XRP EW Update 04/02/2022 Trying To Count Upward


It has been awhile since my last post, since the bottom of the triple zigzag formation the count has been pretty complicated. From that low we printed an impulse, but it was followed by a long sideways complex corrective, this sideways affair can form the base to go higher in the future though. 

A new low is no longer allowed in the count since we counted a complete triple zigzag formation, additional downside would be problematic for the count at this point....

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The chart above shows the final impulse for C of Z with bottom on the 24th of January, from there we can count an upward impulse (potentially "1") with a long sideways corrective that I counted as a WXY, the Y wave slightly truncated as of now. Some additional downside remains possible however the low of January 24th must hold. Since the complexity of this formation it was almost impossible to count this live. An option I also see is that the Y wave will form a triangle on it's own, this would mean some more sideways action (compressed) before we make upward progress....

If we zoom out more you can see the entire triple zigzags structure that started in September of 2021 :

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The decline is certainly wedgie, however it does not work as a diagonal because there is no ratio-relationship between the down legs. 

I assume that the upward count started on the 24th of January, we have to start from scratch with the upward count, but we know what we can expect... another set of upward zigzags of different degree :

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So we still have some work to do on the upward count... 

I would greatly appreciate your support in my work, in that case I will provide further updates.

Thanks !

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xennevdl
xennevdl

trader / crypto investor EW specialist, counting $ES_F & $XRP no financial advice, for educational purposes


XRP EW Price Prediction by Xenne van der linde
XRP EW Price Prediction by Xenne van der linde

EW specialist, many years experience in counting waves counting XRP since the end of 2019 no financial advice, for educational purposes if you wanna support this blog you send some xrp to rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh tag 105818781

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