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Molten

Charting the course of XRP

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7 minutes ago, AlejoMoreno said:

That's why you have to invest in SOMETHING, be it XRP, or some other investment vehicle. Holding cash is bad and is intended to be bad by design.

One reason for inflation is to discouarge hoarding of cash and encourage investing in assets.

A deflationary currency discourages spending and you could argue this is not desired for a currency being used a the general method of tender.

I have no problem with a slight bias towards inflation. However, when it becomes excessive it becomes a problem for all of us. There is no where to hide when anything else you can invest in is grossly over inflated in terms of price. I would favor a more balanced and responsible approach to fiscal policy otherwise the reversion to mean will be another financial apocalypse worse than 2008.

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1 hour ago, Molten said:

XRP is oversold on the daily chart, Bollingers and RSI... if we are not starting some type of terrible declining market, then there should be a bounce coming in the next few days... any day now.... :angry:

wPNAwJpy

Do you have any insight into what that might have been yesterday when the market lifted and then fell? Was someone testing resistance or something? 
 

I still don’t understand what this actually is when there’s a huge green candle that basically deflated right away.

6AFF87F9-0453-479E-B19E-E0BD637E78C3.jpeg

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4 minutes ago, AlejoMoreno said:

Do you have any insight into what that might have been yesterday when the market lifted and then fell? Was someone testing resistance or something? 
 

I still don’t understand what this actually is when there’s a huge green candle that basically deflated right away.

6AFF87F9-0453-479E-B19E-E0BD637E78C3.jpeg

As with most asymmetric events in crypto, I'm tempted to just shrug and attribute it to whale activity, to whatever end they might have had planned.  The wicks are usually informative as new resistance points, so something to keep in mind if BTC should push back up to the 9100 range.  Beyond that, I have no clue.

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7 minutes ago, AlejoMoreno said:

Do you have any insight into what that might have been yesterday when the market lifted and then fell?

They were just testing the Bitcoin Store of Value hypothesis.  They put money in and it evaporated as usual.  :) 

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6 hours ago, AlejoMoreno said:

Do you have any insight into what that might have been yesterday when the market lifted and then fell? Was someone testing resistance or something? 
 

I still don’t understand what this actually is when there’s a huge green candle that basically deflated right away.

6AFF87F9-0453-479E-B19E-E0BD637E78C3.jpeg

If you need sth to explain in technical term, maybe this may help based on my limited knowledge.. ( I'm not a chartist, a HOLDER, by default, I'm a bull and don't trust 100% on T.A actually )

image.thumb.png.1a53ced68cd5adc38fca569c6223601d.png

 

We have an ichi cloud which act like a shield for the bear or resistance. The thicker the cloud is, the harder to penetrate. 

Also, we have a thick border at 9.6k (purple line) which was our old friend, now become a solid enemy.

The wick at 10k is an attempt to break through the cloud near it's weakest point, maybe the purpose is to turn it to a support or at least swim inside it. However, it failed. And somehow, 9.6k was at the cloud entrance on that day, and BTC closed below it. 

Then next consecutive days, BTC tried hard to go into that giant red swimming pool, all rejected. Maybe the pool ticket was expensive I guess..

Luckily, we have new friend which was our enemy. That's the old down trend line in yellow. Also, another friend called EMA200 in blue is helping us hardly. 

Yesterday wick is another attempt to swim and again rejected hardly.. 

The battle for the swim ticket is on-going :dance4: :dance4:  .. It may not last long.. 

 

Edited by plinh

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On 11/10/2019 at 11:15 PM, Molten said:

The weekly XRPBTC chart is just screaming for a big green candle.  Cup and handle pattern still intact, but will need to have a biggish price advance, preferably this week, to keep the pattern in play.  The near term target is around 4500 sats. 

MACD bullish but starting to wane.  Still oversold on the RSI.  If XRP shoots up to the $0.40's like some are expecting, that would get us there.

IPqk7t3Q

Given the activity since the above chart was posted, is this chart still valid?

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51 minutes ago, WarChest said:

Given the activity since the above chart was posted, is this chart still valid?

What action?  I don't think XRPBTC had changed much at all since I posted that.  Anyway, it's a weekly chart and so taking more of a macro picture.  Little daily fluctuations dont show up as prominently on these charts, which is why I favor them.

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1 hour ago, Molten said:

What action?  I don't think XRPBTC had changed much at all since I posted that.  Anyway, it's a weekly chart and so taking more of a macro picture.  Little daily fluctuations dont show up as prominently on these charts, which is why I favor them.

Sorry, I wondered if the spike up then further down vs USD would effect the chart. 

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3 hours ago, Chocobo said:

Charts looking really bad in my opinion..

Will Bitcoin drag everything down?
 

Ouch.  No me gusta.

Will have to take refuge in the Holoport shipping news for today.

 

 

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