Ripple XRP Fake Rally Phase over and Going up Again?
Updated
The previous analysis after the pump where XRP' dropped quite a lot after the pump, i mentioned that it was likely to be a bad sign and an indication of a fake rally. Eventually we dropped almost back to the low again. The reason why i said that, was because after a big strong pump we had back then, it should never make such a big correction that fast again.
Anyway, at the moment we can see a possible inverse H&S in the making for the USD' pair and the BTC' pair. Both still do not have a right shoulder though, so based on that it is likely that we see a small drop again. My only fear with this is, what will Bitcoin' do if we drop back to the 0.30ish. Because Bitcoin' really needs to stay above the 3380/70. So the only way for that to happen is if alts drop a bit with a sideways Bitcoin'. Because if Bitcoin' drops below that level, the impuls of the current wave up will get invalidated again. So not easy at the moment, since alts make big moves up and down lately with Bitcoin' moving 20/40 points. When ignoring Bitcoin' it will be very likely to see something the blue line happen. Just be aware, it's almost weekend and manipulation is always the most during weekends.
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Previous analysis:
Anyway, at the moment we can see a possible inverse H&S in the making for the USD' pair and the BTC' pair. Both still do not have a right shoulder though, so based on that it is likely that we see a small drop again. My only fear with this is, what will Bitcoin' do if we drop back to the 0.30ish. Because Bitcoin' really needs to stay above the 3380/70. So the only way for that to happen is if alts drop a bit with a sideways Bitcoin'. Because if Bitcoin' drops below that level, the impuls of the current wave up will get invalidated again. So not easy at the moment, since alts make big moves up and down lately with Bitcoin' moving 20/40 points. When ignoring Bitcoin' it will be very likely to see something the blue line happen. Just be aware, it's almost weekend and manipulation is always the most during weekends.
Please don't forget to like if you appreciate this
Previous analysis:
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New XRP analysis:
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