Exsilium

$XRP - Bullish EW Impulse Series Faltering

BITSTAMP:XRPUSD   XRP / U.S. Dollar
Maybe those of us who believe in Ripple are not well loved by Santa... but push on as we must because there is no longer an alternative.

Wave 3 only hit the 1.0 fib ext of Wave 1, getting blocked by the Monthly HA Pivot . Wave 4, as it is, has retraced most of Wave 3. This is not normal and in fact, since Wave 2 was a complex wave Wave 4 should have been a simple wave. Instead, there are serious indications that we might be resuming the downward trend. At this point, even if Wave 5 did make a new high it would be limited by a number of technical restrictions and we would be better off just restarting the count here.

BEWARE! It is entirely possible that right now you are seeing the start of Wave 3 in a new bearish impulse wave, with Wave 5 ending below 0.30.

I break below 0.34167 should confirm that the bearish trend has resumed. The failure of the bearish impulse series spells impending doom.

Keep faith as we have printed a double bottom and this series, assuming a new bearish series, would end up printing a 3rd test of the bottom with the current math.

For the record, I am still holding from 0.31.
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