I had some free time and decided to create a chart analysis of a comparison of the Fibonacci retracement analysis of the latest impulse to the long term support and resistance levels that I rushed through trying to pick.
Notice how most of the S/R levels I picked were almost spot on with the Fib retracement levels typically presented in the analysis. I added a few non-TV-standard levels to the FR analysis, just for giggles (since I think XRP is about to make a big break). This leads me to think that this analysis may be a decent representation of what to expect regarding the resistances that will be encountered during the next move up. However, to be honest, I don't really expect these resistances to be major, if the previous major movement is any indication.
Notice how most of the S/R levels I picked were almost spot on with the Fib retracement levels typically presented in the analysis. I added a few non-TV-standard levels to the FR analysis, just for giggles (since I think XRP is about to make a big break). This leads me to think that this analysis may be a decent representation of what to expect regarding the resistances that will be encountered during the next move up. However, to be honest, I don't really expect these resistances to be major, if the previous major movement is any indication.
