BTC GOING TO DO CONTRARY TO EVERYONE THINK; CRYPTO MARKET BOTTOMING? RIPPLE XRP NEWS; XRP NEWS TODAY
And if you look at the history, you understand that stuff. But the question is: are we near a bottom? Did we put in a bottom? So if you look at the charts it gives you some clues like look at the rsi, then look at the price structure, so that kind of gives you a easy idea where we are right now, but it also shows you the potential for this market reaching a Bottom now look at snp its inside this pattern. Now, if we break to the downside, thats bad, but if not, we are going to bounce thats. The structure which you can observe there when dollar is making this cup and handle on a macro and thats breaking to the upside, so that doesnt actually feel good. For a lot of other currencies, including iron, not cad and others, but if your country does not actually have a lot of gold, this is going to hurt you differently. This netflix stock, its dropping this one is actually tesla and you still have room to the downside. So now why you go through this one by one were going to discuss through this. This is the dollar and going up up up. As we talked before, we are going to break higher. Why were going to have the rate hikes, and i was looking for, like you know, 50, and now we have like 75, so the rate hikes are now really aggressive and its going that way, but some of the areas are like okay, its actually a bit more.
Like a bull flag and if we have noticed it correctly then well have a possibility. Wait looks like this. Okay, you may break to the side short term, but youre going to come back down because that pattern itself is bearish. Now, if you look at the opposite market, see here, cad instead of rupees start showing something really bad for the canadian market. So if youre in canada, there is going to be hardships, but if you are prepared for this meaning you are in dollar or you are in a hedge. That may not be that bad, but right now the question is whats crypto market doing right. What do you really feel and i personally think we are putting in the bottom? We are done this correction now. Why do i actually think like that? Because you know, if you look at this after you went above this yeah, you went up. Thats fine, but you came lower, did a abc type of connection. They now same stuff. You are doing it again. You go up you correct, and then you go up slowly. Coming back down putting this abc structure in so, if youre observing just the connection, you actually had this pattern play out. That is actually good yeah. Then again, you are doing the same now in terms of percentage. Now we can use both the moving averages 58 200 day, while we are going with the 200 day moving average right now on this one, when the 50 crosses the 200 to the downside, which we call the death cross, the price has already reached the bottom.
You can see that youre crossing that and youre at the bottom, so you didnt actually go lower from there, like the majority actually suggest you now, if its in a short term chart. Yes, it does. But here you can see like okay, if thats a bull market youre not going lower fine. Now you look at this. You had another death cross here, but the price didnt go lower from there. It started moving back up right. It even made a higher high. So its not a bey market. Yet, for me now, look at this the first one from the 200 day moving average to the bottom here, its 32 percentage. Now we come here in the next one, again, thats the same 32 percentage. Now, after that relief rally, you come back down to retest that and at that point, its like 34 percentage, thats 34.353 here and this time its uh 34., now its somewhere close. But you get the idea here you go back up. You come back to retest that and most likely youre gon na make the same percentage now with respect to 200 day moving average thats the case. Now, if you zoom out on a weekly, you get more news right, youre, actually looking at the indicators, the price, the support zone and the price structure, and then you understand: okay, thats, a good thing now, yeah the price dropped, but right now at this particular sense. I know its hard.
If you look at this particular candle, we are going down heavily its, not a wick when im coming out and saying this right right now you go look at the market and youre like okay, thats, actually fine, because when you look at the price you are getting. This, why of like okay price is wicking to the downside. Right price went lower towards 30 500, but buyers came back in buying and its pushing the price up. But when i was posting this, that was not the case. We were at that bottom, but personally i felt like the selling volume. Yes, if you go look at coin paprika, you will be surprised like. I was surprised when i woke up to this one. Looking at one billion in buy and five billion in sale and im like, ah that something i really dont understand, where is this coming from, because the same goes for ether but thats, not the case for b and b thats, not the case for xrp buyers are Still there weighing about the sellers, so you actually get a point where people are trying to move out. One and people are trying to move in on the other side, so thats utility and thats going to play out well now, when you come on to this one to look at this, you need to actually look at all the different steps from the bitcoin dominance to The bitcoin chart of these assets, because this is gon na play out much differently when dollar is going up.
Now, if you look at this dollar pattern, we have the exact same pattern in some cryptos now, theres a lot of them. Now we have 20 000 crypto coins right within that 20 000 crypto coins. You have at least 10 20 of them, making this particular pattern, which is similar to that of dollar, which happened to you now yeah. It did wait to the downside, creating that panic in the market, but it broke to the upside and its going to the upside. So if youre looking at this thats an xlm chart – and this is an xrp chart now – we do have others – which kind of you know goes like excellent chart. We have a lot of them and weve been covering those in our monthly digest. Right weve been covering that on the patreon so that you guys actually know okay, one of the assets which are preparing for the next big run now yeah scary days in crypto. I know that, but youre here right so here for the truth, to welcome to the scientific investor family, where we discuss crypto and science behind investing regularly. Now, when you get these kind of articles at a psychological level like this, its really important to see whats happening day now, you had made this as a support and right now youre respecting the price. Look at the rsi first time when you visit the day, it was like a 50 percentage drop. Then there was a relief rally and again a 30 percentage drop back down fine.
Now this is not with the 200 day moving average. This is the indicators. Now you look at next time when you come back down after putting in a new high, you actually come lower touch the same structure, support trend line and bounce, but thats also around 50 percentage drop. Then you get a relief rally, but you come back lower to the exact same area. So if we are to expect and extrapolate this for the future yeah like okay learning from the recent past and the actual price history, i think this is going to be a support. So your indicators suggest that youre close to a support or youre on one and most likely youre going to bounce. That was the main reason why i was saying this, because we had previous post from yesterday day before yesterday saying we do have room to the downside. Here in the rsi, so we may drop more from that 34 mark and yes, we came to 35, i mean we came to 3 500, so thats a drop, but we reached the price level which we actually wanted to because if youre zoomed in youre looking at A daily youre seeing this that the price is dropping, dropping dropping now we do understand that, but you go on say, for example, youre going to look at xrp or btc and youre still there at the bottom youre just consolidating in the macro structure. Youre not doing much youre still there without doing much, but in the market.
If you come and look at the structure right now, this is a stable coin right terra then ust is actually dropping. Weve been observing this and i was like okay, we just saw a tweet wait. Well, you know. Okay, this is fine. People are buying that, but i also happen to see a tweet way. Bitcoin is already 35 000, but its against ust. So if you want to sell your bitcoin for a higher price, you do have one, because that one is slowing down or collapsing now thats this one from dan crypto trade. So if you actually look at this okay, fine, this one is happening only because of that particular coin is having issues. So if you look at that, theyve been buying a lot of bitcoin now to support this, to build the research for usd to pick it back. They need the money to come in back and thats, one of the reason why its actually dropping – and they are trying to put this and thats way, this amount of sell for bitcoin for ether comes into play. Now. Imagine institutions are they out there saying we are going to five billion worth of bitcoin at thirty thousand dollars. You guys come in and buy this. Will you buy that at least you know uh? I wont because if your average is five thousand six thousand and youre just riding this waiting this, you dont really want to buy it. Where i say like elsa do they came in at 40, 45.
50. 60. They were buying heavily during that time, as the price was going up right, so they have to buy an average down. They dont have any other options. So for you and me who have been here for a long time, weve in this market, we have seen these drops. Yeah, like okay, fine, unless its below my average are okay, but if the pattern actually suggests you that this is going to happen and youre going to rally to the upside, because now this is important to understand, because here in the usd you literally have it just Like 66 percentage to the side – and you actually get these drops like 20 percentage 10 percentage. But when you come to grip 2 thats, not 66 percentage thats like 25 30 x as a measured move. So the drop will also be like that 50. 60 percentage 70 percentage drops and thats how the market actually works. So, if you cant actually digest these drops its really going to be hard for you to actually look at where the market is going to go now, just look at the altcoin market as a whole. On a weekly, so you are just looking at the all coin market and you are like okay, we are breaking to the downside right. We had a lot of upside, but right now we are actually breaking to the downside, so that doesnt actually look pretty. On that view, but you just take a line, a curve and just see whats happening here.
You will feel like. Okay, that is a rounded top being formed in the price, now delete all of this and keep the same idea in your mind, which is the round top feeling like okay, we are going to go to the downside again ill, just put that curve there. So you dont actually miss when we are discussing this with the historical price reaction, so this is around the top we are talking about and then you come lower here. The first time you get this now weve been waiting for this from a long time. If you go back, look at the march 2020, 2021 videos late february, early march. We were discussing about this because we reached this territory. Thinking: okay, we are going to go into a consolidation thats a possibility now thats a possibility. But now we dont know where the bottom is actually going to be, but we know that the history repeats and rhymes and if that happens, we have wave 2. now before every waves. You get these massive corrections. Now we kind of say that okay, its clearing the market weekends, are moving out and a lot of other stuff. But one thing is for sure: when you look at it, you do understand that the market actually corrects heavily and you dont actually take out the previous support. So now thats the first step you are going to have to see whether we are going to hold on to the previous support.
So for us, the previous support is here thats a huge way and you are literally putting up a higher low here, so most likely youre gon na hold it till this point now thats a long week then under itself, but inside this crypto market understand there are Coins which are like you know, 20 000 coins, so you are gon na literally observe ton of coins. Doing these 30 percentage drops right, then you go into small cap. Medium cap and youre gon na see a lot of pain. They 20 30 40 percentage down and they are going continuously to the downside. The volume is reducing. So if you look at this one, its like four thousand dollars in buy eleven thousand dollars in sales, so that doesnt actually make much of a sense to go into that asset without liquidity, because even if a dumb, you know pumps from the 200 percentage, you may Not be able to take your money out so thats why liquidity actually matters so when you enter into these assets and with this idea and time now without time, you may not be able to survive in this market. But if you have time look at this, where are we because in the all con bitcoin i agree? We are close to the support in the rsi, whereas the altcoins, we still have a bit more room now its a little bit but thats still a little bit more room to the downside to reach that support, so in all coins.
Even if bitcoin is making a base and slowly moving up, we may first see calculations. We are going to get those kind of stuff say. For example, xrp is already breaking through its macro pattern, showing okay im encapsulating, but if you put in your moving average its bouncing or i expect it to bounce from the 200 day, moving average, which is here at 0.49, weve discussed about this in the last video Saying there is a possibility, we may lower come down touch that 0.49.5 range and then slowly bounce back higher. Now that is going to happen and if you really need these kind of updates for your portfolio within the macro structure, the geopolitical scenario whats happening here and then the crypto asset, the other markets. You can look at the patreon. The link is given in the description below and your portfolio. You get complete idea about the price structure and what you can expect so guys if you received value for your time, please do hit that like and subscribe button that supports the channel a lot ill meet.