Hi again,
Another #Crypto analysis, and not an easy one to follow actually. Maybe it seems so and i had my good profits with this one but to be honest, now i have my doubts at this very moment. Last year i decipher the fractal that was being used, or at least it was going in cycles every time.
The last uptrend changed all the rules some how because the fractal it is completely different. It is kind of inverted and that made me think (a couple of hours actually) on the theory that it may fall. Do not take me wrong, because there's a lot of signs that indicate that price could go up like hell, but i've learned in my short life as a Charter, that before the high, the low it's present almost every time.
With XRP, it's starting to happen what it did with #btc. The lows where almost at the same price. It could not rise again until the crash of last year. Besides, as a trader as in life, i have learned that its wise to be prepare for the worst and at the same time to have the doubt of thinking on almost everything. And when you are not completely secure on something, it is better to act cautiously.
At the same time, there are good signs as #XRPBTC pair which is at the deep and possible end of cycle. So, if #btc is going down, lot of people will migrate to altoins to start the cycle time for this coins. So, i suppose we should be alert on that.
Whatever it is about to happen, is important, but something is about to happen.
So, this is just the presentation of the study by now. After publishing this ill upload the detailed study for a better understanding.
Hope you enjoy it and you find it helpful and as usual and as a reminder, everything ill post are just personal ideas and not investments advise! Use as your own risk.
Cheers!
Charter X
Another #Crypto analysis, and not an easy one to follow actually. Maybe it seems so and i had my good profits with this one but to be honest, now i have my doubts at this very moment. Last year i decipher the fractal that was being used, or at least it was going in cycles every time.
The last uptrend changed all the rules some how because the fractal it is completely different. It is kind of inverted and that made me think (a couple of hours actually) on the theory that it may fall. Do not take me wrong, because there's a lot of signs that indicate that price could go up like hell, but i've learned in my short life as a Charter, that before the high, the low it's present almost every time.
With XRP, it's starting to happen what it did with #btc. The lows where almost at the same price. It could not rise again until the crash of last year. Besides, as a trader as in life, i have learned that its wise to be prepare for the worst and at the same time to have the doubt of thinking on almost everything. And when you are not completely secure on something, it is better to act cautiously.
At the same time, there are good signs as #XRPBTC pair which is at the deep and possible end of cycle. So, if #btc is going down, lot of people will migrate to altoins to start the cycle time for this coins. So, i suppose we should be alert on that.
Whatever it is about to happen, is important, but something is about to happen.
So, this is just the presentation of the study by now. After publishing this ill upload the detailed study for a better understanding.
Hope you enjoy it and you find it helpful and as usual and as a reminder, everything ill post are just personal ideas and not investments advise! Use as your own risk.
Cheers!
Charter X
Right now we can see that we are moving in a downtrend channel.
Until that channel marked in red is broken, things may keep falling. At a daily chart, right now i don't see a chuvashov with main significance. Acutally i have marked as usual in pink but in a major time frame:
People thought that it was already broken but, this is why i believe it may be doing the same that bitcoin did last november.
Ill put it in the Euro Version but just as a representation, we all know is almost the same descending triangle we saw on #btc, besides, the chuvashov fork needs to gow all the way down until it's copmleted:
So again, if price breaks that support line marked at .28 euros, we all know whats next.
In the case of USD, the volume is going against price. And according to one of the laws of Wyckoff, Price vs Volume, The volume is going up but the price is going down, which indicates a bad sign to enter a long position.
Let's keep going deep.
I always like to analyze RSI in deep as well, cause it gives a good chance to know what's going on. I even draw channels, chuvashov fork, and even Wyckoff stages sometimes cause at the end, it is reflected well in this indicator. It's not entirely save (nothing it's 100% for sure), but it helps out a lot.
Something i've notice with this analysis is that it is a relation with price but not entirely exact. you may see it if you analyze in some specific points in time like the bull run of 2017. The higher stage of RSI did not match the highest price range.
Just Wanted to mention that cause i find it interesting. You will find a lot of this kind of reactions among time.
I decipher this pattern some time ago on the RSI but a few hours ago came to me the idea of a mirror because of that huge breach marked and signed. So again, is just my idea but you never know. By now, the only thing it keeps me as and advice is the point were the orange line and the green doted line find each other. if that point is broken, then i hope you had a automatic buy real in the deep. i always have one of those just in case with like 20% or 40% of my budget.
So see it and judge by yourself:
And now... i give you the RSI Mirror Indicator. Really like this one too :P
There's a point were the red and green channels start to find themselves in time. Usually this means that something drastic is about to happen. In this channel i usually mark in dotted lines just the pikes in any direction. The straight lines are marking the "stable" zone or secure zone if you want.
On the other hand, we have the XRPBTC pair.
If we take a good look, we are almost at the bottom. The fractal repeats but in longer time frame, which make one easily get confused in some points, cause the fractal start to be like an accordion. it is similar but personaly i have my doubts on point from 3 to 5 in the present fractal. I'm not entirely sure if we already hit the bottom or there is one more and the final fall. In any case, until the chuvashov fork line is not broken, we will keep going downward.
Ok, so, that's all for now. Always enjoy sharing this ideas, an hope you find it interesting and helpful on your trades. Ill try to keep updating every time i can.
Cheers and have a nice trading ;)
Charter X