ChristiaanvanderMerwe

ChristiaanvanderMerwe

Chart Speaks for itself.

ChristiaanvanderMerwe

A lot of people are calling for a bottom of this bearish downtrend and sentiment is turning bullish (perhaps prematurely). We have had a solid bounce the past week and BTC Longs have continued to climb whilst shorts/long gap has been growing. I see XRP following a similar to pattern to it's previous dumps and 4hr MACD has crossed bearish. I am currently in no...

ChristiaanvanderMerwe

Looks like a possible in a 4th wave, which I will be taking profits around ~$6,500 mark. Then the final 5th wave down to a the ~5k mark. There is support around the ~5.4 area and so the 5th wave might be extend that deep, will ladder my buys down and keep an eye on things. There is an alternate count which shows 5 waves already however I'm leaning towards this count.

ChristiaanvanderMerwe

Chart is self explanatory. This is for the bears, I am still looking for a good bullish setup, volume is somewhat lacking in my opinion to have established a 'bottom'. The Wyckoff spring is still in the back of my mind however.

ChristiaanvanderMerwe

I am currently flat and will watch as it unfolds, leaning bearish however that can change rather quickly.

ChristiaanvanderMerwe

I entered the market in early 2017 (BTC ~1,000) and have exited my positions (mostly trading ETH, XRP and OMG) at the orange ellipses. If support at ~6k does not hold I will be looking at the green ellipse support levels to re-enter the market. The only saving grace for BTC to kick off the next bull run eralier than anticipated would be the Wyckoff 'spring' at...

ChristiaanvanderMerwe

I mostly Trade the XRP/USD pairing since BTC bear market (accumulate Fiat not BTC) however for those still trading the BTC pair, if supports breaks then look for these areas for some action. The indicators such as RSI and MACD also show there is strong downwards pressure/momentum.

ChristiaanvanderMerwe

It is possible that we are now entering Phase C which means absorption is nearly complete. Smart money Composite Operators ‘Test’ the stock to determine if it is poised to begin its Markup Phase. The Test is to determine if the Supply has been exhausted and this is done by removing bids at Support and allowing the stock to breach the lows. A breakdown here is a...

ChristiaanvanderMerwe

I spent the majority of 2017 accumulating XRP and have attempted to do the same in 2018 despite BTC breaking the parabolic advance which has been ongoing since late 2015. XRP is moving sideways for now however the breakout direction will determine if we are forming a larger falling wedge (yellow) or a pennant (pink) similar to 2017. I most likely exit my...

ChristiaanvanderMerwe

Some sideways action on XRP. The direction of breakout will determine if we have been in an accumulation phase or distribution. The breakout direction will also confirm whether a falling wedge or pennant is more likely to form.