- Since our last analysis of BTC/XRP, we stated that we may see a push upwards on XRP to the 1.55$ price level and 56,000$ on BTC respectively. We have seen price average at these levels but highs have been made on XRP to 1.70$ and 58,900$ on BTC. In essence, we should have been in the long positions but for whatever reason, I decided to let it go for reasons to be explained below.
- We are actually seeing an inverse head and shoulders formation being formed on BTC (which the whole market follows). What is overshadowing this and is more prominent in trading terms is the bearish divergence that can be seen on larger time frames. What does this tell us ? That a massive crash in price is near to happening again.
- From current levels, we should see price begin its descend to the 1.30$ price level on XRP and 53,000$ price level for BTC. Thereafter, I do foresee that there will be further price crashes to eventually bring price back to the 0.80$ level on XRP and 43,975$ for BTC. At both of these levels lay EMA 200 support, whereby we could see bull run spring into action again.
- I hate to be the bear but I am a long term trader and I have been doing this since 2015 and have enjoyed all the fruits that crypto has to offer (life changing actually) but many a time, I have seen that greed kills and following the masses is always the wrong choice to make because they always all get wiped out. If you are a HODLER, stay HODLING (we always win!) but bare in mind of these facts please!
- My money is currently in USD from selling at highs created and I could have easily purchased back my assets at the lows of 0.95$ and 43,975$ but for whatever reason, I did not do this and that’s not a problem as I expect to buy back at even lower prices. This should now be the second time that we correctly predict total wipe out since founding this channel!
Current prices:
BTC - 57,934$
XRP - 1.61$
- We are actually seeing an inverse head and shoulders formation being formed on BTC (which the whole market follows). What is overshadowing this and is more prominent in trading terms is the bearish divergence that can be seen on larger time frames. What does this tell us ? That a massive crash in price is near to happening again.
- From current levels, we should see price begin its descend to the 1.30$ price level on XRP and 53,000$ price level for BTC. Thereafter, I do foresee that there will be further price crashes to eventually bring price back to the 0.80$ level on XRP and 43,975$ for BTC. At both of these levels lay EMA 200 support, whereby we could see bull run spring into action again.
- I hate to be the bear but I am a long term trader and I have been doing this since 2015 and have enjoyed all the fruits that crypto has to offer (life changing actually) but many a time, I have seen that greed kills and following the masses is always the wrong choice to make because they always all get wiped out. If you are a HODLER, stay HODLING (we always win!) but bare in mind of these facts please!
- My money is currently in USD from selling at highs created and I could have easily purchased back my assets at the lows of 0.95$ and 43,975$ but for whatever reason, I did not do this and that’s not a problem as I expect to buy back at even lower prices. This should now be the second time that we correctly predict total wipe out since founding this channel!
Current prices:
BTC - 57,934$
XRP - 1.61$
