A bunch of confluences of the last few Weeks / Months. Elon's tweet about centralization and miners is another confluence. Combined this with the High Time Frame charts all looks good, similar to the XRP sells posted a few days ago
Dollar Index Monthly Timeframe Broke a bearish trendline at support, expecting a bullish few months for the $
Zooming in further with the help of a fibonacci, we should see this continue up towards the 95.00 region should these retracements hold. Originally meant to post when we were at the 78.6%, oops
Following the Monthly chart posted previously, which was abit dodgy... Broken a downwards trendline and like previously with this pair I would expect this to be the start of a bullish trend.
A zoomed-in look at the downside bias for this pair on the Daily Timeframe. After reaching the Monthly (Dec 2017 / Jan 2018) candle bodies and reaching the Weekly Fibonacci Extensions, we have another Fibonacci in play aligning with our downside targets. The -61.8% Extension aligns up nicely with the Monthly (Dec 2020 / Jan 2021) candle bodies from the Monthly...
Following the previous post of the Monthly Timeframe, this Weekly Fibonacci further validates why $1.96 is a rejection zone. The -161.8% Extension aligns with the Dec 2017 / Jan 2018 candle closes where we have tapped it perfectly. I would anticipate that the next move would be back towards 61.8% and 78.6% retracements where we can identify the next set up. I...
Just something I noticed on the higher timeframes with XRP We have tapped the Dec 2017 & Jan 2018 candle body closes / open perfectly and showing a solid rejection. $1.96 is a solid reversal zone being the 12M candle closes as well as the Monthly candle closes. I will go into more detail about why this is a solid reversal point in the next post on the Weekly...
Alternatively to my previous post, this could play out for another buying opportunity under $1. If this is to come through we would be extremely lucky to be able to buy again at $0.50 - $0.50. I won't be selling any at these prices but I always have capital ready should this come through.
Will be buying more XRP between $1.17 and $1.04. Some great news yesterday about Rosie Rios on Ripple's board of directors and an update on Polysign. I have an alternative view in case we do see lower but will likely be taking this trade. May 8th should be a fun day in the markets. 📉
Looking at the bigger picture with the help of a fibonacci. See you at $5 soon this year 😎
Update from the previous post, we broke the downtrend, the wedge posted wasn't a great setup once we started breaking lower. We will see if we reject these retracements above between $1.50 and $1.80 then we can expect a move down. Alternatively, if we push towards $2 a break above would expect a continuation. More to follow soon.
Consolidating around $1.3 with a wedge pattern, in an uptrend this is usually bullish. Awaiting confirmation of a breakout upwards to confirm this bias.
78.6 Tapped, a drop in dominance will coincide with a drop in price. Awaiting the weekly close.
Been a great week for XRP finally reaching $1 again. Was anticipating one more dip before such a push, though I don't believe it is out the question just yet, over $1.30+ then yeah we gone. For now, a wave 4 correction is possible, should we start seeing moves lower along with bad news to aid this, people buying now will not want to touch XRP again. If / When...
Triangle forming on the Daily chart, is viewed on the log scale for a cleaner pattern. If we make LL and LH we will easily see $0.25 again, going off the Fibonacci retracements from Mar 2020 Lows to the Nov 2020 Highs. Also lines up with BTCs bearish pattern.
Typically a rising wedge is bearish, right? This is on the log scale
How I expect the next few months to play out for this pair.