Obviously this is a little bit more elaborated than the past few charts I've been posting, but that being said, XRP is still following its Wyckoff Pattern to a T. The lines are estimates and obviously in no way accurate representation on the exact price and date that these moves will happen.
Bitcoin is supporting ETH as it goes through it's 3rd quarter of its Wyckoff Pattern, at 4th quarter ETH will take a bite at it's new all time high, and I would assume Alt coins will follow and do their rotations afterwards
Wyckoff Patterns usually lasts for years but with crypto market and the "4 year cycle" narrative in play, the patterns are obviously going to be on steroids so trade with extreme caution.
If you have any questions, feel free to comment and I will try to answer them :>
I do not know, as much as saying that it follows a pattern seems risky to me, any portfolio that has about 100 million XRP does not worry about following a pre-established pattern and moves the market at will, there you have, for example, Chhis Larsen and Jed McCaleb Just to mention a few who have been selling millions of XRP`s, I don't think they agree to do it and follow the wickof pattern, I understand your joy in believing that you have found a pattern, but the reality is different. thanks for sharing.
christophbanks
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@VIDAL01MX unfortunately with the banks and different institutions in the picture, the market becomes a completely different system. You can google “Forex Trading Scandal” and different banks and companies getting penalized for manipulating markets. And crypto market is extremely susceptible to that since there are no clear regulation around it, now institutions don’t really trade the way most people trade and even those who have millions of crypto. these banks and institutions have all the resources they have who can control both demand and supply. a mere 100 million in crypto is nothing to them hence how tesla bought 1 billion worth of btc. also i dont get “joy” for doing this, im just trying to educate people who are the victims of these manipulation to at least give them sense for what they’re going into. My friends and family have been wrecked and lost money because they went into this market clueless. if you just read my post from the 17th and 19th i hope that would clarify some things
VIDAL01MX
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@christophbanks, Thanks for answering Bro, I agree with you. You have to educate yourself. Do you think it will go back to 0.76 dollars? I tell you because almost all analysts are already putting XRP in bull mode
christophbanks
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@VIDAL01MX big institutions and banks doesn’t trade with mere speculation nor hold in hopes that the price of their investments go up. thats too risky, how they treat crypto is how they treat forex trading, with triggers and action/reaction.
btc isn’t really akin to an investment but rather a Forex, if you want to know more and educate yourself then i suggest you should read about Forex or Forex trading
christophbanks
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@VIDAL01MX Well, that depends on what ETH and Bitcoin’s move are going to be, and where they’re at on their wyckoff, I’ll try to do a TA sometime tonight for ETH and XRP to see where we’re at. but here’s my opinion, i do think we will
jan1000
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kan je en dagelijkse update doen?
christophbanks
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@jan1000 i’ll try later tonight, i’m currently at work :/
u13227727
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Can you show the wyckoff method on Etherium please
christophbanks
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@u13227727 I will try to give an overview chart later tonight, but I’ll give you the gist of what might happen next to ETH, it’s currently on the correction phase of its Wyckoff, I think it will rally back to the previous all time high then have a very huge dip back to around $2000-2500 depending on how many people will panic sell, possibly in around June Q3 for S-corp company, then another bottom dip past that dip then go to new all time high with a huge fake out
cyberholz
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So many TAs out there, as far as I can tell you're the only one who has called this timely wick.
Will this Wyckoff Pattern lead XRP again to the $0.30 area or so once over?