DrDovetail

XRPUSD Impending Death Cross. What to expect:

We can see here on h 1 day chart that the 1 day deathcross is imminent and will likely occur tomorrow or the day after at the latest. While at this point it does look like the initial cross will happen, My gut feeling based on fundamental developments and adoption in xrp, is that even if this initial cross does occur it will be short lived and proven a deathcross fakeout which will be reversed shortly there after back into a golden cross. Let's recall hat the beginning of the 2015 bull market for bitcoin began in a similar fashion where we got the 1st shortlived golden cross that then briefly went back into a deathcross before having it's real sustainable golden cross shortly later. I anticipate thee same kind of behavior this time around for xrp...however initially once this fake deathcross occurs price action could follow with it and we could see our current bearish descending triangle trigger a final capitulation breakdown and that triangle has a measured move down exactly to our super strong bottom support at 24.5 cents which is a good confluence point to skyrocket right back up at...however if the next breakdown that occurs is treating the current pattern more as a bearish pennant than a descending triangle then we could see a capitulation candle reach as low as 19-20 cents before the skyrocket back up. Lastly we could instead of a breakdown see an inverted bart pattern play out here in which case if it has a bullish enough impulse it's still possible we may avoid a deathcross altogether and instead see both moving averages bounce up off eachother. For something like that to occur at this point would require a green candle and bullish volume bar much larger than any we have seen for a long long time. All these things considered I think my wisest move here is going to be just wait for the break and if we dip down buy the dip at 28, 24.5, and again at 19-20 cens if we manage to make it that low. If worst case scenario price were to go under 16 cents at that point I may have to consider that the deathcross may not be a fakeout after all but that seems highly highly unlikely and low probability.
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