As you remember in my previous analysis, which I’ll put as related ideas, XRP bottom at around $0.105 USD, a bottom of a 2.3-year-old Bear Market. And now we are at the starting point of a new Bull Market on XRP.
Coming from the lows, we have a 5 wave move to about $0.205 USD, which I will label Minor Wave 1, then we have a 3 wave move to the downside to about $0.174 USD, which I will label Minor Wave 2, and then it seems we are making another 5 wave move to the upside. Of which we already made waves 1,2,3 and possible wave 4 and starting wave 5.
I’m going to call this new 5 wave impulse Minute Wave 1, which could be part of a bigger move called Minor Wave 3. That precedes the previous move called Minor Wave 2. The target for Minute Wave 1 is unknown, but looking to the volume profile, a good guess will be at around $0.275 USD, although it could either fall short of that or go all the way up to $0.30 USD or a little higher.
After that I will expect Minute Wave 2 to materialize to the downside going into the Bitcoin Halving. For some reason, it seems to go down over the weekends. So maybe we will rally until Thursday or Friday, and then go down until the Bitcoin Halving on Tuesday next week. And after that we start Minute Wave 3 to the upside with a target above the February highs. It is not a prediction, but a scenario I’m looking at.
For Bitcoin I’m looking to a similar scenario and wave count, a rally to a little above 10K an then a drop into the halving.
Will see what happens
Good Luck in your decisions
Coming from the lows, we have a 5 wave move to about $0.205 USD, which I will label Minor Wave 1, then we have a 3 wave move to the downside to about $0.174 USD, which I will label Minor Wave 2, and then it seems we are making another 5 wave move to the upside. Of which we already made waves 1,2,3 and possible wave 4 and starting wave 5.
I’m going to call this new 5 wave impulse Minute Wave 1, which could be part of a bigger move called Minor Wave 3. That precedes the previous move called Minor Wave 2. The target for Minute Wave 1 is unknown, but looking to the volume profile, a good guess will be at around $0.275 USD, although it could either fall short of that or go all the way up to $0.30 USD or a little higher.
After that I will expect Minute Wave 2 to materialize to the downside going into the Bitcoin Halving. For some reason, it seems to go down over the weekends. So maybe we will rally until Thursday or Friday, and then go down until the Bitcoin Halving on Tuesday next week. And after that we start Minute Wave 3 to the upside with a target above the February highs. It is not a prediction, but a scenario I’m looking at.
For Bitcoin I’m looking to a similar scenario and wave count, a rally to a little above 10K an then a drop into the halving.
Will see what happens
Good Luck in your decisions
Operación cerrada: precio stop alcanzado:
My Short-Term Elliott Wave Count on XRP has been invalidated.
Anyway, I'm still mid-term bullish on XRP and XRPBULL, until about June 19 of this year.
Good Luck to You
Anyway, I'm still mid-term bullish on XRP and XRPBULL, until about June 19 of this year.
Good Luck to You
