petro90
Long

XRP. 20% increase or 20% fall?

BITFINEX:XRPUSD   XRP / U.S. Dollar
After the buyers began to break the wedge up September 18, the volume significantly increased. And now it does not matter what was the reason for this growth, since after the growth began a normal correction, rather than a sharp fall, which often happens after a sharp and rapid growth, especially in the bear market.
Buyers for the first time broke an important level of $ 0.46, which in the past three times stopped the fall:
But during the correction, buyers could not keep this level.
After the sellers cured $ 0.378, the growth started again, after which the correction is not as sharp as in the previous case:
But while the price is under $ 0.46, as long as the price is not fixed above this level, I will not buy this coin.
If we assume that the first wave of growth began on August 14, then the 3rd wave, which ended on September 21, was very strong, it is 4 times greater than the first wave:
Therefore, I assume that the 5 wave may not update the maximum and will end at a price of 0.585 (0.618 from wave 3).
The only question is whether the correction has already ended and the 5th wave is formed right now, will there be another one of $ 0.38.
If buyers try $ and get fixed at this price, I'm expecting $ 0.585.
But if sellers can break through to $ 0.44 (from this level the price is secondarily reflected: then the correction will continue and I'll wait $ 0.38 to buy this coin again.
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