Hi. Wanted to make bearish scenario for xrp, which right now seems possible as we bounced of 0.618fib.
ABC pattern is valid in this chart. 3/3/5 is general rule for correction patterns. As you can see we have two smaller abc's and now awaiting for C to complete. As you might know, C wave is always impulsive and has 5 legs.
Drew this to to share some light. Even if we drop that low, this goldish rectangle is strongest Weekly.S.Z. Historical drop in Xrp happened in XRP/USD pair on Poloniex exch. when it dropped 94.98%. Looking at this cycle it should be around 0.177$. I see this 1 Fib holding well an not going below red dotted line.
Keep in mind, that there are ton of crucial points below 0.20$.
Buying is the only logical option in this region with stops below red dotted line.
0.18-0.20$ zone won't last for long..
This is not a financial advise. Thanks for visiting and make sure you hit that like if it helped you!
xena.exchange/
ABC pattern is valid in this chart. 3/3/5 is general rule for correction patterns. As you can see we have two smaller abc's and now awaiting for C to complete. As you might know, C wave is always impulsive and has 5 legs.
Drew this to to share some light. Even if we drop that low, this goldish rectangle is strongest Weekly.S.Z. Historical drop in Xrp happened in XRP/USD pair on Poloniex exch. when it dropped 94.98%. Looking at this cycle it should be around 0.177$. I see this 1 Fib holding well an not going below red dotted line.
Keep in mind, that there are ton of crucial points below 0.20$.
Buying is the only logical option in this region with stops below red dotted line.
0.18-0.20$ zone won't last for long..
This is not a financial advise. Thanks for visiting and make sure you hit that like if it helped you!
xena.exchange/
