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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

14 minutes ago, NMNR said:

We aren't a anywhere near bear market. This is just BTC actually correcting itself and priming for its next move. 

Someone on this forum put up a link to Blockchain Backer.  If you want to be on solid ground (as much as you can be in a volatile market) I recommend you check him out.  It was a great $39 to go through his course material.  This guy has really shaken out a set of expectations for XRP.  He's happy, I'm happy (I admit I could be much happier)

It appears this shakedown is very similar to the last 2 on 2/21 (-26% and lasted 7 days) and 3/13 (-19% and lasted 12 days).  Dont know the length of the consolidation, but this one is in line with the magnitude (-21%).  

I watch the 1 minute bars develop and get a sense of supply and demand.  Blockchain Backer, in his latest video, recommended that the action following the flash crash looks like a Wyckoff pattern.  I read up on that and it agrees with what I've witnessed so far.  The flash crash caught the market by surprise.  I saw the whole thing develop before my eyes - amazing to see it go from a trickle of selling to an all out dump in seconds (china miner story is bull).  It came in on low volume and slowly trickled the price down until automated selling and short selling started while the market was asleep.  I'm not sure what the buying mechanism was at the bottom but maybe there's more people out there like me (I filled the boat with AdA and XRP thank you - always sell the dead cat bounce though).  My point of hope is that, as the market regained it senses, the selling continued but it has been met with serious buying at 53000.   Monday morning EST the selling got heavy again and the price started toward 53k again.  I thought for sure it was going over the edge.  The selling was intense, but the buyers ate it up.  Tonight it did it again and the buyers stepped in.  If the buyers dont show up at 53k it will get ugly, but for now they seem to be content that there are adequate BTC's to be had.  The Wyckoff analysis says to think like you are the big buyer in the sky that we think is always against us.  If I was that big buyer, I'd like all the btc's you'd give me but I wouldnt want the market to collapse because lifting it up to sell those btc's will be much more costly and time consuming.  The path of least resistance is to reload the coffers with the ample sellers btc's and head to new highs.  Now, thats just me.  Actually, if I really was the big man, I'd take it to 10K and take all the btc in existence.  Then I'd run it to 120k and laugh when I redistributed it to all the suckers who read JPM saying its still going to 300k with Doge Coin.  A little humor I guess.

Seriously, there are big buyers in here and, assuming they stay around and get enough BTC, they will try to hide their intentions, but we always know they are to sell high.   Thats my hopium....favorite word I learned here.

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19 hours ago, xrp-nuke said:

More than 1 month would mean a bear market. Common Baka....

No , you dont seem to understand much tbh. We could have 2 red months and be at 45k with sideways movements before going back up to 70k+. 

That s not a bear market.

And i hope we do not do this , i d prefer we go to 51k as a bottom then go back up slowly to new ath at 70kg before consolidation again

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I'd say that's a 2 month long bear market. 

A bear market doesn't have to be a certain length of time. 

Its just a market in which the bears overpowered the bulls. 

A bull market is just a market where the bulls overpowered the bears. 

In a market cycle there is a mixture between bull and bear markets hence the ups and downs. 

Edited by BluKoo
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6 minutes ago, Baka said:

No , you dont seem to understand much tbh. We could have 2 red months and be at 45k with sideways movements before going back up to 70k+. 

That s not a bear market.

And i hope we do not do this , i d prefer we go to 51k as a bottom then go back up slowly to new ath at 70kg before consolidation again

You do realise, that the longest red period over 2017 was 3-4 weeks with 30% drop, what you are suggesting would be basically a very bearish and to be drawn out over such a long period would suggest to me, the only way is down from there 

2 months is not an option if BTC is to carry on in this bull market 

Edited by Trentsteel
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2 hours ago, Gorgalosk said:

We were .26 cents six months ago. We  see a few red candles after a massive explosion and people are already calling bear market? I can’t even. Some of you folks are just incorrigible.

Generally speaking, things are still OK. But many of us are hodlers from 2017. The late 2017 last bull run to 3 usd and early 2018 drop is memory we never forgot. Every several days lasting drop after a big run reminds us how awful it might be. So please forgive us.

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1 hour ago, happygojappy said:

FOMO got the better of me in 2017 bull market and didn't cash out. I belive it is the case for a few others.

Amen brother, I am one of those people. Greed and FOMO got the better of me and never cashed out. This time around I have taken some profits but most of my blockfolio is still packed because majority is XRP and we have not yet gotten our precious moon. It’s laughable how out of all the projects out there, and all the time in the world to file the lawsuit, the SEC decided to take a dump on us and drop a Hiroshima amidst a time where all of us were hoping to take profit. Thankfully, their case looks weak, but these things take time, still look bad (specially to an outsider who isn’t following the case closely like we are “SEC always wins” after all), and still keeps many investors away. Kinda kills the FOMO unless we get amazing news, then we’ll definitely get the FOMO and it’ll be multiplied. Next hearing is sometime in May, no? Hopefully we get a no action letter by then or they at least come to an agreement stating such by a future date. I think that would ease the doubts on most people’s minds and would make this instantly more appealing to the masses. “Oh look, XRP is re-listed on all the big exchanges again, that must mean it’s good!”.

Edited by Neurotoxin
Added “to the masses” to be more specific
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