Key Points:
- Finding support at the .382 fib, around $2.70-$2.80
- Seeking to find $3.0 support
- Pattern similar to the price surge to $2.0
Following the surge upward from $3.0, Ripple retraced close to the .618 fib at 2.51 (passing through .5 twice) where .618 almost intersects the 3/1 fin. It then bounced back to $3.07, not quite as strong as the previous surge but following suit none the less.
So we all know history repeats itself right? Based on that tiny assumption:
- Ripple may range for a couple of days till the 7th should it find support at $3.00
- The 8th will show an upward trend followed by a surge past the 2/1 fin to $4.33, and retrace back to $3.69 (using the fan and .618 fib)
- Some investors will decide to take profits at $4.33. Others will hodl on to $5.50 where some serious sh1te will happen.
$5.5 would be a magic milestone for Ripple, though I know there are readers out there who are blowing this one off feeling confident that the market cap of cryptos is far from its top. However if Ripples finds no support at $3.00 then Ripple may retrace back near $2.00.
Again I found myself daydreaming in the land of favorable price movements, keying in my evil plan to take profits at $4.00, only to be overcome by the the realization that I have bought so few of these gems that a price move to 100 wouldn’t make a material difference to my lifestyle.
Currently trading around $2.70-$2.80, pushing for support at the $3.00 line. Go Ripple!
- Finding support at the .382 fib, around $2.70-$2.80
- Seeking to find $3.0 support
- Pattern similar to the price surge to $2.0
Following the surge upward from $3.0, Ripple retraced close to the .618 fib at 2.51 (passing through .5 twice) where .618 almost intersects the 3/1 fin. It then bounced back to $3.07, not quite as strong as the previous surge but following suit none the less.
So we all know history repeats itself right? Based on that tiny assumption:
- Ripple may range for a couple of days till the 7th should it find support at $3.00
- The 8th will show an upward trend followed by a surge past the 2/1 fin to $4.33, and retrace back to $3.69 (using the fan and .618 fib)
- Some investors will decide to take profits at $4.33. Others will hodl on to $5.50 where some serious sh1te will happen.
$5.5 would be a magic milestone for Ripple, though I know there are readers out there who are blowing this one off feeling confident that the market cap of cryptos is far from its top. However if Ripples finds no support at $3.00 then Ripple may retrace back near $2.00.
Again I found myself daydreaming in the land of favorable price movements, keying in my evil plan to take profits at $4.00, only to be overcome by the the realization that I have bought so few of these gems that a price move to 100 wouldn’t make a material difference to my lifestyle.
Currently trading around $2.70-$2.80, pushing for support at the $3.00 line. Go Ripple!
Kommentar:
I saw a couple of good postings by other traders explaining why the price is declining to $2.50.
One trader claimed that $2.5 is the more reasonable support line for now due to the indications coming from the ADX as well as the previous all time high.
Another trader pointed out the end of the elliot wave formation upwards, and so now a further reprice can be expected.
If the price finds support at $2.5 / .628 fib then it may support further price rises in the short to medium term. A reprice down should it follow wave theory would mean us Ripplers will wait longer.
Was too aggressive on previous predictions and didn't include indicators for trend strength. This isn't 2017 where wedges followed surges, which were then followed by further wedges and surges and repeat. Next time I shall factor in the impact of previous surges into my price proction.
If you press the play button now, you will see it is now coming close the the old trend line intersecting the .618 fib. See how it plays out for another day.
One trader claimed that $2.5 is the more reasonable support line for now due to the indications coming from the ADX as well as the previous all time high.
Another trader pointed out the end of the elliot wave formation upwards, and so now a further reprice can be expected.
If the price finds support at $2.5 / .628 fib then it may support further price rises in the short to medium term. A reprice down should it follow wave theory would mean us Ripplers will wait longer.
Was too aggressive on previous predictions and didn't include indicators for trend strength. This isn't 2017 where wedges followed surges, which were then followed by further wedges and surges and repeat. Next time I shall factor in the impact of previous surges into my price proction.
If you press the play button now, you will see it is now coming close the the old trend line intersecting the .618 fib. See how it plays out for another day.
Can go to my "Blow my ripple" post to view. Just press the play button.