Ripple Sweeps Past My Target of 0.828. Consolidation Time.
Hi guys,
Just a quick update.
Right now XRP's beta against the market is .5744. The beta gives us its position relative to the market (0 being no correlation; 1 being exact correlation). With XRP's beta so low, we can tell that it is the currency currently leading the Cryptosphere through the bounce.
Whether this is new excitement or a hopeful beginning, we can see that this bull-run will last awhile as the standard deviation is .009822. Meaning that we can expect a fluctuation on the downside by around 1%-2%.
If you are not currently in the market I suggest waiting for a consolidation to around $0.81-$0.82 to set up a good long entry for this next bull-run. DO NOT FOMO IN. You will lose.
Your opportunity should come around about 3 hours after this chart is posted (currently 10:21 AM MST). As you can see by my chart, we are forming the "J-Hook" on the Bollinger-Band 4-hour. Which means that we are getting ready to consolidate for the next leg-up. The Parabolic SAR is also giving us an indication that it is getting ready to consolidate as the periods are getting over-stretched. I would wait until we see the periods of the P-SAR to go overhead on the chart to start buying in.
I recommend a stop-loss @ $0.72 and in case of a rapid bullish break, a stop-buy @ 0.90.
Ripple's XRP is going to have a very interesting Q2 of 2018.
Goodluck out there guys!
Just a quick update.
Right now XRP's beta against the market is .5744. The beta gives us its position relative to the market (0 being no correlation; 1 being exact correlation). With XRP's beta so low, we can tell that it is the currency currently leading the Cryptosphere through the bounce.
Whether this is new excitement or a hopeful beginning, we can see that this bull-run will last awhile as the standard deviation is .009822. Meaning that we can expect a fluctuation on the downside by around 1%-2%.
If you are not currently in the market I suggest waiting for a consolidation to around $0.81-$0.82 to set up a good long entry for this next bull-run. DO NOT FOMO IN. You will lose.
Your opportunity should come around about 3 hours after this chart is posted (currently 10:21 AM MST). As you can see by my chart, we are forming the "J-Hook" on the Bollinger-Band 4-hour. Which means that we are getting ready to consolidate for the next leg-up. The Parabolic SAR is also giving us an indication that it is getting ready to consolidate as the periods are getting over-stretched. I would wait until we see the periods of the P-SAR to go overhead on the chart to start buying in.
I recommend a stop-loss @ $0.72 and in case of a rapid bullish break, a stop-buy @ 0.90.
Ripple's XRP is going to have a very interesting Q2 of 2018.
Goodluck out there guys!
Will update tomorrow after the price-action has settled.