CaptainQuickWit

CaptainQuickWit

Declining volume and volatility. We should see the price fall fairly soon, it does not appear that the bubble is done bursting. Nothing extraordinary in my analysis, trend from 20k has not shown a sign of reversal so we can expect another drop.

CaptainQuickWit Updated 

Now we are finally seeing a clear predictable pattern for xrp. How long it will continue this pattern is anyone's guess. If support continues to hold, then the next fib line will be our price target.

CaptainQuickWit

Looks like it is about to break down. It left the upward sloping price channel and and is going through a phase of price congestion, with high volume that is now declining. A clear sign of a break out, which direction is hard to say for sure. The wicks look bullish and the massive selling couldn't push through a fib support, which could be interpreted as bullish...

CaptainQuickWit

JUST SPECULATION, but what I assume would happen is it would form bull flags between the two fib zones which grow larger and larger until it enters another price congestion (distribution) where price would then fall.

CaptainQuickWit

chart speaks for itself. For a short period early on the in bear market XRP acted as a hedge for btc so it would not be unreasonable to assume XRP might still hold on for a little while longer while btc is falling, although the green buy zone needs to be watched for a break down. While the price does drop below the buy zone for a few days I decided to consider...

CaptainQuickWit Updated 

I've outlined all of the support and resistances on the chart. It's moving sideways between the green and red lines, and with the MACD diverging I personally think that $415 is a good price to go long. However, the sideways movement may also act as a continuation pattern to a move lower, at which case we can expect the price to move down to the next support. If...

CaptainQuickWit

Green buy zone is strong and is where you should aim to go long at (.25 to .30). The blue historical support/resistance is also holding strong as well with no signs of weakening, and with the way the price is going now if it keeps increasing at the same rate it the price will likely coil up forming a rising wedge and fall back down to support. The first orange...

CaptainQuickWit Updated 

The chart speaks for itself. There are several issues with Bitcoin: the triangle, and the declining volume on the 6k support. If no buyers come in then prices WILL fall at some point. Have we reached that point and will the price continue to go down? Who knows. While low volume often associated with declining price, it's also when price is easily manipulated. It...

CaptainQuickWit

The rally is over. The price was rejected at the $590 resistance with massive selling, while a small recovery can be expected we have no reason to expect the price to go up anymore. We will likely see a retest of the support of $415.

CaptainQuickWit

The overall pattern we have been seeing is that the uptrend kept losing momentum, eventually turning into sideways then reversing to trending downwards. I have drawn the two trend lines more of an average price range rather than hard support/resistance. I see this going two ways: the price reverses and goes back into the price range, or moves sideways within/just...

CaptainQuickWit

NO! This is not at all bullish, especially with the dwindling volume. In fact we might even see another drop back down to 6k. Look at the bigger picture and the volume. Before we make any real progress we need to break out of the triangle pattern we have been seeing since July.

CaptainQuickWit Updated 

***Analysis*** What we are seeing is that there was an exhaustion move and a key support is still holding. MACD shows undersold and RSI is moving up after briefly being borderline oversold. I believe what this is is a earlier, but unconfirmed indication of another price jump. While $590 support is holding, we need to see the 3/1 gann line hold (which it ****LOOKS...

CaptainQuickWit

Before we see another bull run we need to see equal supply and demand . The "low volatility" people are talking about looks more like the price coiling up which is worrisome. I would like my period of equal supply and demand more closely resemble sideways movement like at the end of the last bear market, not a triangle like what we are seeing now. But as long as...

CaptainQuickWit

It's been a rough year for Bitcoin. I've seen many people's opinions, some like to draw a descending triangle while others like to draw a wedge. I've seen some people take its low volume as a warning sign while others like to draw a giant resistance line, all the while re-adjusting it every time the price breaks through while claiming there will be a giant "break...

CaptainQuickWit Updated 

Over the 1 hour chart what I am seeing is that the trend so far is losing momentum and is correcting. The lines in red are the intermediate trend lines. It's showing a head and shoulder's ish formation and since it didn't go back to the top of the gann lines and broke below the red support, it will very likely, at minumum, correct to the 3/1 line if not further....

CaptainQuickWit Updated 

It goin down.