MagicPoopCannon

The Flight to Tokyo is on Fire! Everybody Run! RIPPLE (XRP)

BITFINEX:XRPUSD   Ripple幣 / 美元
Hi friends! Congratulations to my twitter followers who voted XRP, and won this weeks #CoinVote! Let's get right to it. Looking at the four hour chart, you can see that XRP's flight to Tokyo has caught on fire, and things aren't looking good. Passengers are have started screaming, but the flight attendants are telling them to remain calm. If you recall from yesterday's XRP post, titled "Quiet Ripple Packs Bags — First Class to Tokyo," I said that "if the 50 EMA is lost, and confirmed as resistance, that would be a warning signal of more downside. For now, let's sit back, and see if the MACD produces a bullish momentum bounce off of the rising green trendline" If you look closely, you can see that the 50 EMA has been broken, and a head and shoulders formation has been created in the process. On the MACD , you can see that the green uptrend has been violated, and a momentum spike was not produced. The plane is in a nosedive, and it isn't looking good for this flight to Tokyo.

As you know, I don't normally like to consider outside factors, other than the data on the charts, but BTC             and LTC are soooo strong right now. I would be weary of shorting anything at this point. In fact, I'm not shorting at all. I'm only long, because they're in an uptrend. I'll take profits along the way, but I never fight the primary trend. Remember, the trend is your friend! Don't fight it. Many of the other coins have this same look though. They're rolling over, while things like BTC             , LTC, and LCC             make strong moves. I've taken the liberty to research this a little more. I always follow the market capitalization, and I've noticed that it hasn't fallen much, though many of the alts are rolling over. Then, I went and looked at a chart of coin dominance, and I saw the BTC             dominance is on the rise, and the other coins' dominance is falling. It appears as though a rotation may be occurring, where money is being taken from the alts, and put into BTC             and LTC. So the alts may remain under pressure, while BTC             and LTC continue to rise. Perhaps this is the beginning of some sort of separation. It's too early to tell, but there is some evidence of that.

Anyway, we have a clear breakdown emerging now, so I want to get this out. On the downside, look for the pink trendline to act as rough support, if XRP gets down there. For educational purposes only, if you wanted to short, you could place the trade now, and the stop just above the 50 EMA . There is more potential downside, with a risk of a small loss, should XRP turn back to the upside. If we get back above the 50 EMA , it will be time to reassess the sitch. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. Au revoir.

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-MPC loves you-

-JD-
評論: "sitch" = situation. <3
評論: Well, looks like BTC is reversing now too. All I know, is if BTC falls back into that downtrend channel, I'll put the bear mask on — real quick.
Please send update!!
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check my idea
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do you have a youtobe channel... I want to lern from you. You have Greats analisys and charts. Thank you so much for your work and your time. I hope you keep doing analisys with ripple
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Delay accepted - plain on fire not accepted Lol - thank you again @MagicPoopCannon
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i'll tell also that it's more probably get first to your pink line than start to rise up now but still confidence that it is not to long for your flight to Tokio. It is just delayed
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Hey @MagicPoopCannon, due to your popularity and pretty f-ing good analysis, you already have someone on TV trying to impersonate you. @MagidPoopCanonn is the name. he/she even used your picture. dont know if theres something to do but wanted to let you know.
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@MagicPoopCannon thanks
How many Price for end of year?
Have idea about that?
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Magic, Take a look at 12H xrpbtc - a gigantic symmentrical triangle with the current leg testing the bottom slope at 9000sats and around. How did you miss it? Check MAs for this pair as well. I gues you might miss it looking at a shorter 4H only
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why do you use the 4 hour chart for your analysis? just curious as to the benefits of it
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