chenb1981

chenb1981

The breakdown of the XRPUSD from the big speculative top formation is readily apparent from the chart. The market is driving towards the weak long holders' stop order pool to wash out weak longs. Until those trapped weak longs are washed out, we are not going to see price rallying above 2.4 dollar mark. What I am looking for is a accumulation pattern below 1.4...

chenb1981

The pattern at the top is a classical three drive distribution top formation. The double top to the left seems to be the top, but the market maker to drive through that formation one more time to sell their holdings to the short sellers who are covered at the high and the unsuspected speculators who are chasing the high. After it broke down from the third leg,...

chenb1981

The range I have identified in my previous post has been proven to be a distribution range. There is some bullish reacted out of the bullish order block at the 2 dollar mark. However, the buyers are facing a hurdle of heavy distribution at the 2.6 level. Most likely, we will not see price trading above 3 dollars (too many selling) until late Jan when a new wave of...

chenb1981 Updated 

The BTCUSD has made a blow-off top after a parabolic advance to just a couple hundred dollar below 20,000. The parabolic rise is very typical to all speculative bubbles which I have seen multiple times in my life. This parabolic advance has trapped a great deal of unsuspected speculators which creates heavy overhead supply. I see price finding resistance at the...

chenb1981

The ripple had a lightening ascend in the last week 2017 and the first week of 2018 touching 3.3 dollar level. This remarkable rise has been concluded by a two legged correction (decline) retracing 61.8% of the second ascending wave. Then the buyers quickly jumped in at 2.3 dollar level resulted in a massive volume buy bar, which had been successfully tested (a...

chenb1981

The ripple had a lightening ascend in the last week 2017 and the first week of 2018 touching 3.3 dollar level. This remarkable rise has been concluded by a two legged correction (decline) retracing 61.8% of the second ascending wave. Then the buyers quickly jumped in at 2.3 dollar level resulted in a massive volume buy bar, which had been successfully tested (a...