massguy66

massguy66

This maybe the bottom of a long 6 month wedge up till now. This needs to go up from here... If the bottom falls out now its over.

massguy66

I believe we are still at least a month from breaking out of this big ole wedge we are stuck in. The news and rumors just keep bumping us around inside of it for now. So for now I'm following the charts, not the news, and trying to be patient.

massguy66

There maybe a couple of buying opportunities before 2025 and possibly a short gift of 3$ before venturing into the new year where ATH will be tested and broken. Good luck to all and Happy Holidays.

massguy66

If XRP keeps following this stair stepper trend on the line we will hopefully reach the previous ATH by this weekend or sooner. Which will in turn be a new catalyst for FOMO and this is before anything good even happens. Gensler resigning, RLUSD, XRP ETF, possible no tax on American made Crypto's, Lawsuit settling or dropping, Mass adoption. Looks like a new ATH...

massguy66

I'm giving XRP till the end of march, assuming the SEC doesn't appeal. This is the end of the 7 year long wedge. If she doesn't take off by then, we maybe in for a depressing ride. Time will tell.

massguy66 Updated 

the multi year wedge is tightening and the common breakout point aligns roughly with the deadline for settlement talks ordered by the Judge. Well see what happens, big things are coming and I remain hopeful.

massguy66

we have been bouncing off the 200 DMA for over a month now, after this short test of retracement levels I believe we will continue this trend until the 200 DMA line breaks the months long wedge. Based on the timeline it looks like right around thanksgiving.

massguy66

Still new to Elliot wave theory, but what I think (hope) were looking at here is wave 3 for the year being a 12345 and wave 4 for the year being the ABC correction. C being what we are currently looking at. Wave 5 for the year starting (hopefully) after the triangle is broken between now and early October. What do you think?

massguy66

a neat little convergence of trendlines I turned of fall the background clutter i had for this. what does it all mean?!

massguy66

hopefully the down trend is about to break and a move to the upper trendline is in progress

massguy66 Updated 

2 potential paths i see, dip to 1.5 at the bottom of the channel or we continue to ride above it with a 3rd cup and handle to close out the week. either way 2$ by Sunday

massguy66

Possible decision point of either a break out or breakdown around 4/6. any thoughts?