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narco

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Everything posted by narco

  1. If we are in a bear market, the reverse can happen. Support levels may get broken and then turn into resistance levels on the way down. A bit like going up then down an escalator.
  2. Thats exactly what traders do. If you want to see S/R in action just look at Monero. Price rejected off all those breakout levels exactly to the penny (although the $18 overshot a couple of $).
  3. Ripple is an even easier read in terms of basic support and resistance. $0.40 $0.30 $0.07
  4. Look closely at the red arrows and then look left at the price levels. Those horizontal levels have seen price breakout above and retest the breakout line before moving higher. Those levels can be discarded on the way down. Green arrows are the fresh levels which will act as support (previous resistance) due to the significant volume of buy orders that will be sat waiting there.
  5. It's certainly possible. There are only 2 untested levels of support below. $5k and $1,364. Here's a basic log chart that clearly shows tested (Red arrows) and untested (Green arrows) support. $5k needs to hold, otherwise the door is open to $1,364.
  6. Please show $6,200 support on a chart. I'm seeing $5k, $3k and $1,365. in my eyes, $3k is already toast, so hodlers better pray that $5k holds. As for crypto in general, I think it's done for a long long time. Many alts are not going to recover and will end up being de-listed from exchanges. This is a very dangerous situation for hodlers. As for mining coins, this is a dead end industry to be in as these types of coins are becoming relics.. The next cycle for coins wont be underpinned by mining imo.
  7. There's no substance to that article whatsoever. It mentions about a crackdown on ICO's which needs to happen since they're mostly scams. I'm surprised they've not set their crosshairs on Ripple since they are the shadiest of them all. Bitcoin is going to $5k, $3k and possibly $1,350 as being the cleanest of support levels. If Bitcoin hits $1,350 then XRP will be trading at around $0.03. There's actually good support at around $0.01. As for AML coins, I can't think of a bigger fail. For digital cash, more privacy will be the solution not less.
  8. When your crypto has a CEO, a Senior Vice President and a board of directors, it definitely isn't a crypto.
  9. There's so much ****** in this post I don't even know where to start. XRP is centralised token in that Ripple own 60% of all XRP in existence. When buying XRP, you're basically hoping that it will magically fix all of the banks foreign currency payment issues.Their code is based on open source, meaning the banks can quite easily cut out the middle man and setup their own inter-bank payment system if they wish to. It is a solution looking for a problem. This coin is by far the most over valued in the top 10 market cap. XRP was $0.005 this time last year with exactly the same fundamentals as now at $0.79. Just ask yourself this question. Why is this coin being sold to the general public? The answer is it is a ponzi scheme setup with the sole reason to line the pockets of Ripple Corp. For use as a day to day crypto currency it's also flawed. You have to store 50 XRP just to activate a wallet and it can't be spent. If you really love the technology behind XRP, you might as well just buy XLM.
  10. Talking about DAG's this one is well worth following, based on the Nano and Cryptonote protocals (Monero). No ICO, completely free distribution and has slight inflation build into the system to reward nodes and also allow the coin to function as a currency. https://medium.com/@crypto.thorin/why-is-the-release-of-flicker-network-the-most-amazing-thing-in-crypto-in-q2-2018-53de64f8b6b0 The marketing , branding and design isn't particularly exciting but that is fixable.
  11. The Nano founder has already confirmed that more nodes will be required as the network grows. However, the incentive for vendors to run nodes are be due to the cost saving made by having zero transaction fees. It's entirely scalable. I'm not sure how IOTA plans to scale as I've no interest in the project. As for other DAGs, we'll see how things pan out. It's early days and very few people are even aware of what they are. The general public and media are fully fixated on Bitcoin's "Blockchain Technology".
  12. DAG's are only at the very very early stages of what will become the future of cryptocurrencies. Those articles completely ignore how Nano uses a combination of POS and POW with voting to resolve the security concerns. There's no centralisation and no convincing evidence so far to suggest how it can be hacked. Bitcoin is designed to slow transactions down. Even without the 1mb blocksize, transactions will take 60 minutes to fully confirm and upto 10 minutes for 1 single confirmation. It's slow, expensive and inefficient. The lightning network is a fail since you need both sender and receiver to be online at the time of transaction. There is a risk of loss if a block becomes full as a connection is closed. It requires massive widespread centralised data centres and monitored infrastructure. Worse still, it doesn't fix on chain transaction fees. Once people realise all of this can be resolved on chain, Bitcoin has no future as 'peer to peer money' for day to day transactions. The market is going to punish it eventually.
  13. We've not seen any appear until mid / late 2017. IOTA is a joke but it's only a matter of time before one of these DAG variants cracks the top 5 and gets some serious public attention. We'll also find out what Hashgraph has in store in the next week.
  14. After the bear market is over, many of the traditional mining coins will be dead and buried. There are more efficient, faster, scalable, transaction fee free cryptos coming online that wont require mining at all. If you pick the right coin at the right time, you're probably looking at the next Bitcoin which will eventually get some real world adoption.
  15. Yes, it's the same as any other market but this is certainly the most speculative of them all. S/R lines and SD zones are created the big players moving the price around using price history to organise buy / sell orders. Things like trend-lines, RSI, Stochastics and MACD are helpers but not as reliable as solid price levels and zones.
  16. TA works. Just scroll back through the Bitcoin daily chart and you'll notice how price always retraces to a support level and bounces. A single horizontal price line. These breakout areas are previous levels of demand orders and obvious targets to exit shorts due to the pools of liquidity. Support levels (ie - previous resistance) that aren't retested already will get a retest at some point. $5,000 and $1.365 are the levels. There are also supply and demand zones which are different to support and resistance lines. Bitcoin rejected off an obvious supply level this week before dropping.
  17. Well those who bought this pump will surely be out of crypto for good after this crash. There will need to be a whole bunch of fresh punters next time.
  18. Ripple should be renamed to RIP I can't see anything that can stop 0.39 and 0.30 being reached. Will see if this hold up.
  19. Well there isn't any support at $6,200. That's been and gone. The next level is bang on $5k and that trendline would be spiked. Would have to see the price action when we get there. I don't think the long term bull is done but it could take years and we have a severe recession on the near horizon.
  20. It's looks like a traditional Burj Khalifa formation that could to go back to the origin of the move. Looking at the weekly view it's pretty horrendous viewing. I realise this will sound like FUD, but technically there's a chance of a 95% top to bottom collapse and a multi year bear market on this chart. Maybe fundamentals will prove otherwise.
  21. It's really not looking good here. BTC failed miserably at resistance and support is a long long way down. $5k, 3k and the cleanest untested level at $1354.
  22. This is the issue I have with these crypto millionaires. How excactly have they managed to cash out? Coinbase? How about the tax implications? It's just not a liquid market in terms of exiting in fiat. I would guess most people who have seen such paper profits have probably watched their digital gains evapourate by hodling to infinity. Most people who bought Bitcoin early are probably still praying for $1 million Bitcoin. How many others are currently sat on substantial losses?
  23. I would suggest they consider them more like gambling sites and therefore exempt from CGT. I'm really not sure why we don't have more competition in the crypto exchange space. There's surely some serious demand for UK buyers who want to buy in GBP and not pay the ridiculously fees from coinbase. Seems like an opportunity that is ripe for the taking.
  24. Some serious issues going on at Binance. All withdrawals halted due to an API key hack.
  25. I guess they can grind it out and hope for the best but I feel this is going to be a long drawn out process. Some of these Alts will go to zero and will end up being delisted from exchages. My feeling is the top market cap coins in the next bull run will probably contain very few traditional blockchains.
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