I'm a little late with this update, but I was VERY excited to see that XRP reached up to the Dark Green 4.236 fib circle ring like a BOSS! As I expected, Big Brother Bitcoin provided the fuel for the XRP rocket ship to blast off to this ring. It really looks like there is still fuel in the rocket boosters right now, because we did not pivot to the down-side after moving past this ring. I'm looking for at least one more surge to the 4.618 before we get a correction. We've got one red candle that looks like it's bringing the price line back down to the Dark Green 4.236 for at least a breather, but there is a possibility of greater correction. BTC will probably dictate the outcome.
Zooming out of the micro, we see some significant checkpoints that have now been eclipsed. We have made it beyond two critical previous high points from September 18th, 2019 and November 6th, 2019. But I need to see XRP overtake 0.40 and 0.51 for us to sound the "ALL CLEAR" horn that the bear market is over. It can happen. Enough time has passed now, so we could be on the verge of the next major run. Each day that passes that we don't have a major correction gives more credence to the idea that we are now in a true bull market.
I'm not ready to call the end of the bear market yet. But it's certainly a possibility that the cycle has completed. My attention will be on how far the price gets pushed down when the stochastic finishes this little bump in overbought territory. If we run down to the oversold zone and don't have much of a corresponding price drop, I think that's a strong indication that the next cycle has started. Time will tell!
Carlton Flowers
The CryptoPro
Zooming out of the micro, we see some significant checkpoints that have now been eclipsed. We have made it beyond two critical previous high points from September 18th, 2019 and November 6th, 2019. But I need to see XRP overtake 0.40 and 0.51 for us to sound the "ALL CLEAR" horn that the bear market is over. It can happen. Enough time has passed now, so we could be on the verge of the next major run. Each day that passes that we don't have a major correction gives more credence to the idea that we are now in a true bull market.
I'm not ready to call the end of the bear market yet. But it's certainly a possibility that the cycle has completed. My attention will be on how far the price gets pushed down when the stochastic finishes this little bump in overbought territory. If we run down to the oversold zone and don't have much of a corresponding price drop, I think that's a strong indication that the next cycle has started. Time will tell!
Carlton Flowers
The CryptoPro