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Epic Pennant on BTC Chart


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Posted (edited)
13 minutes ago, Xrpdude said:

Which I think we can (probably) both agree is anyone's guess really. Nobody knows what's going to happen next. 

TA is a distraction, and limited in its use as a prediction "tool" imho. I think the fact we've been 50% down for a while to me personally is worrying. But I wouldn't wrote off an upsurge from here. What worries me further though is the media sentiment has gone a bit negative and the last surge was arguably built on Elon musk's positive tweets about Tesla. Who saw that coming? The *second richest person in the world* went pro bitcoin in a big way and the price reflected that. Can BTC get back there *without* such exceptional circumstances, but just under its own steam, or because some say the charts suggest it might. 

Let me ask you this, how was sentiment in March-April 2020? Was it a good time to buy back then? ;) 
 

How was sentiment in Jan-March 2018, when the cycle had ended and we entered the bearmarket? Sentiment was actually very good still, with hopes and dreams from investors and people on social media still at the very top. 
 

It’s one more reason why I think we are not done with the bullcycle yet, euphoria hasn’t peaked, 80% of alts has not even seen previous ATH’s and sentiment ever since the drop is almost as poor as in April 2020. 

Edited by Plikk
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Another note: I see some people either selling all or keeping the entire stack in uncertain times.

Why? That seems more like gambling to me than applying TA and set multiple targets. I would never sell all my crypto nor would I hold on to all of it when prices have already peaked high. 
 

It does not have to be a zero-sum game. 

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1 minute ago, Plikk said:

Let me ask you this, how was sentiment in March-April 2020? Was it a good time to buy back then? ;) 
 

How was sentiment in Jan-March 2018, when the cycle had ended and we entered the bearmarket? Sentiment was actually very good still, with hopes and dreams from investors and people on social media still at the very top. 
 

It’s one more reason why I think we are not done with the bullcycle yet, euphoria hasn’t peaked, 80% of alts has not even seen previous ATH’s and sentiment every since the drop is almost as poor as in April 2020. 

The stand out for me in Jan 2018 was the US talking about regulating the Crypto market - I don't call that particularly favourable sentiment, maybe that's just me. Yes, there were still people shouting about the Moon and Jupiter or whatever which is just noise - with respect, which is why each of us in turn matter basically nothing in this multi-trillion dollar industry. What I or you think means very little practically i.e. we have zero influence over the market. 

The fact that 80% of alts haven't peaked I agree could be a sign, but I am not confident that all coins will peak - there are more tokens out there now, more noise, more hype, more P&Ds, more exchanges etc etc, so value is spread arguably across more projects. You also don't know for sure whether or not euphoria has peaked, so little point us going there. When people were throwing money at SHIBA INU I'd say there was a certain amount of euphoria, so an argument for both sides re whether we have peaked or not. 

There's no hard and fast rule that says alts must peak - again in the four years that have passed since the last cycle circ supplies of many tokens have increased significantly, therefore maybe the dollar amount of at least some of the alt projects is a bit more nuanced in terms of dollar value. I wouldn't be surprised if the 'alt season' isn't a carbon copy of previous cycles. 

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Posted (edited)
4 minutes ago, Xrpdude said:

The stand out for me in Jan 2018 was the US talking about regulating the Crypto market - I don't call that particularly favourable sentiment, maybe that's just me. Yes, there were still people shouting about the Moon and Jupiter or whatever which is just noise - with respect, which is why each of us in turn matter basically nothing in this multi-trillion dollar industry. What I or you think means very little practically i.e. we have zero influence over the market. 

The fact that 80% of alts haven't peaked I agree could be a sign, but I am not confident that all coins will peak - there are more tokens out there now, more noise, more hype, more P&Ds, more exchanges etc etc, so value is spread arguably across more projects. You also don't know for sure whether or not euphoria has peaked, so little point us going there. When people were throwing money at SHIBA INU I'd say there was a certain amount of euphoria, so an argument for both sides re whether we have peaked or not. 

There's no hard and fast rule that says alts must peak - again in the four years that have passed since the last cycle circ supplies of many tokens have increased significantly, therefore maybe the dollar amount of at least some of the alt projects is a bit more nuanced in terms of dollar value. I wouldn't be surprised if the 'alt season' isn't a carbon copy of previous cycles. 

Sure, I agree there are plenty of caveats. 
 

Countertrading big news events that effect sentiment(china ban in 2017, Mt Gox, BCH/BSV fork, Covid) in crypto has been up til now the best way to make the most of money, no argueing in that. But things change so it could be different this time. But my bets are placed on it being a good time to buy once again :) 

Edited by Plikk
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Just now, Plikk said:

Sure, I agree there are plenty of caveats. 
 

Countertrading big news events that effect sentiment(china ban in 2017, Mt Gox, Covid) in crypto has been up til now the best way to make the most of money, no argueing in that. But things change so it could be different this time. But my bets are placed on it being a good time to buy once again :) 

I could absolutely be wrong, no doubt about it. And if the market shoots up again I'll say not only was I completely wrong but I'm also chuffed that those who toughed it out were handsomely rewarded, meanwhile I have to live with a decision that cost me. Equally if there's a settlement it will be great for XRP, this to me is all a gamble and I wish I knew what was going to happen next.  

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2 minutes ago, Xrpdude said:

I could absolutely be wrong, no doubt about it. And if the market shoots up again I'll say not only was I completely wrong but I'm also chuffed that those who toughed it out were handsomely rewarded, meanwhile I have to live with a decision that cost me. Equally if there's a settlement it will be great for XRP, this to me is all a gamble and I wish I knew what was going to happen next.  

Same here about being wrong. I do vaguely remember, when I was fresh in crypto and a novice in about everything. I was one of the people thinking in beginning of 2018 we would still go to the moon, and you disagreed with me. Boy, was I wrong back then and you were spot on. 
 

Hopefully this time around, I draw the longest straw 😁

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Posted (edited)

The sentiment reminds me of late summer 2017 with the China FUD

I think the next and last and most mind blowing part of this bull run will happen later on this summer and I’m waiting for an eventual pump and dump (typical of XRP) in the next few days/weeks post SEC nonsense, to split back to 33% ETH 33% BTC 33% XRP.


We’ll most likely fly by zerps previous ATH but not before BTC shoots up to 6figs and ETH over 5fig

Edited by Benaoao20
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1 hour ago, MQB said:

If you think Elon Musk’s twitters has any effect, you almost know nothing about crypto.

That's right Doge coin completely, spontaneously shot to 40 c hmm yeah, based on tech or something. Right on. 

I'm trying to stay respectful but your post is the most stupid thing I've read all month. Sorry. 

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4 hours ago, Xrpdude said:

which is why each of us in turn matter basically nothing in this multi-trillion dollar industry. What I or you think means very little practically i.e. we have zero influence over the market. 

You’re underestimating us tiny “meaningless” retail investors. Who are the whales harvesting? The retail investors. Who starts these runs? Whales do with their media control and huge wallets which can cause a spike just at the right time when the planted news hit and they see all the information they get from exchanges and other parties who own the information of everyone. 
But who FEEDS into these rallies? THE RETAIL INVESTORS! We are a force to be reckoned with. The only difference between the whales and us (beside their much higher individual power, while ours might be equal but spread out more) is that the whales work together while we work against each other and fight for a piece of the pie. The whales are coordinated and we are not, but don’t for a second think we are insignificant in this or any other market because without US, there would be no market. 

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3 hours ago, Xrpdude said:

That's right Doge coin completely, spontaneously shot to 40 c hmm yeah, based on tech or something. Right on. 

I'm trying to stay respectful but your post is the most stupid thing I've read all month. Sorry. 

Dude you’re still clueless. Just stop it.

 

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3 minutes ago, MQB said:

Dude you’re still clueless. Just stop it.

 

What caused the monumental Doge pump? You're saying that was nothing to do with Elon Musk? Are you being serious, dude check yo-self

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28 minutes ago, Neurotoxin said:

The only difference between the whales and us (beside their much higher individual power, while ours might be equal but spread out more) is that the whales work together while we work against each other and fight for a piece of the pie. 

This whole notion of some secret rich whale society seems a little tinfoil hat'ish. I don't disagree that manipulation is happening. I'm confident people are paid to produce pro or con "news" articles and forum posts, but do you really think they're coordinated. How would that even work? Some secret society discord channel? I'm confident they're as disjoined as us. The difference is all it takes is one investor with a couple of million to invest in media to drive markets in their favor... or, better yet, the popularity to do it for free with a few tweets. Those playing this media game might recognize when others are doing so as well, but we small pocket investors can also see and track these patterns.  I just don't think there is some secret whale society making coordinated moves.

 

Feel free to prove me wrong by pm'ing me the link to where ever they are coordinating these strategies ;)

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Just now, Zerpple said:

This whole notion of some secret rich whale society seems a little tinfoil hat'ish. I don't disagree that manipulation is happening. I'm confident people are paid to produce pro or con "news" articles and forum posts, but do you really think they're coordinated. How would that even work? Some secret society discord channel? I'm confident they're as disjoined as us. The difference is all it takes is one investor with a couple of million to invest in media to drive markets in their favor... or, better yet, the popularity to do it for free with a few tweets. Those playing this media game might recognize when others are doing so as well, but we small pocket investors can also see and track these patterns.  I just don't think there is some secret whale society making coordinated moves.

 

Feel free to prove me wrong by pm'ing me the link to where ever they are coordinating these strategies ;)

Glad you said this and not me, I was writing a reply then I stopped myself because people are going to call me a troll soon (for bringing up the painfully obvious). People are beginning to write some really off-reality stuff on here today.  

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IMO the likes of Elon Musk and big news events do matter for shorter term market movements. They have a certain influence and the market reacts to it. BUT it is absorbed by the market and eventually it will be the cyclical nature of crypto which decides whether the market resumes bullish/bearish continuation. 

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22 hours ago, Neurotoxin said:

I tip my hat off to you, seriously. I’ve always been a risky dude and have always had a higher sense of safety in events where other people would be scared and would tell me all about it afterward and asked me how I kept my composure, but this market still got to me!! I mean, I’ve always been “prepared” for moments like these and I haven’t made any rash decisions and haven’t let emotion get the best of me, but I would be lying if I said I was unfazed! It has been a grueling few weeks and I have felt the sweat run through my body, so for a person like you, “a yoga loving hippie” like you said and have held your composure and not made rash decisions during these times... well, it just goes to show you what type of person you are and what you’re really made of :) Those yoga lessons and relaxing techniques weren’t for nothing! (I wish I could do all that stuff, the meditating part anyway, but my brain just isn’t wired that way, it’s the kind of brain that never turns off and songs can stay annoyingly stuck in for days). 

Ha, don't get me wrong, I still feel the emotions, but yes it's true I've not made any rash decisions. Like I've said, we've got the support of some super cool technical people here. What I admire greatly about @Eric123 is his consistent steady composure. Has he ever wavered or missed a beat? Not that I've seen. 

Meditation is truly a wonderful gift you can give yourself....and truly anyone can do it, it really is just practice, and you only need start with 5 minutes a day. It's taken me years to improve, but I have, and ten minutes a day can give me hours of benefit - I think clearer, am calmer and make better decisions - very good for crypto! :lol: It's very normal for your mind to jump around -( they don't call it 'monkey mind' for no reason), you just keep bringing it back to your focus - be it a candle, your breath, light or whatever. 

On a side note, 6 years ago I also totally gave up alcohol. Has been one of my best decisions ever. I was tired of feeling good for an hour or two after a couple of drinks, then crap for the whole next day because I didn't sleep so well, made poorer decisions, ate bad food etc. I kept a diary for a while about how I felt after drinking, it started to become clear that 2 hours of fun = 2 days of mediocrity. I'm not a mathematician but my maths is good enough to realise it wasn't adding up!

Now I never worry about driving over the limit, never think about alcohol related accidents or illnesses, and of course money that once might have gone on a nice bottle of wine can now go towards dollar cost averaging into crypto! 

Anyway, this will probably fall on deaf ears in this forum - I do laugh about that, but just thought it might be useful to someone...

And now for a return to the charts......hehehe....let's go BTC, let's go XRP, let's go any other coin that any of you are invested in!

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