After a fake breakout to the important 2.30 resistance, it should have continued moving to 2.50 if it was all true but sadly this is the move that XRP did instead.
Not guaranteed but if US has a confirmed recession, 2.14-2.18 support is the next move down target.
NFA and trade with cautions especially if with futures. God bless and good luck friends.
8 hours from now, my unverified #PI coins will be rebalanced! I'm already happy that I got 1244 ready by 2026 but I will be happier if at least 500 PI coins become verified for my upcoming birthday! I'm excited.
After #Bitcoin put himself in a 7-week discount just this morning pullback, it dragged #XRP to a sub $2 once again, the latter has now completed a very astonishing ABCDE wave correction (5 wave).
I'm afraid #Bitcoin will go down again towards the previous old all time high $69K after the $92-93K CME gap was satisfied. There's a huge inducement setup based on the weekly high rejection in line with the lowest low last week. Be Careful in buying the dead cat bounces! There are no real buyers and weakening nearby supports.
#XRP had an unfair price action to the downside last Monday printing a fresh weekly low just few cents above the $2 after at least 3 attempts to break the $2.60 resistance. Many buyers were upset or even mad because their orders were not filled below that lowest price yesterday. The way I assess the $2 now it becomes a very important psychological support level and I think at this point in time, a dollar plus XRP is not possible because the current price action tells me that buying pressures stepped in through people missing low prices yesterday that are chasing now including the short sellers slowly forcing to close their positions. Keep an eye on the $2.50-2.53 range because this is the void/gap that was not even given a chance before the price slide aggressively on Monday. Thanks!
#Bitcoin shorters SHOULD PAY CLOSE EYE on the possible 93000 level rebound! We are in the mid week now after so much 2-day selling spree. What do you think? Share your comments and follow for more unbiased crypto markets insights. Stay #SAFU everyone!
Monday’s crypto market wide sell-off has revisited Polkadot’s formidable 3.50 yearly support. Is this enough discounted price reset towards March 2024 highs already?
Read to find out: https://www.finlogix.com/analysis/20240807/polkadot-intraday-analysis-and-trading-plan-for-august-7-2024
Bitcoin Cash has just printed a new 2024 higher low in last Monday’s crypto market wide dump but is bound for a recovery for the remainder of the week.
Read full details at Finlogix: https://www.finlogix.com/analysis/20240807/bitcoin-cash-intraday-analysis-and-trading-plan-for-august-7-2024