It still holds up. A massive move should be in for $XRP given the weekly timeframe. What price do you think we will see for #ripple in this bull market ? #AltcoinBoom!#altcoins❗️#binance
🔥Weekly timeframe. You implemented a hammer candle, which is a bullish sign. I'm not a big believer in candlestick analysis for cryptocurrencies but it should have been said as the week really ended well. Also, most importantly, we closed above 60,500 - 61,500, which is also a bullish sign. (see the first screenshot)
Also, pay attention to the second screenshot. When we were at 40K +- it seems it was already happening. Then the weekly candle also closed in a similar way and in general the situation resembled what is happening now. After that, we grew by almost 100%. History can repeat itself.
🔥Daily timeframe. I previously showed that we are holding well above the 100 moving, so we managed to retest it and trade above it again. The last time we tested it we grew almost 100%. Also pay attention to the daily MACD, we are finally in a bullish path and it shows us again that the bulls are gaining strength.
Basically what I'm looking at right now to be sure. The most important thing for me right now is not to go below 60K and to consolidate above 67,200 - 69,000 ( see screenshot 4 ) If we close this week above this mark, I will be 100% bullish.
At this point, there could still be a correction or even another leg lower. But I give this option no more than 10%.
Next week there are practically no significant events and data on the economy other than the standard ones that are published weekly. At the same time, earnings season continues in the US
#Bitcoin looks like it wants to make a V-shaped reversal after breaking down $57,000, plus the week may close quite well (we'll find out tomorrow)
The combination of these two factors is currently encouraging; there is a reasonable probability that the peak of the correction has passed.
The dollar index (DXY) is falling quite actively on the release of the US unemployment report, which turned out to be higher than expected.
Against this background, all markets are growing, incl. The crypto is also being restored. In any case, now #Bitcoin needs to be returned for $65,000 with a fix so that the correction can be considered completed.
Also pay attention to the weekly RSI. It practically touched its trend line, which acted as support several times. I like that we unloaded the RSI and the weekly timeframe and can continue to move higher.