The time difference in fractals is on average a 6 day difference. If history repeats, XRP is wrapping up its bear cycle within the next month. I'm bullish on BTC there for I'm Bullish on large caps in the coming months. I'm not much of a fundamental analytic but this is one coin I would not own spot. I will be finding long entries on bitmex over the next weeks and be very patient with this one since BTC is my main focus.
Counter trade me here: www.tradingview.com/u/scurski/
P.S. Bill Clinton is going to rip the sax at SWELL.
Counter trade me here: www.tradingview.com/u/scurski/
P.S. Bill Clinton is going to rip the sax at SWELL.
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I originally made this fractal to show where we were in terms of the previous bear cycle. I'm only concerned about BTC because it will dictate the market. If you think this fractal is going to play out while BTC is declining you're truly a special individual.
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While price has been decreasing, RSI has remained in an uptrend and MACD is looking to cross bullish. If BTC finds a way to gain bullish momentum you already know XRP will follow.
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With the recent drop in BTC, XRP held its value the most compared to other alts on Bitmex. MACD did cross bullish and RSI still remains in an uptrend
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Ichimoku daily: Price has not visited the kijun since June so im guessing at the very least we'll see a short break above the tenkan.
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ichimoku 4H: price entering the cloud here is shining light on the idea of price reaching the tenkan on the daily.
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Daily EMA 12 & 26: Price breaking above 12 and reaching 26 also has the same target.
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Keep in mind this is a short term bullish view. I'm playing it very conservative and staying vigilant in this bear market.
All though fractal is still looking great this might be the end of XRP's down trend and my have just begun its bull cycle. the next 2 weekly candles will say alot.