While XRP is in its last stages of consolidation, lets re-asses and confirm our obvious biases!
1. The longer this consolidation lasts - the higher is the 200-week MA target. (Last week we were at ~4710, today we are at ~4750)
2. Those accumulating through Dollar Cost Average will not wait to reach the extreme bottom at ~4750sat.
3. From ~4750sat, we will move...
Just a different view of the XRPBTC play.
BTC is leading. But, as you can tell, there are distinct dominance cycles and XRP will move soon.
Anywhere along the Green Arrow line.
Could it just be confirmation bias at play?
Let wait and see!
We MAY still see a quick run to 4700sat to form the final liquidity pool and catch gamblers, weak hands, baby bears, and other simple creatures.
4700sat is 200 MA on weekly, so I don't think it will get challenged. At least not if neurotics at CoinMarketCap decide to do something stupid again.
This is not financial advice, but my bag is full. :)
RSI - down
Stoch RSI - down
MACD - down
CMF - down
WaveTrend OCS - down
ADX and DI - down
Ichimoku Trendline - overextended
Parabolic SAR - ?
Something really idiotic needs to happen for XRPBTC to go back to base 4200sat...
We're in the accumulation zone
1. 3-year trendline(RED) will stand,
2. This may last for 3-4 weeks,
3. Sophisticated traders will start hunting for tight Stops.
Things to expect:
1. Confusing swings,
2. Fake news,
4. Emotional drama.
The big fork starts on Dec 19, 2014.
I don't see XRP price dropping to the lower channel as XRP uses are numerous today comparing to 1,2,3,4 years ago. We're at the lowest point we'll ever be with XRP.
If nothing happens, then by next year XRP will gain 50% according to the trendline.
If something really bad happens, the potential rewards still outweigh the...