QUICK UPDATE: D4s Take On RIPPLE (XRPBTC) - When to Buy?!
Updated
Dear Crypto-Family!
D4rkEnergY is getting a ton of request from you guys to analyse different altcoins, so he has now decided to make a new series called: D4s Take on...! This is meant to give you a quick update on the market. D4rkEnergY will not dig super deep into the coin pair. We will do that on the other charts. D4 hopes you will like it anyway, it will definitely help you to gain a good understanding of the market.
So let's do it! We are here taking a look, at the 1D XRPBTC Chart. As you can see, we had this crazy parabolic run in December and January. Since then we are in a middle of an ABC-correction.
I will say, that I am still pretty bearish on Ripple at the moment. Ripple has not doing well lately. Also compared to the USD, where we have been making out with the 78,6 % Fibonacchi level for quite a time. We managed to fuck up 2 times the last 2 weeks, where we had a good opportunity go into a reversal, but you guys were lucky, cause D4 warned you about bearish divergence.
Back to the XRPBTC pair. We are now under the EMA200, and we don't see any bullish signs what so ever. Bitcoin on the other hand has been doing pretty good, and are in the process of climb the ladder and finish the 5th Elliot Wave. Even worse for Ripple, BTC is on the 3rd Elliot subwave, so expect therefore, that Ripple will go even lower.
The green box is your buy zone. The reason for that is based on previous price history, the MA200 and the 78,6 % Fibonacchi Retracement level! But keep monitoring your chart.
D4 loves you <3
Please do me a favor and hit that LIKE button and FOLLOW. It really encourages me to make more updates and analysis for you guys. Thanks in advance, my friends! <3
D4rkEnergY is getting a ton of request from you guys to analyse different altcoins, so he has now decided to make a new series called: D4s Take on...! This is meant to give you a quick update on the market. D4rkEnergY will not dig super deep into the coin pair. We will do that on the other charts. D4 hopes you will like it anyway, it will definitely help you to gain a good understanding of the market.
So let's do it! We are here taking a look, at the 1D XRPBTC Chart. As you can see, we had this crazy parabolic run in December and January. Since then we are in a middle of an ABC-correction.
I will say, that I am still pretty bearish on Ripple at the moment. Ripple has not doing well lately. Also compared to the USD, where we have been making out with the 78,6 % Fibonacchi level for quite a time. We managed to fuck up 2 times the last 2 weeks, where we had a good opportunity go into a reversal, but you guys were lucky, cause D4 warned you about bearish divergence.
Back to the XRPBTC pair. We are now under the EMA200, and we don't see any bullish signs what so ever. Bitcoin on the other hand has been doing pretty good, and are in the process of climb the ladder and finish the 5th Elliot Wave. Even worse for Ripple, BTC is on the 3rd Elliot subwave, so expect therefore, that Ripple will go even lower.
The green box is your buy zone. The reason for that is based on previous price history, the MA200 and the 78,6 % Fibonacchi Retracement level! But keep monitoring your chart.
D4 loves you <3
Please do me a favor and hit that LIKE button and FOLLOW. It really encourages me to make more updates and analysis for you guys. Thanks in advance, my friends! <3
Note
Poor, poor RIPPLE! As D4 told you yesterday, we are not seeing any bullish signs what so ever. D4 is still bearish on Ripple. Don't touch it before it goes down in the buy zone I drew from you.As you can see it it right now in a descending channel, and it seems like it will just fall even lower.
Look at the MACD, how the bulls 3 times rejected the bears to make a bearish MACD-Cross.
I also want you guys, to pay attention to the RSI. Because this is a very important lesson you can take with you. Just because a coin is oversold, it doesn't mean it's always a good idea to buy.
Sometimes there is a reason for that. Maybe it's just a shitty coin, that never will go up again. That's not the case with Ripple though. Ripple will go higher eventually, but be patient. This is a patience-game.
D4 loves you <3
Do me a favor and give me a LIKE and FOLLOW. Thanks, friend!
Note
D4 is warning you. D4 is still bearish on Ripple at the moment. We have seen these volume spikes before from Ripple. I wouldn't enter a position now.History has shown us that these spikes doesn't necessarily means a reversal. Still sticking with the plan so far. BTC is so far still a better holding in my opinion.
D4 cares about you <3
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