BustersCharts89

BustersCharts89

Not a holder of this crypto, but BCH/USD is one of the late bloomers this cycle and is completely poised for launch. Full 4.236 Fib extension using Coinbase Highs and Lows predicts an absurd value of nearly 18k. Regardless of chasing 18K, you can see that this crypto is locked and loaded - even with today's price movement it is still under the "spring" and is...

BustersCharts89

We posted a few days ago that the next 48-72 hours, XRP would have to either obey the trendline and head higher, or obey the fractal and head lower. After a few days of coiling and delaying its decision, XRP broke to the upside today, briefly nearing $1.06, but settling back down to around $1.00 and trudging slightly higher throughout the day to where it sits now...

BustersCharts89

For my conspiracy nuts, we have the following occurring: 1. Economic calamity in China not dissimilar to the US crisis in 2007-2008. 2. Fed members suddenly being "forced" to sell their stock holdings for "ethical" concerns. 3. Fed chairs/governors resigning. 4. Debt ceiling "concerns." 5. Winter Covid surge incoming to Northeast. 6. A housing bubble (U.S.) 7....

BustersCharts89

Today we are taking a look at XRP on the 15 minute chart, looking at the last 10 days or so of trading and the fractal for the upcoming week. We see that XRP has risen and fallen in accordance with the fractal that it has been mimicking for months now. We also see that, while it seems to move in accordance with the fractal, XRP respects the fibonacci trendlines...

BustersCharts89

In just 2 hours and 15 minutes, XRP will make its daily close (8:00 PM EST). This is an extremely basic, but fun chart. The high closes create the descending top line, the low closes create the ascending bottom line. They form something of a wedge and they intersect today. What will happen? Which line will be respected more? 1) XRP will close above 0.92115,...

BustersCharts89

Today we are looking at XRP with 2 hour bars. We are still going off the same chart we have been for all of these posts so far. Luckily, it looks like XRP is too. But the question remains, where exactly are we? More accurately, WHEN are we in the fractal? A big decision is coming for XRP, and we will see it within the next 48-72 hours. The fractal and the...

BustersCharts89

After tagging our buy range of $0.86-$0.91, XRP (and the market generally) has rebounded. Was that the full A-B-C correction? E-Wave analysis suggested the correction could have cut deeper to around $0.80. It still might. We don't know, and we aren't afraid to say that - today's post will summarize our thoughts on why that is and what we are looking for in the...

BustersCharts89

Please see the linked idea below for yesterday's post. Again, last week (and perhaps the week before) we selected $0.86-$0.91 as a great prospective entry point based on the fibonacci retracement levels, the fibonacci channels, and the fractal overlay. It struck that range twice, and bounced up to where we stand now at around $0.93. Today we are looking at that...

BustersCharts89

Last week, we posted a number of charts showing how XRP was behaving within fibonacci channels (that we created to complement the fibonacci retracement levels). We said we were looking for a dip to $0.86-$0.91 and we would back up the truck. It dipped to that exact range, hitting $0.87ish. We backed up the truck. We brought in a second truck and backed that one...

BustersCharts89

Today we will stick with the 1 hour bar time frame on XRP and continue to look at its movement within the Fibonacci Channels (lines) that we created using the Fib Retracement Tool, see linked idea "XRP Twist on Fibonacci" below for an explanation on how we came up with this idea. The channel range today is $1.06-$1.23, with a break below we are looking to back...

BustersCharts89

Backing the chart out to 1hr candles for a little further perspective while we watch XRP decide which channel it wants to go to. Current values for this channel today are $1.05 - $1.21. Still looking at that buying opportunity in the $0.86-$0.90 range if we break through support at $1.04. Also note some long term resistance/support at around $1.07, looking back...

BustersCharts89

Today we are stepping back out to the 30 minute time frame for a slightly larger picture and examining the Fibonacci Channels created as described in our original post on this idea. Lo' and behold, look at where support held. Right on the trendline. Further confirmation that these channels are correct and confirming the bull run that we will go on for the next...

BustersCharts89

Good Morning, please see the original chart (Sep 7, 2021) for information and explanation about how the channels were created in connection with fibonacci retracement tool. Today we will be continuing to look at XRP using the 15 minute time frame, and we are in the same position as yesterday. We are looking at upper resistance at about $1.19 and lower support at...

BustersCharts89

Please see the original idea from September 7, 2021, linked below, to understand how I created the Fib Channels that we are working with here, which appear to be governing XRP's behavior. The outlook for the rest of today remains the same as yesterday. XRP is consolidating within the fib channel, ranging $1.02 - $1.18. A break below $1.02 will see us testing the...

BustersCharts89

In yesterday's post, linked below, I posted a link explaining my chart,with the fib retracement and extension tools, and then trend lines drawn from the breakout to the fib retracement values at cycle's end. A description for how to "create" this chart is in that post. Today, we are setting the timeframe to 15 minutes and looking at exactly what transpired in...

BustersCharts89 Updated 

I want to start with how I created this chart. Not because this is a tutorial, but because it is important to understand what it represents and why it is just more than a bunch of random trend lines. THE SET UP: 1. View chart in Log. 2. Set timeframe day. 3. Use Jan 4 2018 High of 3.317 and March 13 2020 low of 0.114 to draw a fib retracement, use 12/11/21 as the...