I picked XRP`s chart since obviously it was the VIP of the end of the year 2017, with spectacular gains in short period of time. This is my wish for all of you for 2018, have a great year, enjoy trading while enriching your knowledge about this fascinating new class of assets and why not, enriching your wallets as well. Trade responsibly, don`t be greedy, don`t be fearful ... adapt to the markets and play!
Thank you all for looking at my ideas, commenting on them, liking them (or not :) ) and following me. It is a great honor and responsibility at the same time to have so many views and followers in just a month of posting.
Happy New Year !
PS: I am still bearish on XRP, with the levels to watch being $1.60 and $1.08 (short term - a few days)
評論
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$1.6 in sight again, after on the 11th hit the $1.61 just to bounce back up. I was too early by a week or so in the initial post ...
Now ... I know this update will bring a ton of "interesting" comments to say it diplomatically however this is what the chart tells me: - on the daily we have a bear pennant that is about to breakout to the downside (look at the volume at the tip of it as compared to the body) - if we are to apply the classic targeting technique of extension, we are looking at XRP going back to $0.25, from where it all started. My XRP price predictions before were early calls and they missed some big up spikes, however after just a little while after they proved correct. So, this is just a fair warning to all XRP traders to do due diligence and mind this possible scenario coming very soon Good luck all !
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Even though it might not seem much of a breakout, this might be the beginning of the journey back to the very low levels before the P&D.
As a side note ... mind that the founder of Mt. Gox, then-founder of Ripple and now-founder of Stellar ... has a new toy: XLM. Just look at the charts, any familiar sights? ;)
This morning is proving to be exactly why you were right to post this chart/comment on XRP. You potentially saved a lot of people some heartache if they listened to you and it's far from done yet. The only real question is does it stop at your 25c or our 30c LOL Great call you made and thanks for posting it and taking some heat im sure.
Haceru
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@london55555, if I am to be exact in applying the "classic" extension technique for the targets of a triangle breakdown, the precise target would be $1.31839-($2.25-$0.87)= -0.06161 ... LOL (negative result). Obviously this is impossible ... Anyway, whatever the stop will be, we have to pass a few obstacles on the way down, first of all being the $0.89-$0.87 level which held so many times before (0.786 Fib level)
NewYork888
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@Haceru, 87c is exactly where we said if it doesn't hold you're looking at 30c we'll see!
Haceru
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@london55555, if I am to be "conservative" and work with the closing of the candles instead of the high / lows, the target would be $0.048 ... LOL again
NewYork888
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A bit off topic but you might find this of interest. We ran the BTC charts going back to where it hit about $1000 along side the S@P chart and the BTC becomes a leading indicator by about eight weeks which would be calling for an S@P collapse about the end of Feb or beginning of March. We prefer March ( around the 9th as a top ) only because we thing the market may "rhyme" re March 2000 top March 2009 S@P low etc etc ect We'll see if this plays out.
Haceru
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@london55555, thank you for this ... actually I was thinking about the same lines, that it would be interesting to see a chart correlation between BTC / cryptos and the other financial instruments like stocks and also against the total monetary supply. Not that I am an expert in stock market, but I was expecting the crash about two years ago, in cycles of 7, not nine. And it didn`t happen ... well, it kind of did but very small dip and then resumed to reach another ATH; not the kind of correction I was expecting. Now, there is something that keeps coming to my mind over and over again, namely the line Satoshi Nakamoto left in the genesis block of the BTC: "Chancellor on brink of second bailout for banks". Why would he / they use this particular line from that particular newspaper as a time stamp? There are much better alternatives out there so it seems a little childish to take this as a reason. However, considering that the housing bubble just popped a few years back and governments were quick to cover the losses by printing more money and obviously we couldn`t go back to another stock bubble or such ... here comes the "wonder kid", a new class of assets, out of thin air. Maybe I am wrong ... but who knows :)
NewYork888
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@Haceru, Although it's taking a while to play out I think the real "weapons of financial mass destruction" are the US Treasury notes in everyones portfolio at no virtually no interest because some idiot financial planner has told them that they should own them for " safety" when interest rates really rise these people are going to lose half their money in these instruments and on a massive scale.
Haceru
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@london55555, well, we`ve seen just a few days ago how easily is to hold the government hostage, so .... yes, there are a lot of potential triggers for the entire system which IMHO is propped on the very edge of tumbling down to oblivion; thus I believe that this crypto market started as an experimental tool for prolonging the imminent crash. Lets see ... what I can say for sure is that we are truly living very interesting times :)