We FINALLY have something to talk about after a nice little period of boring side-banding! As we know, XRP is still in lock-step with BTC, and it has mirrored its recent pump. The action right now is happening along the Gray 4.618 fib circle boundary, and it is VERY CLEAR that this is a "hot" line. Since XRP landed on this line, it's been bounding up the curve...
This action is too good NOT to discuss, but I will keep it short. I think the party is about to end on this mini-pump. I've been waiting for a return to the top of the trading channel for quite some time, and here we have it. From the looks of it, there could be a double pump move where we hit the top of the parallel trading channel right where the new Light...
I tried publishing an update two days ago, and it mysteriously disappeared! But it worked out well, because we have even more data now that sheds light on the two possible scenarios that I'll lay out on this update. Do you notice how the price line is crawling up the Gray 3.618 fib circle ring, just like it did above on the 2.618? This set of rings is definitely...
I've been quite for several days, trying to avoid speaking on this before the evidence was solid enough. But now we don't need evidence to see what has happened. The priceline has been snatched right back down within the limits of the previous bearish trading channel on the micro level. Look at the previous action on the Gray 2.618 fib circle boundary. XRP was...
Short update! Notice the price dive right after the XRP price line crossed over the magical Gray 2.618 fib circle boundary. Look out below, because there is nothing beneath that fib circle ring that would give me any indication of a reversal IF the price goes any further away from the 2.618. To play this safe, brace yourself for 0.18 which is roughly where the...
The XRP price has closed a full candle below the bottom of the parallel trading channel. The previous point that it poked through the bottom was just a wick. So this is significant. While this downward movement gains momentum, notice that the stochastic is just at 25%. That's low, but we are clearly not in oversold territory. That means there could be more...
Okay gang I haven't posted an XRP update for quite a while now. There just hasn't been anything ground breaking or earth shattering to talk about that isn't plainly obvious. But the downward momentum that we are seeing right now, combined with the Bitcoin dump, is significant enough that we can start talking about low points. Being that we are still in the same...
Quick update, I wanted to point out how the Bitcoin candles took a strong bounce off of the Big Red 4.618 fib circle boundary that we have enjoyed for many previous magical moments. A couple of days ago, BTC took a straight nose dive when it hit the 4.236 line above, so it doesn't surprise me to see a bounce and brief recovery here on the 4.618. Here's what I'm...
I have kept my mouth shut about this because I dare not influence someone to make a losing trading decision based on my opinion. SO, I am rather reporting the news as it happens, and keeping my eyes peeled for clues on the immediate forecast. RIGHT NOW, Bitcoin is touching down on the known magical Big Red 4.236 fib circle boundary that has brought us so many...
I realize that most everyone is talking about a market reversal right now, and several credible prognosticators have made the claim that Bitcoin has bottomed out within the last 48 hours. But looking at my chart, BTC just failed the well-known magical Big Red 3.618 fib circle ring. Funny how it bounced on that line THREE TIMES and then failed it. I took special...
We've dropped down to my magical Big Red 3.618 fib circle boundary, so I'm looking at the possibility of another drop. It could bounce up and recover, only to fall back to the 3.618 like it just did over the past week, or we could have a precipitous drop down to the 4.236 line. The stochastic is still not in clear "oversold" territory, so we could potentially drop...
This is a brief update that we need to watch tonight! BTC is below the 21-Day weekly average, and it looks like momentum is moving in the downward direction at this time. This is important! If we close below that line tonight, this could be a sign that the previous massive pump was temporary, and not a sign that we are not through the bearish trend. This increases...
Big Brother Bitcoin CLEARLY drug the XRP price line down with the recent break from the descending triangle formation that I discussed on my BTC post. The power of that drop was enough to wipe out the wedge formation happening over here on the XRP chart. But the drop has us sitting RIGHT SMACK DAB on the Orange 4.618 Fib Circle Boundary, and I think this is a...
BTC broke out of this formation as I expected, even though it first fooled me with what seemed to be a very compacted triangle formation that continued to the current one indicated on my chart. Now that it has broken out, contrary to the majority of the predictions being made by the YouTube motor mouths, do we have evidence as to what the possible landing spots...
I haven't posted in a bit, since the apparent ascending triangle broke to the down side on October the 30th. But while I was looking at that picture completely wrong, not having any clue as to what was really going on, another formation jumped right out at me a couple of days ago. While this boring side-banding movement continues, I'm noticing a longer, flatter...
I know there's a lot of talk about a big bullish breakout lately, but if my eyes aren't deceiving me, does this not look like a descending triangle formation? It sure doesn't look like a bullish pattern to me. More times than not, these break out to the down side. Even with the explosive rampage that took place days ago, I'm still not entirely convinced that we've...
Looks like a clear pennant formation. This would normally indicate a definite bullish breakout, but the stochastic is in the "overbought" zone. Plus the fact that this is a symmetric triangle. There's a 50/50 shot this will pop or tank. I'm betting it will tank. Do not make any buying or selling decision on this. I'm just reporting this flag as I just noticed it...
It looks like we have a potential breakout developing. I don't know how big, but a small one at least. I've been watching this ascending triangle formation, or pennant formation, taking place on the 4-hour chart for a couple of days. The XRP price line is still printing right within the boundaries. The stochastic is at 40% and heading on a downward slope, so...