Hey everyone.. As whole crypto market continues to bleed out, I wanted to look at macro view again..
Pitchfork that once held is now taken out and we should look where price might land in coming quarters..
I got 2 targets on my radar.. $0.127 & $0.08..
Before judging this idea, push away your emotions and have a look at MACD indicator.. As you can see, we're about to end 2nd consecutive month when selling momentum is increasing.. Unless we see very huge upside in coming 3-4 days (very unlikely) - 1Q of 2020 could be very negative for xrp hodlers and whole crypto market overall.
I'm not saying little push towards $0.20-$0.24 isn't possible, but 1Q 2020 overall should either be flat or end with quite large % loss.
Take into consideration these two trendlines.. If we're to go parabolic once again, at least one of them should be met..
I compared a lot of charts using Elliott wave side by side, it should not reach recent top at $0.03.. Buying at $0.126 could be very good opportunity considering potential upside and R/R on this investment..
Now to decide which target is right and where is the bottom - isn't easy.. Follow btc as index, smaller tf momentum, look for HH and HLs before investing big.. Until then, we just patiently wait.
Let me know in the comments what you think.. This is not a financial advise. Hope y'all having great time and enjoying the Holidays!!
Pitchfork that once held is now taken out and we should look where price might land in coming quarters..
I got 2 targets on my radar.. $0.127 & $0.08..
Before judging this idea, push away your emotions and have a look at MACD indicator.. As you can see, we're about to end 2nd consecutive month when selling momentum is increasing.. Unless we see very huge upside in coming 3-4 days (very unlikely) - 1Q of 2020 could be very negative for xrp hodlers and whole crypto market overall.
I'm not saying little push towards $0.20-$0.24 isn't possible, but 1Q 2020 overall should either be flat or end with quite large % loss.
Take into consideration these two trendlines.. If we're to go parabolic once again, at least one of them should be met..
I compared a lot of charts using Elliott wave side by side, it should not reach recent top at $0.03.. Buying at $0.126 could be very good opportunity considering potential upside and R/R on this investment..
Now to decide which target is right and where is the bottom - isn't easy.. Follow btc as index, smaller tf momentum, look for HH and HLs before investing big.. Until then, we just patiently wait.
Let me know in the comments what you think.. This is not a financial advise. Hope y'all having great time and enjoying the Holidays!!