We FINALLY have something to talk about after a nice little period of boring side-banding! As we know, XRP is still in lock-step with BTC, and it has mirrored its recent pump. The action right now is happening along the Gray 4.618 fib circle boundary, and it is VERY CLEAR that this is a "hot" line. Since XRP landed on this line, it's been bounding up the curve like a rubber ball. With the stochastic moving in a downward direction, and being right in neutral territory, I'm feeling a drop coming.
The parallel trading channel is out of play now, so all we have to go by for the immediate is the Gray fib circle set. The 4.236 gave it some serious juice, but how long can it sustain this upward movement on the micro level? Not long, in my opinion. I'm watching for XRP to bail off this line and shoot down to the Gray 4.618, especially if Bitcoin experiences a correction after today's pump. You can read my last post on Bitcoin to get my opinion of where the price line is possibly going (Hint: it's DOWN). 0.18 to 0.20 is where I would imagine the landing spot will be once we hit the 4.618.
Where do we go from there, you ask? We wait it out to see solid evidence on whether or not the bearish phase comes to an end. We don't have that evidence at this point. Again, it could be February, or drag on for several months before we enter the next monumental leg up. Several months ago, I talked about the possibility of a bull run not starting until February of 2020 at the LATEST. Now I think this is the EARLIEST, and I give it a lower probability than a late spring market turnaround point.
This might be a good time to get started on a new hobby to help pass the time until we make a hard pivot and head for our coveted Lambo prices.
Carlton Flowers
The CryptoPro
The parallel trading channel is out of play now, so all we have to go by for the immediate is the Gray fib circle set. The 4.236 gave it some serious juice, but how long can it sustain this upward movement on the micro level? Not long, in my opinion. I'm watching for XRP to bail off this line and shoot down to the Gray 4.618, especially if Bitcoin experiences a correction after today's pump. You can read my last post on Bitcoin to get my opinion of where the price line is possibly going (Hint: it's DOWN). 0.18 to 0.20 is where I would imagine the landing spot will be once we hit the 4.618.
Where do we go from there, you ask? We wait it out to see solid evidence on whether or not the bearish phase comes to an end. We don't have that evidence at this point. Again, it could be February, or drag on for several months before we enter the next monumental leg up. Several months ago, I talked about the possibility of a bull run not starting until February of 2020 at the LATEST. Now I think this is the EARLIEST, and I give it a lower probability than a late spring market turnaround point.
This might be a good time to get started on a new hobby to help pass the time until we make a hard pivot and head for our coveted Lambo prices.
Carlton Flowers
The CryptoPro