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Charting the course of XRP


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How's that song go... that dont impressa me much.

Clearly bot/algo driven rise, volume nothing special. To call a reversal here is premature. Give me a solid month of gains with increasing volume. Trend is still down, new money isnt coming in.. possible bulltrap. But if you are a trader, sure timing it perfect got you a 8% gift. Not impressive.

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I was participating undercover :).  The trolls became too overwhelming while XRP was in the dumps, I figure its safe to come out again.

There are actually several lawyers in the crypto space who have analysed the case extremely closely explaining how the case will likely play out. Given that these lawyers are either BTC or ETH maxis a

These threads are being derailed by childish banter, could you please keep things on topic and move your chit chat elsewhere. The forum is becoming less interesting for many of us.

24 minutes ago, baobeiiiii said:

How's that song go... that dont impressa me much.

Clearly bot/algo driven rise, volume nothing special. To call a reversal here is premature. Give me a solid month of gains with increasing volume. Trend is still down, new money isnt coming in.. possible bulltrap. But if you are a trader, sure timing it perfect got you a 8% gift. Not impressive.

 Certainly not a high volume breakout, but BTC is now above the descending trend line, so the short term reversal is technically confirmed. We are in an uptrend until we get another swing high. 

Not sure it was algo driven. Maybe, but it wasn't a whale "one and done" pump to try to set up a dump. Looked organic to me.

It could be a fake-out. More volume needs to come in for it to keep going and not stall out.

Almost a 10% up day for my hodl, although XTZ is still has not turned up. It'll be fine probably. It never really looked bad technically at any point. VET up almost 15% by CMC....but maybe not out of the weeds yet. But better than a poke in the eye with sharp stick.

I think you have a mild case of bearish confirmation bias, but the jury is still out on that.   You could be right.      :)

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The falling wedge pattern is still very much in play.  BTC tested the support range and bounced nicely out of it, now having regained the support of the 0.618 fib.  

Also, look at the circled areas... similar no? They both had bullish divergences on the RSI too.  Last one resulted in a big jump, let's see what this one does.

DX3vqi3f

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XRPUSD, the broadening wedge pattern looks good.  Bounced off of the lower trend line nicely.  Last time the RSI dipped as low as it did yesterday was August of 2018.  Within a month, the price had tripled up to $0.75.  Will be interesting to see how it behaves this time.  

7jDafq20

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37 minutes ago, dr_ed said:

 I think you have a mild case of bearish confirmation bias, but the jury is still out on that.   You could be right.      :)

Take no offence, but I would argue that you might have the inverse of that ;) There's nothing organic about that pump. It came out of nowhere, amidst the worst sentiment in memory in the crypto space, and all alts tagged along. My definition of organic would be positive sentiment, lots of new money coming in, increasing volume. Not a random upswing.

Well, we are down again. Back below .19. I want the market to turn up so I can make back what I've lost. Although I'm not as in the red as a lot of people here. I need to set up some alarm for price movement. If as @Molten's post posits, it does indeed go up to .75, I want on that train!

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If history is your friend, it might not be a bad idea to buy some BTC now my husband said yesterday.  

When it falls, BTC tends to fall alot lessor than rest of the coin, when it raises, it goes a lot more than the rest also. Among these raising and falling, I have noticed XRP is falling way way more than BTC and raising way way less when BTC is raising. 

Maybe he is right, BTC is overall a better investment at the moment.

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16 hours ago, dr_ed said:

I think I'll just make a laundry list. No time for a polished post today. First the chart stuff.

 

1. Alts moon one at a time, but they fall together, as a result of Bitcoin dominance.

2. Mistrust Alt/USD charts and trust Alt/BTC charts, as a rule (unless the volume is high for alt/USD).

3. Bots and algos dominate the crypto market, especially in times of low volume, and they screw up our TA.

4. Bots have long memories for pivots. Bots understand Fib levels.

5. Bots often leave long wicks, which are important to consider. Shooting star candles are usually a bad sign, bots or no bots.

6.Bots are less dominant when retail buyers come out in force. So they dominate more in these down phases when interest is low in Bitcoin.

7. Drawing conclusions about near term moves from long term charts is risky business in crypto.

 

I think that is useful. Will you start a new thread so as it does not get lost in the middle of this one? 

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7 hours ago, baobeiiiii said:

Take no offence, but I would argue that you might have the inverse of that ;) There's nothing organic about that pump. It came out of nowhere, amidst the worst sentiment in memory in the crypto space, and all alts tagged along. My definition of organic would be positive sentiment, lots of new money coming in, increasing volume. Not a random upswing.

Well, we are down again. Back below .19. I want the market to turn up so I can make back what I've lost. Although I'm not as in the red as a lot of people here. I need to set up some alarm for price movement. If as @Molten's post posits, it does indeed go up to .75, I want on that train!

None of this movement is organic as far as I’m concerned. Manipulators are taking advantage of low volume to jerk the market around.

I think the idea of someone trying to push the price down is absurd but it seems that’s what’s happening.

You have random squeezes that always get followed by dumps.

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18 hours ago, dr_ed said:

I think I'll just make a laundry list. No time for a polished post today. First the chart stuff.

 

1. Alts moon one at a time, but they fall together, as a result of Bitcoin dominance.

2. Mistrust Alt/USD charts and trust Alt/BTC charts, as a rule (unless the volume is high for alt/USD).

3. Bots and algos dominate the crypto market, especially in times of low volume, and they screw up our TA.

4. Bots have long memories for pivots. Bots understand Fib levels.

5. Bots often leave long wicks, which are important to consider. Shooting star candles are usually a bad sign, bots or no bots.

6.Bots are less dominant when retail buyers

7. Drawing conclusions about near term moves from long term charts is risky business in crypto.

 

8. Do some research, buy a spread of BTC and Alts. Forget about them completely, until the National news papers start raving about crypto gains. Then take a peek and decide whether to sell or not.

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4 hours ago, ripplewaytogo said:

If history is your friend, it might not be a bad idea to buy some BTC now my husband said yesterday.  

When it falls, BTC tends to fall alot lessor than rest of the coin, when it raises, it goes a lot more than the rest also. Among these raising and falling, I have noticed XRP is falling way way more than BTC and raising way way less when BTC is raising. 

Maybe he is right, BTC is overall a better investment at the moment.

If you look at any time period besides 2017, bitcoin has been the better performing investment and is still looked at as the digital alternate of gold in economic/political conditions that are foreshadowing a need for store of value. With mathematical programmed scarcity making its next move right around the corner, and a two year bear market ensuing, I can’t see how anyone wouldn’t want at least some BTC in their blockfolio.

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2 hours ago, ManBearPig said:

I can’t see how anyone wouldn’t want at least some BTC in their blockfolio

On environmental grounds alone I could not hold BTC (or any POW coin). It is a shame on humanity that it is allowed to continue to exist at all. The Chinese government should make it illegal to mine any coin (or at least use more than a government/WTO/UN approved amount of power to do so) and western governments should follow suit.

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25 minutes ago, jbjnr said:

On environmental grounds alone I could not hold BTC (or any POW coin). It is a shame on humanity that it is allowed to continue to exist at all. The Chinese government should make it illegal to mine any coin (or at least use more than a government/WTO/UN approved amount of power to do so) and western governments should follow suit.

I've often thought this is a possibility, considering the focus on the environment from the G20. You may not be able to "ban" bit coin, but you can ban large scale bitcoin mining.

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6 hours ago, WarChest said:

8. Do some research, buy a spread of BTC and Alts. Forget about them completely, until the National news papers start raving about crypto gains. Then take a peek and decide whether to sell or not.

Not a bad plan. The downside is you could see your investment shrink by 75% or more. I like that you say you need to spread out the risk between BTC and a portfolio of alts. Too many hodlrs go all in on one coin.

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5 minutes ago, googie said:

I've often thought this is a possibility, considering the focus on the environment from the G20. You may not be able to "ban" bit coin, but you can ban large scale bitcoin mining.

The power issue is huge and important. But I see no sign that it will hurt BTC much in the very short term. Each of us has to decide if our personal ethics will allow us to buy mined coins. In the fullness of time I expect they will fork to a different consensus mechanism or cease to exist.

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