Lagging Weekly Indicators Confirm Start of Long-term Bull Market

3 ביוני 2019

The weekly on XRP looks very similar to when wave-B ended in early 2017. The Green 5 Smoothed Moving Average (SMMA) has crossed over the longer term Blue 13 SMMA, the AO momentum has went positive for the first time in 12 months after creating a sextuplet peak, and we've also broken a fractal above the Red 8 SMMA. The last time we had a bullish cross like this we went parabolic for an entire year. This seems to confirm our leading indicators saying that the bottom was near. Now the probability that we've rounded a long-term corner is very high and we could see some relatively violent price action to the upside starting this month. Wave-E will likely be somewhere between 62-100% of Wave-C in price on a logarithmic scale, and similar in time or slightly longer. This means XRP could go to somewhere between 15-150 within the next year or so. Many other cryptocurrencies should follow a very similar trend.