The Dow
First thing I'm noticing is the red line seems to be the support on three occasions, with three distinct periods from 2018 where the DOW dropped to the red line and recovered.
2020 Corona crash has had a somewhat perplexing recovery, which to me defies absolutely all and any logic!
It's absurd the DOW has rallied like it has given the economic horror...
Other than being a guy drinking lots of morning magic coffee that makes me sharp and want to draw random lines on my phone when....ok I'm going to start rambling.
Point is that I think we've seen the DJI try and stage a strong bull rally, fueled by stimulus and hopium.
But it seems that the true reality of the post lockdown Corona world still hasn't set in and I...
Ignore the noise, the truth lays somewhere between the magic blue and red lines.
When the price gets in that zone funky things appear to happen, looking at this over a longer period, bitcoin seems to be skipping on this support it’s a matter of how long will it continue and why is this happening ?
I got no idea, I’m just a guy looking at lines thinking I’m...
Looking at the weekly chart there's a clear downtrend in place since early 2018, where the DOW has landed on the support line on multiple times in 2018.
Again here in March the Dow colliding with this support, just time will tell how much it bounces and whether or not it follows the trend.
Looking at the magical colored lines, it's clear to me from 1975 - 2008 the dow spent most of it's time hugging the red line, launching off it from 1995 and falling back to it during tech bust in the early 2000s.
From 2008 thought it fell below the purple line which I believe is an old support from around 1982-1985 this line line connect all the way to post 2008...
Still has far more to go south on the 4hr chart.
Just my opinion but I think we'll see some more bounces before another big plummet.
Worst is yet to come, I could be wrong!
There's no doubt the Australian economy and share market has seen impressive continued growth up until March 2020.
It's clear from around 87 - March 2020 there market has been in a positive trend, with a rough support line, which is has only briefly dropped below in the 90's and notably in 2009 where it seems to hit a secondary support line in red.
It's clear...
Looking at my chart, it's clear that since the beginning of the chart to Dec '13 has been in an overall ascending wedge with two notable deviations.
One deviation in 2000 where a short sharp descending wedge took the AUD to the lowest point in 2001 before finally getting back to the ascending wedge by October 2003.
In 2008 it again briefly dropped during the GFC...
Sucks to be an XRP holder especially when many are stuck holding a token that has constantly fallen and now at its historic lows.
Either way, stiff resistance above.
It will likely retest the 15cent range, may pump a little if it continues to pump the trend is broken.
But if it retests 15c and does dump as I expect don’t expect to ever see XRP this high again...
Yeah so looks like get your moon hats or whatever ready because we are going to $46k+ very soon, yes any minute we are going to Moon and mass adoption is with us......
I know all because I drew some magic lines!
Reality is 99% of people on here in the crypto sphere talk shit and are just making it all up.
Crypto is one giant circle jerking casino, play it with...
$XRP is clearly following the Titanic pattern and soon likely to breach the hull, allowing more water to flood in eventually sending her to the North Atlantic.
All this is figurative of course if you're too stupid to actually take most of that literally.
Any who.....$XRP is going down and will never see the 2017 highs EVER again/
Yes be some more pumps but...
Zoom out to weekly candles, the reality is clear that bitcoin is in a long long downtrend.
Another thing is clear is there is some repeating pattern hear, with crazy pumps followed by dumps.
Each time though the pumps are weaker and weaker.
I don’t know anything but I’ll predict is bitcoin breaks the $7300-7500 support it’ll be free falling until Bitfinex and...
No matter what crap crypto people want to vomit from their mouths the long term support and resistance with Ripple's XRP token is clearly downward.
No matter what anyone says SWIFT will continue dominate the international remittance market, Ripple won't.
The trend is only down. that's a fact jack!
But what the fuck do I know ? I'm just making this shit up as I go by studying magic lines, the market is manipulated and rigged as buggery, it's really just a brutal casino game.
Mark my words some point reasonably soon after I post this, Bitcoin will show a massive green dildo propelling it well into the low $10k...
