Guys and gals, I never would have guessed that I would be writing this post today reporting the fact that the price candles have hit the Big Red 3.618 magical fib circle boundary line. I thought we had a "chance" of a slight angle of ascent until we reached the next purple line, but XRP had something else in mind. The last time we crossed the Big Red 3.618 was on September 5th, at the bottom of the circle. XRP and Big Red 3.618 must have a very special relationship, because this thing just got pulled back up to that line like the Star Trek Enterprise had a tractor beam on it.
It's time to grab the popcorn and watch the show. I am fully alert, and won't be missing out on any of the new movements. I really think this could be the beginning of the action we have been waiting for. We must be on the brink of a strong alt season, because the alts are showing impressive gains again across the board while BTC piddled around the $10,100 to $10,200 area. Looking back on the XRP chart, we haven't seen volume like this since the nose dive on August 14th. And the pump that happened on August 18th does not appear to be as strong as what we're looking at today. But before I get TOO excited, I've got to realize that this is nothing compared to the May 14th volume spike. If this is the beginning of some significant long-term moves upward, we are going to have to see much heavier green bar volume than this.
What's next? There are a couple of possibilities. We could crawl up the Big Red 3.618 until we hit the purple 3.618 line. Or, we could pivot right now and start heading back down towards the Big Red 4.236 line or purple 3.618. This pump could continue for a bit longer, but we know the May 13th spike had a lot more volume behind it. I'm good with a correction at this point, because I'm excited to finally see a significant move on the micro level happen that goes contrary to the downtrend. I'm sticking with my opinion that the bottom is in, and we're moving into a bullish trend from here.
Be careful out there, and don't make any rash decisions. I might be buying again soon, but definitely not giving financial advice to anyone else to do the same.
Carlton Flowers
The CryptoPro
It's time to grab the popcorn and watch the show. I am fully alert, and won't be missing out on any of the new movements. I really think this could be the beginning of the action we have been waiting for. We must be on the brink of a strong alt season, because the alts are showing impressive gains again across the board while BTC piddled around the $10,100 to $10,200 area. Looking back on the XRP chart, we haven't seen volume like this since the nose dive on August 14th. And the pump that happened on August 18th does not appear to be as strong as what we're looking at today. But before I get TOO excited, I've got to realize that this is nothing compared to the May 14th volume spike. If this is the beginning of some significant long-term moves upward, we are going to have to see much heavier green bar volume than this.
What's next? There are a couple of possibilities. We could crawl up the Big Red 3.618 until we hit the purple 3.618 line. Or, we could pivot right now and start heading back down towards the Big Red 4.236 line or purple 3.618. This pump could continue for a bit longer, but we know the May 13th spike had a lot more volume behind it. I'm good with a correction at this point, because I'm excited to finally see a significant move on the micro level happen that goes contrary to the downtrend. I'm sticking with my opinion that the bottom is in, and we're moving into a bullish trend from here.
Be careful out there, and don't make any rash decisions. I might be buying again soon, but definitely not giving financial advice to anyone else to do the same.
Carlton Flowers
The CryptoPro