Jump to content
Molten

Charting the course of XRP

Recommended Posts

Taking a look at the ongoing falling wedge pattern in BTC.  If the price holds steady at current levels, it should test the upper bound in mid-January, around 1/17.  If the pattern holds, then BTC should drop further or start its ascent out of the long term wedge.  Other than that, not much going worthy of commentary right now.

Happy New Year to everyone!

ATfyNNac

Share this post


Link to post
Share on other sites
9 hours ago, Molten said:

Taking a look at the ongoing falling wedge pattern in BTC.  If the price holds steady at current levels, it should test the upper bound in mid-January, around 1/17.  If the pattern holds, then BTC should drop further or start its ascent out of the long term wedge.  Other than that, not much going worthy of commentary right now.

Happy New Year to everyone!

ATfyNNac

Lol so either up or down. Thanks. 😉

Share this post


Link to post
Share on other sites
33 minutes ago, baobeiiiii said:

Don't hate on me. I think it's quite clear BTC is going down to 3k. People smarter than me can figure out the relative value for XRP at that price level. 

 

Certainly could. That would definitely invalidate the wedge.  What are you basing that prediction on?

Share this post


Link to post
Share on other sites

Looked up something on the BTC chart just out of curiosity.  Looked at the last "ATH" in December 2013 (~$1100) and I wanted to see how long it took until BTC touched that ATH again.

Answer: 4 years.  

So, if that is how long the last cycle took to reclaim an ATH after a peak, I was curious to see where the price of BTC was 25 months after that peak (where we are currently after the December 2017 ATH).

Answer:  ~$350.  So, about one third of the ATH peak price.

Where are we today 25 months after the latest ATH?   About one third of the peak price.  Actually, a little higher, but only by a few percentage points.

So, for all of the doom and gloom, BTC is behaving remarkably like it did in the last cycle that eventually saw a new ATH at multiples of the previous.  Not to say that history will necessarily repeat itself, but I found it reassuring.  FWIW.

Share this post


Link to post
Share on other sites
2 hours ago, Molten said:

Looked up something on the BTC chart just out of curiosity.  Looked at the last "ATH" in December 2013 (~$1100) and I wanted to see how long it took until BTC touched that ATH again.

Answer: 4 years.  

So, if that is how long the last cycle took to reclaim an ATH after a peak, I was curious to see where the price of BTC was 25 months after that peak (where we are currently after the December 2017 ATH).

Answer:  ~$350.  So, about one third of the ATH peak price.

Where are we today 25 months after the latest ATH?   About one third of the peak price.  Actually, a little higher, but only by a few percentage points.

So, for all of the doom and gloom, BTC is behaving remarkably like it did in the last cycle that eventually saw a new ATH at multiples of the previous.  Not to say that history will necessarily repeat itself, but I found it reassuring.  FWIW.

Excellent point. I was in BTC back in those days and trust me those 4 bear years seemed like eternity. Many people began to think BTC was just a one-hit wonder that would never see $1,000 again. After most of the get-rich-quick speculators lost patience, the strong hands eventually realized returns that no other asset class could match.  I believe history will repeat itself.

Share this post


Link to post
Share on other sites
Posted (edited)
On 1/3/2020 at 1:58 AM, Molten said:

Walked right into that one.  Yes, up or down, but the point was that I don't think it'll just keep grinding sideways past that date.

Smartass.  :lol:

That makes no sense. You are saying it will grind sideways yet your TA shows a wedge all the way down to 4000, a drop of nearly 50%. That is not 'grinding sideways.' 

Edit: Ah OK, I get it know, You think it will not carry on going sideways as per the wedge in mid-January. 

Edited by XRP_to_20dollars

Share this post


Link to post
Share on other sites
8 hours ago, XRP_to_20dollars said:

That makes no sense. You are saying it will grind sideways yet your TA shows a wedge all the way down to 4000, a drop of nearly 50%. That is not 'grinding sideways.' 

Edit: Ah OK, I get it know, You think it will not carry on going sideways as per the wedge in mid-January. 

Correct. Also the pattern usually breaks before the apex, so i dont necessarily expect it to get all the way down to 4000.  Could break out anytime now.

Share this post


Link to post
Share on other sites

 

I don't usually read these threads because people who do these TA and charts in crypto are the biggest idiots but christ like I've said before the problem with crytpo is people cheerleading investors off a cliff...

   

On 8/8/2018 at 1:02 PM, fatlever said:

Having a sense of reality and critical thinking is crucial to investing.  People like you will cheer-lead investors right off a cliff.  People like you have been saying it's a dip and it's a buying opportunity since $3.00, $2.00, $1.00, $0.80, $0.60, $0.40, etc.  What's the point of people like you even posting?  You always think it's going up, it's a buying opportunity and we're going to be rich.  

 

...and the most dangerous are guys like this guy providing analysis leading people off a cliff with some bullshit charts showing an excellent price point and also rekt themselves.  The last couple years should be humbling and we had one idiot after another pointing to charts and TA but they continue to espouse this meaningless scratch pads like they have a clue.  Eventually these gimmicks may be right at some point and they'll point to it as a reference of their expertise.  

 

On 8/14/2019 at 4:20 PM, Molten said:

I am a bit of a cautious fellow, so I'm going to watch a little bit more, understanding that I may be missing an opportunity to add to my position at an excellent price point.

m51WegBY

 

On 8/14/2019 at 5:16 PM, Molten said:

Geez, that chart I just posted made me go and buy more XRP... there's nothing I savor quite more in life than being a contrarian.  Here's hoping those short sellers get REKT.

 

 

 

Share this post


Link to post
Share on other sites

×
×
  • Create New...