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.
Good Thursday everyone!
Another day, another chance to discuss technicals of the king Bitcoin, total market cap, and of course the XRP.
There are days of enormous gains and the same of losses. Every cryptocurrencies in this type of market space always come to a point of profit taking which is a normal thing. A part of the process of this never ending trading cycle. A due process indeed.
At times it is better to hold strong and wait for the storm to calm down. The bid volumes must be filled so that those people who are patiently waiting for the dips can get what they wanted, finally at least in the hopes of not missing the boat.
Once this price correction is through, then the buyers or buy volumes come back again.
Here are the key highlights in today's technical report:
Bitcoin is poised for a 10% price correction after achieving a new all-time-high.
Total crypto market cap reached a recent all-time-high and turning $2T trillion into a support which is no longer a psychological level after sometime.
XRP's daily candle close for yesterday formed Long Legged Doji candle shape.
To know more about candle shapes and formations, visit link below:
https://en.wikipedia.org/wiki/Candlestick_pattern
XRP's hourly 50-SMA acts as a support intraday on short-term basis.
So today's report will be focusing towards supports role as bears are ready to take over the crypto markets. As long as key crucial support levels hold down the line, minor corrections or drawbacks can be acceptable. During dips, even the nasty type of sell-offs, the supports role can be tested and very crucial as selling period lengthens over time.
Remember to read my disclaimer above again. Please!
Watch also my video version for full details:
HODL strong my XRP fellow loves! Our targets remain the same towards reclaiming the all-time-high! These pullbacks are not a reason for us to be upset. The shakenings and FUDs are done throughout the 4th year of being in a bear market. Remain calm and focused and see the overall big picture of what's ahead.
Thank you so much for staying until the end of my article.
Wishing you another wonderful day and God bless.
See you again in tomorrow's report.
