Rebound retrace inception, follow the 0.705 for XRP targets

BITSTAMP:XRPUSD   Ripple幣 / 美元
12839 36
Selloff rebounded perfectly to the 0.705 OTE zone, and while ripple at first formed a nice bullish pennant , it fell out the bottom as bitcoin was more bearish and pulled everyone down again. So if we're still going up in the mid-term, I'm looking for the reversal to happen at the 0.705 retrace of the rebound itself. Then we can continue on to the $2.10 sell target. Of course -- if bears don't have it in them to dig all the way down, we could end up reversing on the 50% fib (instead of just dead cat bounce), so be ready to move your bids up just in case the bulls get antsy...
交易進行: think that's it for this small breather. BTC is forming a textbook bearflag before continuing down, and notice how we retraced 0.5-0.382 fibs just like on the way up. The descent, however, is much more slow and controlled, so the touches are more precise.
交易進行: dumped as expected, just waiting on another leg to reach bottom
交易進行: aaaaaaand touch
交易進行: aaaaand rebound. expect a pause/pullback at when approaching the yellow downtrend line. Maybe 5-wave impulse like this to the target high
交易進行: All the drama in bitcoin wrestling with 10K barely registered with ripple, and we held the 1.14 OTE zone just fine. Note that we're not digging as deep and rising faster than BTC, thus the uptick on the XRP/BTC ratio as well
交易進行: as usual, XRP is waiting on BTC for every move. And we're stuck for a bit under the 200MA. I had expected us to push up against the yellow downline, but now I'm thinking any push up from BTC will cause XRP to pop above that downline and then flag on top of it
交易進行: think I've got a new high target for this rally -- $2.25
would be a full retrace of to the tip of the stiff pump spike on Jan 11th, also the 1.618 extension fib of the rebound, AND a tidy measured move, where the rebound up from $0.87 rose 100%, this would be an identical 100% move from my 1.14 OTE buy zone.
評論: ripple just can't go anywhere without bitcoin's lead, so being pressed up in this triangle, against the ceiling, isn't producing any breakouts yet :P

Wouldn't surprise me at all if we dropped a bit to fill out the larger triangle bottom from the recent low, before finally breaching. Shake the weak hands one more time.
交易進行: probably one more day before impulse, and there's the touch of the bottom. watched 1.29 get carefully kissed live on the ticker ;)
交易進行: We are at maximum ambivalence. Totally settled on the 50% fib. Perfect consolidation. Time for liftoff...
評論: Yes, XRP is drifting down out of it's triangle. No, I'm not worried. It literally ran out of room inside the triangle while waiting for bitcoin to make an impulse. Had nowhere to go during this sideways (9 more hours until CME futures expire). It's still tracking BTC and it's willing to violate its own TA to do it :P
Anything new on this one? Thanks
+1 回覆
good job!
As a starter i found the explanation too technical for me..Though i have understood ripple will lift up to reach 2.25.Plz help me correct if Im wrong.
What’s a good stop to put stop limit for this take off? Thanks
Should I take it now?
Should I take it now?
ron fking swanson
rock star nick name
rock star TA
will it rise or fall?
my precious teacher Shan touched the place you said I should sell Or is it just my order please tell me your comment Waiting to sell it?
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