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.
As another Manic Monday is coming once more, crypto markets decided to sell-off strongly in today's trading when it already did and seems bears want more.
One of the key factors that led the crypto sell-offs, of course led by Bitcoin itself, is this news down here:
It really proves that Proof-of-Work does not work in the long run. Sustainability is key! This is just my IMO (in my own point of view).
Let's proceed now to some of the key highlights that I mentioned in my video for today:
XRP hit as low as 1.16, 1.17, 1.18
Boss Jed sudden increase in XRP dump even buy volumes for today are low
More discussed here, watch in full:
On the technicals' department:
Bitcoin's surprising 20% move downwards. My speculation of 10% price correction was doubled instead! And Bitcoin's daily cloud was touched after 209 days since September 2020. Giving more rooms of panic towards traders and investors alike.
XRP's 4-hour chart mightily rebounded and key technicals suggesting rock bottom already.
A weekly close above 1.33-1.34 will still validate XRP's Pyschological $2 target.
XRP's last multi-year resistance regions 1.20-1.24 after pegging the crypto to be low has amazingly acting as good supports for today's sell-offs.
Indeed an epic day! Remember that crypto markets are the highest risk among world's asset classes and everyday is not Christmas in this kind of markets. A vicious and mean one!
Do not forget to read my disclaimer above. You may read it many times if you want.
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.
