We just finished Wave 5 and are currently in a correction wave. This correction wave hit the 0.382 fib perfectly and is currently range bound in a potential WXY formation.
Bitcoin (BTC) and Litecoin (LTC) is currently down 4% and, with the downside potential remaining, there is a high probability of them dragging Ripple (XRP) also.
If we extend the larger degree wave out to the 1.0 fib, we end up at 0.22902 which is right between the Monthly S1 and Monthly HA(S1).
The correction wave is currently limited by the Monthly (P+S1)/2 Pivot and the 0.382 fib of the larger degree wave, but it could in theory go up to 0.307 where the Monthly HA(P+S1)/2 sits, though I highly doubt it due to the current fear level in the market.
I am currently out of the market, with one of my buy orders filled at 0.26862 last night at 0.26862 (this was the 1.0 fib of Wave 3)and selling at 0.27583 for a quick 3% gain. I did pull the trigger a little quick on selling as I set my limit order at the 0.382 of Wave 5, not of the higher degree Wave.
Bitcoin (BTC) and Litecoin (LTC) is currently down 4% and, with the downside potential remaining, there is a high probability of them dragging Ripple (XRP) also.
If we extend the larger degree wave out to the 1.0 fib, we end up at 0.22902 which is right between the Monthly S1 and Monthly HA(S1).
The correction wave is currently limited by the Monthly (P+S1)/2 Pivot and the 0.382 fib of the larger degree wave, but it could in theory go up to 0.307 where the Monthly HA(P+S1)/2 sits, though I highly doubt it due to the current fear level in the market.
I am currently out of the market, with one of my buy orders filled at 0.26862 last night at 0.26862 (this was the 1.0 fib of Wave 3)and selling at 0.27583 for a quick 3% gain. I did pull the trigger a little quick on selling as I set my limit order at the 0.382 of Wave 5, not of the higher degree Wave.
