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Eric123

Epic Pennant on BTC Chart

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These oscillators are best used on the time frames traders use. Those would be the 30 minute, the 4 hr (Bitfinex gives you a 3 hr, good enough) and the  one day. They can be drawn for long term charts but that isn't as useful, imho.

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I know most of us, myself included are hodlrs, not traders. But even hodlrs need to know a healthy chart from a crappy chart. I'm going to show you some of each.

First...here'e the DAILY on ETH. Hard hit this week, but still looking pretty positive by these two indicators

Cloud is green, bullish. Cloud is rising, bullish. Chart is above the cloud, bullish.

On the oscillator all the bars are ABOVE zero. Bullish. However, the momentum is bearish. Three Twin Peaks In a row, the last one of which corresponds to the latest red candlestick on the price chart.

See how this takes the interpretation part out of it? Boom. You get an instant snapshot.

639649954_ScreenShot2019-07-12at8_19_32AM.thumb.png.e71f74e7dfbf4e61c19c8e2f023c0243.png

Now let's look at LTC.832786979_ScreenShot2019-07-12at8_28_07AM.thumb.png.9874420e02ce3e9fe64a519c9856faa0.png 

Once again this is the daily. This is where we get our info about the coming few days. 

Cloud is green, bullish. Cloud is rising, bullish. Chart has dropped THROUGH the cloud, hit support, and we have now a green candle. Buy signal.

On the AO, we can see we our trend has been down because  the bars are BELOW zero. But, it looks to be close to bottoming. A green bar next would be mildly bullish, confirming the buy signal on the other indictor.

I like these indicators because they're easy to interpret. There are only a couple of other AO patterns to look for. We'll talk about those if I see them.

So, those charts are both mildly bullish.

 

Edited by dr_ed

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I know everybody just wants to know what will happen with XRP. So do I...but the XRP chart is flaky as hell, and it tells me NOTHING about the broader crypto market, which is important for all of us to be able to get a handle on. In my opinion, BTC, LTC, and ETH are the most important for that.

And the interplay between the three is important. ETH and LTC are better indicators for alts than BTC.

BTC is marching to its own drum. Although all of us XRP hodlrs know it has lots of problems. the buying public sees it as the strongest crypto, and there are good reasons to respect that. It will continue to drive the market for some time to come.

To me, the recent weakness in ETH and LTC are bad signals for all lower cap alts. I'd like to see some serious recovery on these two. 

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Okay, I actually had to look around for a really bad chart. Happy to say even XRP is looking bullish. I'm about to get busy, but I will post it later.

Right now here is the OMG chart. OMG is a great project (according to many, I'm not holding it) but the daily chart makes it look like the poster boy for dog sh*t.

Cloud descending. Chart below the cloud. Cloud red.

On the AO twin peaks (bullish) that correctly predicted that one lonely green candle of May 15....Now a possible mild twin peak forming, but it looks questionable because the peaks are almost the same height. 

Red candles all over the place. Obviously this is an extreme case, but I wanted to show you a nasty chart. Technically, the signals on OMG are saying  "run, run away fast".

Screen Shot 2019-07-12 at 9.08.01 AM.png

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2 hours ago, dr_ed said:

Red candles all over the place. Obviously this is an extreme case, but I wanted to show you a nasty chart. Technically, the signals on OMG are saying  "run, run away fast".

I wish I would have seen this one sooner. I just took out a loan, secured by the equity in my home and businesses, and went all-in on OmiseGO. Now I know why it’s called OMG!

Note: This post was intended to provide some comic relief, while the forum remains on suicide watch. No loan was secured, and no actual OMG has been purchased.

Edited by GoldenGoose

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18 minutes ago, GoldenGoose said:

I just took out a loan, secured by the equity in my home and businesses, and went all-in on OmiseGO

@GoldenGoose now that sounds like a excellent financial plan.  But what you don't know any loan sharks that could have lent you money that you could put in OMG too??  Anyway, Congratulations on your investment.

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2 hours ago, Eric123 said:

Chris Larsen has been very transparent about his intentions to sell/give away XRP.

https://www.coindesk.com/ripple-co-founder-donates-25-million-in-xrp-to-us-university

This is taken from the article above

"Back in 2014, Larsen committed to donating 7 billion XRP to an unnamed charitable cause amid controversy over large sums of XRP that had been awarded to Ripple founders."

7 billion is over 15% of the current circulating supply, and that's just what he is giving away!!

I have mentioned the shortcomings of XRP on other threads (and I was usually met with strong reactions by XRP supporters)  usually in response to people writing how bitcoin is some kind of scam.  Look XRP is a pre-mined coin, the creators made it for nothing and distributed billions of it to themselves.  This is the main reason that most Crypto Supports literally hate XRP, consider it to be a scam and not a crypto at all.

Even so a lot of people believe in XRP.  If you need reassurance that XRP is not just a way for the founders to make money there are a lot of other threads that address that point. 

I personally have mixed opinions about XRP as a project.  On the one had Google Ventures did invest in Ripple, on the other hand they invested close to nothing.  On the one hand Ripple is pursuing the implementation of XRP in their products, on the other hand Ripple uses their stash of XRP as their own personal piggy bank to finance their company and their products can be run without XRP.  On the one had the XRP founders and Ripple support philanthropic causes on the other hand they support those causes by giving away vast sums of XRP without regard as to what that will do to the price of XRP.

More than any other Crypto XRP is controlled by whales but I'm banking that those whales have big plans for XRP, regardless of the truth of the matter I think we still have a run or two left in the old girl.

 

7B was his entire holding if I remember.

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1 hour ago, GoldenGoose said:

I wish I would have seen this one sooner. I just took out a loan, secured by the equity in my home and businesses, and went all-in on OmiseGO. Now I know why it’s called OMG!

Well, I did say "technically it looks bad". Fundamentally it might be a great buy.

Since it's an alt and it's a good project and it's scraping bottom, you might pan out fine. You certainly got it much cheaper than it was .It could moon, and very well might if you're patient.

Right now it looks (to me) like the bottom is not in yet.

I bought XRP under much the same conditions. You do have to decide what your price point is to buy in. It sure looks cheap.

If I had been you and had the benefit of this chart I'd have averaged in over at least a few weeks. You might have gotten some cheaper coins that way...but  when its worth dollars a few cents won't matter.

Edited by dr_ed

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XRP chart as promised. (Busy morning doing wisdom teeth again. Really hard ones this morning. Followed by moderately hard ones.)

So....XRP looking a bit more sketchy on this chart. Mixed bag.

Green cloud, but turning red unless something changes. Still somewhat bullish right now. Cloud ascending, bullish. (But changing to flat and red is not good).Chart has dropped WELL below the cloud, bearish.

AO, bars below the zero level, all bars red, bearish....but maybe nearing the short term bottom? One can look at this chart and at least hope.

929693465_ScreenShot2019-07-12at12_13_40PM.thumb.png.69f898a8f04ee03019ccd9b1cc48e226.png

So, that shot was to show the end of the chart. Lets back out and look at what's been going on for the last several weeks. I don't look at charts this scrunched up usually, but there is a point or two to talk about..

40208315_ScreenShot2019-07-12at12_21_52PM.thumb.png.007bec448222376c0d8214632b3855ee.png

One thing is how thin the cloud has been much of the time....UNCERTAINTY is how I read that. Not tradable territory at all most of the time.

But also....see the cloud widening when we had some strength......and it is STILL rising. About the only really bullish thing right now.

On the AO you can see the twin peaks on June 1 that gave the red bar that signaled the down leg two days later on June 3. "Twin peaks" is  one peak followed by a lower peak. It means one thing when you're above the zero level and the opposite when you're below it. Here, that first red candle after the 2nd "peak" is the signal that the run is about to end and turn down.

The trend is now down since the oscillator is below the zero level, and currently deeply so.

Not a great chart......flaky, as usual, and hard to parse. But overall pretty damn bearish still, to me.

Edited by dr_ed

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Didn't someone calculate earlier in this thread that all XRP that Ripple has will be out of their hands in 5 to 7 years? Then once that happens things should be very good for HODLers.

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Just now, baobeiiiii said:

Didn't someone calculate earlier in this thread that all XRP that Ripple has will be out of their hands in 5 to 7 years? Then once that happens things should be very good for HODLers.

I agree. It will be good for everybody concerned. It's getting there that's a bit of a bumpy road.

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36 minutes ago, baobeiiiii said:

Didn't someone calculate earlier in this thread that all XRP that Ripple has will be out of their hands in 5 to 7 years? Then once that happens things should be very good for HODLers.

It will be a fair bit longer at this rate. At 300mn per month that’s about 14 years

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Okay, we're now seeing some greening. Look here at the XRP 30 minute chart.

1761862417_ScreenShot2019-07-12at2_09_22PM.thumb.png.521a5b2bf6e994916b85d2a989a69fd2.png

Cloud descending, that'd be bearish.

Chart back above the cloud, bullish.

Red cloud, bearish. (But going green, possibly?)

AO is almost making a bearish twin peaks, but the second peak is not quite right.....unclear too me it's really a twin peaks pattern for sure.

Glad we're up, but if I were trading, I would not pile on this.

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I'm glad we are up too. The sentiment around here was getting very doom n gloom. And we gained in sats versus BTC. That's majority of our gains today.

Edited by baobeiiiii

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