We just finished Wave 5 and are currently in a correction wave. This correction wave hit the 0.382 fib perfectly and is currently range bound in a potential WXY formation. Bitcoin (BTC) and Litecoin (LTC) is currently down 4% and, with the downside potential remaining, there is a high probability of them dragging Ripple (XRP) also. If we extend the larger...
Two weeks after I exited my position at 0.31601 to re-enter at a lower level I finally am vindicated as price drops to 0.30 overnight. We can expect a retrace up to the 0.31 level, the 0.382 fib of the recent drop. Its possible the retrace will be limited by the HA(P+S1)/2 level at 0.307. Normally I would expect the (P+S1)/2 level to provide short term...
There have been a number of formations broken to the upside over the last 24 hours, including bearish formations such as the Ascending Triangle. There is a confluence of resistance here at 0.354 with the descending trend-line from 6/3 which has been touched 4 times since then making it a pretty strong resistance trend-line. There is also the horizontal resistance...
Yesterday evening I posted a chart in which I called for a break up and down due to the Symmetrical Triangle that had formed and the extremely tight range. The momentum I had thought that break would cause was limited by what is now an Ascending Triangle, and the larger Triangle beyond that. As I write this I can see some momentum picking up to the downside, but...
Look at the chart. the range has been narrowing for a long time now. There is very clearly a move setting up here, and it should be relatively big.. 0.10 big.
Last night the price broke upward through the descending triangle unexpectedly. This is the problem with chart formations like this; while they normally do one thing or another, there is a chance that the opposite happens, and last night it did. Part of this push upward was due to one of the exchanges shutting down for maintenance. At the very moment the servers...
No support/resistance levels or Elliot Wave analysis today. I want to focus on one simple thing, the Descending Triangle over the last three days that terminates in one day and very likely will break down today. In addition the bullish trend-line (dotted line) from 8/13 broke down yesterday. Here's the funny thing; I exited my position at 0.31601, which......
XRP's falling wedge is ready for a breakout, usually falling wedges breakout on the 5th touch (E).
XRP's volume is picking up and it seems that the abc correction ended.
The correction target I called for three days ago has been reached. We broke just above the 0.382 fib of the last move downward at 0.31857, as well as the 0.786 fib of Wave A. There is still room for 0.33 and I see indications of some buyers still in the market at this level. I will be looking for an exit today with the goal of buying in again sub-0.25. A 4H RSI...
Wave 5 has most likely been established at 0.245. That is the 1.0 fib of Wave 4, and is right above the Monthly S4 Pivot Point. Assuming that Wave 5 is complete, this correction wave should retrace to between the 0.382 and 0.5 fibs at 0.319 and 0.341 respectively. If this correction wave is a typical ABC, expect 0.32 -> 0.26 -> 0.34 formation, then a leg down to...
XRP BTC TRADE OPPORTUNITY LONG TERM UPDATE
I want to switch gears for a moment and take a look at the larger picture. Since the beginning of Ripples' data (on Bitstamp) the Daily RSI and Daily Fisher have never been this low. Simply put, there is no room for more price declines at this level without at least a few days of upward movement. I am NOT saying to expect a trend reversal, there is simply no...
"Bittrex Adds XRP and ETC US Dollar Markets on 8/20" and this coincides with the fact that currently in a consolidation, triangle forming and we expect to resolve into the upside
Normally I would only do one chart a day, and update that chart with additional charts and comments, but the change in direction is significant enough to take another fresh look... The chart I posted this morning did a fake out, hit 0.786 extension of Wave 1 (A) then very quickly reversed with a significant push upward. This would appear to confirm the completion...
I zoomed in farther than I normally do here because I need a better foundation to find wave structures and being flat so long finding the right 0 is tricky. What I suspect is happening is we are in an ABC correction of this last major push down. The chart you see here is the underlying structure of that ABC, which itself is made up of a combination of Impulse and...
Ehi guys, this is Busywithcrypto, today we'll talk about ripple. We can see like we're now in the 0.4 zone, a really crucial zone! we need now to think one moment on the current situation of the entire market. Ripple is at 0.4 and btc is at 7000. Now i think BTC will touch the 6000-5000k zone so where will xrp go?? I think if btc will go that low xrp will go...
Finally starting to see some signs of a potential bottom on Ripple. I see 3 buy signals on 12hr and an easy place to put my stops. My buys are down to local bottom, stop is a comfortable distance below. Daily is still technically in a bearish trend, so this is a premature trade idea based on what I see starting to happen on low time-frames and what I expect to...