Hello everyone,
xrp has made the best reversal, no question, but trx also shows us small signs of life, so maybe we have the turn around here too. What we have here is a kind of mix of both scenarios, I described in my last analysis: the low at 0.01587 was not the end of the correction starting at all-time-high, it was the second low at 0.1699 (a wave 5 truncation, not beautiful, but most likely at the moment). So, if we are in an uptrend now, the best entry points lay behind us, but there are always next chances coming…
Scenario 1 (blue line // 70% chance)
The correction ended as described above. Since then trx is forming a impulsive wave structure on lower wave degrees. Most likely we are in wave 3, which will end soon to complete this cycle (wave 4 and 5) at the next key level on the upside: around 0.02780 (wave 1 of higher wave degree, green in the chart). The next entry point will be the end of wave 2 (green in the middle of the yellow circle). But this we have to decide later, and maybe we have to adjust it.
Scenario 2 (red lines // 15% chance each)
The correction started at all-time-high is not completed yet…
a) trx is now selling-off to complete the final wave 5 between 0.015 and 0.009
b) trx is going up to the next key level and from there it’s going to hell (0.015/0.009). If so, we are now in the correction pattern of wave 4 (abc, dark green in the chart)
Please leave a comment or a message, if you have any questions!
Take care
Tgo
xrp has made the best reversal, no question, but trx also shows us small signs of life, so maybe we have the turn around here too. What we have here is a kind of mix of both scenarios, I described in my last analysis: the low at 0.01587 was not the end of the correction starting at all-time-high, it was the second low at 0.1699 (a wave 5 truncation, not beautiful, but most likely at the moment). So, if we are in an uptrend now, the best entry points lay behind us, but there are always next chances coming…
Scenario 1 (blue line // 70% chance)
The correction ended as described above. Since then trx is forming a impulsive wave structure on lower wave degrees. Most likely we are in wave 3, which will end soon to complete this cycle (wave 4 and 5) at the next key level on the upside: around 0.02780 (wave 1 of higher wave degree, green in the chart). The next entry point will be the end of wave 2 (green in the middle of the yellow circle). But this we have to decide later, and maybe we have to adjust it.
Scenario 2 (red lines // 15% chance each)
The correction started at all-time-high is not completed yet…
a) trx is now selling-off to complete the final wave 5 between 0.015 and 0.009
b) trx is going up to the next key level and from there it’s going to hell (0.015/0.009). If so, we are now in the correction pattern of wave 4 (abc, dark green in the chart)
Please leave a comment or a message, if you have any questions!
Take care
Tgo
HK-Capital-Management
seems that the blue-line-scenario pushed through, but not as I thought it would. I think we have seen wave 1 (green) already at 0.026, so we are now in wave 3 (green). One degree lower trx has completed wave 4 or is completing wave 4 (dark green), as you can see in the chart below.
BUT: as always, there is an alternative count in the chart! Maybe the whole structure is corrective. If so, we will see new lows, but the chance for this scenario is 25% in my view at the moment.
Take care,
tgo