After continuously decline, price reversed back from the 0.886 fibonacci level and started new upward cycle with an Elliot waves. According to the theory of Elliot wave, the second (2nd) cycle should revers from 50.0 or 61.8 level. Here we can see that price reversed exactly from 50.0- 61.8 levels, with high volume moving in the upward channel. The firs entry was at the golden ratio, on lower timeframes, there were pannet pattern. The next entry point would be after breaking the resistance level.
Note
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Note
unexpected decline of RippleNote
Note
Sell if breaks the 0.618 fib levelNote
Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.