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Eric123

Epic Pennant on BTC Chart

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Posted (edited)

I know I said the XRP chart doesn't tell us much...but today it does look like it got oversold and that a bounce is in progress. I don't look for this wave to reach much past .41....but that's 25% above where we are now, so it's significant.....and if we could get back there and hold above it, I'd have to call that bullish.

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These days I'm having to restructure some of my on-ramps and off-ramps because both Coinbase and Celsius are putting delays on withdrawals. Not a big deal for hodling, but a pain in the *ss for trading, or even making portfolio adjustments.

Edited by dr_ed

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2 minutes ago, dr_ed said:

I know I said the XRP chart doesn't tell us much...but today it does look like it got oversold and that a bounce is in progress. I don't look for this wave to reach much past .41....but that's 25% above where we are now, so it's significant.....and if we could get back there and hold above it, I'd have to call that bullish.

832747787_ScreenShot2019-07-21at3_06_45PM.thumb.png.296aba9ac865394f805c74813e9af511.png

Fledgling at interpreting TA but I have been paying more attention to it then I used to, mainly as a means to pick better entry and (hopefully at some point) exit points.  Anyway, I am seeing the same thing on the 4H and daily, so here's to hoping we're both right!

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Posted (edited)
48 minutes ago, dr_ed said:

I know I said the XRP chart doesn't tell us much...but today it does look like it got oversold and that a bounce is in progress. I don't look for this wave to reach much past .41....but that's 25% above where we are now, so it's significant.....and if we could get back there and hold above it, I'd have to call that bullish.

 

Got a time-frame for the wave? .41c would be very welcome!

Edited by baobeiiiii

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Posted (edited)
19 hours ago, baobeiiiii said:

Got a time-frame for the wave? .41c would be very welcome!

How could we guess that somewhat accurately? Maybe by looking at what looks like a similar bounce in Dec 2018. See that similar pattern?

No guarantees, but we are on the 3rd green bar on the AO, and I would guess we have a week to get as high as we get on this wave, before it turns back down.

I have more certainty that the wave will last about a week than I do that we reach .41 this time.That's a best case.

I think that's the way to understand it......the waves will very likely be similar in length time-wise. The top we make is less certain.

Update. I have decided to buy a little XRP today. But it's because I want to buy some other alts but can't......because I don't have moveable funds today . So I will buy XRP here while it appears to be bouncing and hopefully be able to get some upside while I wait for my other funds to clear.

Edited by dr_ed

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42 minutes ago, dr_ed said:

How could we guess that somewhat accurately? Maybe by looking at what looks like a similar bounce in Dec 2018. See that similar pattern?

No guarantees, but we are on the 3rd green bar on the AO, and I would guess we have a week to get as high as we get on this wave, before it turns back down.

I have more certainty that the wave will let about a week than I do that we reach .41 this time.That's a best case.

I think that's the way to understand it......the waves will very likely be similar in length time-wise. The top we make is less certain.

Update. I have decided to buy a little XRP today. But it's because I want to buy some other alts but can't......because I don't have moveable funds today . So I will buy XRP here while it appears to be bouncing and hopefully be able to get some upside while I wait for my other funds to clear.

If you are correct, I will have a newfound respect for TA :)

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Posted (edited)
38 minutes ago, Raekwon said:

BTC is reaching a crucial support level now. Goblin Town or a Moon Bouncing?

Neither one I don't think. Just testing the support before some kind of bounce though, best I can tell. We are completing that down move I outlined yesterday and it looks like we might touch the support which now looks right about 10K (but is still rising with the cloud). I am calling the red lower line of the cloud reasonably strong support here.

Looking at the AO it has turned green, and momentum is turning up but still below the zero..Since we haven't had many times this year with BTC even below the zero on the AO. I wouldn't be surprised to only see one peak here before we get back into positive territory.

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On the very short term 1 minute we have some definite weakness, of course. Looks like we have some more downside today before this is done. But my best guess is no carnage on this one, just a down bounce.

1057804341_ScreenShot2019-07-22at10_21_42AM.thumb.png.461ed4746555142d8031d41b7b87b174.png

Edited by dr_ed

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Posted (edited)

@Eric123 another 12 month bullrun would be great. I've been reading galgatrons tweets and blogs and it has me feeling like nothing will affect the price over the next 5 years.

Does your estimation (for XRP) resemble what tar posted the other day?

download.png

XRP Chart Prediction 7.22.19.JPG

Edited by XRPboi
Grammer & images

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A little more study on NEO, which still looks like a great opportunity shaping up technically to me.

Compared with something like XRP, NEO gives a much more tradable chart , lots of volatility.

However, on the daily, it hasn't given many clear trade signals I can see. The only thing I could call a twin peak........did herald the end of the Crypto Winter in December. Since then I don't see any great signals thrown off by the AO.

On the 15 minute chart, though, you can see that the AO crossovers are pretty good to call the short term big moves up and down.....day traders  doubtless know this already, and probably nobody else cares, but I'm just trying to understand the chart. 

1902723380_ScreenShot2019-07-22at10_48_18AM.thumb.png.7de2300792429ee518e6e2e65a99aa72.png

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One more today, and that is ETH. Here is ETH/BTC weekly. It reminds me a lot of XRP/BTC...but I feel more confident that this will spike on a good BTC breakout. I started to accumulate before it tanked, but just got started, I am going to add some along as long as it stays down here.

1030889989_ScreenShot2019-07-22at11_18_38AM.thumb.png.5ca0230ad598ee99ce9de9cf7dda2c82.png

 

Here is ETH/USD......it looks more oversold than it has all year.....but the AO makes me think we have a week or two more of weakness at least. It might be trying to form a bullish twin peak, but it would take maybe close to 2 weeks to complete if it does. I'm going to watch this.

I know I want some exposure to ETH....and this looks like a great buying opportunity for hodlrs of ETH.

 

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6 hours ago, Eric123 said:

We are basically flat-lined, which is best illustrated on the long term chart.  Historically that is a good time to buy. 

Not to challenge your wisdom, but can you substantiate that statement?  I was under the impression that the long term stagnation of XRP was not necessarily a good thing.  Are we not in a descending triangle pattern, which is usually bearish? 

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To those more adept at TA, is this a thing?  If it is, then perhaps we should expect a bounce up to $0.35ish to test the top and stay within the channel?  And a further break down from here would be a bad thing in the short term?

image.thumb.png.db2bfdece894bde701689a22fc3b31b6.png

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It's a thing. lol. Nice work.

We've hit .30 so many times I wouldn't put too much stock in touching 30...but .28 damn well better hold or we are in a new lower zone.

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