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MegaNerd

TA People.. what say you now?

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I think most people use TA to confirm what they want to do in the first place.  Lets face it, if you could use TA to predict a move from $.01 to $20,000 then back to $3,200, you would be a billionaire many times over.  So if you are using TA and you are not a billionaire many times over I'd think you'd have to admit that TA doesnt' tell the whole story.

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54 minutes ago, MegaNerd said:

For all of 2018 the price dropped yet not once (that I've seen) has any TA person said (and predicted to be true) that 2018 was going to be a year of falling prices.

Whats up with that?

If you really think that, you haven't been following much TA. Almost every TA person I follow has been calling for a bitcoin crash, from anything down to 5k, to 3k, and to 1k.

Tone Vays has literally been saying this from February/ March 2018. Check out Peter Brandt, Venzen, Willy Woo, Tyler Jenks, and a host of other people I follow.

You couldn't be more wrong with that opening sentence.

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1 hour ago, 2ndtimearound said:

So he thinks BTC could reach $1200 by end of March 2019? This is where TA alone isn’t enough. Too many events happening in Q1 that make me doubt BTC will go that low. 

The technical analysts I follow differ slightly on where they think the bottom will actually be. To be honest most are taking it was it comes rather than predicting outright right now. None of them think the bottom is in yet though.

The likes of Tyler Jenks have been calling for 1K since the parabolic move up finished due to his hyperwave therory. Tone Vays was hoping the bounce would be at 5k but acknowledged that below that 3k then 1.3k may be the bottom. This guy called Chart Vampire whom I really rate reckons it’ll be somewhere in the 2-2.5k region after a capitulation.

In terms of timing, most seem to reckon we’ll have bottomed by late May/ early June.

They are all very bullish bitcoin long term.

If this plays out as they expect, it doesn’t necessarily mean pain for XRP because I’m hoping our fundamentals will see us pump long before then. 

If we stay joined at the hip (whilst showing some relative strength) to bitcoin  as we have done in recent weeks I’m guesstimating  2-2.5 k will take us to low to mid 20’s. 1.3k will probably take us to high teens. I might be being a bit optimistic though.

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Honestly, I think most analysts just like to be shocking with their predictions of how low the price of bitcoin will go.  Here's the thing - They all missed the move to $20k!!!  Show me one TA guy that saw bitcoin going from $.01 to $20K. If they didn't see the run up coming what makes you so sure  they know it's coming down.  Cause if they did see the run up coming they would be too rich to bother with posting about TA.  I'd be shocked if we go below $3k I put very little weight on anyone's TA predictions.  The only people who's predictions I really put weight on are visionaries that see bitcoin as a revolutionary tech and not just a chart. Tim Draper for instance said bitcoin was going to $10k years before and predicted it almost to the month it happened and now he says its going to $225k by 2022.   I don't know the future but I'd guess the $225k prediction is more reliable than the 1.2k predictions.

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