Hi everyone welcome back to the channel today I’m going to start a new series where I’m gonna be covering crypto market analysis news and how it is gonna affect your day-to-day training.
Now I’m going to focus mostly on bitcoin Ethereum and XRP now before I’m going to go on and review the price range, I’m going to first look what are the news that might affect your next few hours the next week trading partners so let’s dig in.
Now the first news that you should probably be aware is that Ethereum 2.0 has been confirmed so from the first of December that’s when it’s supposed to go live now for the past few weeks we’ve seen a crazy rally on Ethereum prices because of the proof of stake is supposed to go live on the 1st of December so guys from my experience also from previous events most likely we are going to see some correction prior to the first of December.
So if you’re trading based on this news please take that into consideration now another thing that we can actually notice from the past week is that we’re seeing a crazy momentum we’re seeing a lot of platforms all crashing down.
The other day we haveCoinbase had a crash and the crash basically pushes the price of XRP to 90 cents now I have worked in one of those platforms.
I am not allowed to discuss this in details about the platform but I know how difficult it is and how frustrating it can be that maybe you’re planning to close the position at90 cent or 85 cents so please always take into consideration the more momentum the more volume the more likely they’re gonna be some crashes on those platforms. So please it might be better for you guys to set the take profit and stop loss for that specific reason now.
I’m going to digging straight to price analysis. So we’re looking now at Ethereum so I have set the chart for 15-minute chart this is perfect for those that are doing day trading especially with leverage so I have set the support level around 550 and the resistance level is 623.
Now the reason why this is the resist level because this is a new territory that we haven’t seen in over a few years now for those that are now looking to enter obviously you’re not looking to enter in a very high price or
It might be as some people say overbought now if you want to still have some action on this market and I will suggest maybe to look at allocating five percent or maybe maximum 10 of your total position and then looking at strategically placing.
Your position between I will say 580 which it probably will be trying to test again so probably look at placing 585 to 605. Now saying that there might be a flash crash we might even push further to finance 550.
So please take that into consideration and there is a risk of having a flash crash or your platform not be able to sustain all those in-flow requests and everyone logging in so try your best if you are a first-time crypto trader to look at realistically putting your position, not at all-time high and look at put placing it around or above the support level right now let’s look at XRP.
Now XRP has been moving quite a lot everyone was talking about the 50 cent and he surpassed it yesterday now once again I have set the time frame for 15 minutes this is perfect for day traders and now we can see that he actually touched over 76 cents XRP right now we’re seeing some big selloff from 76 cents to 62.
Now if you can see here and this is literally a 30 correction now for it to be sustainable this bull runs for up we need to retouch once again anything between0.5 cents to 0.55 so if our you guys are probably looking at placing an order between 0.52 to 0.60.
Now yet again this is just a speculation and if you still want to take action you feel that this is it might go up to the moon and then obviously you can put maybe a small percentage of your position right now just to make sure you’re not missing out of the action now please bear in mind with those leverage.
Now once again if you had a position here at0.76 and you had leverage 50 or 80 you obviously were stop-out and you lost all your money so please take into consideration start get yourself more with the leverage and with the risk appetite and maybe also set some take profit.
Now, my big friend, we’re talking about bitcoin, bitcoin now has been testing for the past few days this range of 18760 which it has just surpassed a few minutes ago now if you are looking to trade it probably right now might not be the best time to enter now. So if you’re looking to enter with a very big position or probably placing some trades with leverage position anything between 18200 to18600 this would be the range where you probably should be aiming to put your future trade-in case it’s gonna be any flash crash or any big drop or big selloff.
In regards to bitcoin, this is my few points in regards for your training in crypto if you have any comments feel free to drop them below and subscribe I’ll be trying to give for the next few days this momentum this trading pattern for you guys now if you’re looking to do more longterm so I’m gonna basically changing it.
For bitcoin let’s change it now to a week so the goal is to try to see when was the last time bitcoin reached this level so right now we’re seeing that it’s about to surpass so it seems the all-time high which was in some platform 19700 and in Coinbase over 20 000.
So this is something new we’re entering a new territory most likely we might see some resistance around 19600-19800 so if you’ve been holding this position from 18500 you might wanna take some profit toward the 19700 because most likely there is some correction now.
We also going to do the same thing with XRP so it’s been quite some time since we saw this lovely prices so I put a one week chart so whenever I’m looking at one week chart so we can see here that we’re actually touching 0.76 was actually a resistance level, okay so I was you guys and you think that this will be reaching over one dollar so probably placing for the next few hours and some orders anything below 0.76 will make sense.