Hey mate I also projected a possible 8c bottom once it fell under 24c . . Are you basing that off what I considered being, that if we look back a year or more, it was previously at 8c and needs to double bottom on the larger timeframes before we see the upturn / bull run ? I also note Bitcoin is looking to bottom a little lower before its larger timeframe cycle back north . . Some projecting to 100k over the coming 2 - 3+ years. If bitcoin ever did that then XRP is sure to be a bread winner I would imagine.
AlcoTrades
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@kristommy2, In my opinion we are now in the acapitulation fase. When we drop below 24 like you said, we going into the despair fase. We will find a lot of liquidity below 12c. You will probably see a big stop hunt below 12c and eventually find a bottom around the 12/8c zone. It's always a guess where the bottom will be, but if you look at the 12/8c range, we could see a big support level when those trendlines coming together.
kristommy2
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@AlcoTrades, In your opinion and I realise none of us have crystal balls, though when do you imagine xrp will hit absolute bottom and then begin its bullrun ?
AlcoTrades
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@kristommy2, I think we will see a bottom this year. If I may take a guess, probably in the 3rd quarter.
kristommy2
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@AlcoTrades, How long do you see this bull run lasting ? Do you have an idea of how high price may go before tanking and selling off begins again. Everyone thinks this is the long awaited "bull run", though I still am weary and feel price is still going further south as we discussed previously.
AlcoTrades
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@kristommy2, We are still bearish on higher timeframes. This is a little correction. I see 45c as a maximum before we go tanking. People who think this is the beginning of the big bullrun will get rekt.
kristommy2
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@AlcoTrades, yeah much my sentiment.
XRP will follow bitcoin for now I think and have you seen how bitcoin is setup on the daily chart for a possible death cross and subsequent golden cross on 200MA.
then look here on the weekly, . . more than likely will find a 50 and 200ema support level that will surely bounce back into a bull run within the next month or 2.
I am quite positive that a lower bottom will found and I will then pull the trigger and buy XRP beacue there will be more profit in XRP I feel once bitcoin jumpstarts the bull run.
AlcoTrades
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@kristommy2, I see. My bet will be around 1200/2000 level on btc But we will see, its more a waiting game. Hopefully in the next bullrun, bitcoin and xrp getting more mature and dont depend to much from each other. 2 different projects and they still are coupled.