While I have a long bias on XRPBTC, it's still consolidating the move during early May. There's considerable selling pressure every time it has attempted to break above the SMA50, likely from people that got in between 0.00014 and 0.0002s. I expect this consolidation to continue until there's sufficient new buyers for a push above 0.00014 with stability. A close below 0.00009s may signal further drift down to the 0.00006s, but otherwise it seems to just be a matter of patience here.
your fib retracement levels seem a little bit off and in the wrong direction.. correct me if i'm wrong but afaik - in order to pinpoint the possible resistance/support levels for a retracement - you need to pull from the lowest point of the wave (lower left) to the highest point exactly.. how did you manage to get the fib tool to start with 1 at the top without drawing the fib extension lines ? did you manually reverse the numbers ? why ? thx!
i totally agree with your analysis of the fundamentals though...
i totally agree with your analysis of the fundamentals though...