We can see a similar pattern before the end of the crypto cycle in 2017 so we could expect a similar scenario this time as well. If we include the inflation that is coming the target could be much lower but let's be realistic and wait to see the outcome.
If we are going to be realistic with the targets that pitchfork is showing us, it totally fits the pattern of a fifth wave of the end of bull run 2018.
If support 39k will hold we'll see a huge rising and continuation of the fifth wave and up of $10k daily.
By the Elliot waves theory, we can see the last cycle has had the 5 impulse waves where the fifth one was a pretty strong one with a blow-off top and euphoria phase.
Why do you think that this cycle will end without a fifth wave? Why such a short bull run after multi-year of a bear market?
Be patient and you'll be rewarded.
XRP is preparing for a breakout so the last chance for a buy cheap is coming.
Everything looks great so my first target is at 6088 satoshis. It also could go through it easily and touch the next one at 9130 satoshis.
Time will tell so be ready for the blastoff and good luck.
As we can see the inverse head and shoulders pattern has formed that will lead us to 60k again. Besides that, we can see the target is exact at the 0.618 fib extension so will be a nice place for the sell-off.
Keep in mind that whales can start selling it earlier since whale alert showed sending a big amount of BTC to the exchanges today.
As we can see the last time we've had a bullish divergence on the 4H timeframe but this time we don't. Does this mean we'll have a bigger correction and lower lows?
To me looks like 60:40 to go down. There's nothing to do but wait to see!
A giant Hidden bullish divergence on the weekly timeframe can tell us only one thing.
We all waiting for that moment because simply it will happen again. When? Very soon.
If you don't think that this coin is undervalued do research and you'll find out why is this being calling a standard.
As the title says a falling wedge pattern and the bullish divergences on the oscillators at the RSI oversold level.
That could lead to a trend reversal so it could be a nice entry for the continuation of this nice DeFi project.
Let's wait for a breakout and confirmation then I'll do an update for the targets.