DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.
A quiet weekend compared last week. Low to moderate volumes proving a consolidation period but sellers or the bears have slight advantage so far. But who knows bulls and bisons might do a sudden sprint from nowhere!
Remember this is crypto we are talking and been following for a long time now.
We had ups and downs yes, but that do not mean we stop in the middle of the run. No, not yet.
So today I made another quick video version of my technical analysis as always starting with the king Bitcoin, next is the total crypto market cap, and last but not the least, the XRP.
Watch it here:
Actually, majority of the alts are still in price correction after massive runs previously except for the joke meme DOGE coin which formed a bearish Head and Shoulders pattern when I looked at the hourly charts earlier.
So let's more forward.
Here are the key highlights for today's technical report:
Bitcoin the king entered 3rd day of consolidation period since achieving a new all-time-high. Hit a perfect $60,000 low in the last 3 days and strong price rebound.
Bitcoin dominance fell to 52%. The lower the better. A more explosive alt season anytime soon!
Crypto total market cap forming a long legged Doji candle but sellers might take the lead.
XRP lost the weekly support $1.71 including the hourly 50 and 100 SMA supports alike. Its 4-hour SMA now to the rescue! If this newfound support can't hold much longer, then we go back to the $1.33-1.34 and can pave much selling when it happens. Hope it will not occur!
XRPBTC chart looking strong again, creating higher lows in an ascending channel give much needed support although it is re-testing resistances once more.
That is all for today! I do hope you have learned something new again and I am glad that I have delivered my technical mission for the day.
Don't forget to please subscribe to my channel for daily XRP technical updates:
https://www.youtube.com/channel/UCFQWMCe8dPTIzQKULdxenyQ
Support my XRP dedicated blog here:
https://read.cash/@rafaelken1989
Also, follow me on twitter:
https://twitter.com/rafaelken1989
From time to time I give small giveaways! Be one of the lucky winners!
Thanks a lot for continued support!
God bless you all my fellow XRP loves. I will continue my work.
God speed.
