The Elliott road to $ 589
Updated
We left the green and remain in violet territory.
If we are in final major correction wave C (orange) the next bottom is around $ 0.16 (+/- $ 0.05), which will be reached around march to june 2019: see blue circle. As Bitcoins has its flaws it could possibly drag XRP down that far and beyond, as well.
The next major cycle can start afterwards which will likely be upwards regarding fundamental XRP data, see XRP Community. The violet wave gives an idea and is not meant as accurate, of course.
The green, yellow and red ellipses show the target range of $ 589 within the given channels. I suspect that even if XRP is able to assert itself, breaking through this mark, if at all, clearly tends towards the red ellipse.
Opinions?
If we are in final major correction wave C (orange) the next bottom is around $ 0.16 (+/- $ 0.05), which will be reached around march to june 2019: see blue circle. As Bitcoins has its flaws it could possibly drag XRP down that far and beyond, as well.
The next major cycle can start afterwards which will likely be upwards regarding fundamental XRP data, see XRP Community. The violet wave gives an idea and is not meant as accurate, of course.
The green, yellow and red ellipses show the target range of $ 589 within the given channels. I suspect that even if XRP is able to assert itself, breaking through this mark, if at all, clearly tends towards the red ellipse.
Opinions?
Comment
I adopted the purple channel of the XRPUSD chart as green channel on my XRPEUR chart (which misses historical chart data):Long: The green support and the upper downwards channel resistance is actually wandering upwards and we will eventually see if there will be enough buying pressure to break the resistance lines in the first 2 weeks of February 2019 to end of March 2019, at the latest.
Short: Until then, we remain in a bearish consolidation phase and if we fall through the green support line(s) the target for the final C wave is shown around the yellow ellipse.
Comment
Short: it looks like a repeating bearish head & shoulder pattern @ 4hrsComment
Short: symmetrical triangle @ 1hrComment
Alternative EWT count where we only are in wave 4. This leads to the possibility of an even further dip: target for wave 4 somewhere above $ 0.03.Comment
Big H&S could confirm former assumption to $ 0.04.Comment
be attentive for a possible outbreak:Comment
Comment
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