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Eric123

Epic Pennant on BTC Chart

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To press the mood a little bit, I'd like to mention the fact that since the all-time high the heights have become lower and lower and we're still moving downwards.

The last time XRP saw the $1 was on February 22, 2018.
The last time XRP saw the $0.90 was on May 5, 2018.
At the end of September 2018 XRP shot again briefly at 0.75$ to end the day with 0.58$.
On June 23, 2019, XRP last shot over $0.50, but then dropped to $0.47 or so.

Instead, what have we experienced in the meantime?
The support at 0.285 broke down as if it didn't exist and we are moving into regions that are not far away from the values of the pre-bubble phase.

Have a look at the chart, the whole climb of the last 3 weeks - wiped away like dirt from the tabletop.

This is Crypto.

I hope we break through the long ugly descent and see a pump that goes over 0.50$. I would call this a trend reversal, because after the ATH it was only downhill so far.

 

 

Edited by Elysium2030

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38 minutes ago, invest2lose said:

why's that interesting?

Because everyone says Bitcoin drags the market as if Bitcoin dumps first and triggers a market meltdown.

XRP dumped first and Bitcoin dumped after that.

From what I know about these bots and algorithms is that they can be set to respond where a sell-off in one of the main assets, will trigger a sell off in other assets.

So perhaps it wasn't Bitcoin that kicked it off.

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33 minutes ago, Elysium2030 said:

To press the mood a little bit, I'd like to mention the fact that since the all-time high the heights have become lower and lower and we're still moving downwards.

The last time XRP saw the $1 was on February 22, 2018.
The last time XRP saw the $0.90 was on May 5, 2018.
At the end of September 2018 XRP shot again briefly at 0.75$ to end the day with 0.58$.
On June 23, 2019, XRP last shot over $0.50, but then dropped to $0.47 or so.

Instead, what have we experienced in the meantime?
The support at 0.285 broke down as if it didn't exist and we are moving into regions that are not far away from the values of the pre-bubble phase.

Have a look at the chart, the whole climb of the last 3 weeks - wiped away like dirt from the tabletop.

This is Crypto.

I hope we break through the long ugly descent and see a pump that goes over 0.50$. I would call this a trend reversal, because after the ATH it was only downhill so far.

 

 

XRP has been in a long drawdown ever since ATH (with pumps sprinkled here and there). I know the general idea behind most TA is to be "optimistic" but I think it is too soon to say this is a reversal just yet. 

Bitcoin has already had a reversal and is likely okay. XRP can easily go lower even below the "weak paper floor" the exists around $0.26 or so.

(But of course I hope I am dead wrong).

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I’ve been anxiously waiting for this leg down that we just experienced. I’ve had this chart drawn with a target of $7231 for quite some time now. We just about hit that 0.618 fib retracement which Is textbook for a wave 2 retrace. It feels like we’re all systems go for the next wave up now!

D2B3E7DA-D0D3-47CF-B926-422C51238BE8.png

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33 minutes ago, eggsarepeas said:

I’ve been anxiously waiting for this leg down that we just experienced. I’ve had this chart drawn with a target of $7231 for quite some time now. We just about hit that 0.618 fib retracement which Is textbook for a wave 2 retrace. It feels like we’re all systems go for the next wave up now!

D2B3E7DA-D0D3-47CF-B926-422C51238BE8.png

are you buying more at these levels?

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1 hour ago, invest2lose said:

why's that interesting?

It's interesting because maybe the two things are directly related.

Trying to think like a whale.....if you knew XRP price was about to dip significantly and you had some you bought previously at higher prices, then you could sell XRP, then sell a sh!t-ton of BTC and drive the price down and get your XRP back cheaper.

But you'd probably only want to do this if you were accumulating XRP.

Does that narrative make sense? It kinda does to me.

Edited by dr_ed

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1 minute ago, Milly238 said:

Oo.  So what're your time predictions for the next wave up? Are we talking about days, weeks, months etc?

IMHO, I don't anticipate it being a sharp rise. BTC has always had a slow build up and I don't see why that would change. There will be retraces along the way just like there was from $3200 to $13900.

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4 hours ago, Julian_Williams said:

I am looking out to see if XRP is the first to start gaining value.  A few weeks ago this was a pattern, it would be a very positive sign but recently XRP has seemed to me to be weakening again.

Yea I’m torn between buying the XRP or BTC dip for a short term trade (1 month). I’m thinking that XRP will provide good gains based on the pattern you mentioned above, but also it has been weakening. 
 

hmmmm..... might just sit this dip out. Hard to read. I’m getting gray hair.

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2 minutes ago, Palerider said:

Yea I’m torn between buying the XRP or BTC dip for a short term trade (1 month). I’m thinking that XRP will provide good gains based on the pattern you mentioned above, but also it has been weakening. 
 

hmmmm..... might just sit this dip out. Hard to read. I’m getting gray hair.

XRPBTC chart would suggest that XRP might be a better buy but anything goes short term.

In both cases though, I'd say:
When there's blood in the streets...

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