XRP and BTC MARKET UPDATE - 28TH OCTOBER, 2024
Added 2024-10-28 14:26:53 +0000 UTCHello my friends,
Bitcoin is at a very important level.
The last three times BTC tapped the diagonal resistance (green line) it always broke down in 2-5 days. But of course now it has to be undecided for 2 weeks. Today is the 14TH day.
Please look at chart 1. It’s very straightforward. As I keep reiterating we need a close above $71,000 BTC to confirm a bullish reversal and then it needs to stay above $58,000 to form a higher low.
If that happens, the bull market continues and eventually before the cycle ends, some of our alts pump well and make us good money.
If BTC fails to do that, we will likely see a correction to roughly $58,000 (diagonal white line). If it holds and bounces that’s a higher low and uptrend is maintained.
If it doesn’t, we’ll likely see the price tag the white and yellow suppers at the bottom of the chart.
Now, please look at chart 2. If the latter of the two scenarios plays out, alts will fall harder than BTC and our first entry for XRP will get hit. That’s our first swing trade entry.
If Bitcoin breaks into new highs and rallies instead, then it’ll go to $0.60-$0.65, where taking some profit is optimal. As market keeps rallying, we keep laddering out with profits.
We have hedged in order to prepare for both scenarios, but of course we want to see bullish continuation for alts like DOGE and others to wake up. It’s nice to see it at nearly $0.15 at the moment.
October has been bullish so far, which is a good sign. Let’s hope the next two months leading into 2025 will be bullish too.
Either way, up we sell. Down we buy. We wait. Let’s what BTC does.
🤜🏻💚🤛🏻
Comments
It’ll depend on percentage increase and sentiment. So far 100-300. But it can change depending on the factors mentioned.💚
Rob Art
2024-11-12 20:01:24 +0000 UTC🤜🏻💚🤛🏻
Rob Art
2024-11-12 20:00:37 +0000 UTCWe’ve been positioned for years, if we get good entries, we will use the opportunity💚
Rob Art
2024-11-12 20:00:19 +0000 UTCYup, it’s coming)
Rob Art
2024-11-12 19:59:49 +0000 UTCHave you an update for XRP. Greetings
Eros rinaldo Aventaggiato
2024-11-12 09:27:39 +0000 UTCAre we supposed to be positions now or is there more entries expected
Ebed Melech
2024-11-10 03:55:25 +0000 UTCAre we talking about daily Close Rob?
Adrian Furlong
2024-10-29 16:19:24 +0000 UTCThoughts on $quil? Can we get anymore gems mate thanks
Ebed Melech
2024-10-29 15:21:08 +0000 UTCYes would be good to get an update regarding how long is left and how this cycle is going - is it majorly different
PJK
2024-10-29 10:02:16 +0000 UTCRob, when xrp jumped to 0.95 cents (news at that time: xrp not a security) you told us to wait…what changed your mind now to start selling at 0.60-0.65 cents? Greetings
Adrian Mislimi
2024-10-28 18:43:43 +0000 UTCThank you King 👑 v much appreciate the update
ArcaneWealth
2024-10-28 14:48:53 +0000 UTCThanks Rob, how many more days to you see on your charts till estimated end of the bull run? I know you said we are 3/4 through the cycle, just wondering when would be a total cut of time ?
Martin lithgo
2024-10-28 14:45:10 +0000 UTC
