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Epic Pennant on BTC Chart


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58 minutes ago, BarnBuilder said:

Current price looks like its toward the middle of the band.  The daily RSI is 37, MACD is negative and  re-converging, the Stochiastic is not oversold, AND the price isnt even at the lower range of the BB.  I hope the price goes up, but it wont be because the BB's are the tightest since Dec 20.

I see some upward pressure this week, we might touch 0.99 and BTC 38k, but weekly and daily RSI still have space for one push downwards, wtv it goes 30k and bounce or breaks towards 28 is a good.

Anyway we are in the zone of uncertainty, so I wait what this week bring us.

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2 hours ago, xrp-nuke said:

Well, I guess number of over positive TA brings people to furstration, all that TAs where "just a bit, just wait a bit, just another month, just formed, just triangle, just cross and so on and so forth".

So when TA simply does not tell you anything, or keeps failing, or keeps moving day X of breakout further and further, than this is no way different from gas based on simple intuition or gambling.

There are some other feelings, like intuition, which is mainly ignored by people that have no other feelinh than gas from stomatch 😁😁😁👍

I don't want to dilute the topic much more so will limit myself to this final comment on the subject...

Hopium is just as bad as FUD, especially when based on nothing. Your opinion is equally as valid as mine, except you are constantly posting against TA in a topic specifically created to discuss the TA of bitcoin. I guess I don't understand why you want to be our savior in this topic, why not just start your own "TA sucks" topic and give us your hypothesis in detail so it can be discussed by those so inclined ?

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2 hours ago, BarnBuilder said:

In fact, it was tighter on May 7th when you can see what happened

No it wasn't, Do the Math.  Forget it I'll do it for you.

May 7th top band 59,950 - Bottom Band 49,659  difference 10,291

Today top bollinger band 41,480 bottom band 33,545  difference 7,935

 

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30 minutes ago, Eric123 said:

No it wasn't, Do the Math.  Forget it I'll do it for you.

May 7th top band 59,950 - Bottom Band 49,659  difference 10,291

Today top bollinger band 41,480 bottom band 33,545  difference 7,935

 

The only way to relevantly compare the width of 2 bands with significant average price differences is to measure what % they are from their moving averages.  The trading range when BTC was at 100 is different than now, and will be different when its at 400K.  At 400K  a "tight band" of 7935 will mean the price is only varying +-1% to the extremes.  A tight band at 400K will likely be 10x of 7935.   Zoom out on the history of BTC.  Those BB's are miniscule compared to what they are now.  But, relative to the average price they were just as volatile as they are now.

I'm interested in your use of BB's in this context.  You've definitely made me study harder.  I appreciate that.  The upper bollinger in this case seems unstable.  Its essentially in a free fall from the steep price crash.  BB's are statistical measuring tools that measure standard deviations from the moving average.   It seems to me they would work better in stably trending scenarios.  I'm questioning how the steeply sloped BB is a valid indicator until it settles further.

image.png.b304364f08a282effdb7d49d02393feb.png

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Posted (edited)
2 hours ago, jMusic said:

you are constantly posting against TA in a topic specifically created to discuss the TA of bitcoin

I know that you want be the very smart and close convesation with insult and make your opinion final and only right, but could you please make me a favor and provide prove on where I against TA (unless word against is synonim to disagreement for you, which would be incorrect).

Challenege me!

Edited by xrp-nuke
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This is the first time price action hasnt gone below the trend line and bounced right back.  Its starting to get rejected at the support line.  Its only the 1 minute trend line but its starting to show signs of a break down.  The price has closed below my trend line for 4 hrs now.  Short sellers will be active now and loose hands will be sweaty - hope they get sucked into a bear trap :)

 

image.thumb.png.085e384056f8443ef8c4f8491d02a5e0.png

 

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10 minutes ago, youngdude said:

We all assume that @Xrpdude and @xrp-nuke are the same person right? Not that I have a problem with either or that it matters too much, just checking whether it's common knowledge.

Nope. @Xrpdude has american/canadian english writing skills whereas @xrp-nuke has trouble writing english correctly, so you can tell it’s not his native language. Also, their personalities are completely different. Dude sounds like a very young dude (likely under his 20’s or he might be in his 20’s, but if he is, then it’s likely the lower 20’s). 
Nuke I can’t tell whether he’s older or younger, he uses a lot of emojis like a lot of younger people do, but I can’t really read through him because of the language barrier. That’s just my impression. 

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1 minute ago, Neurotoxin said:

he uses a lot of emojis like a lot of younger people do,

I think emojis can a bit soften not desired news/thoughts, but some grumpy people are too grumpy and for them even emojis have strings attached 🤣🤣🤣

Back in 00s emojis were not a generation identification, they were emojis!

So, from now on "🤣🤣🤣" is a bad thing thanks to me 😁👍 

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11 minutes ago, xrp-nuke said:

I think emojis can a bit soften not desired news/thoughts, but some grumpy people are too grumpy and for them even emojis have strings attached 🤣🤣🤣

Back in 00s emojis were not a generation identification, they were emojis!

So, from now on "🤣🤣🤣" is a bad thing thanks to me 😁👍 

Lol, I learned to just accept it as one of your traits. It used to annoy me in the beginning but now it doesn’t at all and I just take it as part of the nuke package. 

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8 hours ago, youngdude said:

We all assume that @Xrpdude and @xrp-nuke are the same person right? Not that I have a problem with either or that it matters too much, just checking whether it's common knowledge.

Quite remarkable you would come up with a theory like this. Shows how bullish you are that you couldn't believe there are two people with similar views on TA with a bearish outlook. 

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3 hours ago, Xrpdude said:

Quite remarkable you would come up with a theory like this. Shows how bullish you are that you couldn't believe there are two people with similar views on TA with a bearish outlook. 

I am actually very pleased that my english is very native afterall 🤣🤣🤣

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Just now, xrp-nuke said:

I am actually very pleased that my english is very native afterall 🤣🤣🤣

I'm pleased someone thinks I'm in my 20s, hang on... that's not a good thing is it. My written English must be worse than perhaps I thought it was!!  

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