Sirwin
Sirwin

WHAT ARE THE CRYPTO MARKETS LIKELY TO DO NEXT WEEK

By derbycuzxrp | CRYPTO Talk XRP | 26 Nov 2022


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WHAT THE FUD IS UP

So the struggle of last week is over thank fudge. We saw the crypto market dropping to new lows as skepticism was met with a new sense of optimism . For a short while it looked like BTC was going to drop below $12000 but the utility seems to be trongly supported at around the $16000 to $15000 ranges.  On a more broader look at the markets we see Eth dropping around 109% from 2022/11/14 to 2022/11/22 . It has been for told that the Ether token would break the $5000 mark when the merge is finally complete.  Well it's been a bit and the utility is drowning with a price range of $800 looking very possible.  

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FTX DELEMA 

FTX was one of the world's bigger crypto exchange platforms. The founder of FTX has finished the week resigning as ceo . The man behind FTX was seen as one of the biggest influences or he was regarded as such . He was seen as one of the most intelligent players in the crypto market. Following the bankruptcy of FTX  around $100 billion dollars has been lost as crypto markets tumbled to new lows.  BTC hit a 103 week low and many HODLRS sold their BTC as about 60000BTC left exchanges.  A week from hell has finally brought the crypto market deep into a crypto winter. With BTC loosing all the strength build-up during the summer. Now to make this more of a issue is all the rumours and fake news making the rounds making users scared and cautious about buying and trading with exchanges. The worst is most fake news is paid for by big investment companies who are all pilling up their crypto portfolio. 

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BTC WON'T DROP TO $12K

So if we look at the graph of Bitcoin the last 3 weeks we see that it was dropping for the last 2 weeks this weeks drop has put more pressure on the long traders . But there seems to be a light coming at the end of this long dark tunnel. 

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WHY BITCOIN IS LOOKING GOOD

Well btc has found strong support at the $16k range and seems unlikely to drop below $12K. Ontop of this BTC has showed a tripple bottom the same as last year witch could mean a break out after support rejection . Then there is a positive futures funding rate for some exchanges.  This shows a advantage for the long term traders with positive trading fees being a result of long traders willing to pay trading funding for sort trades. This support of BTC is at $15800 so opening a long trade at $15900 is a good idea with a stop loss set at $15400 and a take profit at $16800 or even at $17450 would bea wise trade . 

This is just a personal opinion.  I am not a financial planner and advice everyone to do their own research and make up their own mind. Nothing in this article should be taken as financial advice . This is solely ment for entertainment purposes.  

 

If you have read and enjoyed the article this far then please participate and leave a comment down below. 

So for the first time ever tell me what you think about the Ether merge is it a good or bad thing?

And what about the other issue no one is talking about , are you prepared for a exchange bankruptcy?  Should we all have external hard wallets or do we trust the Exchanges won't get broke? 

I'd love to hear from you. 

If you liked the article please scroll your hands down to the like button followed by the follow . Finally it is important to please tip . Please use the tip meter as all tips are free and won't cost you a cent. It takes a lot of time and loads of research aswell as effort to ensure that the rite info is articulated in the rite way and manner. Tipping  is a easy task and tipping me sends crypto to your self aswell so it's a win win either way.

 

That's all from me DerbycuzXRP till next time 

Ttttttttttttttoooooooo

Tttttthhhhhhhheeeeeeeee

Mmmmmmmoooooooonnnnnn

Lllllllaaaaaaammmmmmmbbbbbooooo

 

 

 

 

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derbycuzxrp
derbycuzxrp

A Blockchain enthusiasts who is at the starting point of trading on certain platforms and believe in xrp as I educate my self to educate the world


CRYPTO Talk XRP
CRYPTO Talk XRP

This blog helps make the crypto market understandable. I dwell deep into the connections and speculate on the future of XRP using wisdom and knowledge i trade the market and publish my results with detailed analysis . disclaimer I am not a financial adviser nothing here is financial advice or suggestions I am only expressing my own actions for entertainment purposes A journey to generational wealth starts with truth. Ignorance holds the seed to wisdom. In man lies the seed of the universe .

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