pennywise_the_sage

pennywise_the_sage

Could, woulda, should, I know. It just looks like that right now. Could be an Adam and Eve pattern is a type of reversing patterns. One pointed low and one smoother, wider low. And then UP.

pennywise_the_sage

What looks on the picture is a symmetrical wedge (inside of which was also a upward broken channel), which seems to be broken in an upward direction. Maybe we will first see some comfirmation, but in my opinion this points up.

pennywise_the_sage

Right now everything looks the same: - major correction within a bullrun - check - major correction ends with a downward spike (almost makes it look like adam and eve bottom) - check - tripple RSI top - one still missing The way I see it, we are currently waiting for the second part of bullrun, like it was in 2013. So be patient and wait a few more weeks. Things...

pennywise_the_sage

Here I highlighted a comparison to developments in 2013. This comparison is under recognised, since in 2013 both of steep growths were consequence of the same reason. Which was, reward halving on November 28, 2012. Similarly, following halving on May 11, 2020, we had our first explosive growth. There were some impediments (China clampdown), but rest assured, the...

pennywise_the_sage

Inverse head and shoulders are marked on picture. This could push the charts upwards. Howeverm I expect real stratospheric-type growth only after April, not before.

pennywise_the_sage Updated 

Dear XRP hodlers. It's been a bumpy road until here. Since 2018 XRP lost more than 90% of its value, then showed a pulse of life and started falling again. Lately the news are being echoed that Ripple Labs are being sued by SEC (U.S. Securities and Exchange Commission) and that this has a heavily negative impact on the price. I don't believe that the news have...

pennywise_the_sage

Looks like an upward triangle. Looks like, this one will take it's time to complete, too. The triangle may even breakdown and extend into a longer period, but I don't see a big correction yet. FOMO looks strong right now, so I expect some more growth. Would I buy? Well there may be a 30% correction. But, considering lots of buyers wait for this correction, it...

pennywise_the_sage Updated 

We see the wedge formation unfolding, breakout expected in next two days. Probably followed by next consolidation formation. We are close to 6 months after halving, so the growth should slowly start accelerating. Slowly. Hodl tight!

pennywise_the_sage

You can see the giant symmetrical triangle that broke upwards at the end. Why is the encircled part excluded out of the triangle? Because it was a response to corona interruption. It doesn't fit into the chart pattern! Apart from the corona interruption, the analysis is pretty straightforward - according the triangle, $26000 is to be expected in the mid-term....

pennywise_the_sage Updated 

This upwar triangle is nearly as slow as the May-July one. But we're getting there. The local minimum seen right now won't drop below 11200, probably it will rebound at 11470. The move up will happen close to or in September.

pennywise_the_sage Updated 

If this guess is correct and we get 10900, this would be a higher high -> bullish trend.

pennywise_the_sage

Hi everyone. At the end of march, there was a giant increase of USDT marketcap that can be seen here: coinmarketcap.com This newly arrived money is now at the ecxhanges and is behind the recovery after the BTC/USD fall to $4500 mark. And there is still plenty of buying power left. On bitstamp, when you check the depth chart, where purchase and sell orders are...

pennywise_the_sage Updated 

I think the picture is more or less self-evident.

pennywise_the_sage

Looks like an ascending triangle, but not very strong supported. So it may fail. If we get a rebound, we could safely expect some growth, especially considering golden cross that just occured. We should see in one day.

pennywise_the_sage

Hello fellow traders. On the picture we see the mother of all bullish wedges. If the theory is correct, the chart should continue down to the bottom of the wedge (purple box) to 17000 satoshi value. And should, of course, than explode much higher. By doing that it would also produce a double bottom. Incidentally, on large exchanges like Bitstamp, at 17ksat mark...

pennywise_the_sage Updated 

It looks like the upper trendline, lasting all the tay from January 2018 could finally be broken. Why maybe it won't be: - obvious lack of bullish volume Why maybe it will be: - RSI and MACD look kinda bullish - there are a lot of support levels under the triangle edge and also some trendlines, not drawn.

pennywise_the_sage Updated 

Good news have been piling up for a while now about XRP. Does it show on the chart? Only partially. And it makes sense, since there is not much of the projects really running and xRapid only transports small sums. But nevertheless, Ripple is signing contracts with really large banks (SBI, GMT...) and other institutions (MoneyGram, Amex...). So at least...

pennywise_the_sage Updated 

Adding to the prevalent sentiment around here, I hereby declare a jump to some 10ksats (0.000105...). Whether you look at the moving average or the support line drawn on the chart, the result is the same. Every time the chart bumped into the support line we saw some jump. As noted by others, xrp showed a lot of resilience, so I don't expect the rate to drop below...