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we completed all targets on previous upward wave. now price formed a head and shoulders pattern, which means we can take a short position.
we can take a short position either now or wait for the confirmation (breakout of the head and shoulders)
Please follow the Trading View profile to support my...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
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Still not recommend you to take any actions on XRP. Keep in mind the rising wedge
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Not a Financial Advice
Regulatory clarity will be the first major announcement. This will open the gates to many institutions that are waiting on the sidelines. We could easily see the market cap grow by a few trillion $ within weeks. Next step will be UN/IMF/Fed throwing their weight behind XRP
It must be supported by the uptrend line (1).
There should be no further decline.
The key point at the current location is 0.25355.
Around April 5th (4th-6th), the long-term downtrend line (2) will cross the 0.25355 point.
Before this, you need to make sure you can rise above the 0.25355 point.
If it rises, it is expected to become a new vitality in the coin...
What we are seeing here with Ripple is the infrequent situation where b-wave fails to retrace more than 78.6% of wave -a and the c-wave fails to retrace all of wave -b.
This pattern will resemble a horizontal triangle because of the continual exhibition of contraction.
Every day we present the Elliot wave method, The First Scientific, Objective Approach to...
XRPUSD is currently on very interesting level.
Yesterday's dump dragged XRP towards 0.16700-600 levels, which is previous resistance and now support
of big consolidation box.
This level also holding supportive trendline, which is also very important.
If it breaks these levels down below, longs are invalid and i will not be looking for long opportunities...
Fundamentally, it will go if Bitcoin drives the growth.
WHAT IS TRICKY WITH THE STRUCTURES WE OBSERVE WITH SEVERAL KEY COINS, IS THAT PRICE MOVES UP ON HOURLY CHARTS WITH OVERLAPS.
THIS MAY BREAK INTO TO BULLISH OPTIONS:
1) A LEADIND DIAGONAL (FOLLOWED BY A CORRECTION, WILL DELIVER A NEXT BULLISH STRONG WAVE)
2) A SET OF FIRST WAVES OF DIFFERENT SCALE, THAT WILL...
This count is a continuation of a long-term count that I've been watching.
If price is currently digesting a wave 4, then expect wave 5 to create a new low with target provided! The market has options, and always decides, we are here to follow along and discern where it's going!
Stay safe! Cheers!
The picture says enough. I am expecting a bullish breakout, although a bearish breakout is possible as well, watch the charts carefully and be prepared to long or short depending on the direction of the breakout. This is no financial advice, trade at your own risk.