Shout out to GJ for recommending an option 4, so here it is...
First, I want to mention that I DO NOT follow anyone else when it comes to Technical Analysis, and my targets are my own! Thanks to all of you who follow me, and a special thanks to all those that comment, if people don't comment and interact, then I begin to wonder if I am truly helping or should I just drift off on my own and do my own thing.. so, thanks for you feedback and likes! I really appreciate it!
I have (2) Fractals that I am following, and we are approaching an area here, where they begin to differ. 1st Fractal suggests price drops back and hits the "back-test" area that I posted on the previous chart. The 2nd Fractal does exactly what I am proposing on this chart...so, we will see which one prevails.
This bear channel should be familiar to those that follow me, since I have posted it in the past! "IF" price can maintain above $0.43 cents, then I believe it could stretch to the upper channel line, and then look to correct back down to that area for support...once it maintains support, then it could get very interesting next week, and potentially "BUST" out of the bear channel, and pursue the proposed target. If it does this, I will be very interested to see how it handles that target - 1) Will it begin to correct? 2) Will it break right through? Very interesting!
The Bears are getting "punted" in the nuts here, and it could get even worse! Those looking for a "gap-fill" might have to wait a bit longer, or chase the price as it keeps rocketing higher. What a bummer! That's NOT what you want to do as a trader!
Here's where the "wanna-bees" start plagiarizing my targets!
bought and held through the sideways grind between .22 - .30, this breakout feels like redemption to me. I personally see the $1 area as big resistance, but hey, if it blows past that to $1.35 I am fine with that
strictly
⋅
@DaneBrammage, Good job! When price is higher it feels like you can take a breath! Cheers Dane!
substantialJag90646
⋅
@DaneBrammage, I too bought in this range. I have hopes for xrp. I'm looking for the 7$ to 10$ range and maybe higher. Thoughts?
strictly
⋅
@substantialJag90646, I'll go! Yes, this range ($7-$10) should offer some resistance!
lvbbaehr
⋅
@DaneBrammage, Ive been coin stacking for 3 years I'm waiting for the $5 mark baby!
lvbbaehr
⋅
I like your chart! Maybe a retest of the top of your "Bear Channel" ? That would be a pretty large swing....Possibly it may retest that support much sooner after the breakout.
strictly
⋅
@lvbbaehr, Cheers mate! Sorry, I try to reply to everyone, and somehow I missed your reply...hopefully we break out of the channel this week and head to the higher target. Thanks for your reply!
gz1968
⋅
Are you expecting this wave (1) pump to finish at those numbers on the chart? Using the 2017 fractal, I get about $1.3 very roughly. How are you getting your numbers? I'm very interested, because if a person could time this wave, and the retrace wave (2), they could double their bags. I expect a 0.618 fib on the retrace.
strictly
⋅
@gz1968, Most likely it's a Wave (1), but keep in mind, it could also be an (X) Wave, which means we could still see some serious lows ie. $0.30, and my favorite is under $0.19 cents. I know that seems impossible, however; it could be XRP's reality. Basically, know this, "IF" price cannot make it above the $1.42 mark (and close above it - weekly chart), then it would open the door for the lower targets, period! I use indicators, channels and math to determine my targets, and it's impossible to explain! Someday maybe when I get a U-toob channel...