Wave 5 has most likely been established at 0.245. That is the 1.0 fib of Wave 4, and is right above the Monthly S4 Pivot Point.
Assuming that Wave 5 is complete, this correction wave should retrace to between the 0.382 and 0.5 fibs at 0.319 and 0.341 respectively. If this correction wave is a typical ABC, expect 0.32 -> 0.26 -> 0.34 formation, then a leg down to 0.21.
There are bullish divergences on the 4H chart, both on the Fisher indicator as well as the RSI indicator. This also indicates Wave 5 is complete.
If the price pushes to a new low, extending Wave 5, I expect we will see 0.20-0.21. This lines up with both the Monthly (S4+25)/2 PP, and the Monthly HA(S2+S3)/2 PP. However, this would leave Wave 3 the shortest in the series would would invalidate the count altogether.
History teaches us that when the masses all agree on one direction or another is the moment at which the direction changes. I find myself in a capitulation moment here (no, im not liquidating) from a bias point of view.
That said, the daily indicators across the board are in bear territories not seen in the entire existence of XRP. The D Fisher is in an area I mark for for-sure buy points, and the D RSI is sitting at 19, the.lowest.point.ever.
I am looking to try and capitalize here to get in a little lower, but I fully expect a major rebound soon... ish.
Assuming that Wave 5 is complete, this correction wave should retrace to between the 0.382 and 0.5 fibs at 0.319 and 0.341 respectively. If this correction wave is a typical ABC, expect 0.32 -> 0.26 -> 0.34 formation, then a leg down to 0.21.
There are bullish divergences on the 4H chart, both on the Fisher indicator as well as the RSI indicator. This also indicates Wave 5 is complete.
If the price pushes to a new low, extending Wave 5, I expect we will see 0.20-0.21. This lines up with both the Monthly (S4+25)/2 PP, and the Monthly HA(S2+S3)/2 PP. However, this would leave Wave 3 the shortest in the series would would invalidate the count altogether.
History teaches us that when the masses all agree on one direction or another is the moment at which the direction changes. I find myself in a capitulation moment here (no, im not liquidating) from a bias point of view.
That said, the daily indicators across the board are in bear territories not seen in the entire existence of XRP. The D Fisher is in an area I mark for for-sure buy points, and the D RSI is sitting at 19, the.lowest.point.ever.
I am looking to try and capitalize here to get in a little lower, but I fully expect a major rebound soon... ish.
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Looks like were on Wave C of the correction wave.
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Wave C is starting to falter, potentially forming a Flat ABC correction. I am watching closely here looking for an exit to buy in lower.
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Target area has been reached. I will start to look for an exit here.
This risk exiting here is that this ABC turns into a 12345 and this is the reversal point back to .45 or higher.
This risk exiting here is that this ABC turns into a 12345 and this is the reversal point back to .45 or higher.
