Look at the green support line on the chart for the current micro movement. XRP is mostly respecting that line, and it is looking like a really good support. At the time I'm posting this, the current 4-hour candle looks like it will close with a wick that touched down right on the line. But pay attention, because we're coming up on a possible pivot point as we approach the magical light red 2.618 fib circle ring, and also the light green 3.618. Both have shown strong pivot moves in the past, so we know they are "hot".
I'm not looking for a monumental move, but a bounce that respects the support line. That would be a rather nice progression. What we need is the stochastic to bottom out when the next 2 candles form, which will hopefully be red candles. Why? Because that will all but guarantee a pop when we cross one of those 2 magical fib circle rings. The stochastic is currently showing strong momentum to the down-side. If we dip below that 20% oversold boundary, and still respect the base line, look for a small to medium pop. This is nothing to really monumental, because we are on the micro-level on this look, but the most important thing about it will be the fact that the uptrend is continuing, and our ability to predict the movements will be in-tact.
The volume is settling down, and setting up a perfect opportunity for a pop that will keep us strong playing off of that base line. What I hope to see is a nice progression aaaaaaaall the way out to the light red 4.618 fib circle boundary, where we could possibly see a move to the next strong higher high. I am going to shoot a video and get more into depth with this analysis, so look for it in the next day or so. Until then, take it all with a grain of salt, because I ain't yo financial expert advisor. Have fun with it, and continue holding out for the major rally!
Carlton Flowers
The CrytpoPro
I'm not looking for a monumental move, but a bounce that respects the support line. That would be a rather nice progression. What we need is the stochastic to bottom out when the next 2 candles form, which will hopefully be red candles. Why? Because that will all but guarantee a pop when we cross one of those 2 magical fib circle rings. The stochastic is currently showing strong momentum to the down-side. If we dip below that 20% oversold boundary, and still respect the base line, look for a small to medium pop. This is nothing to really monumental, because we are on the micro-level on this look, but the most important thing about it will be the fact that the uptrend is continuing, and our ability to predict the movements will be in-tact.
The volume is settling down, and setting up a perfect opportunity for a pop that will keep us strong playing off of that base line. What I hope to see is a nice progression aaaaaaaall the way out to the light red 4.618 fib circle boundary, where we could possibly see a move to the next strong higher high. I am going to shoot a video and get more into depth with this analysis, so look for it in the next day or so. Until then, take it all with a grain of salt, because I ain't yo financial expert advisor. Have fun with it, and continue holding out for the major rally!
Carlton Flowers
The CrytpoPro