Chart analysis primarily based on Elliott Wave Market Cycle Psychology and Wyckoff methodologies.
Note
As depicted, here’s how Wyckoff Distribution may align without UTAD.Note
For sake of accuracy, this might be the actual triangle that has finished. B above A, down trending volume, volume breaks above VMA at each touch, each of the ABCDE legs has an abc structure. Note
Fair warning, if the last ABC structure is valid then XRPUSD will likely dump, possibly to .23, before the actual Spark rally begins. If the 12345 is valid, then it should rally close to the main chart above. I randomly placed 5 in this chart to fit it in. Note
Oh, and I placed the fib levels assuming the worst case, ie, assuming the ABC is valid.Note
This looks promising from a bullish standpoint. Looks valid and shows volume spike on breakout. Just need to see a sudden pump...Note
Remember, midnight in UTC equates to 7pm EST and 4pm PST. Keep that in mind for today’s air drop snapshot if you live in USA.
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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.