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Epic Pennant on BTC Chart


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On 6/9/2022 at 3:49 PM, Eric123 said:

The price may drop to the bottom of the bolliner bands which is in the 28k range, but I consider that sideways movement.  

So I guess BTC is no longer moving sideways

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The World is on Fire and the Sky is Falling!!!!!  Bitcoin's price broke out and broke down.  Bargains abound for those that have the cash and aren't too depressed.

Is today capitulation?? We'll have to see higher volume first.  

6 13 2022.png

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35 minutes ago, Eric123 said:

The World is on Fire and the Sky is Falling!!!!!  Bitcoin's price broke out and broke down.  Bargains abound for those that have the cash and aren't too depressed.

Is today capitulation?? We'll have to see higher volume first.  

6 13 2022.png

It will take 1 day or 2 for people to read this. :D

https://www.ft.com/content/25ac1667-9f50-4f16-b553-448ea4582613

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On 5/26/2022 at 5:35 PM, Ripley said:

As an update, I sold another < 0.5% of my XRP holdings. If it falls further - I think 0.27 is a possibility - I might buy back in. If it pumps from here, I still have the vast majority of my XRP intact. If it dumps to < 0.2, I might use that opportunity to get back my original stack.

I'm keen to see how (if) S-Assets has any impact on XRP prices.

I copied you on this and the move is close to conclusion.. I partially bought back in today but waiting to see if a further dip happens. Maybe I shouldn't be greedy and just buy in now. Decided to rebuy a 50/50 mix of ada/xrp, just because it seems ADA tends to rebound more violently than xrp.  Have you bought back in yet?  

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1 hour ago, RandyMarsh said:

I copied you on this and the move is close to conclusion.. I partially bought back in today but waiting to see if a further dip happens. Maybe I shouldn't be greedy and just buy in now. Decided to rebuy a 50/50 mix of ada/xrp, just because it seems ADA tends to rebound more violently than xrp.  Have you bought back in yet?  

Not yet. We didn't quite go to 0.27/0.28 that I was looking for. XRP just stopped shy of that at around 0.31, I think.

623204376_XRPUSD_Barchart_Interactive_Chart_06_13_2022.thumb.png.bb7fe0386c32755fe105b1d7e0f900f8.png

But more importantly, BTC punched through the 25k line. I think it's possible that we will go all the way down to $18.5K/$19K. Usually XRP follows BTC down, so I'm thinking we might see 0.2-0.16 for XRP.

That said, I personally think it was a good price to grab some XRP though you should prepare to take some quick profits and prep for another dump. I'm looking to see what tomorrow's FOMC meeting comes up with. Market's expecting 50bps and if it's that, we might see a relief rally. If the committee changes its mind and decides to be more aggressive, we might fall down to the next level.

1837188514_BTCUSD_Barchart_Interactive_Chart_06_13_2022.thumb.png.7ae46fcd6cba9f4fcc3529b91cf1b349.png
 

Edit: Looks like the rate hike might come on Wednesday. Not Tuesday. 

Edited by Ripley
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12 minutes ago, Ripley said:

Not yet. We didn't quite go to 0.27/0.28 that I was looking for. XRP just stopped shy of that at around 0.31, I think.

XRPBTC saved this time, cant say it is good, it still aims 1000 sats or lower, the levels it stopped in december, add 17k BTC as low.

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6 hours ago, Ripley said:

Not yet. We didn't quite go to 0.27/0.28 that I was looking for. XRP just stopped shy of that at around 0.31, I think.

623204376_XRPUSD_Barchart_Interactive_Chart_06_13_2022.thumb.png.bb7fe0386c32755fe105b1d7e0f900f8.png

But more importantly, BTC punched through the 25k line. I think it's possible that we will go all the way down to $18.5K/$19K. Usually XRP follows BTC down, so I'm thinking we might see 0.2-0.16 for XRP.

That said, I personally think it was a good price to grab some XRP though you should prepare to take some quick profits and prep for another dump. I'm looking to see what tomorrow's FOMC meeting comes up with. Market's expecting 50bps and if it's that, we might see a relief rally. If the committee changes its mind and decides to be more aggressive, we might fall down to the next level.

1837188514_BTCUSD_Barchart_Interactive_Chart_06_13_2022.thumb.png.7ae46fcd6cba9f4fcc3529b91cf1b349.png
 

Edit: Looks like the rate hike might come on Wednesday. Not Tuesday. 

Thanks for convincing me to hold on longer, 19k looks to be right around the corner. This is happening fast!

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1 hour ago, RandyMarsh said:

Thanks for convincing me to hold on longer, 19k looks to be right around the corner. This is happening fast!

BTC breaking down though previous cycle ATH is unprecedented. To me, it would invalidate the whole ever increasing cycle theory, and also it would likely trigger a liquidation cascade of biblical proportions - a true collapse. 

There's a first time for everything. Now it is quite possibly the worst time for BTC to fall so hard, as the aureola of contrariant investment/inflation hedge/store of value will vanish completely.

The question is, if this happens will it recover? Possibly, but it will be an uphill battle to win back investor confidence. 

Edited by QuestionMark
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1 hour ago, Xrpdude said:

Can you remind us what you're doing here? are you a charting guru? do you get it right sometimes? 

Well, the cycle been moved to 2024 and drop to 70-90% accross the assets is still ignored, bands are still tightening and every dip somehow cash is appearing to buy more.

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4 hours ago, mNk said:

Nothing is holding BTC at the moment till 19k range.

The drop to this range is likely to come.

And once we hit that range you feel there will be a little relief rally shortly after ?

Edited by RandyMarsh
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