So bitcoin has been consolidating after breaking a minor structure on the weekly time frame and this consolidation is building up to be a very good long opportunity but we need to wait for one more drop into structure before its showtime!
Okay so following my post yesterday, we can see that the market did reverse but now it has come into a minor structure level which could decide the direction of this crypto. The selling pressure has decreased and that's a bit concerning so I don't think we will see a break so i'm slightly favouring upside at this moment!
Looks like ripple took an unexpected turn and now my analysis has completely changed, If you are already long on XRPUSD then wait for a possible retracement back to 0.30-0.31 area before getting out and look for shorting opportunity because I think we are going down to break the low again before we see another rise!
We are at a decision point which I predicted weeks ago in one of my posts, there is a huge upside momentum however, the RSI is oversold on a higher time frame and the market has come into a previous structure level. I expect this market to respect this level in the coming days and give us a slight correction to the downside before we continue the bullish trend but...
Bitcoin has been correcting for the last few days and the correction looks to be finally over and this market is ready to now so either buy it now and enjoy the profit that's coming or you wait and see it go up and wished you had invested! Your choice!!!