We quickly recovered from that single bar dip yesterday and actually poked above Wave 1 high, though by a tiny fraction. Right now there are no technicals limiting us from more upward movement except for the Monthly Pivot. LOI also recovered and made a new high, though again I am seeing a flat top forming again like I did yesterday preceding that short dip. The...
Wave 1 ended up being just shy of my previous analysis, and Wave 2 retraced a near perfect 0.382 fib. I adjusted this series prediction based on Wave 1 and 2 end-points. This brings Wave 3 target down to the HA Monthly Pivot of 0.73 which is also the 1.272 fib of Wave 1. My gut feeling is that were going to see a pretty large jump at some point in the next...
It appears we aren't going to end up with a Bull Pennant formation during this correction, instead we're seeing the Flat ABC correction I called as an alternative formation. A move below 0.63 would invalidate the counts, potentially forming a Bearish Triangle, or extending into an XYZ. Remember that correction waves are also correction waves of a higher degree,...
I tweeted multiple times to look for an exit at 0.69, as well as putting it in my daily analysis and follow-ups to those analysis. Price is now at 0.64 and is a good place to re-enter as that is the 0.50 fib of the move from 0.55 to 0.70. I see two possibilities for this correction wave, an Bullish Pennant (plotted in purple) or a Flat ABC, both of which would...
Im not going to go into all that crazy talk on why I think that we can just see for ourselves if it plays out lol.
There are a confluence of indications that we have established a bottom. I very much hesitate to say this as it puts my reputation on the line, but I will outline my reasons in the following analysis. As a preface, I want to make it clear that charting Elliot Wave corrections is very complicated as there are over 20 possible counts and my use of Elliot Wave...
Bounce from 0.57 lows was limited by a combination of the (P+S1)/2 line and the 0.5 Fib of Wave 5 at 0.64. It appears we are in an ABC correction for the moment, with Wave C ending anywhere between 0.64 and 0.67. A move beyond 0.71 would convert this into a new bullish impulse wave, probably a Wave 5 situation. The Monthly Pivot sits at 0.75, but we are close to...
Bitcoin took a dive since my last analysis, currently at 7300. Ripple on the other hand has been relatively flat, currently at 0.60 still up 0.03 from its low yesterday. LOI has been fluctuating about 1,000,000 over the last 10 hours, also seemingly to ignore whatever it is that Bitcoin is doing. The purple line on the chart is the Monthly HA(P+S1)/2 Point, and...
Whats up Guys, Slight Deviation from my earlier chart on Ripple, posted this morning - I misread it as a follower pointed out. However, it is STILL looking bearish, my timing was just off - Im showing a bear flag on the chart - Indicators not as solid as they were with the Bitcoin - so, as usual we're looking for some solid confirmations before making a move....
XRP breaks through Pivot @ 0.75 after breaking down through bullish flag and RSI channel. The (P+S1)/2 is at 0.64. 4H RSI is under 20 and is extremely oversold. The 0.63-64 area also provided solid support a month ago and back in March. This confluence of support should hold. If not, were looking at 0.55-56.
Whats Up Guys - Updated XRP Chart at the request of the trollbox - My opinion on XRP is still neutral - could go either way. Like the other alts, big bitcoin moves affect them SO MUCH. Ten Likes and I will update the chart Intelligent disagreement welcome Good Luck - See you on the trading floors www.bitmex.com #Crypto #BTC #cryptocurrency Twitter...
XRP was at a good entry point, now that its been added USDT pair in binance today , it has more trading volume in this exchange now, on the 1 hour chart you see a bull pole flag with measured move up after breakout of the flag. That is my exit position then we should have a retracement after that about 38%-50% before continuing. This is just a predication at that...
9x leverage Stop is more loose than I would look. It's a trailing one beginning at what's shown on the chart. May be a longer term hold if it's alt season.
I think we may be ready for a break to the upside. After the sell-off tuesday night, we corrected into a wedge formation. After a failed break-out yesterday, we found support on the top edge of the wedge, consolidated within a very tight range, and we now seem to be slowly curving upwards. I will be looking for a break above 0.00009300 to confirm. Good luck
Possible scenario. If we have strength and volume, should be able to target the 0.000110-0.000120 range.
We are seeing trend reversal, the coins are oversold, too much expectation in short position. HODLrs will not sell any more and whales are waiting for the right price at any moment we see signs of uprising.
Here is XRP forming a saucer pattern, we can see that we've probably bottomed out here, where we also have a bullish divergence on RSI strongly signaling a bullish reversal. And it just gets strengthened with it being in the oversold region. We're at the end of the trendline end-we're just too close to the reversal, which may also lead us to new ATHs. Keep a...