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Epic Pennant on BTC Chart


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34 minutes ago, Julian_Williams said:

....and what is the point you are trying to make?  You want people to feel XRP was overvalued and missed out because it is some sort of scam, or you want us to think now is the time to invest?  Given your record for negativity I assume it is the former?

More than any other token XRP stands on its own for what it is. For me the performance against other coins is irrelevant since I purchased on the basis of potential in the real world, and the fact that the price has remained low has helped me go on accumulating without risking the stock I already hold.   I think I will look back at the low price of XRP during 2018 and the Spring of 2019 as being a stroke of luck rather than as a bad omen.  

I'm providing a fact, feel free to what you think.

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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

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

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

BREAKING NEWS:

XRP sux compared to others over 4 month period.  Sell now to avoid the rush to the door.  

Oh...   and...

Crypto ded.  

dead funny dog GIF

 

 

Nb.  Not investment advice from a not financial advisor.  

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10 minutes ago, Cesar1810 said:

guys, guys ... let's keep this beautiful thread like it came ...jajajja ;)

 I love you many international cronies

hug .... and hodl

Is there anyone here who's not international? :big_boss:

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8 hours ago, Cesar1810 said:

guys, guys ... let's keep this beautiful thread like it came ...jajajja ;)

 I love you many international cronies

hug .... and hodl

My sentiments exactly. Save the XRP bashing and the GIF's for some other thread. Comment on the TA or post your (original) chart analysis. That's my profound wish. This is a great thread. It isn't limited to XRP. In order to see where XRP might or might not go, it is instructional at this point to look at other charts.

Not that it matters what I think. Remain calm and carry on.

International, like how? Multiple passports? Sovereign citizen?

I'm a USAnian, myself.

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Good question, @Milly238  It's a bullish consolidation pattern. Allow me to quote.....

"A flag or pennant pattern forms when the price rallies sharply, then moves sideways or slightly to the downside. This sideways movement typically takes the form or a rectangle (flag) or a small triangle (pennant), hence their names. Draw trendlines along the highs and lows of the sideways price action. The sharp price rise preceding the flag or pennant is called the flag pole. 

The sideways period is often followed by another sharp rise. This is where the trading opportunity comes in. Once the flag pole and a flag or pennant have formed, traders watch for the price to breakout above the upper flag/pennant trendline. When this occurs, enter a long trade."

https://www.investopedia.com/university/charts/charts6.asp

I'm not a trader, but if I were looking to add, say, I'd wait now until we see BTC begin to break out of this pattern to the upside.

But many charts look just like BTC this morning, including XRP and LTC. Generally I take it as a sign that the gains from this last pump will hold, at least, and we won't give 2/3 of it back this time.

Edited by dr_ed
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@Milly238 Look at LTC on the 3hr. (Anybody can look at this on the Bitfinex demo, btw, you don't even have to log in).

See how LTC made a flag, consolidated sideways and then broke out again and made another flag?  That's the way it works when things are going well. But volume is super important. As  the pumping cools and volume drops off, it is possible for a flag to break to the down side.....that's why traders wait for the next pop to begin before buying. So far volume looks reasonable and the pattern can be expected to hold. But it's not written in stone.

1672107671_ScreenShot2019-05-28at9_45_25AM.thumb.png.a68be531ce255eb4036b1448bf6b096e.png

Edited by dr_ed
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