I did not want to let the cat out of the bag early, because I was not sure of the new magical dark purple fib circle I constructed last week based on the time period from August 5th to August 29th, 2019. But it's safe to say that it was dead-on, coinciding with today's breakout. The XRP price line came into contact with the 2.618 line of this new set, and it crawled all the way up the line, passing into quadrant 1 of the circle (see my YouTube videos for an explanation of my fib circle quadrant directional breakout theory) before moving off the line. What does this possibly mean?
I think this means that my previous report about XRP reaching the bottom could be correct. This coincides with the evidence shown by the slightly upward-trending low points on the price line since August the 28th. But back to the breakout... When the price line hung in there past the horizontal line of demarcation between quadrant 1 and quadrant 2 of the circle, this gives me an indication that we are in bullish territory now. The next gravitational fib circle boundary is the Big Red 4.236. We could fall as price propagates forward through time, until we hit that line. When it meets the Big Red 4.236, I think it will do the same thing as what we saw today, where it crawls up that line or acts as a base of support.
If this theory holds true, the dark purple 3.618 will be the line to watch. Where we cross that line will determine if it is time for the bull run or not. I would love to see price spikes just like what we saw today, when we hit the next purple line. Past performance is not always indicative of future results, but when we see the magic happen on multiple occasions with a particular fib circle set, we know it has a high probability of sparking major movements as we jump out to the remaining rings.
The biggest and most exciting part of this breakout is the fact that Big Brother BTC is continuing its bearish trend while alts are experiencing fantastic gains. Looking at the board, I'm seeing positive movements from between 2% and 10% for some of the top alt coin projects. We have not seen this happen for AGES. Since spring, it has been the same story of "BTC breaks upward, alts dive. BTC breaks downward, alts dive". Today marks the first date that the alts step out on their own, posting gains despite the action with BTC. This is too early to call, but it sure looks to me like evidence that we will have an "alt season" after all.
I will be posting a full YouTube video on my CryptoPro channel in the next 24 to 48 hours to go more in depth on the XRP action. My next Tradingview update will have a link for you to jump to the video once I've got it uploaded!
Not trading advice. Just enjoying the excitement that we have all been waiting for, and reporting my opinions!
Carlton Flowers
The CryptoPro
I think this means that my previous report about XRP reaching the bottom could be correct. This coincides with the evidence shown by the slightly upward-trending low points on the price line since August the 28th. But back to the breakout... When the price line hung in there past the horizontal line of demarcation between quadrant 1 and quadrant 2 of the circle, this gives me an indication that we are in bullish territory now. The next gravitational fib circle boundary is the Big Red 4.236. We could fall as price propagates forward through time, until we hit that line. When it meets the Big Red 4.236, I think it will do the same thing as what we saw today, where it crawls up that line or acts as a base of support.
If this theory holds true, the dark purple 3.618 will be the line to watch. Where we cross that line will determine if it is time for the bull run or not. I would love to see price spikes just like what we saw today, when we hit the next purple line. Past performance is not always indicative of future results, but when we see the magic happen on multiple occasions with a particular fib circle set, we know it has a high probability of sparking major movements as we jump out to the remaining rings.
The biggest and most exciting part of this breakout is the fact that Big Brother BTC is continuing its bearish trend while alts are experiencing fantastic gains. Looking at the board, I'm seeing positive movements from between 2% and 10% for some of the top alt coin projects. We have not seen this happen for AGES. Since spring, it has been the same story of "BTC breaks upward, alts dive. BTC breaks downward, alts dive". Today marks the first date that the alts step out on their own, posting gains despite the action with BTC. This is too early to call, but it sure looks to me like evidence that we will have an "alt season" after all.
I will be posting a full YouTube video on my CryptoPro channel in the next 24 to 48 hours to go more in depth on the XRP action. My next Tradingview update will have a link for you to jump to the video once I've got it uploaded!
Not trading advice. Just enjoying the excitement that we have all been waiting for, and reporting my opinions!
Carlton Flowers
The CryptoPro