TradinSides

The BTC is completing its 4th #ElliottWave on the weekly timeframe.The 1W #MA50 still serves as historical #support, with Trump's #tariffs as a drag.The optimistic scenario extends the 5th point to ~120K, while a pessimistic scenario expects a #retest of the ~55K support zone of the 200 Moving Average.

Bitcoin is forming the fifth Elliot Wave and will bounce back to the level of the intersection of points #1 and #4.

The XRP is ready to breakout from the massive Bullish Pennant pattern through the $2.50 resistance level as Paul Atkins, as the head of the Securities and Exchange Commission (SEC) is anticipated to ease legal pressures on Ripple Labs and potentially lead to the approval of more digital-asset ETFs. Additionally, the launch of the #WisdomTree Physical XRP ETP (XRPW) in Europe signifies growing institutional interest in XRP.XRP need liquidity to break above $2.50 or we will see $2.05 again...

The XRP is is forming a classic #DescendingTriangle pattern at the 4 hour chart on the way to the January 20th Inauguration.... But how eager to see XRP overcome gravity and break free from those bonds!

The XRP re-test of the $2 level could be the end of the 2/5 Elliot Wave of the #Ripple bullish cycle.The bullish potential is based on:- The recent launch of #RLUSD,- Trump's embrace of US #altcoins,- the appointment of a pro-crypto SEC #chairman- the resolution of Ripple's legal battle with the #SEC, and- the approval of the XRP-focused exchange-traded funds [#ETF]The classic five-step Elliot Wave proportions are based on 1st Wave being the base of the measurement. Wave 2 usually retraces 38.2% to 61.8% of Wave 1, but never goes beyond the beginning of Wave 1. Wave 3 is often the longest and strongest wave in an impulse, and it typically extends 161.8% or more of Wave 1 (up to 261.8%). Wave 4 retraces about 23.6% to 38.2% of Wave 3, and sometimes up to 50%, but never goes below the start of Wave 3. It should not overlap the price range of Wave 1 in a standard impulse wave. Wave 5 usually matches about 61.8% of the length of Wave 1, but it can go as high as 161.8% of Wave 1 or Wave 3 in strong trends.It went a bit longer than I expected. See my new updated Idea...

Bitcoin reserves have dropped to a historic low of 2.4 million, signaling a “supply shock”. The whales purchased recent retracement causing a strong demand.El Salvador keeps stacking 1 BTC per day, every day.The Digital Chamber’s Token Alliance urges #SEC to rethink crypto probes and lawsuits from ‘day one’ of the new Trump administration.

The overbought state of the #SP500, the upcoming #Fed's #RateCut decision risk and the buy the rumors sell the facts philosophy along with pre-seasonal profit taking could send the price of #Bitcoin as low as 102K.In addition, the BTC liquidation map shows a total of ~$2 billion in highly leveraged bullish positions from the 102K price level. Those have to be erased before we can go higher.Mt. Gox transfers 172M #Bitcoin to new wallets as BTC hovers near 107KSetting the first #TakeProfit at 104.25K

With all the great news on the table - the RLUSD, its wide acception and upcoming XRP #ETF, the #Ripple stands under heavy selling pressure due to SEC’s decision to #appeal the Ripple case ruling, impacting demand and market sentiment.SEC Commissioner Caroline Crenshaw’s reappointment vote is set for Wednesday, December 18, according to Fox Business. Congress adjourns for the year on Friday, December 20, meaning that if Crenshaw’s renomination fails, Trump could nominate a new Commissioner.The SEC must file its appeal-related opening brief in the Ripple case by January 15. Crenshaw’s reappointment would mean three Democrats could vote to file its opening brief. XRP could face selling pressure if the SEC pursues the appeal.If the SEC withdraws its appeal, the agency could approve pending XRP-spot ETF applications, driving XRP demand. If not, the price could form the Head And Shoulders pattern driving the XRP price to $2.2 or below.Of the more than $65.9 million in RLUSD minted, only $13.3 million was on #XRPL and $52.9 million was on the #Ethereum network!

The price of XRP surpassed the descending resistance line at $2.35 and could be heading towards higher levels if the level holds.

SEC #Lawsuit Resolution, new Banking #Partnerships, #Payment Network Integrations and #Ripple RLUSD #Stablecoin approval are the upcoming events that could drive the #XRP price in the near future.