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dr_ed

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dr_ed last won the day on October 4

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About dr_ed

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    Cryptos and cash-flow real estate predominate my investment portfolio. My non-investing interests include sailing and vintage powerboats, vintage cars, gardening, sustainable living.
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    Austin Texas
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  1. It's interesting because maybe the two things are directly related. Trying to think like a whale.....if you knew XRP price was about to dip significantly and you had some you bought previously at higher prices, then you could sell XRP, then sell a sh!t-ton of BTC and drive the price down and get your XRP back cheaper. But you'd probably only want to do this if you were accumulating XRP. Does that narrative make sense? It kinda does to me.
  2. Fwiw, I just saw CryoptHawk is enthusiastically tweeting for everyone to BTFD. I'm still very long XRP.
  3. I reduced my XRP overweight by 25% so far and bought some trades.......LINK, BAT, and 0x. I am still very long XRP, but thought it was prudent to reduce my exposure at least briefly until we see if BTC reverses or.......the other thing.
  4. I'm saying it definitely looks like it's less correlated to BTC than just about anything. I've been watching it because I've considered it a good trader and others have recently been trading it and making good profits. I don't own it, but it looks very bullish, and almost nothing else does. I find that interesting. It has SEEMED to be moving somewhat in tandem with XRP as of late, but I wouldn't read much into that.
  5. If I'd checked in with my mentor this morning I'd have had warning that there was a massive rise in shorts. I did not take time to look at that myself. I'd say you're spot on.....but the chart is decimated. Lots of damage in 3 minutes time.
  6. Easy to see where we are. Pretty close to support.
  7. Big whale dump made me wrong. Now the BTC chart looks awful all of a sudden. No denying that. Not sure we recover here. We can only hope he takes his BTC profit and buys XRP with it.
  8. Lots of red this morning, but the chart says it's noise, and probably about to turn up. On the 30 minute, we have what looks like a crossover coming......to positive momentum. On the 6 hr you can see our new range.We're waiting again.
  9. In spite of the crossover on the MA's, this chart doesn't look as bad to me as last week. Just basing so far. I don't see doom. But maybe that's just me. Lots of algos and bots at work on the sell side. That's pretty clear with all the long wicks followed by single high volume dumps in an otherwise low volume market.. They seem to be related. Other people can probably explain that better than I can.
  10. You might consider putting some of it in Tether or USDC.....I don't think XRP keeps running if BTC tanks. (not financial advice, lol.). But I'm doing the same thing you suggest, since I'm really overweight XRP already and sitting on almost no BTC. But cash is king if BTC plummets imho. I'm almost certainly taking more risk than I should. I'm still looking for the reversal too. I am aware that the chart is not that great in "death cross" terms. But so far we're just testing support on the one hour. Maybe it holds. Momentum has faded. Let's see which way it breaks now. I'd like to see the AO stay above the line.
  11. So my macro outlook is slightly modified from what I thought a month or six weeks ago. Gold is still in correction mode, but stocks are looking more bullish since last week, as the chart I posted a couple of weeks ago from Gary Savage predicted. He thinks that we're going to get some inflation, which might cause all our asset bubbles to inflate together, stocks, gold, and commodities. I'd welcome some significant inflation here, because the alternative could be worse. Gary hates bitcoin, but I'd postulate that an inflationary bubble benefits BTC price and other cryptos along with everything else. The dollar, as far as I can see, is still in an uptrend since early 2018. It needs to start falling here to fit the inflation narrative. It might. I'm still long a tiny slice of MGI stock, which has now been in a new uptrend since Oct 2nd. I will probably take my little profits soon, although there are some signs that the Nov 1 earnings might surprise to the upside. I might take a chance and let it ride, since my position is quite small. Getting out is the safest play, but my outlook for XRP is short term bullish, and so that makes me more bullish on MGI.
  12. BTC is taking a breather here on the very short term charts but the 1hr still looks very strong. We need more volume to come in on the buy side, just like we need it for XRP.
  13. .30 is heavy, heavy resistance. Not surprising we didn't hold above it on the first try. We will get further on the next one. Not much follow-through on that one candle, either. We need to see more buyers show up on these breakouts, to keep the move going. The chart is a little bent but not broken. Looks like a little more consolidation is needed before we go higher. The sellers came out, but not in volume. I think we're okay.
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