erict99

erict99

Support from previous post broke. If this new support breaks, situation may become bearish

erict99

Recent Coinbase listing, low market cap. Consolidating after rally due to listing, potential setup for next leg up.

erict99

Please, break to upside

erict99

Please

erict99 Updated 

This is what I foresee in BTC/USD in terms of long-term market cycle trends between now, the next halving (currently projected to be on May 27, 2020), and the halving after that (currently projected to be between March 2024 and June 2024). The dotted lines mark past halving dates as well as the projected 2020 and 2024 halving dates. Bitcoin market cycles have...

erict99

Need further confirmation and volume to support this break out of the wedge/pennant that has been forming over the past week or so.

erict99

OXT Pennant

erict99

Blue - CGC Red - TLRY Green - ACB

erict99

Blue - CGC Red - TLRY Green - ACB

erict99 Updated 

Harmony One is just getting started. With heavy support from Binance (the Binance stablecoin was launched on Harmony) and a relatively low market cap, a parabolic move is possible, contingent on a continued uptrend in Bitcoin and subsequent follow through from the Alts. With price action consolidating (slightly to the downside) over the past few days and volume...

erict99

Assuming that Bitcoin continues to move parabolically, I believe that XRP will begin to make very violent moves to the upside before the end of 2019, contrary to what many XRP bulls believe. If Bitcoin can revisit previous all-time highs, I believe that market conditions will begin to mirror that of December 2017, when speculative value began to move from the...

erict99 Updated 

Since the recent uptrend of BTCUSD began in early April, the market capitalizations of Bitcoin (marked in orange) and altcoins (marked in blue) have been diverging. This implies that while the rest of the cryptocurrency market has also trended upwards along with Bitcoin, these moves are relatively muted in comparison to Bitcoin. The last time such a divergence...

erict99 Updated 

Given the recent bullish price action in BTCUSD, XRPUSD has been able to break out of its descending channel formation. Before trading within the descending channel, XRPUSD also traded within a descending triangle formation between May 14 and May 27. After breaking out of the triangle, XRPUSD spiked from a low of 0.37 to a high of 0.48 before the descending...

erict99

Since I published my last idea related to the divergence between BTC and altcoins (linked below), the divergence has only grown larger. Bitcoin has continued to move parabolically (above the 10,000 USD level), while most major altcoins remain flat or moved to the upside at a much less convincing rate. This level of divergence has not been seen since the 2017...

erict99

Bitcoin continues to dominate and lead the cryptocurrency markets. Thus, with the recent correction in Bitcoin (from briefly touching 14,000 to the low 12,000 range), the entire market followed suit. With this, no amount of analysis on XRPUSD (or any major altcoin) can be effective without considering Bitcoin. That being said, this analysis will look strictly at...

erict99

Since my last post regarding the short term Fibonacci Retracement levels of XRPUSD (linked below), XRP has broken through the .5 and .618 Fib levels. A test of the .786 level also took place, however at the time of writing (early June 18), XRP has been trading bbetween the .786 and .618 levels. A test of the previous highs of the 0.48 USD range (last tested on...

erict99 Updated 

As anticipated in my previous idea (linked below), XRP is now testing the upper bound of the descending channel formation that it has been trading within for around the past 2 weeks. This is a make-or-break moment for XRP, as much volatility is to come. If XRPUSD can break the descending channel and maintain price action above this channel, there is much...

erict99 Updated 

TRX/USD has been trading above the low-0.02 range ever since early to mid May. Since then, an ascending broadening wedge has formed, and new highs in the 0.03 and low 0.04 range have been seen. We have since corrected downwards from those highs. I believe that another confirmation of support at the lower bound of the wedge is needed soon for the sake of pattern...