves Mid Caps and then moves into Small Caps ->
7. Small Caps rise and rally until altcoin season is over ->
8. Altcoins finally sell down and trade back to Bitcoin ->
9. Bitcoin rallies and then sells back into fiat/stablecoins until cycle resets.
That being said, Bitcoin has run into resistance and the BTC.D (Bitcoin Dominance) has been decaying. This usually occurs as money rotates out of BTC and into Big Cap Altcoins thereby sparking the beginning of 'Altcoin Season'.
Hence, XRP/USD lies dormant with a similar micro structure to LTC/USD. Should local support hold (1.10USD) then an impulse breakout to 1.25USD or higher is likely.
Conversely, losing local support will likely cause a sell down to Major Support around 1 USD.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
1. Bitcoin rallies into resistance ->
2. Bitcoin gets traded for Big Cap Altcoins ->
3. Big Cap Altcoins rise and rally into resistance ->
4. Money leaves Big Caps and then moves into Mid Caps ->
5. Mid Caps rise and rally into resistance ->
6. Money leaves Mid Caps and then moves into Small Caps ->
7. Small Caps rise and rally until altcoin season is over ->
8. Altcoins finally sell down and trade back to Bitcoin ->
9. Bitcoin rallies and then sells back into fiat/stablecoins until cycle resets.
That being said, Bitcoin has run into resistance and the BTC.D (Bitcoin Dominance) has been decaying. This usually occurs as money rotates out of BTC and into Big Cap Altcoins thereby sparking the beginning of 'Altcoin Season'.
Hence, XRP/USD lies dormant with a similar micro structure to LTC/USD. Should local support hold (1.10USD) then an impulse breakout to 1.25USD or higher is likely.
Conversely, losing local support will likely cause a sell down to Major Support around 1 USD.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party."
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