If you check my previous TA, I predicted that Ripple would breakout in a bullish continuation, and it did: for a bulltrap. It came down all the way to this area it is now, with what seems like no end in near sight.
I believe we are approaching very close to the end of this downtrend. I was wrong on my expectations for Ripple a week ago, but I believe I may be on track to see what is actually happening, this time around.
I entered high, almost 19k sash, believing it has broken out of the flag, with MACD just a hairline from passing and boom...bulltrap. Or manipulation to hold the breakout off?...either way, I am HOLDING.
Judging by this daily chart, I believe that we will retrace to the 61.8 fib area, very close to 9,600 sash...it will hopefully just test this area and we should expect a huge bounce back up. I know, all of our accounts are really down...but I believe that if ~9600 sash gets tagged, and does NOT break through lower or hold, and then breaks out down trend line on the daily. We will see an uptrend to the 5 dollar area!
Knowing this now, I wish I had held off and 100% had a confirmation of a breakthrough, but I got too excited and jumped on the bulltrap.
Bulltrap is written in a nice downtrend on this description, ahaha!
I am holding through. Unfortunately, I do believe we are bearish these next 2-5 days. I think monday, January 15th, we might begin to see a reversal.
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.618*
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Broke bearish trend line, first zone was tagged and now we have a reversal in trend. It may retest this line before a new uptrend is made!
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Looks like we are coming to retest that lower area of .618!
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Touched my predicted area (passed it), but came up. Grats if you picked some up here!