Hi there,
I know it sounds a lot presumptuous to try to guess what could be target and how XRP it's playing the cards and why it has been moving the way it's moving, so as usual, this is personal idea and not Trading Advice! Use as your own risk.
I believe they are trying to touch the 0,3 euros area and there's a really good explanation for it. Not because that's a good number or else. it's because what i will explain in the next update.
There are going to be ups and down, etc. So be careful.
I must say that i've been surprised how they have managed to do it without break down a lot, even in moments when btc have been going down at some points. i'm surprised cause i've been studying XRP for more than a Year by now and they have changed after fall of btc last year in November and a couple of weeks ago i have seen really good moves between RSI and Price. You may have notice that RSI have been going down but price going up. Or some indicators of Head and Shoulder but it havent break down.
I wont be surprised that there's a deal between coins because of the movements between pairs but that's another just a theory.
Maybe Ripple finally may have found the way to get pass through all sells and new algorithm to make it stronger than it was.
Time will tell us but anyway, hope you fin this helpful or interesting to meditate and how to trade it.
Ill update in a mins, just need to prepare some graphics.
Cheers to all!
Charter X
I know it sounds a lot presumptuous to try to guess what could be target and how XRP it's playing the cards and why it has been moving the way it's moving, so as usual, this is personal idea and not Trading Advice! Use as your own risk.
I believe they are trying to touch the 0,3 euros area and there's a really good explanation for it. Not because that's a good number or else. it's because what i will explain in the next update.
There are going to be ups and down, etc. So be careful.
I must say that i've been surprised how they have managed to do it without break down a lot, even in moments when btc have been going down at some points. i'm surprised cause i've been studying XRP for more than a Year by now and they have changed after fall of btc last year in November and a couple of weeks ago i have seen really good moves between RSI and Price. You may have notice that RSI have been going down but price going up. Or some indicators of Head and Shoulder but it havent break down.
I wont be surprised that there's a deal between coins because of the movements between pairs but that's another just a theory.
Maybe Ripple finally may have found the way to get pass through all sells and new algorithm to make it stronger than it was.
Time will tell us but anyway, hope you fin this helpful or interesting to meditate and how to trade it.
Ill update in a mins, just need to prepare some graphics.
Cheers to all!
Charter X
Comment:
PS:
It could be curving right now to make a big cup an handle on 4 hs chart, so dont forget to put all your stops...
Maybe is doing the correction right now and wont get more high... The Adam formation already has the form so always alert!
Cheers!
Charter X
It could be curving right now to make a big cup an handle on 4 hs chart, so dont forget to put all your stops...
Maybe is doing the correction right now and wont get more high... The Adam formation already has the form so always alert!
Cheers!
Charter X
I had my doubts if it was the right way to get price up because if you know, Broadening Wedges always return to the place where it started, and because i did not understand the right meaning of having the price go up so desperate. In my personal idea price should go slow and with lot of consolidation to make it stronger. Ups and downs needed but in the right dosis. Everything that goes up fast goes down fast, any market, it does not matter.
So even when it's small time frame you may see this possible move:
It is just graphic representation and wont be exact, so forget about that. it's to explain theory.
At the end the result is that price because i dont know if somebody have seen it on the week, maybe is just me, but have strong feeling.
This is why i believe they are going to that point.
If they manage to touch that point, just even a decimal more than the candle shodow from Sept 16th. It would mean that the Adam and Eve would be taking place according to Fibonacci.
I have analyzed the fractals in less time and confirmed that the movement is lot similar that what you may think. Soafter touching price there would be a downtrend as usual, with a falling wedge right down from where all started.
Thats the problem using Broadening wedge, but as you see in fibonacci, the next would be a really great uptrend to .35 aprox.
That would be good cause finally could pass Chuvashov Fork and go for long period as you may all have been waiting.
Again April 2020 it seems to appear again in cycles i have been studying. I dont know what would happen, but something will happen over there. Something significant in coins.
Anyway. Lets keep an eye open and see what happen. But even if they do not keep this movement, you now know possible target and what you may expect.
RSI:
Ive seen these movements a lot in less time, so watch out cause at the end they tend to form a Bearish Butterfly and you all know what that means.
AS you see, price is moving down but price up. Really interesting.
Even in this indicator, you see it did not go down after what it looked like a Head and Shoulder and even confirmed with volume.
MacD shows we are just right about to enter a drastic change of wave direction, so it is important to stay alert!
Anyway. Hope you find this helpful and again, this is just theory, not trading advice.
Cheers to all!
Charter X