Pi cycle indicator has accurately called the tops in btc and alts bull cycles....bull cycle ends when the orange MA crosses the green MA.
Look at where the MA's are currently.
this is a weekly chart and the chart that has the most price data for XRP.
the most logical trend lines with this data is the green dotted line. if that is the correct placement of the trend line , look at the wicks that occurred between 2020-202. highlighted by the colored arrows and "idiots sold."
The SEC Fud has taken us right back to that trend line and we have currently bounced off of a multi year trend...coincidence?... i think not.
However, there is the possibility that the giant wick that occurred pre 2015 is relevant. That is what the red trend line is for. In a bearish scenario of the break of the green trend line , support will be found in the low teens of price.
The Elliot patterns coincides with the same time you see the price action on the chart. the move from $.10 to $.8 shows 5 sub waves. These 5 waves could be making up a larger wave 1. The SEC Fud created and ABC correction, to complete major wave 2.
If price holds this level and closes above $.3 on the weekly timeframe ...well start wave C
The Elliot structure was placed below the actual price action to avoid cluttering the chart...just imagine it is actually placed on the candles
if you were here in 17', you know why the SEC did what they did and that should tell you what's coming next...
Bull target: new ATH
Bear target: retest $ .1-.15
****If the weekly closes above $ .3, 85/15 bull/bear probability...wait and see.
Look at where the MA's are currently.
this is a weekly chart and the chart that has the most price data for XRP.
the most logical trend lines with this data is the green dotted line. if that is the correct placement of the trend line , look at the wicks that occurred between 2020-202. highlighted by the colored arrows and "idiots sold."
The SEC Fud has taken us right back to that trend line and we have currently bounced off of a multi year trend...coincidence?... i think not.
However, there is the possibility that the giant wick that occurred pre 2015 is relevant. That is what the red trend line is for. In a bearish scenario of the break of the green trend line , support will be found in the low teens of price.
The Elliot patterns coincides with the same time you see the price action on the chart. the move from $.10 to $.8 shows 5 sub waves. These 5 waves could be making up a larger wave 1. The SEC Fud created and ABC correction, to complete major wave 2.
If price holds this level and closes above $.3 on the weekly timeframe ...well start wave C
The Elliot structure was placed below the actual price action to avoid cluttering the chart...just imagine it is actually placed on the candles
if you were here in 17', you know why the SEC did what they did and that should tell you what's coming next...
Bull target: new ATH
Bear target: retest $ .1-.15
****If the weekly closes above $ .3, 85/15 bull/bear probability...wait and see.