The question everyone wants to know. I knew that ripple was going to have a hard time after it reached $3. But holy crap, I didn't think it was going to be this bad... lol.
So I think we'll find some positivity soon, but before that happens, I think we drop back down to $1.15 or around there. If we find stability at that level, then I think its a good idea to target the first resistance for a 50% gain at $1.73.
Now, that will be a critical level. If that is the end of the C wave, then guys it's probably not a good sign. That white line is NOT much of a strong support line, and it's possible that we revisit the 87 cent level again. So what the bulls should try to push for is near the second target or even higher, to try to push this coin out of the bearish zone. We're near the oversold area on the daily Stoch RSI, but on this 4 hour chart, it indicates that we need to revisit another low before we can go higher.
So, the green wave count is if you are super duper drunk man bullish. But it's very unlikely to happen. Possible! But unlikely.
The white wave count is just a short-term wave count for the base case on what I think is the most likely to happen.
The orange wave count are for those feeling a bit bearish, and would like to see Ripple retest that low. Which is very possible.
Regardless, I think we reach the target 1. What happens after that will predict what will happen with Ripple for weeks to months. If we can't bounce from this .618 level, then Ripple is likely to stay bearish and possibly repeat that "ripple wont get past 25 cents" era and become a "Ripple can't get past $1" era.
Holy crap that's terrible and frightening and FUD!!! AHHHH RIPPLE IS DEAD. Right? Hmmmm... 25 cents... settling to $1.... in half of a year... Idk but guys either way a 400% gain sounds nice to me. Just remember if you ever see something growing "too fast," then you should probably take profit when it reaches a nice high level, and just WAIT.
So I think we'll find some positivity soon, but before that happens, I think we drop back down to $1.15 or around there. If we find stability at that level, then I think its a good idea to target the first resistance for a 50% gain at $1.73.
Now, that will be a critical level. If that is the end of the C wave, then guys it's probably not a good sign. That white line is NOT much of a strong support line, and it's possible that we revisit the 87 cent level again. So what the bulls should try to push for is near the second target or even higher, to try to push this coin out of the bearish zone. We're near the oversold area on the daily Stoch RSI, but on this 4 hour chart, it indicates that we need to revisit another low before we can go higher.
So, the green wave count is if you are super duper drunk man bullish. But it's very unlikely to happen. Possible! But unlikely.
The white wave count is just a short-term wave count for the base case on what I think is the most likely to happen.
The orange wave count are for those feeling a bit bearish, and would like to see Ripple retest that low. Which is very possible.
Regardless, I think we reach the target 1. What happens after that will predict what will happen with Ripple for weeks to months. If we can't bounce from this .618 level, then Ripple is likely to stay bearish and possibly repeat that "ripple wont get past 25 cents" era and become a "Ripple can't get past $1" era.
Holy crap that's terrible and frightening and FUD!!! AHHHH RIPPLE IS DEAD. Right? Hmmmm... 25 cents... settling to $1.... in half of a year... Idk but guys either way a 400% gain sounds nice to me. Just remember if you ever see something growing "too fast," then you should probably take profit when it reaches a nice high level, and just WAIT.
Kommentar:
The Bears KILLED this one!! All the way down to 70 cents! And it quickly jumped up to our support zone with the highest volume it's had in 23 days! Congrats to the bears the shorted this sucker. If you were a bull, I am so sorry.