As we approach what seems to be the top of a lower degree wave B that will conform into a higher degree wave 4, we are allowed to enter into what could be a lesser degree wave C to finally finish our correction wave 4 somewhere in the 550 USD price range. Since our wave B has come up very close to wave A starting point, this allows for a very good risk/reward...
Estamos actualmente a un muy buen nivel para la finalizacion de la onda 4. La estructura en Timeframes mas chicos ya empieza a anunciar un empuje al alza para completar la onda 5. Mas de 300 pips hasta el Tp.
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Ripple has gone through a complete 8 wave cycle. Looking up to the next higher degree, this 8 waves conform into either a Waves 1 and 2 or Waves A and B. This leaves room to assume that the next movement, however it should play out, will form a wave 3 or C. This push will most definetly take prices over, or atleast on the edge, of the historic High.
This count is the only scenario we can see for a bearish continuation in price. If this turns out to be the correct scenario, we are in for quite a drop since price will be making a Head N Shoulders pattern that will most probably end in a devastating Wave C.
This wave count shows that a complete 8 wave cycle has been completed. When going to the a higher degree of wave count it shows that this 8 waves conform 2 bigger waves that could be either Wave and Wave or Wave and Wave . Being this true, it means XRPUSD will break its highs very soon and very strongly.
ETHUSD broke the top eliminating our bearish wave C scenario. The alternative scenario is a fifth Wave which should take ETHUSD to about 1600 USD level. We are indeed about to see Ethereum double in price.
B wave of the ETHUSD zig-zag formation is still running its course. We have to remember corrections take time. Once this B wave has ran its course the final bearish wave, the C wave, will take the wheel and drive the price of ethereum at or below the 500 USD point.
XRPUSD is about to finish an extended 5th wave of a possible (3)rd or (C) Wave. If it is a (C) wave this is the peak. If it results to be a (3)rd wave we will have one more rally probably taking the price to or above 2 USD.