Cryptos continue their pattern of chopping around as buyers and sellers are trying to sort out the mess in terms of regulatory news and rumors flood the news feeds. This market appears just waiting for a major news events to push the markets to new lows for the month. Sitting on the sidelines can be boring but that is the smart way to play this market.
News:
80% of Bitcoin Already Mined - Only 4.2 Million To Go
Bitcoin broke the upward RSI almost signaling a long entry but the TTM Squeeze failed to confirm. Then BTC turned over to the downside. The move up on i-ii was very choppy and not characteristic of an impulse move. This will take more time to sort out but the bias here is to the downside. If there was a good option to short BTC that would be easy money to be made on the downside. Patience is key, this is a healthy correction.
Still looking for Ethereum to fall to the downside if it wants to confirm that wave 5 is over.
Litecoin is just chopping sideways here and looks to be falling asleep.
Ripple creating a descending staircase after the MoneyGram news, it has been non-stop selling pressure.