I also remember again that the market right is hard for suddenly bull and break up because Bitcoin is weaker than ever. All market are depend on Bitcoin.
Clearly everyone see XRP pump from 0.38x to 0.44x in Bittrex in just 1 day and lot of people think this is first wave of Elliot. I am sure about that but ore reasonable if we think it is a bounce wave after panic sell of XRP when RSI going down to over sold in several day ago.
What about now? Do you see the important zone in 0.44x - 0.47x ? It is very strong resistance. How can XRP can break up it? Simply it need several very good news that others crypto do not have or Bitcoin suddenly pump. If we do not have one of two so it is hard for XRP break up this zone.
Look at some criteria about indicator in the chart.
First consider about 3 WMA 14 49 and 105. WMA 14 is under WMA 49 and 105 show downtrend also active. In next several candle, the WMA 49 and WMA 105 will come down and make the resistance in 0.44x - 0.47x more stronger.
Second, Ichimoku establish a very big red cloud zone so in short term is very difficult for break up.
Third, look at VPVR ; it will show for us that the which level of price has lot of people buy and sell. The zone 0.44x - 0.47x also has big volume mean it is key zone.
Next consider about DMI 4c we have several red column mean the downtrend is active and we have lower red column mean the downtrend is weaker in recent time but also want to drop more. ADX is upper 20 so the downtrend is strong.
Importantly, RSI has been broken the downtrend after occur double bottom so it may a uptrend signal for short term before dropping again.
lt reveal about Pivot Point, we have nice bounce from S2 to S1 and the price can not break up S1 in order to reach P line.
Last but not least is TD - Sequential how for us that we are in 5th bullish candle it mean we can over bullish in here or have more 4 bullish candles to pump to 0.44x - 0.47x.
Conclusion: Look at watch for confirm for XRP if it can break up 0.44x - 0.47x so you can buy. If not so we will have next terrible drop.
Agree. However I'm 100% not playing this as silly EW. The market has no volume and is just hemorrhaging along. While XRP is in a pattern of rolling over and getting .02 cent pumps during the week when btc has a little volume.
you've pretty much owned xrp calls over the last few weeks, once i caught your pattern and applied my own tools, i've been playing xrp like a fiddle.
congrats!