R.I.P. PLE - The bloodshed continues
Updated
After my previous analysis on RIPPLE was a bittersweet victory - althought the initial stop loss was triggered and RIPPLE reached new high - all of three targets I marked on the chart were hit perfectly - 2.1, 1.7 and final 0.9, giving very good and profitable outline for XRP shorts.
This time I think we have very interesting and uncommon structure - the extended zigzag. According to Elliott, all extended waves have +4 to their original wave count, so extended zigzag should be 3+4=7 waves.
Right now we have slight rebound after this short, drastic fall. Targets for entry and rebounds:
Sell entry (safe): 1.26
Sell entry (bit greedy): 1.31
Target 1: 0.9 - rebound expected after that
Final target (most possible): 0.6
Final target (extreme): 0.4 - if that target is reached, very strong rebound will happen in minutes after reaching it
I'll update the targets when the situation will unfold.
If you are interested, you can also see my Bit.coin short analysis.
This time I think we have very interesting and uncommon structure - the extended zigzag. According to Elliott, all extended waves have +4 to their original wave count, so extended zigzag should be 3+4=7 waves.
Right now we have slight rebound after this short, drastic fall. Targets for entry and rebounds:
Sell entry (safe): 1.26
Sell entry (bit greedy): 1.31
Target 1: 0.9 - rebound expected after that
Final target (most possible): 0.6
Final target (extreme): 0.4 - if that target is reached, very strong rebound will happen in minutes after reaching it
I'll update the targets when the situation will unfold.
If you are interested, you can also see my Bit.coin short analysis.
Note
@1.31 5:18 UTCIf you haven't started shorting, now is the good time to start. Target at 0.97-0.9
Note
Well, that was probably the most boring 10 days in crypto in last year. Take profit targets:(1) 1.02 - smaller wave reversal
(2) 0.78 - bigger wave reversal
Note
@0.9725 18:33 UTC 01.02.2018Well, that 1.02 small reversal was right on point. :)
But I think we will have bigger reversal at 0.89, so prepare to finish your orders.
Note
@0.8388 07:07 UTC 02.02.18Remember our final target before bigger correction at 0.75-0.8
Note
@0.65742 19:38 UTC 05.02.2018Brace yourselves, final target is coming.
TARGET: 0.47-0.4
After that, we should get big rebound, but still inside the bear market. If you plan on holding long term - DO NOT.
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