Hi there all. As explained in my tweet, this is the first time ever in the field considers yearly candles as an analysis. I assume we will be seeing it in the upcoming weeks a lot.
What does a yearly candle mean? As you know in general we use 4 Hours, 1 Day, 1 Week, or 1 Month time frames in our charts and not yearly candles.
A yearly candle is the price candle (bar) formed in 1 year. Let's deep dive into the subject.
It is crystal clear we had an initial rising trend between 2013 and 2018 then a correction between 2018 - 2022 and we are expecting the rising trend again as below in the technical pattern.
Pennant Pattern - Symmetrical Triangle
Our Grand Super-cycle of approximately 5 years structural Elliot Wave indicates the downtrend is coming to an end. 3rd Grand super cycle wave is expected to aim for $256 in 4-5 years.
Wave Trend Indicator
Since it is the grand super cycle, there are no indicators formed yet.
This 1-year indication states the triangle is waiting for action. Ripple XRP just before the settlement can target $13-30 and aim for $256 - XXXX in the 5-year period.
As always, Important Note: None of the targets represented on defenddark.net and defenddark.com is financial advice. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.