The violation of 0.45 was a difficult thing to digest and we are in this difficult to plot no-mans land. The general consensus is that BTC will rise to above 7000, potentially to 7700. If we correlate this to XRP we would see 0.55-56. This lines up with the potential impulse wave plotted in green. This could finish the correction wave of the higher degree (not plotted), and line us up for a impulse wave down, targeting below 0.42.
Because we have been in a bearish market, I have to assume we are now in a correction wave. A typical correction wave, ABC, is a 3-3-3 structure, which could culminate with Wave 3, which is also right around the Monthly Pivot at 0.53.
I am actually sending more cash to my account, so I hope it goes lower honestly, but hopefully it doesnt shoot up into a new bullish move before the wire transfer completes :)
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As always, this is my personal observation and analysis of the market and is not intended to be trading advice. I can be, and have been, completely wrong in my analysis. I am not trying to identify a trend; a 5 year old can do that. I am trying to maximize XRP holdings by catching the waves as soon as possible. So, while anyone that identifies a trend can be right 100% of the time, finding those tops and bottoms is difficult and prone to error, but by and large I can increase my XRP holdings steadily.
Because we have been in a bearish market, I have to assume we are now in a correction wave. A typical correction wave, ABC, is a 3-3-3 structure, which could culminate with Wave 3, which is also right around the Monthly Pivot at 0.53.
I am actually sending more cash to my account, so I hope it goes lower honestly, but hopefully it doesnt shoot up into a new bullish move before the wire transfer completes :)
===========
As always, this is my personal observation and analysis of the market and is not intended to be trading advice. I can be, and have been, completely wrong in my analysis. I am not trying to identify a trend; a 5 year old can do that. I am trying to maximize XRP holdings by catching the waves as soon as possible. So, while anyone that identifies a trend can be right 100% of the time, finding those tops and bottoms is difficult and prone to error, but by and large I can increase my XRP holdings steadily.
