Hello again Degenerates,
Who would've thought that we would have gotten some exciting moves happening on a Sunday night.
I had to run back from the gym to watch it with some popcorn as a bunch of bulls play with heritance of my children. Fun times.
However, I would like to get away from the Bitcoin Wars and analyze a little of what is happening in XRP.
- Last week, XRP price action filled me with hopium as price traveled in a tight channel which, for noobies like me, looks exactly like what a Leading Diagonal Wave 1 would look like.
So I went back to the chart when did some doodles that you can now see on your screen.
- Per my analysis, XRP looks like it has gone through an ABC Flat Correction that ended last week and is not starting the first impulse wave of a Macro Wave 3 (or 5 depending on where you start your Elliot Waves cycle.)
- If I am correct, this Wave 1 will have a price target of $3, than we would go in a short Wave 2 and immediately jump into a bullish Wave 3.
- Zooming in to where we are right now, don't be surprised if price dumps into that purple zone highlighted in the chart, that is our PT for W2 of W1 of W3(or 5). It could even go lower, but i don't expect it would.
The fact is, if you took profits, great. If you didn't, get ready, because we are now in the playground for the Manipulators, preying on liquidity that some butter hands will regrettably give to them.
This is my bullish scenario for XRP anyway. If you want to see my bearish scenario, you can check the post I made on the ADA chart in the link below:
https://www.tradingview.com/chart/ADAUSD/3imundCV-IMPORTANT-WEEK-IS-ABOUT-TO-BEGIN/
*As always, I'm just an observer of the market attempting to decipher it's hidden secrets. This is not a financial Advice.*
Who would've thought that we would have gotten some exciting moves happening on a Sunday night.
I had to run back from the gym to watch it with some popcorn as a bunch of bulls play with heritance of my children. Fun times.
However, I would like to get away from the Bitcoin Wars and analyze a little of what is happening in XRP.
- Last week, XRP price action filled me with hopium as price traveled in a tight channel which, for noobies like me, looks exactly like what a Leading Diagonal Wave 1 would look like.
So I went back to the chart when did some doodles that you can now see on your screen.
- Per my analysis, XRP looks like it has gone through an ABC Flat Correction that ended last week and is not starting the first impulse wave of a Macro Wave 3 (or 5 depending on where you start your Elliot Waves cycle.)
- If I am correct, this Wave 1 will have a price target of $3, than we would go in a short Wave 2 and immediately jump into a bullish Wave 3.
- Zooming in to where we are right now, don't be surprised if price dumps into that purple zone highlighted in the chart, that is our PT for W2 of W1 of W3(or 5). It could even go lower, but i don't expect it would.
The fact is, if you took profits, great. If you didn't, get ready, because we are now in the playground for the Manipulators, preying on liquidity that some butter hands will regrettably give to them.
This is my bullish scenario for XRP anyway. If you want to see my bearish scenario, you can check the post I made on the ADA chart in the link below:
https://www.tradingview.com/chart/ADAUSD/3imundCV-IMPORTANT-WEEK-IS-ABOUT-TO-BEGIN/
*As always, I'm just an observer of the market attempting to decipher it's hidden secrets. This is not a financial Advice.*
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.
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.