I did a top down analysis for XRPUSD from Daily time frame to the 4HR time frame to give you a couple of things to take into consideration before making a trading decision.
As you know Crypto has been a bit unpredictable & News & Conferences no longer have a effect on price. I feel as if everyone in the space has become more neutral than anything, 50% are bullish 50% are bearish. I think everyone's hopes and dreams of BTC & Altcoins making a run to ATH's like it did in late 2017 are crushed!
However I myself am still bullish, simply because stocks are hot right now you see the US30 making ATH's & thats when the smart money sells and the dumb money gets wrecked. We are due for a pullback in the stock market, We already had our pullback in the crypto space, so where will smart money put their money in once the US30 crashes? Exactly.
Color coded every key level of mine, & made down channel a bit more clear in case further downside continues.
Thank you if you took the time to read this! Means a lot, Smash that like button.
As you know Crypto has been a bit unpredictable & News & Conferences no longer have a effect on price. I feel as if everyone in the space has become more neutral than anything, 50% are bullish 50% are bearish. I think everyone's hopes and dreams of BTC & Altcoins making a run to ATH's like it did in late 2017 are crushed!
However I myself am still bullish, simply because stocks are hot right now you see the US30 making ATH's & thats when the smart money sells and the dumb money gets wrecked. We are due for a pullback in the stock market, We already had our pullback in the crypto space, so where will smart money put their money in once the US30 crashes? Exactly.
Color coded every key level of mine, & made down channel a bit more clear in case further downside continues.
Thank you if you took the time to read this! Means a lot, Smash that like button.