Elliott Wave Analysis: XRPBTC May Retest 2017 Lows
Hello Crypto traders!
Today we will talk about XRPBTC cryptocurrency cross pair as we see an interesting development.
Well, XRPBTC is down since the beginning of 2018 and we see it trading in third leg C, but wave C is a motive wave and it has to completed with five waves, ideally as part of an ending diagonal (wedge) pattern, which can retest 2017 lows before we will see a bullish reversal.
Something similar has already happened between 2015 and 2017 and if we consider that BTC.Dominance is trading at the lows and strong support, then we would not be surprised if XRPBTC remains in the downtrend for some time.
Be humble and trade smart!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Today we will talk about XRPBTC cryptocurrency cross pair as we see an interesting development.
Well, XRPBTC is down since the beginning of 2018 and we see it trading in third leg C, but wave C is a motive wave and it has to completed with five waves, ideally as part of an ending diagonal (wedge) pattern, which can retest 2017 lows before we will see a bullish reversal.
Something similar has already happened between 2015 and 2017 and if we consider that BTC.Dominance is trading at the lows and strong support, then we would not be surprised if XRPBTC remains in the downtrend for some time.
Be humble and trade smart!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
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