Currently, the price has been within channel seven for 27 days. This is well above the average of 21.82 days. However, this is only within the confidence interval of 42.5%. This will climb very quickly to 90% if the price stays within this channel for another 9 days. The probability of a move into channel 8 is as follows:
@wilson1stop, Confidence Interval (CI) is a method in statistics developed by Jerzy Neyman that is determined by what amount of samples within a population lie within a specific range. This allows us to determine the probability of a future event.
unitednoobies
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@GrantPeace, Ahh I see. Then what does the percentile mean? Such as 90%
GrantPeace
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@unitednoobies, It means we can be 90% sure it will move into the next zone during that day (9/29/17). Today we are 62% sure it will move into the next zone - not very confident.
90% is very confident.
unitednoobies
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@GrantPeace, Ah it makes perfect sense now. Thank you. I am a long term holder of xrp, however, I am waiting to see how XRP will perform before, during, and after the SWELL conference meeting.
Thank you!