POLONIEX:XRPBTC   XRP / Bitcoin
It seems that we are in consolidation period.
We also may have touched elliot 4, but we may still test previous wave top (even that on Finex it already touched).
It should retest 4h Ichimoku cloud .

1d MACD and 1h Stoch RSI look good.

XRP also looks to be forming a pennant
Comment: This is an update for
Comment: It broke the pennant and may retest the cloud.


Measuring the last wave, the most probable target is the second but a new target zone appeared at a closer analysis.
Comment: P.S. The white lines have the same length.
Comment: Broke the flag (sorry for term confusion... that was a flag not a pennant)
Comment: It may still touch the 3h cloud. I will personally set some orders at the top of the cloud.
Comment: Currently sitting on top of 15m cloud and trying to break 3d cloud (where our next target is)
.
Comment: It seems that XRP is falling.
It had a huge spike from 9367 to 11571 and currently it may be in a small correction phase.
It didn't broke the trend and is also way over 15m Ichioku Cloud.
Comment:
Trade closed: target reached: All targets reached. Can go higher but will not chase it as it may fall any time.

Comments

How deep a retracment will we have? 30% - 40% ...
Or are we looking at an extremely long wave 5?
Reply
@HEYO22, I think we will have a wave 5 at least the same length as wave 3.
Please see the white line from one of the previous comments.
Reply
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