Ripple completes inverse Head and Shoulders Pattern BUT ....

5 de mar. de 2018

Hey guys hope everyone is enjoying the day ! Yes ripple could be seen as completing inverse Head and shoulders ( with a down tilted neckline - yellow in this picture - so not that bullish i will say) ! Still its H and S after all and we got support of 50 EMA and 200 EMA lines ! There is a problem though . Look at the RSI ( my free version did not let me add more indicators - u can add more guys - most indicators not supporting rise) 4h chart , its above 70 so though ripple still has potential to rise ( because neckline is downward the retracement should be low as per me ) . What we must do is wait for sometime and let the RSI value be adjusted to make us feel like the situation is not overbought or stretched one and buy ripple for short trade ( i never like to buy when RSI is above 70 - in fact while i m writing this article its good to see it falling) . Either of the two supports will protect it ! Ones RSI is a bit adjusted we will see another short rise ( use fibonacci retracement and lower ones not higher retracements there).

ALSO : We are moving towards shift of dominance of btc !
One by one coins will start breaking their resitances with bitcoin ! the fifth elliot wave of this cycle of btc is still not complete ! More to go ( but last time things started nearly from here ... it was 5th wave of long elliot of btc when things started I mean dominance shift started). So small coins will start coming to power slowly ( though more affect will be seen when btc long elliot completes - BTC has two long elliots each year so two dominance shift between btc and alt coins we see - Well all these things most of you would be knowing already).