Xrp is probably the "crypto" that did rekt the most number of persons during the previous cycle
Purchasing random garbage is a sin, and the market makes you pay for your mistakes sooner or later
Anyway, after lagging behind Bitcoin, xrp finally started its bull run right now
Still very very far from its previous all time highs peak at 3$+, who knows, maybe it will...
Following the Amazon's "fuck late longs + fuck late shorts before the restart wave"
Drawn wave is just an exemple, not a prediction
Still a slight possibility to hit Orange
Can't go wrong buying between 6k and 10k for the long term as it really looks like a second accumulation phase of this market.
Nota Bene: the difference of both structures suggests that...
The bottoming process seems to have failed so far with Ether, with risk greatly increased to reach now lows in some time (below 80$)
An eventual hope would be to see prices raising exactly from here, but this is becoming unlikely for now with the current evolution of the structure
Not looking good, but there is still some hope, especially if its price starts...
Let's keep on making it simple.
We have to wait for a few days and see how Btc behaves at this Blue moving average, and see if it can manage to find support over it (day is not over, there could be a false breakdown).
If it finds some support, this is encouraging and could start another uptrend tryout.
If it doesn't manage to close above and continues below, there...
Support of Fibonacci level with right above the blue MA, that could be supportive enough for bitcoin to start an uptrend (this blue MA supported Btc for long months, and used to be a light resistance for around 4 weeks)
If we see support around here at the fibo, or at the blue MA, good, Btc market is possibly strong.
If Blue fails, B wave confirmed, with Orange MA...
Lots of similarities in the structure and cycle type of pattern on the weekly chart, i found it interesting for study purposes.
Even Rsi is very similar as a possible confirmation.
Yes it could be the buy opportunity of the decade for Ether, but it is a very risky bet, stop loss needed or no hesitation to manually sell if plan fails, don't get attached to your...