We saw a very strong 18 percent drop a couple of days ago after hitting the major resistance at 0.67, even with all this crypto hype price actions are weaker than 4 months ago when we hit this area.
It only means one thing: Whales are on a selling spree and we are heading for new lows when the BTC multi-month correction begins (around 0.45 or lower )
It only means one thing: Whales are on a selling spree and we are heading for new lows when the BTC multi-month correction begins (around 0.45 or lower )
Note
A quick update, BTC currently is around 69k while XRP heading down to 0.6, it shows that XRP is in selloff mode, people are either converting them to BTC or getting out of their position completely, it usually happens before BTC big rallies or crashesNote
Ok now we have two more unsuccessful XRP pumps followed by sharp drops ,and BTC correction seems not finished yetChart also makes widening ascending wedge, if it loses 0.56 , we can see 0.45 area very soon
Note
The chart is playing out nicely, we just broke 200-day SMA, 0.45 coming soonTrade active
Chart never lies, now back to 0.45, We can even lose this area (not very probable) but it all depends on how the BTC selloff goes
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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.