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@manjotsbajwa, It does seem like a big drop- I think it's conceivable. 15% chance IMO.
Personally, I think when we see the 4hr oversold on stoch, then a confirmation of an upwards trend (MA on smaller timeframe bullish), that's what I would look for as a buy in signal if I was sitting in cash.
manjotsbajwa
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@tradeformula, Do you think we will see .43-.47? It seems like such a big drop! Thanks
konradkordy
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@cryptorumors, What tradeformula said. you really cant predict price action on a given date. People usually sell the news, yet during the Swell conference, XRP has been holding strong (just an example)
cryptorumors
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@konradkordy, True that... well it's a typical "look at the news" watch a volume rally which is short lived. Currently the volume is low until Grandfather BTC makes its rally upwards past the resistance zone. XRP is in megaphone zig zag pattern not really doing much.
My thoughts are after today and if BTC doesn't rally up past the bearish trends, we can likely see more support in the upper 40's for a short term.
konradkordy
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@cryptorumors, agreed. im watching BTC like a hawk. happy trading
cryptorumors
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@konradkordy, Yeah no doubt... all the charts from what I can see are UP UP UP, and very bullish. We are completing a downward triangle with bull flags. My ideas are that BTC will rally either late tonight or sometime Wednesday, which is fairly consistent week over on the charts.