I am looking at two possibilities here for XRP. Option A) we see a retracement to the .38 area before resuming the uptrend B) we fall through the structure and see a retest on the .28 area before the next sharp move higher.
Both options see short term weakness followed by a sharp move higher.
We can see BTC here for context, which would seem to confirm a...
Once XRP breaks 0.45 there will be the possibility for a sell off to new lows (-0.28). The next move up following this should be XRPs time to shine. If we see BTC as forming a Running Flat (see image), the C wave could create the opportunity for XRP to wash out its recent lows.
If it breaks below this small flag we could see a sell down to .29 area, confirming an Expanding Flat. We can put a sell order below the low and a Stop above the high to reduce the risk (XRP can be prone to taking off to the upside with little warning).
I see the correction as over now for BTC and its ready to go up. We see lower prices being rejected on higher volume, in a similar fashion to the previous low (see red circle). This would mean the breakout move from 3665 to 4485 was the first impulse up, and we have been correcting since. If this proves correct we can expect a possible final retest of the low...
We could see a little more down to break the 0.34817 but I think it is getting ready to go up from here. On the 4HR we see the price being supported. On the 1 HR we have high volume coming in. We look to be coming to the end of a 3 wave correction before a break to the upside. If we break out of this we could see price going to 0.43+ region. Happy trading!
We could see a little more down to break the 0.34817, but I think it is getting ready to go up from here. On the 4HR we see the price is being supported. On the 1HR we have high volume coming in. If it breaks out of this current structure we could see a move back to 0.43+. Happy trading!
I am seeing this current break out from the main downtrend as more of a correction prior to one final leg down. Here on XRP we would like to see the break of the low from 0.31 - 0.26. Following this we can start to expect an upmove that takes us back to the 0.7 - 1.10 range. Happy trading!
We have a possible running flat forming here in BTC on the 1hr. If this plays out we can expect another leg down. On the daily we have large volume coming in on a narrow candle, a bullish sign that indicates big acculuation. Following the next leg down can start to look for a reversal and buy setups.
We seem to be taking a pause before more down in the crypto space. On the daily here with XRP, we can expect some sideways action before resuming more downside. The target remains 0.27, which would mark the 270 Fib retracement from the high of the 0.76 impulse. With the 270 breached we can start looking for a buy to the upside. Happy trading!
We should have a correction here on the hourly for BTC, before more downside. The target remains; we would like to see the 5750 region get washed out to strengthen the case for a significant up move to begin. The next 24-48hrs should make for interesting trading.
We are looking at short term downside across the board for cryptos. This should lay the groundwork for the start of an impulsive upmove for the end of the year. Here with ETH we are looking could see a small correction and downside to 185 before up to break the 255 highs and beyond.