$XRP - Bullish EW Impulse Series Faltering
Maybe those of us who believe in Ripple are not well loved by Santa... but push on as we must because there is no longer an alternative.
Wave 3 only hit the 1.0 fib ext of Wave 1, getting blocked by the Monthly HA Pivot. Wave 4, as it is, has retraced most of Wave 3. This is not normal and in fact, since Wave 2 was a complex wave Wave 4 should have been a simple wave. Instead, there are serious indications that we might be resuming the downward trend. At this point, even if Wave 5 did make a new high it would be limited by a number of technical restrictions and we would be better off just restarting the count here.
BEWARE! It is entirely possible that right now you are seeing the start of Wave 3 in a new bearish impulse wave, with Wave 5 ending below 0.30.
I break below 0.34167 should confirm that the bearish trend has resumed. The failure of the bearish impulse series spells impending doom.
Keep faith as we have printed a double bottom and this series, assuming a new bearish series, would end up printing a 3rd test of the bottom with the current math.
For the record, I am still holding from 0.31.
Wave 3 only hit the 1.0 fib ext of Wave 1, getting blocked by the Monthly HA Pivot. Wave 4, as it is, has retraced most of Wave 3. This is not normal and in fact, since Wave 2 was a complex wave Wave 4 should have been a simple wave. Instead, there are serious indications that we might be resuming the downward trend. At this point, even if Wave 5 did make a new high it would be limited by a number of technical restrictions and we would be better off just restarting the count here.
BEWARE! It is entirely possible that right now you are seeing the start of Wave 3 in a new bearish impulse wave, with Wave 5 ending below 0.30.
I break below 0.34167 should confirm that the bearish trend has resumed. The failure of the bearish impulse series spells impending doom.
Keep faith as we have printed a double bottom and this series, assuming a new bearish series, would end up printing a 3rd test of the bottom with the current math.
For the record, I am still holding from 0.31.
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