The Fear Before the Storm (XRP/BTC)
I've put a couple charts together trying to compare the XRP current set up with the beginning of its previous bubble, but I feel like everything is coming together like a perfect storm; including the panic sells we saw on monday. I took the fib levels and tried to match them up with the previous initial run up to try and project the potential price targets for this run up before the Swell conference (Oct 16th). Based on the comparison, first we should see if we can break 7000 sats, followed by a fomo pump to 12000 sats, an immediate sell off as the conference begins (buy the rumor sell the news), and then if the conference has any significant revelations, the follow up pump to 20000 sats. 5 days left, lets see if XRP can separate itself from the pack. The price movement on bitcoin will obviously have a major effect on this chart, and if bitcoin does infact go to $6000 like so many people are forecasting, i imagine this chart will not work out. Let me know what you think, and good luck trading.
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