Jump to content

Epic Pennant on BTC Chart


Recommended Posts

  • Replies 10.6k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

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

46 minutes ago, JASCoder said:

From what I'm hearing, many of the "millionaire's wallets" are showing a net accumulation now at current levels. Let's see how this metrics plays out for firming up the current floors resistance.

I was hearing it all way down to 29k for a month already all on chain analyst say that whales accumulate. I really think that there is some gap in data that allows a bit more positive outlook than really is.

Link to post
Share on other sites

I'd say that was capitulation selling. I added.  My original Wycoff broke down, however, I've seen it redrawn a bit better and it lines up now and makes more sense with the spring phase C.  

I also agree that the oscillations seem to be getting wider which bodes better for a longer upswing.  

The GBTC unlock periods are on us, however.  Capitulation means essentially all sellers are gone and the market can move off the bottom freely.  Those GBTC customers are ones likely to buy large amounts so we'll have to see how they play their cards.  A rally for them to sell into would be convenient for them wouldnt it?

 

Link to post
Share on other sites
17 minutes ago, xrp-nuke said:

I was hearing it all way down to 29k for a month already all on chain analyst say that whales accumulate. I really think that there is some gap in data that allows a bit more positive outlook than really is.

What is so positive about whales accumulating?  History shows they do this in a bear market that conceivably would have just gotten started.  Equating whales buying BTC at a 60% discount with a bull market is wrong.  Somebody is buying here - duh.  If not, we'd have been at 10K a month ago.  This isnt news.

A BGC isnt going to be enough to reverse the downward spiral.  It might slow it down, but we need a lot more buying to reverse this mess - aka significant follow through with volume.   We need to see better volume than the fading volume we're seeing immediately after the rebound.  If the volume doesnt pick up then I dont see how a bull run will get any traction.  Volume has been the truth teller for quite some time now.

 

image.png.d9be3028fc9828242174148559949daa.png

Link to post
Share on other sites
23 minutes ago, BarnBuilder said:

What is so positive about whales accumulating?  History shows they do this in a bear market that conceivably would have just gotten started.  Equating whales buying BTC at a 60% discount with a bull market is wrong.  Somebody is buying here - duh.  If not, we'd have been at 10K a month ago.  This isnt news.

I did not say that this is positive, I said that on-chain analyst put it as positive trend which I sceptical about as we see price sinking, volumes sinking.

GBTC unlocking event speculators think will bring vilotality, which durection shall see. First starts tomorrow.

For now I expect at least bull trap, which means we can even get to 50k, at most I would say repeat of 2013, or on avg something hybrid, where we hit some low new ATH lets say 80k and going for winter season.

The above are too much positive scenarios.

Now I see that XRPBTC is badly sinking and hope it stops at 1500 - 1600 sats, otherwise welcome to 1k 🥺

Link to post
Share on other sites
12 hours ago, Xrpdude said:

If you listened to Eric / others over the last few weeks you're sitting there HODLING while the market bleeds out, every day it's "BIG GREEN CANDLE" - when he should have been saying "BEWARE OF THE INCOMING S*** SHOW!!" I was saying the latter - so right now who would you have been better off listening to?

I don’t mean to stir the pot but that’s exactly why I asked Eric once why he would still be a buyer of XRP if he “had any spare cash” at the moment when we were literally above a dollar. The reason I asked this was because I saw no point in buying at all during a bullmarket when the price has already taken off significantly. If I loaded my bags during the bear market at ~25 (which I did), why would I want to add more zerps at over a dollar? That would only raise my DCA and expose me to significantly more risk. It just didn’t make any sense to me. Of course he ignored the question altogether and just continued to post update of charts, so I didn’t press him further cuz I’m sure I would have gotten an annoyed response and the ignore button (might get it now lol). 
 

I just don’t see the point. Right now the market is in the absolute gutter and it could get worse, but since I bought during the bear market, (and added to my bags in moments where we were in the bullmarket but XRP was still cheap), then I’m totally fine. If I had continued buying when the price was already over a dollar, I would be deeply in the red right now. 
 

With all that said, I’m not convinced we’re in a bear market just yet, but I don’t have to be and I’m not in financial danger. I can just let this ride out and if we go into a bear market well, so be it. If, on the other hand we moon, then I’m smashing that sell button with the swiftness and I’ll have a massive grin on my face for god knows how long. Had I purchased at over a dollar I would be in disarray right now. That’s why I’m always skeptical of ANYBODY who is SURE of ANYTHING. Nobody truly knows if we’re going a long way up or a long way down, it’s all a semi-calculated gamble with a lot of factors that are outside of our control. An extremely volatile market that’s manipulated the hell out of. High risk, high reward. If you don’t have the guts to play the game then it’s best not to. When the market’s in the gutter, everybody gets really toxic and that’s why I’ve been a lot less active in the forum lately and will continue to be most likely. Hope everybody is doing well, though. Hopefully we bounce and recover from this gutter in the near future and we can go back to patting everyone in the back and cracking jokes. 

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.