waiting | 03 July 2018

Wave Analysis

After an attempt break below 0.4478, Ripple rallied higher and has now gone above the upper trend line. We're waiting for a clear breakout above this trend line to pick a low risk position with an ultimate target at 0.5414. The anticipated bullish price rally is the unfolding of an corrective five wave cycle and should breakout above the 4 hour resistance level 0.6735 towards 0.9165 or even higher. This view will only be rendered futile in case the price breaks below 0.4478, and even then, only a break below 0.4134 will call for a short position.

Trade Recommendation.

We're waiting for a clear buy position

101% Double the volume

The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.