Get started

Elliot-wave

XRP LEG2 ABC CORRECTIONhello guys i hope you are well this time i think that the leg2 of elliot waves must do an ABC correction PATTERN. instead of doing just a correction from 0.50 to 0.45 xrp is doing the ABC PATTERN. why this happens? well because it didnt have to much power to convert the normal down trend in an upsidetrend inmediatly, and this happened 90% of times in al crypto market. some times that 10% its just a big pump as we remember in july 2021 or the Bigest Bullrun in history in february march last year.
BITFINEX:XRPUSDLong
by CoinPlusTrader
1
Compound next price targetAfter correcting above the trendline 525. Price will first either either correct to 600usd. If this happens several possibilities will unfold. 1st a 3-wave pattern triangle might form to quickly give d market a push above 600, then straight way to next target. 2nd, if by chance it fails due insufficient liquidity, might descend to form an ascending channel of 3-5wave pattern, a rectangle of which a breakout will terminate the pattern to move to target. Lastly price moves so fast to target, it's gonna need a lot of bullish pressure to keep it above target of which if d buy orders keep on limiting will result in a mini crash to complete d correction it suppose to have done at 525. This will bring us to the beginning of a new market pattern of descending triangle between target and breakout of which may be continuous or discontinued by a divergence leading to another Elliot wave case event. In summary, a breakout candle is okay to which a bare correction will be needed to satisfy Elliot wave be heading to target. A slight correction is better which will move price to target and leading higher price target.
Long
by profit_hunter259