The last update dictated that a move to 50 cents was highly probable. Which happened.
I also indicated that if we broke this gold trend line we would go much higher. Which happened.
I outlined that a re-entry point would be in the 48-49 cent area, a retest of that support area and large trendline. Which happened.
Folks, now we are forming this large consolidation triangle as we move up. If we continue to form this pattern and it validates it to the upside, we will see $1 in the near future.
We have been long since 30-33 cents, targetting at least $1.
Here is what I am doing. I do NOT have a sell order at $1. Here is why. BTC and ETH look like they are going to explode to the upside and we go into a nice rally into the end of the year. A lot of technicals point to this and I believe it will happen. This type of bull run will propel ripple past the highs and to overshoot it's previous high's if it starts doing that. if a pattern forms or something changes in the market, I could alter this decision. For now, I like $5 as a target. But the choice is yours on what you want to do.
Happy hodling,
-Sherem
I also indicated that if we broke this gold trend line we would go much higher. Which happened.
I outlined that a re-entry point would be in the 48-49 cent area, a retest of that support area and large trendline. Which happened.
Folks, now we are forming this large consolidation triangle as we move up. If we continue to form this pattern and it validates it to the upside, we will see $1 in the near future.
We have been long since 30-33 cents, targetting at least $1.
Here is what I am doing. I do NOT have a sell order at $1. Here is why. BTC and ETH look like they are going to explode to the upside and we go into a nice rally into the end of the year. A lot of technicals point to this and I believe it will happen. This type of bull run will propel ripple past the highs and to overshoot it's previous high's if it starts doing that. if a pattern forms or something changes in the market, I could alter this decision. For now, I like $5 as a target. But the choice is yours on what you want to do.
Happy hodling,
-Sherem
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previous analysis:
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Here is the exact post I told everyone to go long at 30 cents:
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Please like to show your support, thanks!
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There was a question in the comments below about RSI. BuyPennyCrypto brought the definition of RSI from investopedia which provided some insight.
If we go back to the bull run last year we can see RSI remained quite oversold for some time. Once we start experiencing crypto bull moves, I start putting more credence on patterns. You can see here where RSI stayed oversold from .50 cents all the way to basically $3.
If we go back to the bull run last year we can see RSI remained quite oversold for some time. Once we start experiencing crypto bull moves, I start putting more credence on patterns. You can see here where RSI stayed oversold from .50 cents all the way to basically $3.
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and if you didn't see it, check out my post on dailyhodl!
dailyhodl.com/2018/0...argeting-at-least-1/
dailyhodl.com/2018/0...argeting-at-least-1/
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Well folks, we are at 60 cents already. We might get a move up sooner than expected if we see BTC and ETH break up here.
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new update:
