- Ripple seeking support above .618 to stay on the better side of the $2.00-$3.00 range.
- Looking at another couple of days before the market decides on price.
Having seen my dreams of my 100 dollars turn into 400 dollars dwindle, I find myself back into my Evil Planning Chair (yes I actually have one). How will Ripple recover or will it reprice back down to previous levels? When will it let me take the $4.00 profit that will fund my lust for overpriced avocado and sundried tomatoes on toast? Without this funding I fear I shall be on morning oatmeal for some time.
So in the name of chartism I plot my fib lines and see where the market is showing support. A drop to the .786 region followed by decent recovery is not unheard of in crypto world, but that top line of the wedge is steep. I’m unsure if I can trust it given that it’s quite early forming but a third confirmation on the top line may see my next avocado on toast without the tomatoes. If the BB will start to should start to compress this may show a sign of ranging, though which side of the.5 fib level it ranges between is one for the market to choose.
I’m not removing my rectangles just yet as they are providing me with a time-based point of reference.
Currently trading at $2.70, I’m still holding on for a day or two. Bitcoin is showing signs of higher support but I dont see this as a bad thing for Ripple as when Bitcoin rises, generally the crypto market is stronger.
- Looking at another couple of days before the market decides on price.
Having seen my dreams of my 100 dollars turn into 400 dollars dwindle, I find myself back into my Evil Planning Chair (yes I actually have one). How will Ripple recover or will it reprice back down to previous levels? When will it let me take the $4.00 profit that will fund my lust for overpriced avocado and sundried tomatoes on toast? Without this funding I fear I shall be on morning oatmeal for some time.
So in the name of chartism I plot my fib lines and see where the market is showing support. A drop to the .786 region followed by decent recovery is not unheard of in crypto world, but that top line of the wedge is steep. I’m unsure if I can trust it given that it’s quite early forming but a third confirmation on the top line may see my next avocado on toast without the tomatoes. If the BB will start to should start to compress this may show a sign of ranging, though which side of the.5 fib level it ranges between is one for the market to choose.
I’m not removing my rectangles just yet as they are providing me with a time-based point of reference.
Currently trading at $2.70, I’m still holding on for a day or two. Bitcoin is showing signs of higher support but I dont see this as a bad thing for Ripple as when Bitcoin rises, generally the crypto market is stronger.
Komen:
Coooome on . . . .breach a little bit higher .. . .
Komen:
annnnnd of course it touches it. . . . ..
Komen:
3H candle broken past the top resistance wedge line. Needs another one for confirmation.
Komen:
Pleasing play .. . .and it moves above .382 fib and is boucing off .5. Looks like finding support at $2.6 and looking to range about $2.85. Not bad
Komen:
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.