1) J hooks on the Daily resulted in these responses.
2) The overall underlying trend is Down
3) The First Feb Hook resulted in a .34 gain for a period of 1 day three hours.
4) The return to trend after that period resulted in a new low at .56.
5) The High to low was .46
6)The last J hook for the same time period resulted in gain of .25 and this could go higher outside of the period.
7) Both gains are at the top of the downward trend channel (not shown)
8) These correlations are responding to good ol fashion Fib Retracements nicely. (not shown)
9) This is a critical period. Does the asset continue down or does it go up?
10) My opinion is down because this is correlated to BTC and BTC is the 800lb gorilla in the room.
11) My impression is that big money wants BTC low and controls that through the .
12) They want to shake out the retail because we taught them a lesson-Almost a trillion dollar industry without them....naughty naughty crypto world
13) Notice how they restricted purchases globally!
14) Ok back to my analysis-Indications are downward on this level but the daily is showing we might hang at the .786fib just like we hanged at the .686. (take a look-Use retracement ultimate low (.003) and ultimate hi (3.31))
15) Look at the daily.....
16) Look at the weekly too.
17) This is the 30 minute
18) B% and then the new tool-Elliot Wave Oscillator-For the Wave People are the lower studies.
Lastly, Since I am new to crypto, I am learning the reactions of this industry. While I have the tools, I am learning the sentiment. It is really odd that XRP has major major news, that in the other world, would be catalysts.....It's really odd that the outsiders view crypto as crypto and not based on the merits of each unique digital asset....I am long XRP and Tron and acquiring more.
This is for educational purposes and reflects my own opinions. Any action that is derived from my analysis or comments is at each person"s own risk and not the risk or liability of me as a person or my company.
The best way to trade right now is to invest, and re-invest on every lower stage. It have to rise next months.
And some news that can affect more people to join:
Thanks for your comments....much appreciated!
Thanks for your comment.....This is just an observation with technical support. Math does not lie!
Your welcome......me too.