Just here today to point out the last time XRP had 30 weeks of consolidation (after .006 line) was just before the massive bull-run we had in 2017.
XRP was on a downward slope along with the rest of the crypto market for about 9 months after that.
For the past 210 days we've found a range around .30
I think we've finally found a good support for the...
In regards to market cycles, if this is the point of maximum opportunity I believe we'll likely bounce off this over-extended RSI into the 80% point of the wedge where most breakouts occur.
We'll likely consolidate on top of the wedge until 24 January where BAKKT launches, and I believe from there the bear market will truly be over.
We should thank Roger Ver...
Before the XRP bull run in December of 2017, you can see it was in a descending wedge formation (in blue) followed by a channel in pink.
Based on the artifacts from 2017 and some recent similarities now in 2018 I believe XRP just entered the channel formation and is repeating just as it did in 2017 but on a 2x day scale.
The institutional investors and market...
Looking at this chart and seeing the two channels we could possibly be taking (yellow - bearish) (blue - bullish) it seems clear to me what the bulls have in mind for the next target. It happens to be the recovery-high of our swing from February - March (11500).
This low swing is a pullback to consolidate and gain more momentum to push higher. MACD is starting...
BTCUSD - Logview - Daily
Yellow trend lines being our bearish wedge
Blue trend lines being our bullish exit wedge
Bitcoin managed to make itself a bullish wedge/channel to exit the bear trend. As of right now we're still correcting within the bullish wedge. I fear if we break downwards through the blue support we'll be re-entering bearish territory for a...
XRPUSD - Daily - LogScale
This analysis is my personal opinion, do your own research before investing your own assets.
Blanket statement over, lets get started.
XRP posted some similar bullish flags after its descending wedge in the past after some significant gains.
Looking at the RSI, it looks like we're getting into popular reversal zone after some needed...
I'll admit, i'm a little more focused on XRPUSD compared to XRPBTC.
Today I realized i've probably missed a lot of the market movement as XRPBTC will start showing a lot of movement while alt-coins change directions. Especially since you can see Bitcoin market share is beginning to decrease again. Are Bitcoin funds moving to alts as BTCUSD hits resistance?
This is the chart showing similarities from the 2018 to the 2014.
See the similar breakout patterns, similar MACD waves too!
Again, not saying it's a certainty but the similarities are oddly accurate.
Let's hope 2018 is better than 2014.
Best of luck to all, unless you're SHORT!
Bitcoin - Daily - LogView - SEE 2014 Post Below!!
Bitcoin continues to show similar patterns to the 2014 correction. In this chart you can see Bitcoin as of today, down below i'm posting Bitcoin in 2014 for comparison, see the two side-by-side for comparison.
Pictures are worth 1000 words.
Daily MACD is high, RSI is high, etc.
The only thing in BTC favor is...
Bitcoin - Daily - Log View
After a new all-time-high back in 2014 there was a significant correction with some characteristics to highlight.
- Descending wedge
- 3 phases of selloffs
- rally after 3rd selloff
The same indications are happening now after the 2017 all-time-high.
- Descending wedge
- 3 phases of selloffs
- rally after 3rd selloff (the yellow...
XLMUSD - Daily - Log View
As you can see, there was a similar consolidation phase before the "big" run last year. We had an ATH and a falling wedge, double bottom and ignition into a new ATH. The same is happening with this consolidation. Big run, ATH, falling wedge, double bottom and a breakout...
Based on the RSI, we have a few more days of gains until we see...
Bitcoin about to bounce off the 200-day moving average and start wave 3 of this Elliott impulse wave.
See the overall larger inverse head and shoulders pattern we're making.
This is my personal opinion and should never be the basis of your own investment methodology.
As you can see from my previous charts, Bitcoin has historically bounced off the 200day MA very strongly. In this case, we have the strong possibility of forming a double-bottom off the 200day MA and potentially bouncing into a HUGE inverse head/shoulders.
After all this sideways movement we've formed a nice support at $10K and once we get back on top of...
If BTC continues this bullish trend and breaks out in the next couple days from this "Wave 2" then we'll be looking at a perfect setup for a massive inverse head and shoulders pattern.
Keep an eye out for the Wave 2 breakout and a Wave 3 start.
Based on previous support levels, it looks like we have a good chance of dropping down to $8600 before catching support and continuing this "bull run".
We're still in a down-trend until we break out of $11k