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Eric123

Epic Pennant on BTC Chart

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Just now, Molten said:

Still good on @Eric123's BTC trendline and if we fall to 10600-10700 like I expect, that will coincide perfectly with the trend and should result in a nice bounce upward.  Not concerned with XRP's dip here as there is no volume backing it up, it's just following BTC.  Does raise the question of how far XRP will follow if BTC does dump here.....

RTOyY9OM

.28

Hehehe.

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5 minutes ago, dr_ed said:

.28

Hehehe.

Yeah, I'm not sure how much more I think that support can take.  If I had to guess, I'd say we need to break down below that to really and truly capitulate and then we might see some buying pressure.  That support is being tested way too much to hold up, in my opinion.  I think we'll know one way or another in the next month or so.

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4 hours ago, Eric123 said:

@Molten That's not my trend line.  On mine we are below by about 3k  - but I expect we will be returning to the line and above it in a week or so.  That line looks similarly drawn to one @dr_ed recently drew.  My trend line which I loving call the E-Line (copyrighted patent pending)  returns BTC to the ATH by November 29, 2019.  

BTC 8 13 19.png

My bad.  I got carried away - I should never have attempt to co-opt the much beloved E-line :)  Rookie mistake.  And you're right, its @dr_ed that I plagiarized, not you lol.

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6 hours ago, Molten said:

Yeah, I'm not sure how much more I think that support can take.  If I had to guess, I'd say we need to break down below that to really and truly capitulate and then we might see some buying pressure.  That support is being tested way too much to hold up, in my opinion.  I think we'll know one way or another in the next month or so.

I don't know from E-Lines....I just draw trend lines Walter Bressert style, like my mentors.....Bob Loukas, Gary Savage, and LikesMoney. My cycle counting toilet training, I guess you could say.

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Posted (edited)

Inverse head and shoulders on the 4H XRPBTC?  Not a lot of volume accompanying the break above the neckline, but something to watch.  I do like how XRP has relatively held its own while BTC has retraced a bit. 

PLbdAudJ

Getting close to hitting the bottom trend line on the rising wedge.  If the pattern holds, BTC will bounce back soon but if not, perhaps now is when we break out.  Interesting to see the interplay between these charts.  Something may be afoot.... keeping an eye on volume to see if any of these moves are significant.

zPm0r7R9

Edited by Molten

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5 hours ago, Molten said:

So we are smack dab in the middle of my buy target of 10.6-10.7k for BTC... but now I'm interested to see if BTC dominance bounces off of the trendline or if this is the start of a bigger break down.  :popcorn1:

You sir have been on the money god week with this latest retracement. Eyes are peeled!!

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We're right there on the trend line now for BTC dominance.  Does BTC bounce back up here to stay in the wedge or is this where we fall out?  Volume continues to drop off over time indicating potential exhaustion of the bulls.  Problem is, if BTC falls, I don't see strength in alts either.  Not sure that this will be a robust rotation from BTC to alts or just an overall dump, with BTC dumping more than alts.  Interesting times, could get ugly.   I think, being agnostic, that the best scenario is BTC continues its march toward ATH as Eric is positing. 

CswrHglC

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Posted (edited)

XRP/BTC is likely to drop just bit more, but I doubt it goes too much further. I see support first around (edit for correction, made a boo-boo) 2730 sats....the cloud is predicting a reversal to the upside within the next several hours, here on the one hr chart.

731160950_ScreenShot2019-08-14at8_04_57AM.thumb.png.6ba6a5684f0701e452acacf720941cf5.png

Edited by dr_ed

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