Bitcoin, Eth, Xrp: Are you bottoming buddies?
Hi traders,
You all know that cryptocurrencies are generally following the trend of their master, Bitcoin.
When Bitcoin goes up, not every cryptocurrency goes up. But when Bitcoin goes down, every cryptocurrency goes down.
Cryptocurrencies are Bitcoin, and Bitcoin IS cryptocurrency.
These 3 charts, are showing extremely beautiful bursting bubble patterns, believe me you will not see such brutal up/down parabolic charts that often in your life. Normally.
We can see that Bitcoin seems kind of not close to bottoming if we follow the standard Bubble chart phases, especially if you compare it to the Nasdaq Composite pattern.
But.
Paradoxically, Ether and Xrp, seems to be close to a potential bottom, which is surprising.
This means there have been some delay or different type of rallyes (Xrp only started to truely rallye, Btc and Eth rallyed in may, but Eth had a slightly longer bullish period of time than Btc, explaining its larger pattern).
They did not truely follow the exact moves of Bitcoin.
This is very interesting, because IF Bitcoin is not bottoming, this could mean that the possible bottom values of Ether and Xrp could be less dramatic than the Bitcoin possible bottom, as there is not a lot of room left to go down, unless these coins reach a value of 2016 or early 2017, which could be dramatic for some Hodlers.
Nota: The structure of these crashing patterns is so much parabolic from the rise to the down, that their value could reach extreme lows if bad Fud keeps on regulary appearing in the news.
Basically, their crashing structures allow their own value to possibly go extremely low.
I am especially concerned about Xrp, as its pattern is almost just 1 single giant head and shoulders harmony, which could mean it has enough structure power to put Xrp value... very close to zero.
We can also see that Xrp started its rally after Btc and Eth, and is already deeper in its crashing phase, as it already destroyed its own rallye trend line and is well below it.
Maybe Xrp is giving us a possible trend that Btc, Eth, and other major alt coins could follow.
It is just theory, but it is possible.
Good luck and may the force be with you.
You all know that cryptocurrencies are generally following the trend of their master, Bitcoin.
When Bitcoin goes up, not every cryptocurrency goes up. But when Bitcoin goes down, every cryptocurrency goes down.
Cryptocurrencies are Bitcoin, and Bitcoin IS cryptocurrency.
These 3 charts, are showing extremely beautiful bursting bubble patterns, believe me you will not see such brutal up/down parabolic charts that often in your life. Normally.
We can see that Bitcoin seems kind of not close to bottoming if we follow the standard Bubble chart phases, especially if you compare it to the Nasdaq Composite pattern.
But.
Paradoxically, Ether and Xrp, seems to be close to a potential bottom, which is surprising.
This means there have been some delay or different type of rallyes (Xrp only started to truely rallye, Btc and Eth rallyed in may, but Eth had a slightly longer bullish period of time than Btc, explaining its larger pattern).
They did not truely follow the exact moves of Bitcoin.
This is very interesting, because IF Bitcoin is not bottoming, this could mean that the possible bottom values of Ether and Xrp could be less dramatic than the Bitcoin possible bottom, as there is not a lot of room left to go down, unless these coins reach a value of 2016 or early 2017, which could be dramatic for some Hodlers.
Nota: The structure of these crashing patterns is so much parabolic from the rise to the down, that their value could reach extreme lows if bad Fud keeps on regulary appearing in the news.
Basically, their crashing structures allow their own value to possibly go extremely low.
I am especially concerned about Xrp, as its pattern is almost just 1 single giant head and shoulders harmony, which could mean it has enough structure power to put Xrp value... very close to zero.
We can also see that Xrp started its rally after Btc and Eth, and is already deeper in its crashing phase, as it already destroyed its own rallye trend line and is well below it.
Maybe Xrp is giving us a possible trend that Btc, Eth, and other major alt coins could follow.
It is just theory, but it is possible.
Good luck and may the force be with you.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.