$XRPUSD Fibonacci Retracement after $2.03 - April 13th, 2021

13 abr 2021

Assuming my prior chart (linked below,) that I updated earlier remains intact, here is the retracement zone assuming a completion and top of the run to the 4.236 extension for what appears to be Wave 1 of the super-cycle at $2.03~. Granted, there are no guarantees in life, only probabilities. That said, with the bullish strength demonstrated hitting the top-end of the Fibonacci extension for this super-cycle, we will likely see a minimal retracement further reinforcing the strength of this bullish breakout. For statistical likelihoods on where the retracement could extend to, I refer you to google to search and learn more about Elliott Wave Theory. Or, Avi Gilburt of ElliottWaveTrader.net and his services and past articles which outlines the basics. He's a fantastic EWT analyst in my humble opinion which exemplified the importance of psychology and how it appears in the markets.