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dr_ed

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  1. Like
    dr_ed got a reaction from Stellios in Epic Pennant on BTC Chart   
    Back to XRP and TA. On the one hour it looks SO CLOSE to getting up above resistance now. But we need a bit more steam.

  2. Like
    dr_ed got a reaction from aavkk in The Big Deal   
    Good way to dispose of a billion XRP without moving markets and hurting hodlrs. It's pure genius, from that perspective alone.
    And I keep intending to start a new blog on Coil. I got so far as signing up...This summer has been a dry spell for me and my writing, about cryptos and everything else.
    This post is a call to action.....not that I have content that anybody would necessarily pay for....but I LIKE the Coil model and I hate the sh!t out of Google at this stage of the game. And I need to start writing again, for my own reasons..like impending old age....lol.
  3. Like
    dr_ed got a reaction from Johno in Epic Pennant on BTC Chart   
    Ledger Market Volume/Total Market Volume is rising now, over 50% for the first time in about a week. It's just the 22nd. Maybe it will rise from now into the first of the month.
  4. Like
    dr_ed got a reaction from Milly238 in Epic Pennant on BTC Chart   
    This chart just keeps teasing us.....almost breaking down.....but as you can see from the AO there isn't much downside momentum now. I would guess because BTC is not tanking..that's helping XRP indirectly. Dunno for sure.

  5. Thanks
    dr_ed reacted to MQB in Epic Pennant on BTC Chart   
    They will do the opposite to what the majority think they'll do(and take actions accordingly)
  6. Like
    dr_ed got a reaction from LittleLordFauntleroy in Epic Pennant on BTC Chart   
    Ledger Market Volume/Total Market Volume is rising now, over 50% for the first time in about a week. It's just the 22nd. Maybe it will rise from now into the first of the month.
  7. Like
    dr_ed got a reaction from LittleLordFauntleroy in Epic Pennant on BTC Chart   
    This chart just keeps teasing us.....almost breaking down.....but as you can see from the AO there isn't much downside momentum now. I would guess because BTC is not tanking..that's helping XRP indirectly. Dunno for sure.

  8. Like
    dr_ed got a reaction from LittleLordFauntleroy in Epic Pennant on BTC Chart   
    Back to XRP and TA. On the one hour it looks SO CLOSE to getting up above resistance now. But we need a bit more steam.

  9. Like
    dr_ed got a reaction from Cesar1810 in Epic Pennant on BTC Chart   
    This chart just keeps teasing us.....almost breaking down.....but as you can see from the AO there isn't much downside momentum now. I would guess because BTC is not tanking..that's helping XRP indirectly. Dunno for sure.

  10. Like
    dr_ed got a reaction from Milly238 in Epic Pennant on BTC Chart   
    Back to XRP and TA. On the one hour it looks SO CLOSE to getting up above resistance now. But we need a bit more steam.

  11. Thanks
    dr_ed reacted to RussianStandards in Epic Pennant on BTC Chart   
    Fair point, I don’t trade or buy much at all (much much less than you I imagine) but I know the cheapest ways to get on the ladder. Gutted GBP deposits are null now since they cut ties with barclays. Now it’s a bit of a pain for me. 
     
    Anyways back to TA..
  12. Thanks
    dr_ed reacted to automatic in Epic Pennant on BTC Chart   
    @Eric123 My perspective is a bit different;  in my opinion the alt season begins once BTC momentum tapers off and the price becomes stuck.  While this may take place after BTC hits some ridiculous ATH, I think that chances are pretty good for the season to start before BTC ever hits 30k (which is the magic public FOMO boundary imo).
    The reason for my thinking is market manipulation and whale (MM/trading desks/whales) action.   Since the market remains unregulated, no safety checks exist that would prevent large players from using their shenanigans to move the market to their advantage.  While these large players will be after the exact same thing as retail investors (buy low, sell high), their predicament will be somewhat more complicated due to limited crypto liquidity.  Fortunately for them, they can use their large size to move the market to their own advantage and create liquidity needed to enter or exit positions.  Unfortunately for everyone else, that liquidity is always created at the expense of retail traders. 
    Take the recent xrp drop below a multi-year support;  how many people do you think had their stops set right below support as they were *certain* that the support would hold?  Push price below support, trigger stops, create a mountain of sells, mountain of sells provides excellent liquidity for whale market entry at rock bottom prices.  Easy-peasy!  Hopefully the next step in this sequence is to capitalize on positive xrp market sentiment by pushing the price above intermediate resistance, create a mini bull run, capitalize on the public FOMO, and unload into the wave of retail investors jumping onto the xrp bandwagon.
    That scenario aside, one angle that is missing from nearly all analysis is the one that attempts to predict what whales and large MMs might do given a particular technical setup.  To do exactly that, I think it is important not to only look at price action, sentiment, supports and resistance, but to also contemplate where liquidity is located as liquidity will be the key factor driving whale action.  Breakdown/breakout/fear/fomo/short-long squeeze will all be the tools used for extracting liquidity from retail investors in this instance.
    Wit that in mind, these days I try to not only look at TA and sentiment, but also overlay that with thinking like a market manipulator.  Yes, this is the setup, this is the sentiment, this is the expected price action... okay, now if I were a whale what would I do to profit from this setup?
    When I apply that type of thinking to our current setup, this is what I see:  I need to get BTC to 30k;  BTC momentum is drying up;  alts are freeze-dried (to quote @dr_ed) but people are still bullish and calling for the alt season; no one thinks that BTC will drop below 9k ("that's not how the bull market behaves").  Ok, what I can do now is slowly start to pump the alts to get people looking at that direction and gradually interested;  then, I can drop btc to speed up the transition to alts;  then I can push btc below 9k to really trigger those stops and create entry liquidity while at the same time pushing alts even higher;  then I can sell my alts right into the wave of retail selling their btc and convert my newlyfound gains back into btc at rock-bottom prices.
    Far fetched? I think it was Phil Potter who said something along the lines of "if it wasn't for us, BTC would have never gone above 2k".  Plus, I distinctly remember back in 2017 losing my mind trying to time alts vs btc since as soon as I would jump onto one bandwagon it would begin to pull back and the other would start going up.  The lesson there is that large players can effectively use alts to fuel btc, and btc to fuel alts.
    Alts have thus far not fueled btc, but they are freeze dried and ready to go.  Once btc gets stuck, my bet is that it will be the alt rally that refuels it for the next leg up.  
    As to whether btc will get stuck before 30k, we will have to wait and see.
  13. Like
    dr_ed got a reaction from ManBearPig in Epic Pennant on BTC Chart   
    Back to XRP and TA. On the one hour it looks SO CLOSE to getting up above resistance now. But we need a bit more steam.

  14. Haha
    dr_ed reacted to MQB in Epic Pennant on BTC Chart   
    Speaking from the mind of an Anarchist, LOL.
  15. Like
    dr_ed reacted to ManBearPig in Epic Pennant on BTC Chart   
    Depends on the State.
    Uphold is great for smaller purchases via bank. I anticipate Binance USA becoming a legit exchange for the alts they do plan to sell.
    Might as well get verified with Bittrex, Coinbase, Uphold, and eventually Binance USA to have multiple on ramps/off ramps. I believe these exchanges to be the better insured, and plan on being proactive towards USA compliance which means they will be limited in what alts they sell.
    Am I missing any exchanges?
  16. Thanks
    dr_ed reacted to Julian_Williams in Epic Pennant on BTC Chart   
    As you know I am not a BTC fan......but I love your optimism for both BTC and XRP.  Rare in this space.  It would be refreshing to see XRP gaining a bit.  I think if XRP starts to go that would boost liquidity for XRapid adoption which would feedback into speculative FOMO.  I believe in September Kitao is launching his drive on getting the Japanese market to adopt XRP.  Maybe now is the perfect moment to buy XRP, but it could so easily slip down to .16 if the selling pressure does not let up.
  17. Thanks
    dr_ed reacted to automatic in Epic Pennant on BTC Chart   
    I was just looking at the very same thing;  we are approaching the convergence point - 10 days at most for the final decision.
    This would be a good time for a 50/50 btc/alt hedge IMO as it is going to be one of those that goes at the expense of the other.  Either current alt gains get flushed into BTC and push it through, or BTC breaks down and kickstarts the alt season.
  18. Like
    dr_ed reacted to Johno in Epic Pennant on BTC Chart   
    Aye, aye cap’n. Morale may be good but some rum wouldn’t go astray. 
  19. Like
    dr_ed got a reaction from Paradox in MGI and the "Ripple Effect"   
    Not for a while, is my best guess. If they can get revenue positive, then it will matter.
  20. Thanks
    dr_ed reacted to LittleLordFauntleroy in Epic Pennant on BTC Chart   
    Use Coinbase Pro (aka GDAX).  Same account, still connected to your bank account, but much lower fees.
  21. Thanks
    dr_ed reacted to Molten in Charting the course of XRP   
    I agree, it could go anywhere, but the pattern of the ascending wedge is quite convincing and thus I see it ending well short of 85% and resulting in a substantial drop from there.
    Let's check in on that chart... shows we are nearing the bottom trendline and likely due for a BTC bounce, which jives perfectly with the broken triangle above.  Let's see if all comes together like it should!  Expecting a BTC bounce here in the next day.

  22. Like
    dr_ed got a reaction from Milly238 in Epic Pennant on BTC Chart   
    I'm going to say probably not.  But it's slightly encouraging, and it could pick up from here. But so far it's a very modest rally.
     
  23. Thanks
    dr_ed reacted to Eric123 in Epic Pennant on BTC Chart   
    (written like a captain's log)
    Day 2 of my missed prediction. Bitcoin is currently at $10,104, the price had been below $10k all night.  XRP is  .27.  Moral is still good within the community although there have been some mentions of a possible $6k bitcoin price and stop losses for XRP being triggered.  I have reasserted my faith that bitcoin will retake the trendline relatively shortly and the XRP is a good buy at these prices.  
    I have drawn another short term trend line and I am waiting for a violent break out soon.  I will be picking up so more XRP today.   Sub $10k prices for bitcoin should be a thing of the past soon.

  24. Thanks
    dr_ed reacted to Eric123 in Epic Pennant on BTC Chart   
    @AlejoMoreno The hashrate runs and protects the network.  It indicates investment in bitcoin.  The whole crypto space is growing and big things are happening. 
    I know these violent price sings are heartbreaking but hey if you sell now I'll probably be on the other side of that trade.  As a general rule I've found it's better to buy on red days and sell on green days and not the other way around.  I can't guarantee XRP will go up but I'm betting with my own money that it will and I don't plan on selling until $10.   
  25. Like
    dr_ed got a reaction from Milly238 in Epic Pennant on BTC Chart   
    Green morning in XRP Land.

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