Ok, taking a look waves, gains, losses, and stuff. 1) Bollinger J hooks on the Daily resulted in these responses. 2) The overall underlying trend is Down 3) The First Feb Hook resulted in a .34 gain for a period of 1 day three hours. 4) The return to trend after that period resulted in a new low at .56. 5) The High to low was .46 6)The last Bollinger J hook for the same time period resulted in gain of .25 and this could go higher outside of the period. 7) Both gains are at the top of the downward trend channel (not shown) 8) These correlations are responding to good ol fashion Fib Retracements nicely. (not shown) 9) This is a critical period. Does the asset continue down or does it go up? 10) My opinion is down because this is correlated to BTC and BTC is the 800lb gorilla in the room. 11) My impression is that big money wants BTC low and controls that through the futures. 12) They want to shake out the retail because we taught them a lesson-Almost a trillion dollar industry without them....naughty naughty crypto world 13) Notice how they restricted purchases globally! 14) Ok back to my analysis-Indications are downward on this level but the daily is showing we might hang at the .786fib just like we hanged at the .686. (take a look-Use retracement ultimate low (.003) and ultimate hi (3.31)) 15) Look at the daily..... 16) Look at the weekly too. 17) This is the 30 minute 18) Bollinger B% and then the new tool-Elliot Wave Oscillator-For the Wave People are the lower studies.
Lastly, Since I am new to crypto, I am learning the reactions of this industry. While I have the tools, I am learning the sentiment. It is really odd that XRP has major major news, that in the other world, would be catalysts.....It's really odd that the outsiders view crypto as crypto and not based on the merits of each unique digital asset....I am long XRP and Tron and acquiring more.
This is for educational purposes and reflects my own opinions. Any action that is derived from my analysis or comments is at each person"s own risk and not the risk or liability of me as a person or my company.
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BTC nears the200MA on the one hour...I expect resistance there.
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The current XRP price is at the 50EMA as a correlation to the BTC 200 EMA
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Trend Monitor
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Red is 9EMA, Green is 50EMA and blue is 200EMA on this one hour chart
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Potential Targets for Hodl
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Added Fibs to provide basis for earlier comments.
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Ok onother observation the BTC prices are supported by the 9EMA right now....Keep an eye there......Getting ready to head to the big market as shit hits the fan, I am smiling all the way!
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Hmm...Been wathching this since 0400 EST and I am starting to get a little warmer.....this is looking like the consolidation zone--.55-.80
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Or a Bear Trap.....anybody else????
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Bear Trap and now begins another push to the lower......look for action in the 40s--UGH
It may be bear trap. Ripple closes over EMA200. There is good news. I still expect some drop to 0.40, but from current levels ripple is very attractive to buy and people joining again.
The best way to trade right now is to invest, and re-invest on every lower stage. It have to rise next months.
The best way to trade right now is to invest, and re-invest on every lower stage. It have to rise next months.
cointelegraph.com/news/ripples-global-financial-network-partners-with-china-based-payment-provider
And some news that can affect more people to join:
cointelegraph.com/news/crypto-experts-predict-2018-bull-run-bitcoin-to-50k-overall-market-cap-to-1-trln