INTERPRETATION
XRPBTC
analysis is generally an alt coin that is avoided due to its exposure, negative coverage, & volatility. However, upon inspection, this report could not be avoided as an entry at this position may result in profit. Assuming that the previous long corrective wave is over (which is may not be), this may be the start of a bullish run for Ripple with the start of the Elliott Impulse Wave augmented by recent positive press.
*Note: entry here would be high risk due to lack of buy signals but would yield the highest profit potential should bullish prediction holds true
BUY SIGNALS
-possible Elliott Impulse Wave beginning
CAUTIONS & CONFIRMATIONS
-T&K, Price, Cloud status following support testing
-RSI heading down likely to result in some further decline before upswing
POSITION
entry @ 11200
XRPBTC
analysis is generally an alt coin that is avoided due to its exposure, negative coverage, & volatility. However, upon inspection, this report could not be avoided as an entry at this position may result in profit. Assuming that the previous long corrective wave is over (which is may not be), this may be the start of a bullish run for Ripple with the start of the Elliott Impulse Wave augmented by recent positive press. *Note: entry here would be high risk due to lack of buy signals but would yield the highest profit potential should bullish prediction holds true
BUY SIGNALS
-possible Elliott Impulse Wave beginning
CAUTIONS & CONFIRMATIONS
-T&K, Price, Cloud status following support testing
-RSI heading down likely to result in some further decline before upswing
POSITION
entry @ 11200
Wave 2 was initially speculated to end at either Wave 1 retraced to the 0.5 Fib @ ~11230 or 0.618 Fib @ ~10780. Conservative investors should exiting their position to minimize further potential losses. Considering the volatility & inconsistencies of XRP, bearish sentiment has not been deemed absolute. It is not unreasonable to hold (or add an additional position) current positions until further evidence is given. This statement is sensible as those who entered the initial position are investors willing to take high risks & would be more willing to continue holding (as stated in the previous analysis).
CAUTIONS & CONFIRMATIONS
-Bearish: Stop-loss triggered w/Price-Cloud Bear entry & breakout. Price-T&K bear cross remains.
-Bullish: Possible true Wave 2 incomplete & will reverse soon. RSI approaching oversold. Selling volume decreasing.
-Neutral: T&K stacked awaiting signal. Other intervals show inconclusive evidence to predict future movement.
POSITION
Hold @ 11200 (stop-Loss @ confirmed bear run +/-10500)
Entry @ 11500 (suspected Wave 3 bull run)