In my last analysis I put a bunch of in place, a break of which would signal direction. As you can see from this chart, once the price broke down past that bottom trend-line it just nose dived.
There are two potential EW counts. The good news is that the first count has Wave 5 ending here, the bad news is that if the alternate count is true, were looking at 0.46-47 which is Monthly S1 as well as just above the lowest point this year at 0.459.
There are obvious Divergences right now which I have plotted in red. To be clear, the wave bottoms in price have been lower than the waves in both Fisher and .
It goes without saying that 4H is oversold.
There is worse scenario that is possible and I would be remiss if I didnt point it out here. Lets assume that that either one of these counts are correct. That would mean we would see a short count, potentially up to ~0.60, but then a wave count that would make a new low below 0.45.
VERY IMPORTANT - LOI took a major nose dive over the last two 4H bars. Also, LOI 50 and 100 are turning down and are about to cross down. Price failed to follow LOI, but I figure its important I point it out here.
As always, this is my personal observation and analysis of the market and is not intended to be trading advice.
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For the rest of you reading this, I always appreciate feedback like this, especially charts that validate the analysis, because honestly... were all guessing here, educated guesses, but still... guesses.
I have watched BTC dive and XRP only loose 0.01. I cant provide insight to XRP based on BTC data, it just doesn't work like that.