cbistriceanu

cbistriceanu Updated 

Here is an idea about what has happened so far and where we may be going. This is a short term trend as the analysis is made on the four hour chart! The first Elliot Wave pattern has completed along with the ABC correction. It is very possible that we are now in the first wave move of another Elliot Wave? The volumes are picking up but we will need to see more in...

cbistriceanu

The testing of the 50MA on the 4 hour chart could indicate the completion of wave 2. Later this evening we may see the wave 3 in action. See the updated chart. The previous one stil stands but I have adjusted the time frames.

cbistriceanu Updated 

The price of XRP\USD has touched the 50MA on the four hour chart and held that level. On the Fibonacci Retracement indicator we can see the price had also touched the 0.618 zone and did not breach it. With some room left for the RSI to move lower in to the oversold area we may see a further decline but personally I have taken some long positions in this zone. I...