On XRP we have a weekly fib starting at the lowest wick on the week of dec 15, 2019 going all the way to the body close on the week of feb 03, 2020. If you look at the fibonacci extensions -27 and -61.8% you can see price has wicked up to test these regions in two separate weeks and then has plunged its way all the way down to the opposite extension of 161.8% and finding support at 127%, as you can see with the candle body closures. As you can see after the initial downward move where I started my fib set up to the 78.6% level, price creates a zone that it respects for a few weeks. The same pattern of decision repeats here.
It is my belief that with the current price action of XRP, that it will show the follow the same zone creation around this level and then rocket higher to 0.21c as it did before come down and find support at 61.8 and continue on past the levels 0%, -27%, -61.8, finding these levels initially to be resistance but will soon become support.
Knowing that as of right now all cryptos follow similar price action, my bias remains the same for the likes of BTC and ETH.
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Also note that if you compare the percentage gains from the body candle sticks on the weekly, in a sense we have already begun to go parabolic. Very consistent gains over several weeks, especially if your order was filled at the bottom as were mine and a few lucky other individuals.
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Also, also note that today is the day US Oil dropped to $0.01... PetroDollar is dead