$XRPUSD Long Setup. $XRP hit good support at 0.24. After taking stops at 0.233 we've bounced and support is doing its job. I think we would aim higher and try to get to 0.38.
Good evening friends,
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If we compare this price action to 2014, then we should be looking at a retracement to 50% fibo for wave X and then a final wave down to form Z. Wave Z is at 78.6% fibo just like in 2014 and also the bottom of the channel since 2012
What if we were seeing an Adam and Eve Pattern forming on the Daily BTC. We saw this similar pattern in the 4hr hour breakout from 6.4 to 7.8k. There is a lot of resistance I know () but this could be a possibility if we break ~9.5k.
I think we are moving up to 9.1k. However there will be a lot of resistance due to daily Kijun, 23.6% fibo level, and Kumo. A small retracement is expected which I estimate to be ~8K. At that moment we would have to monitor BTC very closely since we could try to break 9k resistance again or drop to lower levels.
