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Epic Pennant on BTC Chart


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8 minutes ago, Raekwon said:

XRP is mooning!!ūüĆô¬†

Looks to me to have got stuck near its 2 year low and struggling to reach .24 after having the worst start to 2020 in the top ten alts which had a good years in 2019.  (but it terms of news it has the best start)

I believe it will moon one day, and it might start suddenly.

Edited by Julian_Williams
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Just taking the time to say a huge thank you to you @Eric123. I have been reading this thread daily for a long time now. I don't often sign in to post something so this thank you and acknowledgment of

Well guys for those of you that got in late 2017, this is what the beginning of a Bull Market feels like.  There will be ups and downs of course, but it will get much crazier with much higher valuatio

I was a bit bored, so I decided to analyse the reactions in the first 404(!) pages of this thread. In those 404 pages, 3938 comments received a reaction, and in total there were 11515 reactions g

Bitcoin is still following the Trend Line more or less.

@Milly238 I don't really see if following the trend line straight to Feb 8.  But I think to compete the revers H&S pattern we should see at least $9.5k to $10k before we drop off.

Craig Wright does not have access to 1.1 million Bitcoin.  No Kidding.  Wright appears to be a psychopath and his followers delusional. 

https://cointelegraph.com/news/bitcoin-sv-drops-40-as-lawyer-admits-craig-wright-has-no-private-keys

1 18 2020.png

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5 minutes ago, Eric123 said:

Bitcoin is still following the Trend Line more or less.

@Milly238 I don't really see if following the trend line straight to Feb 8.  But I think to compete the revers H&S pattern we should see at least $9.5k to $10k before we drop off.

Craig Wright does not have access to 1.1 million Bitcoin.  No Kidding.  Wright appears to be a psychopath and his followers delusional. 

https://cointelegraph.com/news/bitcoin-sv-drops-40-as-lawyer-admits-craig-wright-has-no-private-keys

1 18 2020.png

Shocker... he had all the credibility in the world :rolleyes:

Seriously though, this is good news for the crypto world in general.  Last thing we needed was a crazed psychopath with billions worth of BTC and an ax to grind.  BTC is looking very strong.  The next firm resistance after 9k is a zone between $9500-9800.  Volume is rising which usually precedes further positive gains.

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Uptrend VTL and FLD are broken. The cycle is playing out as expected, we finally entered the last retracement wave. I projected this particular impulse to have reached around 8440, so it could yet go a little lower and there may be other impulses lower. Once the low is in we will begin a new cycle and climb to the upside.

Cycles11920.thumb.png.2151118ada145d5629f89550753fb55e.png

 

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For anyone interested, this is a simplified example of how a perfect Hurst cycle plays out.

attachment.php?attachmentid=1975437&stc=

The gray waves are added together to give the blue wave. Keep in mind that there can be many waves of differing influence which will skew the points somewhat into the price action we are familiar with.

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Well the excitement continues.  The good news is we are still above the downtrend which began June 2019 and the Moving Averages have ascending and we should have a golden cross of the 50/100 Day within a week. The last Day - and a half really just looks like short term profit taking.  Thinking of picking up some more XRP.

1 20 2020.png

Edited by Eric123
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I would exercise caution entering any trades right now :

Cycles12020.thumb.png.5fced0bbd9220a25ed72f2cdb7f18cd5.png

Close-up...

Cycles12020.thumb.png.60fa775c01359bf13c85fb7dd5e7418c.png

1. Red MA is pointing down suggesting possible down-trend.

2. Green MA is the same.

3. Blue MA is pointing up suggesting possible up-trend

4. Red envelope pointing down.

5. Green envelope is up.

6. Blue envelope is up.

7. Price is bouncing around FLD (fuchsia) without any clear sign of direction.

8. Price is bouncing around octave center of gravity (octave mean, horizontal dark blue).

9. Price is close to the middle of the envelopes, ie. near envelope means.

For me there is not much clarity on trend direction right now and if you look at the last leg of previous cycles you can see there can be big moves yet to finish the cycle. I am waiting to see a major break of the FLD confirmed by the MA's and envelopes. Then it may be possible to draw a new VTL (trend line).

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