Here's a different look for your view as price continues to move in a similar pattern to BTC. Cheers!
The chart is plenty self explanatory, which is typically how I like to draw my charts....few words and LARGE picture! So, draw your own conclusions! Cheers!
First let me clear something up! One of the most common questions I get is, "What are my price targets"? The truth is, I haven't decided yet if I am going to answer that question or not, so no need to ask me! Besides, IMO, XRP price has a lot of work to do before entertaining upper targets! Next, I also get questions from some people that seem a lot more...
First, I'll share my 7 year channels with you, which I believe are critical for the continuing bull run! Below the lower channel line will potentially jeopardize the continuation! Next, each red horizontal line represents a critical spot where each bullish peak broke down, and a critical spot for price to re-conquer and continue it's bull move. After each spot is...
Taking a break from the fractal patterns and looking at a couple of channels. The median line can act as strong resistance, but the ultimate target would be a trip back to the other channel line itself. Outside of the channel boundary is usually a small parallel area, that I refer to as the reversal zone. It doesn't mean that it WILL reverse in the zone, but it's...
As you can see, I have tightened the "Up trend line", which is critical for maintaining the overall pattern, and so far, we can see that the pattern is still in play.
It has taken 7 months to challenge the reversal zone...If price can conquer the red dotted line, then it will be very bullish, BUT if price gets rejected by the red dotted line and drops back into the channel, that would be very bearish for price, it's that simple! Good Luck!
So, Justin431 asked for an update on the bottoming pattern, and this is the update to that previous chart. The BIG question here is, will XRP's price now move off the bottom in the same manner as BTC did? My answer would be, I don't know! But, as for price, I believe we can still draw out some similarities in order to NOT fully rule it out as a possibility!...
Another comparison that I have been holding and thought I'd share it! Regards!
For what it's worth! Clearly you can see the differences, but overall, there are plenty of similarities in order to identify the pattern, eh? At any rate, I've been holding onto to some of these ideas for a bit now, and thought I'd share them...enjoy! Good Luck!
Quick update! So far so good! Once Bitcoin's price broke above the neckline, it formed a consolidation triangle before rising to a new high. Will XRP continue to follow suit? We shall see! Whether XRP's price performs a consolidation triangle or not is somewhat irrelevant to me, what is relevant is that XRP's price remains above it's neckline...that is MOST...
I've studied channels for years! They are my favorite tool! Before using any other indicator or tool, I will always start with channels, and then branch out to other indicators to help confirm my assumptions! Anyhow, I thought I'd let my secret out of the bag for everyone to use and enjoy! Cheers! Have a great weekend!
LOL! "Amazing"... clickbait at it's best! The truth is, channels are amazing tools, especially when you know how to apply them! Now everyone will start posting horizontal channels! Secondly, I have altered the Fib Time zone for your view as well, enjoy! Let's see if it "pans" out... Cheers!
First, if you do not follow my work, then you need to know that I have been following (3) Fractals since Spring of 2019! This would be the third fractal which is from Bitcoin's correction of 2015! Although I haven't posted (lately) much about this fractal, I felt it was important to share this fractal idea with you! The 2015 bottom for Bitcoin was most...
In the past, I have been comparing the 2017 vs 2018/19 Fractal, but today I am using the 2014/17 Fractal for a change. The main point to using this fractal is to show that the previous (2) large corrections for XRP have been, basically, the same! Is it computer trading/algorithms buying and selling that creates this anomaly? Or, is it price manipulation from...
IMO, when it comes to this fractal, nothing is broken! "If" this fractal is to continue, then I am suggesting that we found the bottom of the Number 5 (in blue) of the Expanding Diagonal, and we should expect price to move higher as indicated. Up until this point, this fractal has played out in a remarkable way! Sure, there are differences in certain areas, and...
And now you know how I derived at my target ($.17xxx cents)! If this count is complete, then what should we expect? We should expect price to reverse higher in a very powerful way! So far, we have a fairly decent candle, but we certainly need more follow through! Remember, the market always decides!!! So, if there are not enough buyers, then price will pursue the...