Been awhile... If you hold XRP, you should know this, and know it well! Cheers!
Somewhat of an update to yesterday's chart. I believe the developing price for BTC will end up with these (2) options, and there is no way to predict which one will occur! The only indication will be once this down trend channel's upper channel line is broken! So, after the Running Flat is complete, price needs to bounce higher to the upper channel line and...
As I recall, "the sky was falling for Bitcoin" back then as well... I'm NOT a maxi! I'm just a trader! Cheers!
At the moment, and in my opinion, it still counts best as an A - B - C or (5-3-5) structure. I prefer this over an impulse wave... technically, it could be counted as a large 5 wave structure, but it doesn't have the right look (for me)! It's reasonable to think price will reach the lower trend at around $30K, especially if it stays below the dashed median line! Cheers!
This chart explains my thought process as to why I am considering a Running Triangle here. I believe it's important to "dig in", and show you my thought process. If the price action that we are witnessing is just a large consolidation pattern, then there are at least (3) primary options: 1. Running Triangle 2. Expanded Flat 3. Running Flat I'm open to all (3) of...
Update from my previous Bitcoin chart. These (2) counts remain valid until proven invalid! Cheers!
To say, Bitcoin is in a, "Bear Market" is really deceiving, especially to those people that really do not understand technical analysis! There is a BIG difference from a "Bear Market" and a "Price Correction"! In my opinion, this Wave count should be on everyone's radar should price continue to drop! In that event, I believe there should be some type of support...
I believe the price for XRP has (3) options. There could be more, but to me, these are the most likely outcomes. UPCHANNEL - XRP price can respect the lower trend line of the channel here, and continue higher. TRIANGLE - XRP price can move higher, but continue respecting the triangle in a corrective manner. CORRECTIVE CHANNEL - As long as price remains...
In September, I posted a chart with this symmetrical triangle, and it has remained on the radar for me. Take note, that Bitcoin built a triangle as well(similar spot as XRP here), as it came off it's low back in 2015! In order for this pattern to continue, I would say that my 'line in the sand' would be above the $0.61 cent mark, below that, and it could...
I proposed the question with the ADA chart yesterday, "Was it leading or lagging?" hoping you would see that it was leading! As you can see, the ADA chart is on a 4 hour time frame, while the XRP chart is on a weekly. Again, while there are differences there are plenty of similarities too! I believe the pattern is complete or near it! On a side note, I couldn't...
This combination correction is broken down into (3) main waves, and smaller sub-waves within each of the main waves labelled W-X-Y. As for the correction, it appears the ADA has dropped much lower than some of the others, which makes me wonder, is leading or lagging? If you don't understand what I'm saying, pull up and XRP daily chart and compare it to ADA......
Although there are slight differences between these corrections, the similarities are compelling for sure! I was taught that when you are having difficulties counting the waves, just simply count to 11... and, there you have it! Let's see if this fractal pattern continues! Cheers!
Well, well, well... the E-Flat remains a solid option here! While there are bearish setups that still remain, I still favor the Expanded Flat for now! Cheers!
Happy Thanksgiving! I'm entitled to change my mind... not saying this will happen, but I'm open to it! Cheers!
As I mentioned the other day, there are a couple of ways that price could drop below the $1.02374 support, and I like to call it the "Dirty" option! Can't tell you how many times I've seen that one! A part of my analysis, is to NOT give you all of my thoughts, but rather, I would prefer to give you enough of my thoughts so that you can begin to consider these...
This is an update from a couple of days ago where I suggested that price may be in an "Expanded Flat" correction, which takes time to mature in order to complete. The chart speaks for itself... so no need for me to be too "wordy" about it! Cheers!
Very similar patterns here, with the exception that QNT is happening at a faster pace! As noted, if price remains below $256, then we can expect lower prices. And also, from an Elliot Wave perspective, price will often times correct back to (at least) the starting point of the 5th wave... erasing the entire move! On my last QNT chart, I posted the triangle, and...
PLEASE CLICK THE LIKE! But, only if you like it! I think the most likes I've ever had is 20... let's see if we can get that higher? As I mentioned before, and for whatever reason, I believe that XRP price is patterning off of the 7 MA! This can be cross-checked on multiple time frames, including this 4 Hour chart! I have placed some labels on this chart, in...