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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
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