XRP/USD Correction may not be over but bottom likely in

Looking at the bigger picture of XRP we have almost certainty finished our full Elliot wave super cycle but the question is have we completed the correction? I am on the fence but after a local impulse wave failure at $1.22 I am leaning towards further correction. If this is the correct scenario we will see a final wave C down but I do not think we will get a lower low or a double bottom due to the yellow trend line . The intersection of the trend line and the 0.786 fib should create a lot of support which is why I don't see a lower low likely especially if BTC 5.18% continues to uptrend. We also have the lower degree wave 1 top within pink support region further adding to it's strength. Taking these levels into consideration we should see a massive bounce off them to kick off our 2018 bull run which will be wave 3 in a grand super cycle and remember wave 3 is often the strongest and never the shortest (meaning this could be a bigger bull run than 2017).

Thoughts and comments are appreciated and be sure to like and follow if you want to follow this trade.

* This is not financial advice*

تعليق:

Hi guys, with BTC rallying and about to break above its downtrend channel there has been virtually no response from XRP which reaffirms we are likely to correct.

تم فتح الصفقة:

We have the correct scenario, if you shorted well done, if not we can ladder in buys between $1.00-$0.80. Major supports are $1.00 and $0.80. Trade safe.

تم فتح الصفقة:

Analysis of the local impulse wave shows the golden pocket is right on the $0.80 mark so we should get a strong bounce off there if we get to that level.

تم فتح الصفقة:

We will reach the 90 cent area soon and likely find some sup8plrt if btc goes down to 9k we will find ourselves at our 80 cent buy zone

تم فتح الصفقة:

Target reached next stop $0.80. I believe we will get there when BTC dips to 9k before we get a bounce. Trade safe