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Epic Pennant on BTC Chart


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2 hours ago, Master_of_Brain said:

I should clarify something, I think, since I keep posting on an XRP forum about buying BTC, ETH and DeFi tokens (everything except XRP lol).  

I like XRP.  I think there is a good chance it will have its day.  But I have also learned, through repetitive fails and pain, not to fight trends.  ETH and the DeFi crowd is a good story right now and thus is showing more strength than the rest of the market, including BTC and XRP.  I will ride that for now.  But, at some point, when the real bull market mania begins, people will notice XRP and the ecosystem they are building, the professionals at Ripple, etc and they will see the low price and start to pile back in.  And maybe, just maybe, utility will actually lend a hand this time around (though nary a sign of this right now).  There will plenty of time to jump back in once it starts to show some fight, but right now XRP is more of a passive market participant, just blowing in the wind of the greater market.

Anyway, I like XRP, it was my gateway drug to crypto, and that is why I am here.  Not wanting to offend anyone with my constant purchases of other cryptos :lol:

Most Defi coins are 80-90% down, you've got steel balls holding it now

YFI a little better but I doubt it'll hold for too long.

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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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Quick update on this red, red day.  Animal spirits seem to be setting in here and it seems as though the crypto market wants to head lower.  

For BTC, there is a huge amount of liquidity around the $9000 range (green box) and that is where I think, and rather hope, that the decline will end.  But this could weight heavily on alts and I readily expect to see ETH below $300 and XRP possibly below $0.20 before this is done.  If you were had some extra cash on hand and were looking to buy, I think you are going to get a good opportunity to do so in short order.

Qofl7GK2

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@Master_of_Brain will soon be time to rebuy . I see price going down for some weeks/months , not just days

All the youtubers stopped posting since a week , all were so bullish and said 14k in september , well .. we re just early September but you can see that we re going down an that s only the beginning

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21 minutes ago, Baka said:

@Master_of_Brain will soon be time to rebuy . I see price going down for some weeks/months , not just days

All the youtubers stopped posting since a week , all were so bullish and said 14k in september , well .. we re just early September but you can see that we re going down an that s only the beginning

Well, there's a point where further declines start to change the likelihood that we are in a bull cycle.  If we start to give up long term averages on the daily, and particularly weekly levels, that is cause for concern.  I don't share the view that we are dropping for months because that would invalidate the bull case; if I thought that, I wouldn't be here.  

But, you've proven to be strangely accurate in your calls and the possibility is certainly there.  But I likely won't be cheerily holding all the way down to 3k or something like that.  

Out of curiosity, what are your price targets?

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25 minutes ago, Baka said:

@Master_of_Brain will soon be time to rebuy . I see price going down for some weeks/months , not just days

All the youtubers stopped posting since a week , all were so bullish and said 14k in september , well .. we re just early September but you can see that we re going down an that s only the beginning

I disagree with this.

BTC filled the gap down, we "may" go as low as 9500 but it'll be short lived. XRP won't drop below .225.

IF we do break those levels, then the argument is there we'll make lower lows (at least alts will), but all TA is pointing to a bounce soon. 

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9 minutes ago, Master_of_Brain said:

Well, there's a point where further declines start to change the likelihood that we are in a bull cycle.  If we start to give up long term averages on the daily, and particularly weekly levels, that is cause for concern.  I don't share the view that we are dropping for months because that would invalidate the bull case; if I thought that, I wouldn't be here.  

But, you've proven to be strangely accurate in your calls and the possibility is certainly there.  But I likely won't be cheerily holding all the way down to 3k or something like that.  

Out of curiosity, what are your price targets?

Since we are on BTC topic , I'll talk about my BTC targets :

I'm sure we ll see the 8k-9k's BTC pretty soon , if we get under the 9k$ well we can go down to 3-4k , there is a blank , not sure how to say in English but there is a blank at 9k BTC too , and we often(really really often) refill the blanks.

So.. 3-4k may be possible. if we get to those levels , it will suck maybe because people will maybe leave for good the market and it can cause great long term damage.

It won't for me , I'll buy all the way down , and as always , sell when the green candles arrive . Don't think about 100x that's how u hold and don't make $ , sell when you are in green because you can be almost certain that the price will go down again.

 

I have my TA for this year , first sell was at 9.8k BTC (from 4k) , I sold a good % . there was a 30% chance to me that we would top at 12.1k and we did,  I sold my last %. in my TA there was a double top at 12K and then we would go down , to at least 9k. atm its working like I thought , I didnt rebuy at 11K to resell at 12K tho but I'm starting to rebuy since yesterday and will until it goes to the bottom.

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7 minutes ago, Ramforinkas said:

I disagree with this.

BTC filled the gap down, we "may" go as low as 9500 but it'll be short lived. XRP won't drop below .225.

IF we do break those levels, then the argument is there we'll make lower lows (at least alts will), but all TA is pointing to a bounce soon. 

well , people said if we break 10.5k than we re in bad situation , 10k BTC went from a support to a resistance. 

Even if we go back to 10.5-11K BTc in the coming days , it may be just a bounce and we shall go down even more.

Let's see.

 

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You know what really irks me about this is I knew it.... i KNEW it, set my buys up to ladder in the whole way down and I totally fell for the second bull trap up to $12k. 

It's all part of learning but patience is my biggest weakness and it cost me here a chance to buy even more at these levels.

There's always next time....

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The real crypto pricing psychological levels aren't necessarily a number, it's a news item. Buffett just sold off a bunch of Wells Fargo who took a 2B loss recently. If he sees banks having shaky balance sheets again like 2008 then the equity market is going to go down since the solidness of the banks along with tech has been the only thing artificially propping up stocks during the pandemic. Unfortunately, crypto won't be a hedge against equities or inflation, it'll just go down along with fiat and stocks at the same time. What I do think has barely been tapped is private market crypto equivalent 'real assets' and therefore could be the actual hedge during this downturn in crypto land. For example, digital real estate (domains as stores of value and developer branding to the masses for the global blockchain arms race) and infrastructure (mining farms, top developers) or even buy outs whereby some of these BS coins literally take money to dump their blockchains and strip down to the 'real asset' behind the valuation. This might sound crazy but it can and will be done for bigger fish to grab market share and the infrastructure of their competition - addition by subtraction. Fractal movement isn't ever going to end otherwise. Blockchain developers are the rockstars of the future and companies will have to provide them fertile digital land.

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