📍 $XRP UPDATE The level where I placed my buy orders is $2.4 - $2.5. This is an ultimate support for Ripple, not the local $2.8 I previously shared. If my orders got filled — great, this will be a strong position. If not — I will be okey still, have enough XRP in my long-term spot bag. That’s the plan.
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🦋 Finally some strength on Ethereum! If we close the above $4250 resistance on high TFs (at least 12H), the new highs are on the way!
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🦋 ETH UPDATE My mood on Ethereum is bullish, I hold a LONG position, still not a big one, ready to average if we dive lower to $4100. As long as $ETH is staying above the $4000 - $4100 support, the up-trend remains valid. Ethereum is strong and even in case of Bitcoin dump, I don't think it will lose key support levels.
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📍TOTAL 3 UPDATE (Market Cap Excluding BTC & ETH) Altcoins also want some correction, not big though. There was formed a Head & Shoulders pattern, currently chart broke through the neckline. There is an ultimate support of $1T that must help Altcoins staying strong. You can place bids on your favorite altcoins 3% - 5% lower current price just in case of shadow below.
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🐝 BTC & MARKET UPDATE The massive correction happened. Why? Because of the PPI data rose to 3.3% — higher than expected. Typically, this news would not trigger such a massive sell-off. However, people had grown accustomed to the bullish market and opened a ton of LONG positions with high leverage. As the result, a massive cascade of liquidations occured and drove the dump crazy. I was expecting a correction to happen much earlier, it saved my ass. ❗️TALKING ABOUT FURTHER POSSIBILITIES: The next few days will determine the future of this bull cycle (at least for the next 1-2 months). Bitcoin is now back inside the $116,500 - $119,500 consolidation range. If we see some strong positive movements on Altcoins & Bitcoin this week, it will show that the real demand (whales & funds) are interested in pushing the price higher. However, if Altcoins & Bitcoin are weak, then most likely the TOP of this cycle was marked at $124,000.
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