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.
Happy Saturday and weekend all!
Tonight I discuss another technical report starting with Bitcoin, the total market cap, and the XRP.
Today's trading is a low volume in favor of selling momentum.
Bitcoin continued to trade in a bearish channels after deciding to completely move below the daily Ichimoku cloud. The BTC can plummet even lower as $39,000 mark near the 200 day SMA.
Even though the crypto leader keeps falling, it has lesser damage effects across the alts due to the fact that its dominance index rate is also diminishing daily! It has a probable chance of hitting back the January 2018 low of 35%.
XRP on the other hand remained in a strong supports near the 2 Fibonacci crucial regions from $1.30-$1.35 range. It needs to make a close above $1.44 for May 15, 2021 in order to change pace nearing the breaking point or point of decision.
In the cross-border settlement coin's long term approach, I am seeing a wave 5 once the PoD will be in buyers' favor where the top of the range is $3.60-$3.67 before a corrective phase again.
A failure or a breakout PoD can plunged XRP back below $1 sub-levels starting from $0.67 and lower. Anything can happen!
Watch my TA video in full details here:
Like I always said in my twitter and previous TA reports, it does not matter if we are wrong or right at least we keep on doing lots of try-hard TAs, creating speculations to make wiser trading and investing decisions in the crypto markets!
Always remember to read my disclaimer above again. This is definitely not a financial advice and do not take actions with everything I have discussed here.
I hope that you have enjoyed reading my article for today. I am confident that I have delivered today's technical missions.
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God bless you all my fellow XRP loves. I will continue my work.
God speed! Bon voyage...
