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BTC descending triangle and targetsHope I saved you 10-15% yesterday by warning about upcoming dump. Since classical TA worked out well so far (1st warning was given on 9th of September), I'll add another quote from John Murphy (I personally consider this book a TA bible): "The measuring technique is the height of the triangle (AB) projected down from the breakout at point C". Take height of triangle ~4500 and subtract it from 9300 = 4800$. That is our target. Time distance can be measured by drawing a parallel channel from triangle. So we have 25th October as target date. Lets see if this forecast comes true.
COINBASE:BTCUSDShort
by WiseAnalyze
BTC finally dumped, but bounce expectedAs forecasted, price found first support at ~9600. Got some volume back, but at day chart it is still decreasing. That was the first stage, that leaves both bearish and bullish scenarios open. Surely the picture is bearish and going long seems to be too risky now. Dominance grown near 70.8 resistance, so we may expect it to pull back a little, letting alts breath out and recover small % from yesterday dump. In current situation I do not recommend alts over trading. Just close the position you had and look for dip buys for future ones. Whatever will be the direction, alts will dip again. If I was whale, I would push price up to collect liquidity in bull trap around 9850 - 10000 range, the higher, the more retailers will jump in there. That would be a perfect spot to dump it lower.
BITMEX:BTCUSD.P
by WiseAnalyze
XRP chart reviewMost obvious scenario came true and XRP fell down to 0.27 support and bounced twice. Bearish momentum is slowing down, although it may test same support again. Scalp to 0.28 resistance is possible now. Thats ~2% multiplied by up to 25x leverage at ByBit. Last telegram post: XRP slowly falling forming a descending triangle with lower highs at each step. If broke down, support levels for bounce are at ~0.28-0.283 and ~0.27. If breakout, nearest resistance at 0.297 and 0.302.
BYBIT:XRPUSD.P
by WiseAnalyze
5
Daily Bitcoin chart reviewFirst small entry into long position opened at 10100, but can't yet consider it to be long term, as still not enough volume for the bounce. If bulls won't show themselves, we may see next dump from 10250-10300, ad towards next support zones at 9900-9770-9600 (last one is the strongest). Wide green support zone from 9050 to 9300 represents the last support for price to stay within grand triangle. As for BTC dominance, as expected, it is going down to ~71.5 support. Yesterday telegram post: I'd rather go long in current market situation, the only question is which entry would be the best - and 10.1k seem to be the optimal price. Fear & Greed index: 41 (<= 43 <= 39 <= 43 <= 41) BTC Dominance: 69.8% (<= 70.2 <= 70.9 <= 71.1) Market Cap: $261.619 billion (<= 269.049 <= 263.399) 24h Vol: $51.012 billion (<= 53.729 <= 58.472 <= 49.382)
BITMEX:BTCUSD.P
by WiseAnalyze
Last support levels for XRPRipple must be the most popular coin for people, who sell their cars and houses, or take credit, to buy bags of this shitcoin, as they believe this coin should be growing. The truth is that XRP had too much advertising/marketing, while doesn't really posses any value for future - constant downtrend it has been into for the last two years just proves it. Nevertheless now price approach last support levels formed back in 2017 and this will be the final zone before this project fall into pieces. Or pump, if support works. So do you believe in Ripple enough to give it a chance? If you do, watch out for these price levels - 2400 - 2250 - 2000. If XRP bounce, nearest target will be 2700 and after 3300.
by WiseAnalyze