In this video I analyze the scenarios the XRP chart is facing right now leading into a new bull market cycle. I outline the measured moves if we break to the downside, and the potential that we are still pressing up against the 200 moving average on the 4-hour time frame chart. This could break either way, and in my opinion, trading is incredibly risky down here. But to present every scenario I see, I have outlined what prices I could imagine seeing if this structure continues to range longer, and price does not break above the 200 moving average on the 4-hour time frame chart.
Either way, if we break out to the upside now, or do a dip back down, I do not believe new lows will be set, and we are on the absolute verge of the start of the new bull run market cycle.
As I mention in all of my videos, I am not a financial adviser and this is not investment advice. I am not a trader giving trade calls. I’m accumulating for the grand cycle, looking for where it can begin.
I had several requests for downside targets, and whether or not any of those play out, these are the ones I see with potential merely by measuring moves and looking to past formations.
I do expect that if we do make another dip, that would be the last one. And I’m here cheering for the next bull cycle.
Thanks to watching!
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DISCLAIMER: I am not a financial adviser. Investing and trading is risky, and you can lose your money. The information in this video should not be used to make any investment decisions. You should contact a licensed financial adviser prior to making any investment decisions.