Jump to content
Eric123

Epic Pennant on BTC Chart

Recommended Posts

2 minutes ago, AlexJohanson said:

I.e this is a coordinated pump ( historically followed by a dump ) ? 

I don't think so , XLM follows the same pump as XRP.
It's always the same ratio , XRP = 4x XLM price , approximatively.

Share this post


Link to post
Share on other sites

IMO this is a very healthy consolidation of recent gains for the whole market, BTC and XRP included.  We were at risk of running into a parabolic blow off with a big drop... better to stop along the way to let the chart catch up before the next leg up.

Share this post


Link to post
Share on other sites
53 minutes ago, Molten said:

IMO this is a very healthy consolidation of recent gains for the whole market, BTC and XRP included.  We were at risk of running into a parabolic blow off with a big drop... better to stop along the way to let the chart catch up before the next leg up.

With all this volume we must be eating a lot of sell orders...how long is it decent to wait before the next leg up if it happens? 

Share this post


Link to post
Share on other sites

Price almost always follows volume. The other TA indicators don't really seem to matter all that much. As soon as volume starts dropping, its usually time to sell.

Share this post


Link to post
Share on other sites
1 minute ago, invest2lose said:

We went from 6b to 4.5b in volume. We losing steam?

It could repump but if it doesn't within a few days, I'd say XRP will probably start retracing against BTC. I don't think it will drop against USD since I think BTC will continue to go up for a while. I mean BTC could retrace temporarily, but overall the next 2 months I think the overall direction is up.

Share this post


Link to post
Share on other sites

In addition to my last post, the real enemy of alt coins is not so much BTC retrace but Bitcoin Stagnation. When Bitcoin stagnates, volume is lowest and Alts slowly lose ratio, bitcoin stagnation is actually worse for alts than Bitcoin retracement because Alts more than Bitcoin depend on sudden bursts of volume to go up or hold their position.

 

Share this post


Link to post
Share on other sites

Trend lines are converging.  Down trend Line and Up trend Line are scheduled to meet after the halving.  I think bitcoin will break above the trend lines (we are above the lower one now) and those lines become support, withing the next few weeks, if everything plays out as planned - those lower levels will get left behind and we will see some dramatic price moves. 

2 14 2020.png

Share this post


Link to post
Share on other sites

This correlates well with Bob Loukas's predicted 3 year bull run, started Feb last year, reach AtH late this year, then mid next year parabolic to new ATH ( that was for BTC, but general market trend)

Edited by HumphreyBear
Update

Share this post


Link to post
Share on other sites
32 minutes ago, HumphreyBear said:

This correlates well with Bob Loukas's predicted 3 year bull run, started Feb last year, reach AtH late this year, then mid next year parabolic to new ATH ( that was for BTC, but general market trend)

That is kind of the pattern I'm looking at. But I do expect a pullback right after halving, perhaps to around $10,000 or $8,800.

Share this post


Link to post
Share on other sites
On 2/13/2020 at 8:29 AM, Baka said:

I don't think so , XLM follows the same pump as XRP.
It's always the same ratio , XRP = 4x XLM price , approximatively.

Why? I really would like to know 

Share this post


Link to post
Share on other sites
6 minutes ago, Lambosexual said:

Why? I really would like to know 

XLM price is entirely supported by Jed buying when necessary in my opinion.  It’s totally fake because without his repeated support it would be much less.  So presumably that level is the one that he feels is achievable.

I could be wrong about this and don’t really have any evidence but he clearly wants to support price hence the useless burn in recent times.

Share this post


Link to post
Share on other sites

×
×
  • Create New...