After a few days of being on mobile, I am back on a computer to create new charts.
Updated XRP/BTC Chart. You will notice a new channel being created. The narrowing in the channel suggests the upside over Target 1 to form a rising wedge, with bullish dominance.
T2 is in play right now.
On the chart, you will see the estimated target area for where the breakout will occur.
We are consistently bouncing off the short-term support line and bounced off the mid-term Bullish Divergence .
Any questions, please feel free to ask and I will go more in depth.
There are number of Drawings on this update, that should give you an idea of where everything is going.
There is both an Ascending Triangle and a Symmetrical Triangle that are formed in the same area.
Inverse Head and Shoulders broke through the neckline, causing a touch to the Bullish Diversion.
Wave Retracement Pattern ABCDE are completed so...
Zooming out on the daily chart. The Massive Cup and Handle being Formed support level is roughly 500-600 range. As stated earlier today on the 15 minute chart for the accumulation range 500-600 satoshis, you will notice that this this will look like STR last week.
Possible Scenario & Time Stamps:
1 Day: XRP retraces to the Bullish Divergence Line,...
That was a nice run this weekend by BURST.
While we are correcting from the massive gain, be prepared for the reversal likely to come tonight.
Forecast for Full-Blown Bull Control - 3 days (~5/17/17)
Forecast for Reversal - ~5 hours (12am EST: 5/15/17)