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Epic Pennant on BTC Chart


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3 hours ago, Eric123 said:

Bitcoin Just had it's second highest monthly close ever.  

deep V pattern like this more than often is a strong indication of reversal, in this case to the upside, just need time to see it unfold, regulatory clarity is coming (not sure how long it will take but it is coming), bank custody dropped the first domino, it's going to get more clarity at this point, and with pandemic, people are going to rely more on digital payment, they will figure out new way of businesses that doesnt involve brick and mortar, especially those cross country selling, at some point they're gonna know cross border payment is a pain, i personally too experienced it, i want to buy MGI stock and the only way is to wire the $$ to US bank, took many days and by the time it reached, MGI has pumped and i missed it, what a pain in the A, moreover other companies will have liquidity issues if oversea money dont arrive fast enough

everything is aligning well, just let it unfold, if it doesnt then so be it ride it to 0, no hard feelings, i took the chance for potential life changing gains, and going to 0 is part of the outcome that i'm signing up for

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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

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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53 minutes ago, Jotaro said:

back in the days when there's no escrow, the huge supply is already available, the May 2017 pump still happened ;)

now they're just locking those huge supply and only release a small part of it every month, it's no different than not locking the supply before May 2017,the supply is still the same,  the only difference is there's comfort knowing that ripple cant dump everything 1 shot because of the lock mechanism

when there's no escrow people complain ripple can dump 1 shot, after there's escrow people keep bitching about the monthly small part release, guess people can find excuses to bash no matter what huh

reminds me of that comic of the couple & the donkey in 4 scenarios:
1. husband let wife ride the donkey, people say the husband is stupid
2. husband ride the donkey instead, people say husband is not a gentleman
3. both husband and wife ride the donkey, people say they hurt the animal, animal cruelty
4. both husband and wife dont ride the donkey, people say they're stupid not utilizing the donkey to travel long distance

alright, no more replying / feeding the trolls, suit yourself, not happy then sell, tired of seeing low effort garbage comment

Time will show who is trolling

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12 hours ago, Master_of_Brain said:

Initial target of $0.26 hit on XRP, now watching for re-entry if it breaks above the big resistance.  RSI suggests XRP should pull back here.

1AP4qjzB

Well that was easy.  Back in on my XRP position.  Next potential resistance at $0.28 but I now think it possible for XRP to take a run at $0.34 to complete the cup pattern.  That also would make for a good spot for a pull back to finish off the cup and handle pattern, which would be very bullish.

TZrXJ2RU

Edited by Master_of_Brain
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39 minutes ago, Julian_Williams said:

This is a forum for investors to discuss the merits and news stories surrounding XRP.  I would think aggressive negativity from someone who is no longer investing in XRP is trolling? 

i think i know why he's here to spread this negativity, as Trentsteel said he sold his xrp, and now xrp is rebounding hard, if i were him i'd be pissed and kicking myself right now LOL, let's have a moment of silence for the weak hands that sold too early

37 minutes ago, Julian_Williams said:

.267 - we seem to be attempting to cross this most important resistance point.  I guess it will take a few attempts over a sustained period?

already crossed

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Posted (edited)

Pulled out on the Bitcoin Chart and considered the EMA's versus the Trend Lines on a longer time frame.

Two considerations:

1.  Will the cycle replay:  maybe

2.  Am I placing the Trend lines correctly:  I think so as we get major moves when certain EMA's cross the Trend Lines.  The current move coming just as the 300 Day EMA crossed the Down Trend Line.

Anyway these charts are interesting.  You can see what the price has done when the 600, 700 and 800 Day EMA crossed the Down Trend line.

The Bull Run started when the 600 Day EMA crossed the Down Trend Line.  This will happen again around August 16.

 

 

8 1 2020a.png

8 1 2020.png

Edited by Eric123
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14 minutes ago, Beatrice said:

If you havent purchased stock via EqityZen or one of the actual investors, none of the people here are investors. You are speculators. 

Well, it's a funny response but not that black or white. It's also an aspect of the entire debate what a crypto asset is.

https://www.investopedia.com/ask/answers/09/difference-between-investing-speculating.asp

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1 hour ago, Eric123 said:

Pulled out on the Bitcoin Chart and considered the EMA's versus the Trend Lines on a longer time frame.

Two considerations:

1.  Will the cycle replay:  maybe

2.  Am I placing the Trend lines correctly:  I think so as we get major moves when certain EMA's cross the Trend Lines.  The current move coming just as the 300 Day EMA crossed the Down Trend Line.

Anyway these charts are interesting.  You can see what the price has done when the 600, 700 and 800 Day EMA crossed the Down Trend line.

The Bull Run started when the 600 Day EMA crossed the Down Trend Line.  This will happen again around August 16.

 

 

8 1 2020a.png

8 1 2020.png

Looks like the bull market starts really when the price crosses the long term averages rather than the trend line.  I continue to believe that the bull market was already underway and should have been higher now except that the COVID panic set BTC back and delayed the rise.  But it looks as though the market is back on track now.  There will be plenty of pullbacks and scares but if the prior patterns  hold, we should remain above the long term moving averages all the way to the top.

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17 minutes ago, Master_of_Brain said:

Looks like the bull market starts really when the price crosses the long term averages rather than the trend line.  I continue to believe that the bull market was already underway and should have been higher now except that the COVID panic set BTC back and delayed the rise.  But it looks as though the market is back on track now.  There will be plenty of pullbacks and scares but if the prior patterns  hold, we should remain above the long term moving averages all the way to the top.

Do you think BTC is exposed to a second systemic downtrend in the event that world conventional markets retrace again?

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43 minutes ago, ManBearPig said:

Do you think BTC is exposed to a second systemic downtrend in the event that world conventional markets retrace again?

If I had to guess, I'd say no.  Same as the precious metals, they had their initial dump along with everything else and now I expect them to remain safe havens going forward.  The US dollar has been on a pretty steep downward trajectory since late June and I do expect a brief correction to the upside in the near term as it finishes off its daily cycle.  This will almost certainly result in a pullback in precious metals and stocks but I'm less sure about BTC, as the correlation between BTC and USD is much less than with other assets.  Just something to keep in mind over the coming weeks.

USD will almost certainly turn higher and may very well have bottomed out on Friday and already posting its reversal.  Trade accordingly.

DqjcXgo6

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