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RIP

R.I.P. PLE - The bloodshed continuesAfter my previous analysis on RIPPLE was a bittersweet victory - althought the initial stop loss was triggered and RIPPLE reached new high - all of three targets I marked on the chart were hit perfectly - 2.1, 1.7 and final 0.9 , giving very good and profitable outline for XRP shorts. This time I think we have very interesting and uncommon structure - the extended zigzag. According to Elliott, all extended waves have +4 to their original wave count, so extended zigzag should be 3+4=7 waves. Right now we have slight rebound after this short, drastic fall. Targets for entry and rebounds: Sell entry (safe): 1.26 Sell entry (bit greedy): 1.31 Target 1: 0.9 - rebound expected after that Final target (most possible): 0.6 Final target (extreme): 0.4 - if that target is reached, very strong rebound will happen in minutes after reaching it I'll update the targets when the situation will unfold. If you are interested, you can also see my Bit.coin short analysis.
BITSTAMP:XRPUSDShort
by thewhitefox
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