BTC on the 4-HR is showing higher lows on the CCI with the RSI remaining relatively neutral. This is a bullish indicator for me, though a brief dip to $7800 is not out of the question. I'm expecting the $7800 support to hold, and for BTC to gather strength from there while remaining in the falling wedge. In the near term there may even be a slight price boost to...
I've felt that XMR's bottom has been near. Breaking down the chart to the last few days since breaking below the neckline of the H&S formation we can see that Monero is starting to bottom out. It is at this point now that I project the bottom is in, and that a great buying opporunity is to be had. XMR has made a nearly 100% retrace (But below 99.9%) from the ABC...
BTC's bullishness is undeniable at this point. If you're in the bear camp you're in denial. Bitcoin is looking to ramp up the action with a break above 10k bringing acceleration to Wave 3. We'll be looking for BTC to top out Wave 5 around $14.7k before entering a corrective phase for further action.
BTC's bipolar attitude continues, but we're starting to see the makings of a shallow up trend. There's still potential to see a dip to $8.9k, and anything below that could drag us to $8.5k rather easily. If you decide to take Bitcoin positions please use appropriate stops.
XRP bounced off the $0.90 support perfectly. Ripple is showing a strong bounce right now, but is still in the downward channel. If XRP breaks out of the downward channel we can expect that it will attempt to push to $1.22 again.
XRP made a run and peaked at $1.22 during the night. From here we'll look for a correction to test the, now support, at $0.90. If this support level is broken the next support level is at $0.72. Invalid if XRP moves above $1.16.
BTC has failed to break the resistance at $8.5k twice, and is currently moving to attempt it a third time. It is unlikely BTC will break this resistance level, if it does it is likely to fail to break the resistance at $9k. Once BTC bounces off this resistance it is likely to retest the support levels at $7.0k-$7.2k. It should bounce off this support, but will...
XRP is trying to break the $0.82 resistance. Ripple will face resistance all the way to $0.90 where it will be strongest. If XRP fails to break the $0.90 resistance a move back down to retest support at $0.69 is likely. The most concerning point is XRP's similarity with the BTC chart showing this to currently appear as a bear flag as well.
BTC has followed by previous Elliott Wave prediction fairly close. Now that BTC is back up to $8.5k it is going to be facing the previous resistance that pushed it in to wave 4. If BTC can break this resistance it will continue on to the target of $9.5k. If it fails to break this resistance a pull back to the $7.2k - $7.4k area is likely, and a return to the bear...
XRP is following in BTC's pattern almost exactly. As such this is a critical resistance level for XRP as it is for BTC. We can expect XRP to retrace to the $0.65 region if it fails to break this resistance, or if BTC fails to break the 8.5k resistance, and retraces. As such no trade is recommended on XRP at this time.
BTC has now given enough information for a more refined analysis. We are currently near the peak of Wave 3 with the CCI curling down after breaking +100 on the 2-Hour, Wave 4 should see a pull back to $7.4k-$7.6k. Culminating with Wave 5 at around $9.5k. Invalid of Bitcoin drops below $7k. Trend reversal is still possible until Bitcoin moves above $10.5k.