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Epic Pennant on BTC Chart


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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

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

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

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3 hours ago, ripplewaytogo said:

Always interested, do TA actually works on Cypto? It barely works on stocks..................

Interesting question and depends on what you are trying to use it for. 

Can you predict the future with TA?  No.

Can a good technician get a sense of entries, exits, and potential trends that give them an edge over a person just blindly investing based on emotion?  Absolutely yes.

TA can be very effective when used correctly, with appropriate understanding of its uses and of its limitations.  Usually, the simpler the technical analysis, the more likely that it is effective. 

TA is essentially a means to quantify market psychology.  In the end, it is just a way to understand the cumulative actions of market participants at any given time.

Right now, TA says crypto is in an emerging bull market.  Long term resistances are being taken out with relative ease.  If you have already established a position, feel good about that.  If you have capital to spare, buy the dips that will inevitably come.  Embrace the volatility, because BTC can easily drop 20-30% in a day or two, even during a raging bull market.

Enjoy.

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XRP inches closer to the resistance at $0.26.  Price continues to trend up very nicely.  The daily RSI says we are starting to get overbought, so it wouldn't surprise me if we pull back when we hit $0.26 and consolidate a bit before retesting and hopefully taking it out.  I am planning to flip my XRP to USDC once the $0.26 target is met and wait to see what the price does at that point.  

As this bull market develops, I am starting to feel as though this may be more than a short term pump, but rather the start of something much bigger.  

BTC will lead the way, of course.  

Good news about XRP retaking #3.  

b7v4YNdu

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55 minutes ago, MQB said:

XRP gaining more sats when BTC pumps

Weird.

I noticed that as well and my explanation is that people are flipping profits from one back into the other.  When BTC is pumping, alts are usually stable or dropping.  Then, when BTC cools down, alts pump up.  Rinse and repeat.

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42 minutes ago, Master_of_Brain said:

Lol so much PTSD in this crowd... if you are going to finally profit from all of the holding you've been doing, need to let go of the bear mentality and embrace the bull market, along with the volatility that comes with it.

That would be the sad part of it all, that some of this pessimists might actually profit from something they have been fighting and shooting down for years.

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Bitcoin still holding it's gains pretty well and XRP is making decent movement.  ETH and LTC looking good.  Basically looks like the stage has been set for the bull cycle to begin.  The global macro economic picture, tragic as it is could not be better for Bitcoin.  It's almost as if bitcoin was created in anticipation of 2020. 

7 30 2020.png

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2 hours ago, Eric123 said:

Bitcoin still holding it's gains pretty well and XRP is making decent movement.  ETH and LTC looking good.  Basically looks like the stage has been set for the bull cycle to begin.  The global macro economic picture, tragic as it is could not be better for Bitcoin.  It's almost as if bitcoin was created in anticipation of 2020. 

7 30 2020.png

This year and most likely 2021, is the acid test for Bitcoin.

Convinced we're on the edge of a global depression and FIAT currency collapse's, this is everything Bitcoin is made for.

Enough of the mirror to the S&P etc..

Time will tell

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2 hours ago, Eric123 said:

Bitcoin still holding it's gains pretty well and XRP is making decent movement.  ETH and LTC looking good.  Basically looks like the stage has been set for the bull cycle to begin.  The global macro economic picture, tragic as it is could not be better for Bitcoin.  It's almost as if bitcoin was created in anticipation of 2020. 

7 30 2020.png

 

IMG_20200730_181906.jpg

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4 hours ago, Master_of_Brain said:

Lol so much PTSD in this crowd... if you are going to finally profit from all of the holding you've been doing, need to let go of the bear mentality and embrace the bull market, along with the volatility that comes with it.

I tend to be pessimistic sometime but I see it as tampering expectations. I don't consider this a bull market yet. We've just had a couple of good pumps over the past couple days; any of you that have been around, at least, as long as I have knows that this can deflate in 12 hours, easily.

Bitcoin deserves a little more optimism (perhaps) but XRP has a way to go before I get excited about it.

There is nothing Bull Market-esque about XRP until it starts starts pushing towards $0.45 (give or take) with some good momentum. XRP spent ages around $0.30 before the bottom fell out of it. So XRP needs to recover before we start talking about Bull Market.

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1 hour ago, AlejoMoreno said:

I tend to be pessimistic sometime but I see it as tampering expectations. I don't consider this a bull market yet. We've just had a couple of good pumps over the past couple days; any of you that have been around, at least, as long as I have knows that this can deflate in 12 hours, easily.

Bitcoin deserves a little more optimism (perhaps) but XRP has a way to go before I get excited about it.

There is nothing Bull Market-esque about XRP until it starts starts pushing towards $0.45 (give or take) with some good momentum. XRP spent ages around $0.30 before the bottom fell out of it. So XRP needs to recover before we start talking about Bull Market.

Still waiting to get the ham and turkey out of the freezer? Dare to dream this is the time, you’ve been deflated that many times  you can’t let yourself feel hope😂😂 I’ll wake you @ $1 we can feast 👍

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@Beatrice Bart Simpson patterns usually don't take place on that time frame or with this amount of volume.  That being said there have been numerous Bart Simpsons and reverse Bart Simpsons patterns within this move on the minute chart. 

Also I wanted to mention.

Happy 5th Birthday Ethereum !!:JC_doubleup:

Edited by Eric123
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