As this run continues, expect a reversal at the resistance formed by the 20k and 14k highs. Price should find support and break out after consolidation. (Although not likely, it is possible it will break the 20k & 14k resistance so play the area conservatively)
So my previous chart I explained the market cap and dilution issue I have with XRP, Here is a chart over a 5 year period showing the divergence in bitcoin and XRP and how dominance has changed relative to the dollar.
At first XRP was Trading stronger against bitcoin relative to the dollar, but as time progressed, XRP ended up trading weaker against bitcoin in...
One thing I have noticed while trading and investing in crypto, is that many people neglect to take shares outstanding or "Coins outstanding" into account. Many fall victim to clever marketing campaigns and a lack of investing knowledge. XRP has 100,000,000,000 shares outstanding. Yes, thats 100 billion with only 43 billion currently in circulation. Current market...
I've been seeing allot of FUD recently in regards to the long-term outlook of Bitcoin. Everything is lining up nicely and nothing seems out of the ordinary. The general target myself and others have for a new ATH is $250,000 USD. This aligns perfectly with the current contoured trend and matches the consensus on longer price cycles. Bitcoin also will see a halving...
Chart is self explanatory
impulse wave, take profit when price touches bearish channels resistance, price should enter a correction and possibly reverse if support is found. If this happens, enter long conservatively because its likely to lead into a breakout.
Like always, im not one to type out some descriptive bullsh*t when we all can easily read charts without some narrative explaining what we can all see. With that being said, price may break below support. If that happens, next lvl is the 6400 range. Id expect this to hold strong and reverse price upward. This would turn previous support into new resistance........ Fin
-Watch For double Bottom or broken support
-If support holds and makes a double bottom, watch for upward and sideways movement starting to form a cup and handle.
-If support broken, next defensive support @ 100 range
18 million every year ETH Minted every year.
Market cap 16 Bn
Supply: 109 Mn
Market cap would have to increase by 2.7...
From here we should see price re-test the current support. Once confirmed, price should reverse, break through minor resistance before re-testing the greater trends resistance. This should hold before price consolidates leading into a breakout