Yesterday I predicted that we were at the end of the correction wave. Unfortunately it was 3 hours earlier than I had plotted, and 0.0012 above the bottom. This strong push up, that equals 2/3 of the last series, means that this next series is going to go higher than earlier expected. Right now the bottom of this correction wave seems to be in place at the 0.382...
The resistance target I presented in my last analysis proved accurate at 0.38 with price hitting 0.376 on Bitstamp before the retrace. The correction has been pretty deep, but EW theory suggests that it is not uncommon for Wave 2 of the higher degree to retrace well beyond the normal 0.382 fib. In this case it has retraced to the 0.764 retrace of the higher...
The market as a whole has seen a significant push up with Bitcoin at levels not seen since since the two week dive from 6500 to under 4000 in November, and while Ripple has not seen the same percentage gain that others have, it has gained nearly 20% in a two days. This all seems very bullish but there are a couple of limiting factors coming up. If we look at the...
Just a quick update.... The lower trend-ine of the symmetrical triangle is being tested at this moment. Watching this live there appears to be some momentum, but it could also just be a bear trap. That said, all the other major cryptos are also down for the day. If I wasn't already in at 0.31, I would be jumping in here.
I haven't posted a chart in a while now as there is no trend, and my particular analysis style requires a trend. That said, the last 4hr bar rebounded right off the trend-trend line I have been watching for a while now so I thought I would point out this Triangle formation because both sides of it have been confirmed multiple times. A break of either side should...
0.34 was breached and Wave 5 completed at the Mid Pivot points I called for a couple hours ago at 0.32. Look for a retrace to 0.35. This will most likely turn into Wave 2 of the higher degree wave which means we are looking at 0.28 target test.
A breakout occured of the bearish trendline, followed by a sharp pullback that then broke the weaker bullish trend-line. The 4H RSI also broke down past the supporting trend-line. Altogether this would seem to indicate bad news for the HODLers out there, including me. That said, lets look at this closer. The price has yet to break below the low of 12/27 at...
EW Count is somewhere way beyond my experience. This two week sideways direction has turned the count into a mush of uncertainty. It does seem evident to me that the plotted bearish trendline, which has now provided resistance four times over the last two weeks, will be a very solid indicator of when/if the Bulls take control again. I pulled out the view for a...
The EW count is, well... not countable right now imho. On one hand we should be in Wave 4 of a bullish series, but this deep retrace of Wave 3 is highly abnormal. The smaller dashed line (red) I plotted yesterday is proving to be a solid support area as it has been tested twice over the last 24 hours. A break and close below this would be a bearish signal. A break...
Maybe those of us who believe in Ripple are not well loved by Santa... but push on as we must because there is no longer an alternative. Wave 3 only hit the 1.0 fib ext of Wave 1, getting blocked by the Monthly HA Pivot. Wave 4, as it is, has retraced most of Wave 3. This is not normal and in fact, since Wave 2 was a complex wave Wave 4 should have been a simple...
The underlying structure of Wave 2, a correction Wave of the Minor series (yellow), has changed. We could still be looking at a simple ABC formation, expected with Wave 2 typically, or a more complex triangle wave (see the offset pattern on chart in orange). As long as the red trend-line that has supported wave 2 and 4 of the Minute series (orange) holds were...
My target of .39 was reached this morning and we appear to have completed an ABC correction of the Minor Wave (yellow) with the underlying structure of the Minuette Wave (orange) at 0.35. Its possible this could turn into a complex wave still at this point, but this is the expected retrace point of 0.382 fib I called this morning. A break below the trendline...
The target I set for 0.39 just got hit. The push up yesterday increased the possible target for Wave 5 of this Minute Wave with the 1.0 fib ext sitting at 0.415. Ripple has a hard time with its Wave 5's, rarely actually hitting that 1.0 fib ext, oftent stalling at 0.786 or even 0.50. However, with the Monthly Pivot sitting at 0.41, and the HA Monthly Pivot at...
While it appeared a new series was starting to the downside after the break down of the triangle on Friday, I held onto my position even in face of the slew of messages I got that I should get out and re-enter at 0.20-0.24. My reasoning was simple, the daily chart didnt have a whole lot of room to move down and I still see a retrace to the 0.39-0.40 area before it...
Like all of you, I have been watching the chart intently for the last 6 days, waiting for some indication of the next impulse wave. At the moment, the 4H RSI just broke down past a supporting trend-line, and with the rest of the market falling faster than Ripple currently, all indications point downward. There is hope though.. there is still space left within...
Its been a while since I last posted a chart. The continued decline consistently defied my analysis, so I decided I would wait to post another chart until I dumped some more cash into it, which I have at $0.31. Originally I was looking for $0.25 as that would have been the 0.618 extension from the previous 3-4 wave... but it appears to have stopped at the 0.50...
We are now in Wave 5, and as I write this, maybe the end of Wave 5 and the higher degree wave. This is a very cluttered chart, so let me go through a few things. There are a bunch of yellow lines that I usually dont have on my charts. These represent support/resistance areas in the past. The thicker the line, the farther back it goes. The solid ones represent...
After a complex correction wave, held down by the descending trend-line from 9/1, Wave 3 shoots through the Monthly Pivot and the grouping of resistance at the 0.35-6 level. This is a very bullish in my opinion. This should set Wave 3 up for a 1.272 extension ending around 0.39-40 at which point is also the (P+R1)/2 line in addition to the HA Monthly Pivot....