Last post I predicted two targets:
We hit those targets.
What happened after?
What you're seeing here is actually my modified version of bollinger bands. The blue band is not the 4hour band, but rather the 16-hour band from the 4 hour band point of view. The hard rejection we saw a few hours ago was the result of XRP hitting the exact top of that...
Do you guys remember that prediction The Magic Poop Guy made back in the first part about this year about Bitcoin Bottoming out at 2k? He might have been right.
What you're looking at here is bollinger-bands in multiple time-frames. I set it up originally for 1H so I could gauge 1H,4H,1D,1W all at the same time. Out of curiosity, I put this setup into the 4H...
I want to compare the responses of XRP and DASH, because I feel it highlights that there can be more effective choice in what you choose to buy when it comes to long trades. As saw today, BTC and the rest of the cryptos surge after the dip we experienced two days ago. We ended up with basically a double-top (although I'm...
In my experience, Falling and Rising wedges eventually give out to higher and lower prices. But the responses are muted and only short term. A lot of people were looking at a resistance that we just broke, and while it was valid, and that's the reason we see the flag now, I'm not sure how much more EOS can go up before it goes back down for a third time.
We're looking at XRP Day Chart with three Moving Averages. EMA 20, MA 50, and EMA 200. The EMA 200 explains exactly where we are at with XRP and, quite frankly, most of the cryptosphere as we know it.
Basically, in the long run, the market has not reversed from its downtrend yet. We do see strong support at 0.3 on XRP, so what we see next after XRP hits this...
So what we're looking at is Moving Averages. An Exponential with a length of 20, and a Simple Moving average of 40 on the Day Scale.
You'll notice that the 40 is still above the value and was above the value during the entire time all crypto made a rebound. What I'm seeing here is echoed through out a lot of reversal patterns. You'll get a bounce up, but will...
This fall is sure an interesting one.
I've measured two highs and two lows since the crypto crash of two days ago. We probably need one more of each to confirm. Interestingly enough, I broke out a fib time projection, and the end of it matched with the end of this rising wedge.
I could be wrong. I probably am.
The following is a basic reasoning for my projection and where I chose my point.
So I moved my low point from the last surge to X, which is a little earlier than what I had it at. When you do this, you can see the Fib retrace from the previous level hits squarely at .618. Interestingly enough, this is also where the resistance of the ascending triangle was, and...
XRP has an interesting setup. The falling wedge has brought XRP back to the 0.786 lines, which is more than what I expected. It may be, though, that the momentum needed to break over the Ascending Triangle formation was enough to kill the momentum of the bull run we experienced in the last two days.
The interesting tell seems to be the angle of the potential...
EOS is in a falling wedge at the moment. This one is pretty well defined, and it seems to be supported by a previously long-standing resistance...a resistance that was there since July.
The trip upwards will be met with another resistance along 6.1-ish territory.
XRP is going to have to go through a short correction. Watch for how steep the correction is and where it ultimately falls. If the support holds at 0.5, then we can progress to 0.6ish for a high. If not, it's still possible, but also possible that we could get a double top reversal.
Just my opinion.
I'm not convinced that BCH has reached the top of its respective surge yet. It hit resistance at around 650, but if it's able to push past that marker, it will continue until 750.
This is my opinion, of course.
The Support and Resistance lines for EOS and much of the cryptosphere are both still very strong, it seems. From EOS's perspective, we may be in this consolidation phase until around December 1 at the very latest, according to the intersection of the trendlines.
For now, though, we're headed back down.