XRPUSD updateOleg Alexandrov
This particular analysis could be applied to the whole crypto industry as well.
First, all down-moves start from the initial up-impulse. And all up-moves start from the initial down-impulse.
As an example, the recent ABC bullish has started from initial down-move . (Note the 17/Dec Panic within that initial down-wave).
What is now?
The extra-energetic up-wave  could easily be the initial move for the future down-trend (I plot approximately down-trend lines already). Extremely high volumes within wave  on 13/Feb represents the FOMO buyers who entered the trap above psycho number 0.3. Sell-off  locked them in losses.
What is next?
I expect some bullish low-energetic move  powered by support from C-line and SFDB zone. But this move has small odds to expand into a larger move with that great Weakness Zone above 0.3. That why the next bearish attack  should break down line C.
Yes, You Can Become a Professional Chart Reader
To build success in any business, you should rely on things that really work.
In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.
Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!
Enter your email to Download books
No spam is guaranteed.