Doge is squeezeing super hard on most timeframes, especially the weekly and daily which can lead to explosive moves.
Since there's not much more to go down, and since it's coasting through the downtrend line, the only place to go is up really
We're currently seeing a falling wedge developing on Bitcoin with increasing upside volume, that isn't to say we won't drop down to my buy zone at $3,200-$1,900 first but we're finally seeing a pattern that could foreshadow some life returning to cryptocurrency
The whales are just drawing patterns, TA has little to do with it.
They're making an inverse Head and Shoulders, into an uptrend for the other shoulder in the bigger IHS. When we get near the trend line or hit it, they'll dump it and then come back up to complete it.
This breakout will confirm the IHS, and cup and handle into a final trend reversal upward....
This trend shows Bitcoin during healthy growth, and what happens when the growth is unhealthy and parabolic. The whales have periodically gotten out of the market in waves during uptrends, because they realize that this growth can't be sustained. Stoch RSI has been unsustainable for days now.
I expect a giant crash back to the channel
I am seeing nothing to suggest that Bitcoin has changed into an uptrend.
Volume is still falling on upward moves.
Stoch RSI has been overstressed and is pulling price downward.
VWAP is below price.
POC is around 5800.
1W MACD still downward.
This move is thin and overextended.
I would expect to see a fall to a lower position and a triangle wave to indicate...
BTC is still trading in the channel. While it may look bullish on the day graph, it's going to retrace to $8,800 or the MA(200) around $7,200. Volume is decreasing and it looks unlikely to break out of the channel or the fib at $11,600
XRP will continue to fall to its 786 fib, where it also shares support with the MA(100) @ $0.70. Near Jan 21st, XRP will enter a TTM squeeze and break positive out of the channel upward out of the downward channel by the 23rd. It may bounce off of $1.00 and out but I would find this highly unusual and overall detrimental to the stability of the coin.