This is the monthly chart on XRP and making an attempt to estimate a long-term target IF the long term pennant that we are currently testing the lower trend line eventually break bullish. Below are the factors.
1) Steves HeatWorm is in the buy zone. We can notice that the last 2 times we were in the buy zone of this indicator marked with white circles and denoted...
1) ETC seem to be forming a nice H&S on the weekly chart with potential target of somewhere around 183 and intersecting a double top from last cycle
2) once the stochastic RSI cross the 20 line it should get interesting but also need to break that channel and test as support.
12K or 20K or anything in between
This might be the last cycle top before the start of a major correction for ETH ending a 5 waves macro structure if the above trend line cannot be broken.
Personally, I find Wave Theory can be subjective. Time will tell.
We might be at a crossing point for BTC.
1) We could be finishing 5 wave correction. we must regain monthly candle close at support (17.6k) and potentially break to the upside in December
2) If we break the falling wedge then 5K could be a horrible possibility in the future.
3) Ever lower volume?
