RSI is showing bullish divergences on both time frames. Per the fractal overlay on the 1D (adjusted from last idea) shows we could be double bottoming here. Followed by a weekend pump then a long squeeze to a new lower low - followed by a the final and biggest short squeeze to kick off Sept suckers rally. This will then likely be followed by a sharp correction...
Chart on the left is the 2Hour with a fractal overlay showing potential for a slight move down heading into earnings and GDP; followed by another move up and then some distribution. Note how the price and time of this last rally lined up. See previous post from mid month for confirmation of fractal confirmation. Chart on the right shows the 1Day with a fractal...
See previous post for more detail. For take profit targets I pulled a trend based fib extension from the last top. As you can, targets break into the 18,000s and could even take a crack at breaking $17,000 Strong reversal after; assuming hidden bullish divergence forms on the RSI.
Price is at the 0.5 Fib for both a bullish and bearish retrace pull. See green box Possible pattern overlay would indicate a fast move down soon. Assuming price gets rejected at the 0.5 or golden pocket 0.618 to 0.786 in yellow. Price could go through distribution in that range before the big move down. Or it could go through accumulation for the big move up....
3:1 Risk reward. RSI Divergence bullish. Fib levels hit. Support forming. .
XRP on the weekly could be revisiting 0.72 range and if it gets ugly, 0.45, just below the 200EMA (purple line). Then it will rally hard to the last HH near $2, in probably a weeks time or less, if so.
BTC Circle Fibs. As above, so below. Used the RSI tops and bottoms for circle fibs.
Sharp move up, knock back, then failed retrace leading to ALTS blow off tops. Using Fib circles and time fibs and fib ext. to obtain targets.
Just started using this hidden gem and already have some interesting findings. Take a look for yourself for now. I'll elaborate more later in the comments. Enjoy :)
If we hold the fib channel; various key fib supports will follow. Expecting a repeat of our peak 1:1; a fast fomo wick to it. It would then form more bearish structures in the higher time frames and BTC will do its Sept thing to make sure that wick becomes a bearish hammer and we waterfall down to a 0.66/0.70 spring. Then we form exaggerated bullish divergence...
Speculation of timed markets and the abundance of narratives for how its the market reacting, not us given a reaction: It can be noticed where 4 key fib levels conjoin. Also note the date range this could or would more or less happen. One could March low was the secondary test in Wyckoff. And we just formed a bull trap with higher highs in the second half of...
None of this is financial advice. Do your own research. Speculation only. XRP is forming a flat, could see it retrace back to 1.25-1.30 area before it goes on a very impulsive C wave down to high 80s. Charting us now being in a B wave up, w/a complex and perhaps deep 4th wave, then the 5th wave will pump fake people long and grab short liquidity. Most will think...
XRP formed a leading diagonal after brutal correction. wave one done. wave two almost. wave three next!
1st wave was 100% from bottom Finishing wave 4, assuming 1.09 holds Wave 5 will be short, just passing .618 Maybe wicks .702 Then Dooooooown to 80s? 60s? OR 44 or 45 cents....then Moon to 2+
XRP idea for a long then short. Publishing this as an attempt to predict future price movement. Not financial advice. Do your own research.
ETH idea for a possible 5th wave then correction before another possible wave up.