Sideways movement is exceedingly difficult to chart, so I took a step back and waited for the market to make its move. The last real movement up we were looking at a target of 0.56. Everything is lining up for another test of that level. This is an important level as it has provided both resistance and support over last several months and, assuming my wave count...
RSI looking fine, MacD crossing, and Lower bounces of BBands set XRP up for a huge run to the north side. Chart is mimicking itself from over the last 1 year and is poised for another massive spike up. Only riding this wave to 90k or 100k sats.
Happy Independence Day America! I was looking for a new entry point yesterday and ended up putting in a limit buy order at 0.48489 which was the 0.5 fib and it got filled. Price continued to go down into Wave 1 territory which was concerning. Wave 4 is not supposed to go into Wave 1 territory but can "slightly", which it did by about 0.008. The underlying...
XRP broke out of the falling wedge and will continue upwards movement when in closes above the trendline
Yesterday I plotted a Wave 3/C target as 0.52361 and price hit 0.51978, very near that target. The trick now is to figure out if this is Wave 4, or a new Wave 1 down. My entry point was going to be at the 0.382 fib of Wave 3 which would be at 0.49312, but there are a few things I am worried about and want to watch for confirmations before I buy more here. BTC...
XRP is currently showing us a Bull Div on our 4HR timeframe. We c Take Profit Zones 7630 7890 8110 We can expect profits of 5%-10% Stop loss at 6980 Happy Trading Telegram link in Bio
The violation of 0.45 was a difficult thing to digest and we are in this difficult to plot no-mans land. The general consensus is that BTC will rise to above 7000, potentially to 7700. If we correlate this to XRP we would see 0.55-56. This lines up with the potential impulse wave plotted in green. This could finish the correction wave of the higher degree (not...
The following analysis isn't going to be particularly helpful. Basically, from my point of view, 2+2 is no longer 4. What I can tell you is this; buy. Why? Because I truly believe in XRP and Ripple as a whole. There is some major traction in users of Ripple products and that will inherently increase the value of XRP. Let me put it another way, this next paycheck.....
Pennants and Triangles are very similar formations with some key differences. Pennants are considered shorter term, while Triangles are longer term. Pennants are also usually defined by a surge-like flagpole and are usually formed during strong trends. The exit of either formation is also different, where the Pennant exit will move the length of the flagpole, and...
It looks like the 2nd scenario I plotted yesterday is in play, with the price dipping below 0.47 to a low of 0.45. Until the price raises above 0.496 the near-term bias is neutral, and Id like to see 0.56933 for a mid-term bullish trend signal. Right now we are still in an Intermediate Correction Wave after the completion of the Intermediate Impulse Wave...
Im getting a lot of push from other chart analyzers that were going lower, that my current analysis is silly. Elliot Wave theory says that every impulse wave structure is followed by a corrective wave structure. While there are a very large number of potential correction wave formations, the simplest of those is the ABC correction wave. At this point in time we...
The 2018 low of 0.459 was breached and rebounded... twice, over the last 16 hours. The last rebound was 0.04 and is a bullish engulfing bar, altogether a very strong bullish signal IMHO. This would mark the end of Minor Wave 5 and would now start the correction waves. Price has to go above Minor Wave 4 at 0.496 to indicate a potential new bullish impulse series,...
We are on the precipice, currently testing the bottom trend-line of the Bear Flag plotted yesterday. A break of this should lead to at test of the 0.459 low of the year. Standard technical analysis of a bear flag says the pole should repeat, which means we would be looking at 0.39. However, 0.459 is a pretty big line in the sand and a pause there should be...
I left the bullish divergence lines I drew (cyan) in my previous analysis since I was called out about my hanging onto it. The divergence played out and we are looking at a 0.06-7 bounce already. I feel the need to remind everyone that my analysis isnt meant for long term, or even intermediate term, but generally less than a week, and even more so, 2-3 days. So,...
I apologize that I was not active during this dump, really bad timing as I have been at the Cisco Live conference. In my last analysis I put a bunch of trendlines in place, a break of which would signal direction. As you can see from this chart, once the price broke down past that bottom trend-line it just nose dived. There are two potential EW counts. The good...
I mentioned this morning a slight concern about the topping LOI pattern I saw. It broke down during this 4H bar. That said, I do not see it as an indication at this time of any significant downward movement. There is a new Bullish Ascending Triangle on the chart. It terminates in 20 hours. These things never go to full termination, so I expect some break one way...
The current Wave count is becoming increasingly difficult to plot, or is just simply beyond my experience with Elliot Wave. This drop over the last 20 hours would seem to make Wave 3.. not a Wave 3. I need to dig into the underlying structure more, and that is going to take some studying. EW is not simple, if it was you would be doing it too :) Anyway, not to...