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Epic Pennant on BTC Chart


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7 minutes ago, Eric123 said:

Haven't posted for the last two days which is something I don't think I've done since I've started this thread.  But actually nothing new to report on Bitcoin.  Still sideways movement looking for the break out which is coming. (any minute now)  Bitcoins Hash Rate is at an All time High.

ETH is at an All time High.

Litecoin broke it's All time high. 

Bitcoin is getting ready for a run (hope it takes XRP with it (it probably will)).

 

 

XLM made a new ATH.  XLM has lagged XRP this whole cycle.  Too me, this is not good news.  Last night, XRP wanted to pop, but someone was selling at 1.6 with enough to knock the price back all night long.  When BTC dropped, XRP retraced from pushing that resistance.  That said, the buying volume on XRP isnt very strong.

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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

28 minutes ago, Baka said:

@Eric123Would it be a good idea to switch some alts to BTC before it breaks new ATH?

With a 2-3 months consolidation , I'm sure we'll see a big pump in price really soon , to maybe 70-80kg 

Same feeling here. BTC has been consolidating for so long, the sentiment has gradually formed and 60k resistance will become a strong support. 100k is not a dream for this bullrun. 

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1 hour ago, BarnBuilder said:

XLM made a new ATH.  XLM has lagged XRP this whole cycle.  Too me, this is not good news.  Last night, XRP wanted to pop, but someone was selling at 1.6 with enough to knock the price back all night long.  When BTC dropped, XRP retraced from pushing that resistance.  That said, the buying volume on XRP isnt very strong.

It's good news. You just get here? Last time XLM started gaining on XRP, XRP moved like a biatch. Calm down, bruh. Go out and take a vape. 

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1 hour ago, BarnBuilder said:

the buying volume on XRP isnt very strong.

I don't think we will see strong volume in XRP until the lawsuit is resolved.  The big players that were involved with XRP had to stop buying XRP do to the SEC lawsuit.  When the lawsuit is over this will all reverse, honestly I'd be buying XRP now.

20 minutes ago, Baka said:

@Eric123Would it be a good idea to switch some alts to BTC before it breaks new ATH?

Depends on the ALT ETH might continue to run even though it is at an  all time high, LTC might continue to run (I think it will).  NEO I think is a good buy regardless of what Bitcoin is doing.    So I guess the answer is maybe.

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16 hours ago, Eric123 said:

I don't think we will see strong volume in XRP until the lawsuit is resolved.  The big players that were involved with XRP had to stop buying XRP do to the SEC lawsuit.  When the lawsuit is over this will all reverse, honestly I'd be buying XRP now.

Just thinking out loud here, but I think lower volume could play in our favor here. It's easier to make big price swings on low volume than it is on high volume, for obvious reasons. We saw a massive flash crash down to like 33 cents on Poloniex. (I'm not sure how far down it went cuz I don't read charts but the wick seems to go down to that range). 

The same thing could be done to the opposite side (Skyrocket the price instead of dumping it and eating all the stop losses up) on lower than usual volume now that the USA is largely taken out of the equation. All it takes is one coordinated major price swing for a little period of time to cause massive FOMO and as a consequence, massive buying feeding the rally which in turn would induce more FOMO and rallying. If you time this with a settlement or any positive news about Ripple, I can see us mooning really hard.

This is just me thinking out loud, but I wanna know what you guys think.

(I included @OldManWinter's pic of the Poloniex event from the XRP thread so anybody that works with charts can tell me if indeed it did dip down into the 30's, even if it was just a wick and not a big, fat candle).

image.png

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1 hour ago, Neurotoxin said:

Just thinking out loud here, but I think lower volume could play in our favor here. It's easier to make big price swings on low volume than it is on high volume, for obvious reasons. We saw a massive flash crash down to like 33 cents on Poloniex. (I'm not sure how far down it went cuz I don't read charts but the wick seems to go down to that range). 

The same thing could be done to the opposite side (Skyrocket the price instead of dumping it and eating all the stop losses up) on lower than usual volume now that the USA is largely taken out of the equation. All it takes is one coordinated major price swing for a little period of time to cause massive FOMO and as a consequence, massive buying feeding the rally which in turn would induce more FOMO and rallying. If you time this with a settlement or any positive news about Ripple, I can see us mooning really hard.

This is just me thinking out loud, but I wanna know what you guys think.

(I included @OldManWinter's pic of the Poloniex event from the XRP thread so anybody that works with charts can tell me if indeed it did dip down into the 30's, even if it was just a wick and not a big, fat candle).

Low liquidity is one of the reasons we see so much volatility in the crypto markets, even Bitcoin is subject to this to a lesser extent, but you are right the situation is exacerbated with XRP especially since much of the US (except DeFi) is locked out of trading XRP.

Large swings can happen especially on the smaller exchanges but they are short lived because traders will arbitrage off other exchanges and correct the imbalance, but bargains can sometimes be picked up.  I think it was a few years ago ETH hit like $30 or maybe even $3 on an exchange for a few seconds.  So it's not a bad Idea to put a very low buy order on a small exchange.

As far as whether this could set off a larger run?  Unlikely.  Unless there is some real juice behind it traders will dump into the buying.

Yes on that chart XRP did trade in the .30's.

Anyone know the reason for the flash crash??  It looks just like whales taking out stop losses.  That's why I always say never use stop losses and never use leverage.   

 

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Btc wave becomes shorter and shorter. Yesterday should be red but it becomes a Green Day. Today it starts with green and then it looks like it will close as a red day. We are experiencing a lot of crazy fluctuation.

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I cleaned up the chart removing the Bollinger Bands and the other lines.  I left only the support and resistance lines on the daily highs and lows.  These look line the import lines to me.  I think Bitcoin's price breaks resistance soon, if I had to guess I'd guess within 4 days.  We'll see if I'm right.   

5 12 2021.png

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Posted (edited)

BTC went too fast for the beginning of the year. In 2017, BTC didn't reach the 3x ATH until the first week of June. This year it got to 3x ATH in March already so BTC has a lot of room to go down or just hooving around like now before it retakes 60k.

If it breaks up, it will probably come down soon after.

In a word, BTC price will be more or less the same for quite a while. say 2 months before going SOLO up again. 

We're now in a full fledged alts season, remember?

So can we be sure the bull market will not end in the summer now? @automatic @Plikk

Edited by MQB
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4 hours ago, Trentsteel said:

I just get the feeling BTC is looking a bit knackered, keeps getting knocked back at certain levels and looks primed for another leg down. Don’t think that’s the end of this bull cycle by any means 

I think we’re likely within months of the end. But that’s just my opinion. :)

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