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Epic Pennant on BTC Chart


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Bitcoin's price is up a little bit today, price action is a continuation of what has been happening.  Price is staying above the support line, Bollinger Bands are Tightening,   The 700 Day EMA will cross the Longer Term Down Trend Line tomorrow night.  As I've been saying I expect the resumption of the move upward to happen right around that time. 

8 24 2020.png

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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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17 minutes ago, Eric123 said:

Bitcoin's price is up a little bit today, price action is a continuation of what has been happening.  Price is staying above the support line, Bollinger Bands are Tightening,   The 700 Day EMA will cross the Longer Term Down Trend Line tomorrow night.  As I've been saying I expect the resumption of the move upward to happen right around that time.

26th/27th is when I am looking for any upswing to become significant (ie. when it closes above the FLD).

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On 8/23/2020 at 1:33 PM, plinh said:

I suggest this topic is only for BTC price prediction. I've been following this thread for quite sometimes, and to be honest, it's quite annoying to see the XRP prediction inside this thread. Eric may not predict right all the time but he gives some ideas about price prediction which is sometimes good to be noted. And to support his work without the XRP biased, it will be better to move all XRP price prediction to the other thread...  

 

I respectfully disagree.  This is an XRP forum, and even Eric includes XRP in his predictions.  The price of BTC and XRP are intimately connected.

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30 minutes ago, Julian_Williams said:

I respectfully disagree.  This is an XRP forum, and even Eric includes XRP in his predictions.  The price of BTC and XRP are intimately connected.

respectfully agreed, cryptos' price are so intimately correlated with BTC just like how @Cesar1810 always intimately hugs every stranger in this forum

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12 hours ago, Julian_Williams said:

I respectfully disagree.  This is an XRP forum, and even Eric includes XRP in his predictions.  The price of BTC and XRP are intimately connected.

Absolutely....and I always took this thread to basically be about BTC's influence on the market as a whole.  If BTC dumps to $3000 in the next 6 months, it's almost irrelevant talking about XRP's price speculation (unless the BTC dumping is because of some revolutionary news about XRP and the dump is BTC holders moving to XRP! :D ).

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Bitcoin's price was looking pretty strong today, then I took a shower and when I looked again the price had fallen $200. This looks like a short term reverse Bart Simpson type mini- crash which lasts usually around what 18 - 30 hours. We'll see today if the price closes above the support line, it's been breached several times but has managed to close above the line since the end of July .  Looking for a close over $11,624 for the support line to hold.  This looks like a short term reverse Bart Simpson type mini- crash.

The 700 Daily EMA will cross the Long Term Down Trend Line (based on daily close) tonight at 8pm Eastern Time. 

I've been using the Long Term Down Trend Line based on the close however I'm beginning to think that the Long Term Down Trend Line based on the high might be a better indicator.  The lines are basically the same but the High line pushes out the time frame about 3 Months. 

8 25 2020.png

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No surprise, BTC hit the $11100 target level.  Will it continue down to touch $10500?  I actually think it might range up for a while and then come down for the final test of $10500 before the next lift off.  I think we will be range bound between $10500 and $12500 for some time before the next wave up.  

I loaded up on BTC, ETH, and XRP today.

GRgAYX4P

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39 minutes ago, Neurotoxin said:

I thought this short run up we had recently was gonna last a bit longer but it ran out of steam rather quickly. 

If you zoom out, BTC has been in one steady uptrend since March.  It is always going to pause now and again, sometimes to grind sideways and sometimes to correct downward.  It's all part of a normal BTC bull cycle.  

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