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4H Trend = Down

1D Trend = Down

Pattern = Potential Descending (falling) Wedge http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge_reversal, needs price breakout above 1.01 and ideally break descending trendline near 1.07 to validate trend reversal. Breakdown and follow-through of lower green trendline invalidates the pattern. 

 

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14 hours ago, protechtor said:

needs price breakout above 1.01 and ideally break descending trendline near 1.07

I would agree with this...even a bit higher like 1.15-1.20 to confirm reversal...until then Bears are still in control IMO

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From the Zerpbox: "this looks more like accumulation...price just low enough to keep weak bulls nervous so they don't push up the price"

To the XRPsurfers:"...but any bad news or whales group can create a flash crash...I'm on the sideline waiting for the market to give a direction"

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To the veterans of the group, do you have any insight, based on charting and preferred metrics, as to what a de-coupling would really look like?

Do you agree that BTC being the primary pair is the driving factor to coupled pricing?

Would we need to see various coins ultimately collapse to see a de-coupling?

Which factors do you think contribute the most to the prices being in lock-step?

Does psychology play a role in this?

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15 hours ago, Hodlezerper said:

To the veterans of the group, do you have any insight, based on charting and preferred metrics, as to what a de-coupling would really look like?

Do you agree that BTC being the primary pair is the driving factor to coupled pricing?

Would we need to see various coins ultimately collapse to see a de-coupling?

Which factors do you think contribute the most to the prices being in lock-step?

Does psychology play a role in this?

Ideally, decoupling would see XRP/BTC pair in a solid uptrend. Right now, the two spikes in the last year of XRP relative to BTC are very similar, so far. Staying above the 50 EMA is critical to an uptrend though.

 

 

image.thumb.png.cc5601f1a5493e0198ed26689e5b9e8b.png

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On 13/2/2018 at 10:38 AM, Hodlezerper said:

based on charting and preferred metrics, as to what a de-coupling would really look like

Beside the price off course...volume would be a good indicator that XRP is about the leave the BTC nest...but Bitcoin is still a very important entry "currency" I think it will be by step and not just one big boom...

On 13/2/2018 at 10:38 AM, Hodlezerper said:

BTC being the primary pair is the driving factor to coupled pricing

Most of the time...but we've seen XRP and other crypto trying hard so we know it's coming (decoupling)

 

On 13/2/2018 at 10:38 AM, Hodlezerper said:

Which factors do you think contribute the most to the prices being in lock-step

As funny as it sounds I'd say Chinese New Year...everything stops for days for at least one fifth of the population....pretty much all crypto have seen volume going down and price relatively stable...

On 13/2/2018 at 10:38 AM, Hodlezerper said:

Does psychology play a role in this?

Psych always plays a role unless you're big enough to move the market by yourself...traders look at charts and see patterns...believe we're heading in this direction while it could be a fake indication...if enough believe it's real then the price will probably go in that direction...like now...I see more and more indication that bulls are slowly accumulating and an imminent reversal is starting to uncover...but is it just a fake for bears to dump more on us before they crash the market? Psych recently moved from capitulation (drop below 1 USD) to despair (drop below 0.80) to some wishful thinking (back over 1) to some prudent enthusiasm (going sideways above 1)...if the price of XRP was to go over 1.20-1.30 I am sure we'd see some more dancing bananas in the zerpbox and we'd be getting back to the mania phase...

This has some interesting graphic to show what I'm saying https://www.marketwatch.com/story/5-charts-to-tell-if-stock-buyers-are-too-bullish-2013-06-17

 

 

 

MW-BE062_sentim_20130613162807_MG.jpg

Edited by Malloy
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9 hours ago, protechtor said:

Trend: Bottoming

Pattern: Completed a Descending Wedge. Possible inverse H&S pattern forming (not ideal).

 

 I don't really use the 4h chart...what do find interesting about it?

I prefer 15-30-60 mins for short term trades and daily for mid to long term...

 

 

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1 hour ago, Malloy said:

 I don't really use the 4h chart...what do find interesting about it?

I prefer 15-30-60 mins for short term trades and daily for mid to long term...

 

 

I use 4h and 1d indicators to determine the larger trend as they are more reliable (especially at potential turning points). I use short term charts to determine more precise entry/exit points. As a general rule, I don't trade against the larger trend. 

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Trend: Up. Price now above 50 & 200 EMA. 

Pattern: Completed a Descending Wedge. Possible inverse H&S pattern forming (not ideal).

Buyers have been consistently accumulating above 50 EMA, which has allowed it to be solid support for a week. 

Longer term charts (1D), MACD has been in a bullish crossover for over a week. It and RSI have plenty of room for upside. 

 

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One of the worst trading strategy is to get comfortable with patterns...like...weekends have seen mostly price going down so on Friday some traders got used to sell to buy back Sunday night/Monday morning (depending where you live)...

...well...wake up call might be brutal this time lol

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I'd say keep an eye on the market in the next couple of hours...the fun should begin...

There's a big fight on BTCs very high resistance level 11k-11.5k USD...

We saw yesterday out of nowhere an attempt to break that line...or is it a very good bull trap that was set just before they crash the market again....IMO...we could have a  glimpse at what's to come this week around 01:00 UTC.

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