See the youtube video from last night for clear detailed analysis on what is currently playing out. We hit a double top and broke the higher low pattern, leading to a dump and a consolidation day on the daily chart. We are looking for a higher low on the daily and it will be marked by the hourly forming higher lows and higher highs again. This correlation can hurt ETH but the bounces are much stronger as the bulls are choosing the name closer to blue sky breakout. If BTC forms a higher low on the daily and bulls begin to bounce, we will see a bullish MACD cross on the daily and an attempt to change the daily trend back to the bulls. Patient as this occurring on the daily would give a comfortable swing entry for the momentum shift. For now attention is still on ETH and XRP as the gains are not being matched elsewhere.
Will XRP keep rising? Is it ok to enter XRP or just leave it if I'm currently in BTC?
cryptomizer
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@juzme09, Just Hold. Soon XRP/ETH will joint its journey - correction. Now, where do u think all the money will flow)?
Beeron
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@cryptomizer, I agree with this. I actually just got out of XRP and went back into Bitcoin. As I've continued my trading journey and analysis, I've learned that I tended to stay in trades way too long using logic like that guy - riding stuff all the way up and then all the way back down. Finally just got disciplined enough to not worry about timing the top perfectly and it seems to be paying off. This discipline is definitely in part thanks to people like TheChartGuys.