The main cryptos have been getting beat up quite recently. However, all markets have structure. There are only 3 ways markets move: uptrend, range, donwtrend. That's it.
The crypto charts have had a prolonged downtrend with multiple swings. We are seeing signs of reversal, in fact Ethereum and Bitcoin show breaks of reversal patterns already.
Ripple is showing an signs of downtrend exhaustion. We are not making any new lower highs. However, there is a flip zone marked at 0.23500 that one should watch for a break. Ideally hitting that zone, pulling back a bit to form a head and shoulders pattern before breaking out.
Perhaps Ripple is lagging and will follow Bitcoin and Ethereum:
Bitcoin had a prolonged downtrend and we got a reversal pattern (head and shoulders) breaking above a major flip zone and we already have our first higher low in a new uptrend.
Ethereum just got the break and close recently above a flip zone and confirmed a head and shoulders reversal pattern. We also have our first higher low and the entry is still valid.
The crypto charts have had a prolonged downtrend with multiple swings. We are seeing signs of reversal, in fact Ethereum and Bitcoin show breaks of reversal patterns already.
Ripple is showing an signs of downtrend exhaustion. We are not making any new lower highs. However, there is a flip zone marked at 0.23500 that one should watch for a break. Ideally hitting that zone, pulling back a bit to form a head and shoulders pattern before breaking out.
Perhaps Ripple is lagging and will follow Bitcoin and Ethereum:
Bitcoin had a prolonged downtrend and we got a reversal pattern (head and shoulders) breaking above a major flip zone and we already have our first higher low in a new uptrend.
Ethereum just got the break and close recently above a flip zone and confirmed a head and shoulders reversal pattern. We also have our first higher low and the entry is still valid.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.