ags92

XRP wave 1 Bullish cycle start now or not until later this year?

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BITFINEX:XRPUSD   瑞波幣
A lot going on with this chart but the main take away is we are looking for the final E leg of the abcde combination correction that started from the peak in 2017 at ~$3.50. The Red "fair value" channel is holding support, golden cross, market is ranging in this area but stoch rsi is oversold. Bullish divergence on Volume. I have drawn 2 projected paths. Failure to break black trend line and break of red channel could send XRP back to .18-.19 level. Break above trend line and out of falling wedge pattern would signal start of wave 1 on Daily timeframe and mark the beginning of the next Bullish market cycle.
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