Ripple is Pushing Onward!

in #ripple7 years ago (edited)

Previously we completed an ABCDE corrective pattern in a symmetrical triangle for wave 4, which led to the current impulse wave.

Now, it looks like we've completed the first and second Subwave of wave 5, and now we're onto our Wave 3.

We completed 5 Subwaves up making up the fractal for our first wave in the 5 wave sequence of wave 5.

Our wave 2 hit the 0.382 Fibonacci Retracement and we have continued onwards to new highs!

Now, if wave 3 hits the 1 : 1 extension it should top out around the upper $0.79 range, however there is no doubt that it could go higher.

For now, my target range for the top of the completed 5 wave structure has been widened due to the data of our new subwave structure. The 3.618 Fibonacci extension for wave 1 and 2 is around $0.816, however the 1.618 Fibonacci Extension for Subaves 1 and 2 is a little higher, right around $0.85. So either way, be on the lookout for the top. You have plenty of time to ride this puppy.

Once we have completed Wave 5 I expect a simple ABC correction that will retrace down to the 0.5 fibb. The highest likely zone of retracement is between the 0.382 and 0.618 fibonacci retracement zones, so a 0.5 retracement is a very healthy and likely retracement for this wave structure.

I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please upvote and comment any questions you may have below. Happy trading!

Here is my Trading View Channel if you'd like to follow me https://www.tradingview.com/u/Crypto_Currency/

If you appreciate my work, please feel free to donate !! I work very
hard to bring you the best data I can daily and bias free!!

Bitcoin - 1AzW1ki9ZXpDVBzreY9R5a1eNircQvXgvs
Litecoin - LP2D4ZLLpeYQRyuekxJLG6FLhr6WVepgea
Ethereum - 0x0d387F9f15Ff53813d51798DF41EA245aA6761A6
Bictoin Cash - LOL Btrash...

ripple.pngripple2.pngripple 3.png

Sort:  

Hey @iamltc, great post! I enjoyed your content. Keep up the good work! It's always nice to see good content here on Steemit! Cheers :)

Coin Marketplace

STEEM 0.21
TRX 0.25
JST 0.038
BTC 98320.57
ETH 3439.18
USDT 1.00
SBD 3.12