Quick video at the request of one of my followers. I hope you and everyone else finds this video helpful.
Overall as with all cryptos at the moment, i continue to see bearish indication across all coins and that's the same here. I think we are approaching a level of resistance that will be tested and aligns with previous price action structure.
A break and close below this level could see price move towards the 2nd target without much resistance to stand it its way. However, as we inch lower, I believe the buying pressure will accumulate quicker as XRP at these levels are on super discount.
@NaviedKhvn, Sad, you need to check the 3 day chart w/ Bollinger bands and ichimoku clouds and macd.
You will find that there is no obstruction (no clouds) until .226
You will also find that the lower Bollinger band has not yet been touched and is still a negative - .14195
What goes through a green cloud must go through a red cloud!
What touched the top Bollinger band MUST TOUCH THE BOTTOM BOLLINGER BAND...
If you do not have the capability to display that chart...
go to BITSTAMP.NET
You do not need to register an acct.
On top right click on the blue TRADEVIEW...
on the top left... click on XRP USD...
In the indicators select alphabetically
Bollinger bands, Ichimoku clouds, macd
Gosh do you think I would take the time to respond?
Anyone in this market right now WILL LOSE MONEY...
Good luck
NaviedKhvn
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@WizardOfRealms,Seems like you got the right idea! I commend you for understanding! Great job.
But you’re wrong.
It’s called the S-curve simply because of its letter “S” shape. Its defining characteristic is the extremely slow exponential ramp up to the point at which growth “goes vertical”, and super-majority adoption is rapidly achieved. Throughout the 20th century every major mass-market technology that was near-universally adopted has exhibited some form of an S-curve
If one researches Bitcoin (or any Crypto) for any length of time, one invariably encounters the phenomenon of the bitcoin bubble. The price, after rising slowly but fairly steadily for a length time, suddenly explodes by 5–10% a day for a sustained period of time culminating in typically a full order of magnitude (~1,000%) increase over its previous value. This is known in Bitcoin circles as a “Bull Run”.
Basically, for anything new there is a mad flurry of excitement over potential applications, followed by the realization that most of them don’t work, followed by a slow learning of what does work, followed by sustained progress. Bitcoin is following this path but is also following a fractal pattern.
Fractals are a fascinating branch of mathematics, in which often relatively simple formulas evaluate to infinite complex patterns that repeat themselves over and over again at different orders of magnitude. Fractal mathematics are often employed in technical analysis of Forex markets and by high frequency trading bots.
Though I have not seen any work toward a definitive fractal formula that describes the way bitcoin’s price behaves, I believe there is ample evidence that a fractal pattern is present. It represents itself in the form of exponential bitcoin bubbles driven by Gartner Hype Cycles. I’d imagine there is enough to study in this area for several Doctorate dissertations.
Cryptocurrency is probably the purest example of speculative adoption humanity has seen to date. It is following a typical technological adoption curve at a rapid pace. The S-curve is made up hype cycles which repeat in a fractal manner. Each fractal repetition is roughly one order of magnitude greater than the one prior. Since reaching dollar parity, the percentage increase of each bubble over the last has been decreasing, even though the $ increase grows exponentially. There are likely 2–3 remaining hype cycles before Bitcoin becomes near-universally adopted.
What I'm saying is that this isn't an average market, those that don't know what they are looking at will lose money but those that do see will be the winners in the end.
WizardOfRealms
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@NaviedKhvn, good luck, appreciate your effort. neither of us want to waste the other persons time or skew their point of view.
Regards... may the fortunes be with you.
NaviedKhvn
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@WizardOfRealms, Hoping the same for you man! However, a read over my comment may be beneficial to your thought. I have seen indicators, but since I've been in this market (3 years) Long-term analysis usually fail me.
@WizardOfRealms, @NaviedKhvn, Enjoyed both your comments here. I have to be honest, I've heard of it, but i'm not familiar at all with ichimoku cloud. I would agree this is not the average market. You definitely need to keep the emotions in check!