XRPUSDT: It looks like history repeats itself! (almost)
In May 2017 like today, XRPUSDT clearly shows a falling wedge (reversal) on the 4H chart.
The question that everyone is looking for is: "when the price will break out?"
*****************Same Falling wedge pattern, different distortion and direction****************************
Following the previous pattern from May 2017 until December 2017, we can see that a falling wedge (reversal) was formed and broke out following 4 cycles that I have colored and numbered from 1 to 4.
In green (1), were the falling wedge was formed in May 2017, we can see a rise then a plummeting followed by a rise and a side move with 3 small bumps .
Today in March 2018, we can see a similar move but the difference is in the time scale: way faster due to the increase level of liquidity and distortion, indeed the correction from the % increase in 2018 is stronger than in May 2017 . As a result, today the 3 small bumps are very close from each other and the correction from the top is even stronger.
In Pink (2), in May 2017 we can see an inverted H&S that is similar in 2018 but with no side move and almost a bump right away.
In Red (3), in May 2017 XRP moved aside like in 2018, then bumped and collapsed with the same pattern. Please have a specific look on colored marks next to the curves.
In Blue (4), at the final stage of the Apex, we can see a couple of failed H&S where XRP moved aside to break at the 80% distance of the triangle.
Should we expect the same pattern today? In that case, XRP could reach the bottom of $0.40/45 and would break at the beginning of May as I have planned it at the beginning of February :-)
Please, share your comments!
The question that everyone is looking for is: "when the price will break out?"
*****************Same Falling wedge pattern, different distortion and direction****************************
Following the previous pattern from May 2017 until December 2017, we can see that a falling wedge (reversal) was formed and broke out following 4 cycles that I have colored and numbered from 1 to 4.
In green (1), were the falling wedge was formed in May 2017, we can see a rise then a plummeting followed by a rise and a side move with 3 small bumps .
Today in March 2018, we can see a similar move but the difference is in the time scale: way faster due to the increase level of liquidity and distortion, indeed the correction from the % increase in 2018 is stronger than in May 2017 . As a result, today the 3 small bumps are very close from each other and the correction from the top is even stronger.
In Pink (2), in May 2017 we can see an inverted H&S that is similar in 2018 but with no side move and almost a bump right away.
In Red (3), in May 2017 XRP moved aside like in 2018, then bumped and collapsed with the same pattern. Please have a specific look on colored marks next to the curves.
In Blue (4), at the final stage of the Apex, we can see a couple of failed H&S where XRP moved aside to break at the 80% distance of the triangle.
Should we expect the same pattern today? In that case, XRP could reach the bottom of $0.40/45 and would break at the beginning of May as I have planned it at the beginning of February :-)
Please, share your comments!
Comment:
Correction: We would break at the beginning of April!
Comment:
XRP: Successive H&S are failing and then XRP is moving up. It looks very bullish!!!!
tradingview.com/x/CDbzRCbr/
tradingview.com/x/CDbzRCbr/
Comment:
Looking at the RSI (circled in blue) and seeing its lowest level for months. It means that XRP is over-bought and this area will not last very long.
Indeed, the number of sellers decreases (bottom curve in purple) vis-à-vis the number of buyers. When there is no more seller, the market becomes scarce. This creates a new upward momentum.
This analysis is confirmed by the triangular shape (at the top of the image) and the fractals pointing at a 60-degree angle down.
In other words, the last fractal could be finished in a few days or even at the end of the month. Also, your risk / profit here is very low. You could enter into the market now and maybe make very big profits.
The resistance level is at $ 0.52 and the support is at $ 0.45.
In other words, if XRP fails to exceed $0.52 by Wednesday, XRP will test support at $0.45. This one will be broken to reach a channel at $0.30. This price may be very short, it will be a strong buy signal on the markets.
If XRP exceeds $0.52, a new support at $0.60 will be put to the test. If it is conclusive, it will confirm the end of the bearish period.
Target for 2018:
Minimum price: $8
Maximum price: $175
Please, do your own due diligence. I am not a trading advisor. I am not responsible for your profits and losses. This is my opinion.
Looking at the RSI (circled in blue) and seeing its lowest level for months. It means that XRP is over-bought and this area will not last very long.
Indeed, the number of sellers decreases (bottom curve in purple) vis-à-vis the number of buyers. When there is no more seller, the market becomes scarce. This creates a new upward momentum.
This analysis is confirmed by the triangular shape (at the top of the image) and the fractals pointing at a 60-degree angle down.
In other words, the last fractal could be finished in a few days or even at the end of the month. Also, your risk / profit here is very low. You could enter into the market now and maybe make very big profits.
The resistance level is at $ 0.52 and the support is at $ 0.45.
In other words, if XRP fails to exceed $0.52 by Wednesday, XRP will test support at $0.45. This one will be broken to reach a channel at $0.30. This price may be very short, it will be a strong buy signal on the markets.
If XRP exceeds $0.52, a new support at $0.60 will be put to the test. If it is conclusive, it will confirm the end of the bearish period.
Target for 2018:
Minimum price: $8
Maximum price: $175
Please, do your own due diligence. I am not a trading advisor. I am not responsible for your profits and losses. This is my opinion.
Order cancelled
Order cancelled:
Sorry for my ignorance at this stage - I was very new in technical analysis.