XRPBTC is looking like it wants to start a major trend reversal soon. As you can see on the chart, it is currently bouncing off a major long-term uptrend line. Additionally, if you look at the XRPUSD pair, there was a recent golden cross of the 50 and 200 SMA, which we can take as further evidence of a trend reversal soon.Price targets are indicated with resistance trendlines as marked on the chart.
If we look at sentiment around altcoins, it is peak bearish which is what we want. If you look around, you'll see many people saying that altcoins are going to zero, altcoin season is called off, bitcoin dominance will return to 90%+, etc. We want to countertrade this as the public is usually wrong when it comes to these things.
Trade at your own risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.