How weird that it may sound, this is a actually a bullish scenario. (it it holds).
Testing prior structure/break-out will confirm to bulls the top is in.
The people who bought the top might not stick around for the Spark token on December 12.
If you paid 0.60 , 0.70 , 0.80 for XRP and you see it drop below 0.50 , 0.40 you might panic sell
since people don't know how much the spark token will be worth.
So while everyone is bullish at this moment, I see a move down to around $0.35.
And while doing that, why not test the break-out around the golden zone 0.618 / 0.65 over the complete structure.
Testing prior structure/break-out will confirm to bulls the top is in.
The people who bought the top might not stick around for the Spark token on December 12.
If you paid 0.60 , 0.70 , 0.80 for XRP and you see it drop below 0.50 , 0.40 you might panic sell
since people don't know how much the spark token will be worth.
So while everyone is bullish at this moment, I see a move down to around $0.35.
And while doing that, why not test the break-out around the golden zone 0.618 / 0.65 over the complete structure.
Comment:
That said, if this plays out we're going to start wave 3 of the larger degree. You can bet your *** people are buying into that.
Comment:
I ment "confirm to bulls the BOTTOM is in".