We quickly recovered from that single bar dip yesterday and actually poked above Wave 1 high, though by a tiny fraction. Right now there are no technicals limiting us from more upward movement except for the Monthly Pivot.
LOI also recovered and made a new high, though again I am seeing a flat top forming again like I did yesterday preceding that short dip.
The crypto market as a whole appears to be up, with $XRP leading the pairs on Bitstamp and gaining another 0.31% over #Bitcoin.
I am expecting a move above the Monthly Pivot today at 0.69372, culminating at 0.73 by the end of tomorrow, though a 3-day impulse wave isn't outside the norm recently, so it could be as late as Friday.
I want to touch on the upcoming Wave 4 for a moment. With it so near the Monthly Pivot, and near the start of the month, I can see Wave 4 potentially testing the Monthly Pivot, which is also the 0.5 fib of the predicted Wave 3.
The only wave I try to capitalize on is Wave 5 and Wave A, selling at Wave 5 and buying at Wave A. Trying to catch a 0.03 move is tricky, and from experience I end up just loosing some of my overall position. The goal here is to build up as much XRP as possible. For those of you who can magically call the exact top and bottom, congrats, but I usually estimate Im going to loose 0.01 off the top and 0.01 off the bottom at a minimum.. so catching that 0.01 left of the 0.03 may or may not be worth the effort and risk to overall position.
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As always, this is my personal observation and analysis of the market and is not intended to be trading advice.
For future updates to this Analysis follow me here, or if you want to get more up-to-date updates to price action follow me on Twitter @ExsiliumI.
LOI also recovered and made a new high, though again I am seeing a flat top forming again like I did yesterday preceding that short dip.
The crypto market as a whole appears to be up, with $XRP leading the pairs on Bitstamp and gaining another 0.31% over #Bitcoin.
I am expecting a move above the Monthly Pivot today at 0.69372, culminating at 0.73 by the end of tomorrow, though a 3-day impulse wave isn't outside the norm recently, so it could be as late as Friday.
I want to touch on the upcoming Wave 4 for a moment. With it so near the Monthly Pivot, and near the start of the month, I can see Wave 4 potentially testing the Monthly Pivot, which is also the 0.5 fib of the predicted Wave 3.
The only wave I try to capitalize on is Wave 5 and Wave A, selling at Wave 5 and buying at Wave A. Trying to catch a 0.03 move is tricky, and from experience I end up just loosing some of my overall position. The goal here is to build up as much XRP as possible. For those of you who can magically call the exact top and bottom, congrats, but I usually estimate Im going to loose 0.01 off the top and 0.01 off the bottom at a minimum.. so catching that 0.01 left of the 0.03 may or may not be worth the effort and risk to overall position.
=======================
As always, this is my personal observation and analysis of the market and is not intended to be trading advice.
For future updates to this Analysis follow me here, or if you want to get more up-to-date updates to price action follow me on Twitter @ExsiliumI.
