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Molten

Charting the course of XRP

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Also, we haven't done one of these in a while... its been a boring market, so might as well have something to watch.  Big triangle on the hourly chart, set to break on December 4.   Given the bullish cross on the daily MACD and the fact that we are so near the bottom trend line, I vote up on the break.  Absurd as it may sound, the break could actually be as high as 9 cents (up to $0.31ish) if you take the trend all the way back as I have it drawn here. 

Crazy talk, I know. 

nWKrnoBm

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3 minutes ago, tony71 said:

If my chart analysis is correct 2020 is going to be boring too.  Mid 2021 we will see the start of the bull run. 

omg plz no

I don't want a new ATH, but such a mini bullrun like in September 2018, when xrp shot from 0.27 to 0.75, that would be nice.

my trade xrp are bumming around. I fall asleep right away.

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11 minutes ago, MQB said:

Vet retracing. Could go back to 80-85 range?

Typical retracement is around 50% of the current move up, so whatever that is should be a good target.  No access to charts right now or id post it myself.

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4 hours ago, tony71 said:

If my chart analysis is correct 2020 is going to be boring too.  Mid 2021 we will see the start of the bull run. 

A year long bull run bitcoin style moving deep into 2022 or xrp style green candle pumps in 2021?  Need to know what year to buy the Eurorail Pass.

Edited by ManBearPig

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I've done something I didn't expect to ever do... sold 1/3 of my stack. Just as a de-risking measure, if price goes up it's good for the remaining 2/3 stack, if it drops I can buy back in cheaper. 

Glass is have full lol.

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1 hour ago, baobeiiiii said:

I've done something I didn't expect to ever do... sold 1/3 of my stack. Just as a de-risking measure, if price goes up it's good for the remaining 2/3 stack, if it drops I can buy back in cheaper. 

Glass is half full lol.

I did the same thing, although I cut much more ruthlessly. But you're a lot younger than I am.      :)

I never tell people to sell XRP,  but I sold a lot of mine, and I took a loss. I just have no idea when it will move, and the move I was waiting for didn't happen. I intend to buy it back, and I can do that in minutes if something changes. In the meantime I hope to make some gains on coins that are moving now.. The overall crypto market it is still trending poorly, (short term)  but maybe we can find a few winners.

Nothing wrong with hodling XRP forever, but I don't feel I can afford to right now. 

 

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22 minutes ago, dr_ed said:

I did the same thing, although I cut much more ruthlessly. But you're a lot younger than I am.      :)

I never tell people to sell XRP,  but I sold a lot of mine, and I took a loss. I just have no idea when it will move, and the move I was waiting for didn't happen. I intend to buy it back, and I can do that in minutes if something changes. In the meantime I hope to make some gains on coins that are moving now.. The overall crypto market it is still trending poorly, (short term)  but maybe we can find a few winners.

Nothing wrong with hodling XRP forever, but I don't feel I can afford to right now. 

 

Aren't we basically still just following bitcoin? sure there are a few coins that are pumping...but sounds like a dangerous game to me.  What coins do you suggest looking at for gains in the short term?

 

Thanks

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Another touch on the bottom trend line and it looks to be bouncing off.  This further validates the triangle pattern in my eyes.  One thing I will note: market forces can be described in primary, secondary, and sometimes tertiary trends.  The primary trend (since early 2018) is obviously down.  We were briefly in a secondary rising market (late September to early November), but now the secondary market is also bearish (since early November).  The tertiary trend is rising since about November 24. 

But the top of that triangle is a longer descending line (the secondary pattern) contained within the primary bear market.  Therefore, there is overwhelming bearish pressure and the top trend line of the triangle is much, much, much stronger than the bottom bullish line from the tertiary trend. 

If we are being completely honest, the likelihood is that the triangle should break down, and perhaps severely.  HOWEVER, we are also in a macro pattern of the descending broadening wedge and we are very near to the bottom trend line of that pattern.  So, if that latter pattern is real, then the break should be up. 

In summary, the triangle will break up or it will break down lol :clapping: We will know soon enough. 

9RHFFLQz

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38 minutes ago, dr_ed said:

I intend to buy it back, and I can do that in minutes if something changes.

Do you have some kind of alert system in place? Of course there's always sleeping... but I think there's apps for phone that can be set to make an alarm if price moves by what you've set to trigger it.

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