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FLARE has now set the boundaries for a potential cup & handle.I posted a previous chart that surmised a potential cup & handle may be attempting to develop. Now that the recent breakout has pulled back, it has given us the ability to determine the height of the cup, and the pullback will also help us to determine the potential depth of the lower trend line on the handle. The white dashed line is my estimate of the general area I believe it could be. This is a great sign! With the recent bounce we've seen the past 10 days or so, FLARE is now on a lot of people's radar who missed the recent breakout, and are now looking for a potential entry point moving forward. This could give us the volume we need in the coming weeks/months to breakout of the cup & handle pattern, and see even more impressive gains in the near future. Keep in mind it will take time for this handle to fill in, assuming that the cup & handle will continue to form moving forward, but at this point it's looking highly probable. Good luck, and always use a stop loss!
Long
by MetaShackle
1
Flare looks to be setting a classic bull-trap.Flare has been on a run the past 8 days, but if you look at the chart I've provided you can deduce a great many things. Since Jan 11, 2023, Flare has printed a total 11 challenge highs on the chart. Only one time has it broken the previous high, and that happened on April 11th breaking the previous high set on March 28th, (This area is indicated by the green arrow, and the box on the chart as well as in the stochastic) which basically amounted to a 'nothing burger.' In the stochastic, during that same time frame, we see the only time flare has broken the 41.22 level (indicated by the lower white line) running up to 70.62 (the dotted line) which coincides with green arrow in the chart. (The nothing burger) Right now we are seeing Flare potentially challenge the 41.22 level on the stochastic, while also setting another high in the chart at .01182. (As seen in the lower text box) But at the time of writing this post Flare is shaping a red candle next to the last red arrow. So, from this info we can make a better decision on whether or not now is the time to load the boat on Flare. So before I will buy any Flare, I want to see the following. 1st- I want to see Flare break the .01182 level on the chart, and the 41.22 level on the stochastic. 2nd- I want to see Flare break the upper descending wedge trend line. 3rd- I want to see Flare break the previous high of .01265. What would be a really bad sign is if Flare drops below the .0081 level (the lower dotted line) as it could be a sign that price movement is going to head back down to the lower descending wedge trend line. I hope this helps you make a better decision. Keep in mind, if I do buy Flare it will be for a long-term, multi-year hold, and that entry is mainly what I'm trying to deduce from this data. Happy trading! * For reference. The Moving Average is the 75 Simple M.A. And my Stoch is set to 60/1/3.
BITFINEX:FLRUSD
by MetaShackle
3
XRP & XFLRToo much confusion over this XFLR (Poloniex) and FLR (Bitrue) Let's finally clear this all up... Flare Networks launches this quarter (very soon) Their token is the Spark Token (FLR) FLR tokens will be distributed (15% of total) as soon as the Flare Network launches. (~3% per month after that until 100%) An airdrop was done in December, owners of XRP gained 1.0073 FLR tokens for each XRP they held in the necessary accounts. XRP owners have itchy trigger fingers and wanted to trade FLR tokens even though none have been handed out yet. Poloniex and Bitrue said, hey how about we give you "IOU's" to trade now, then when the actual FLR tokens are handed out we will give you 1 REAL FLR token for each 1 IOU token you own. Now this is where people are confused. (The too long but still read: Spend $190 on Bitrue to get 100 real FLR (Total value of $190) Spend $220 on Poloniex to get 100 real FLR and still have 567 XFLR leftover (Total value of $377.11)) Pay attention. Bitrue said, we will only be getting 15% of the total FLR tokens at launch. So if you had 100 XRP you would get 15% of that (multiplied by 1.0073 technically, but let's just go with 1:1 for now) at launch. Bitrue then handed out IOU's like this: 100 XRP = 15 FLR(IOU) Poloniex said, we will give you 100% of the total FLR tokens at launch. So if you had 100 XRP you would get 15% of that at launch, then ~3% per month until you hit 100% of what's owed to you. Poloniex then handed out IOU's like this: 100 XRP = 100 XFLR(IOU) These IOU's are convertible into real FLR (spark) tokens after Flare Networks goes live. Here is the next part where people get confused. PAY CLOSER ATTENTION (Pricing at time of writing) (**assume real FLR is the same price as FLR(IOU) from Bitrue, but could be anything really) Buy 100 FLR(IOU) on Bitrue at $1.90 When Flare goes live, get 100 real FLR tokens Every FLR(IOU) is converted to real FLR. You now have 0 FLR(IOU) and have 100 real FLR. Total Cost: $190 Total Value: FLR(IOU) + real FLR = 0 + $190 = $190 Congratulations you now own 100 real FLR and it only cost you $190. Buy 100 XFLR(IOU) on Poloniex at $0.33 When Flare goes live, get 15 real FLR tokens (15% of the XFLR you own) 15% of XFLR(IOU) is converted to real FLR. You now have 85 XFLR(IOU) and have 15 real FLR. Total Cost: $33 Total Value: XFLR(IOU) (85) + real FLR (15) = $28.05 + $28.50 = $56.55 Congratulations you now own 15 real FLR and still have 85 XFLR and it only cost you $33. Each month ~3% of the remaining XFLR will convert to real FLR until you have 0 XFLR remaining. After 3-4 years, you have 100 FLR just like Bitrue. Bitrue it cost you $190 for the convenience of getting it all at once Poloniex it cost you $33 but you had to wait to get 100% of the real FLR That's quite the premium you paid So let's put it this way You read all this and think, of course, I want it all at once and I'll pay the premium, screw waiting 3-4 years. I want 100 real FLR in my account as soon as the Flare Network launches. Buy $220 of XFLR on Poloniex. Get 667 XFLR When the network launches, get 15% of 667, 100 real FLR tokens. Have 567 XFLR left over that will give you ~3% more real FLR tokens per month until you have 667 real FLR tokens in 3-4 years. Total Value = (567 x 0.33) + (100 x 1.90) = $377.11 Spend $190 on Bitrue to get 100 real FLR (Total value of $190) Spend $220 on Poloniex to get 100 real FLR and still have 567 XFLR leftover (Total value of $377.11) #easymoney
BITSTAMP:XRPUSDLong
by orlinmyer
5
XRP AlternativeBack in November 2020, we had a large rise followed by a pennant, followed by another large rise. Previously I saw a consolidation forming, but now I’m thinking we’re like the Cubs and hunting for a pennant. Closing triangle closes in the next 12 hours so we should have an answer soon. Either a move down towards $1.225 to continue consolidation. Or, a swift break past $1.54 and towards $1.90 XFLR on Poloniex should follow suit #worldseriesafterpennant #pennantisaweirdwordifyousayittoomanytimes
POLONIEX:XRPUSDLong
by orlinmyer
6
XRP Weekly ConsolidationXRP has just had a parabolic rise followed by a break of that parabola and setting of new high. XRP will consolidate over the next days/week. As before, expect a 7 wave down, followed by an ABC pattern. A double retest will mark the start of the next parabolic rise. The prices and timing of this graph should be close enough. (Peak of Parabola should be higher, I just didn’t want to stretch this pattern for clarity sake) My buddy Super Dave from the future didn’t give me a better picture this time around (jerk) Expect this master pattern to continue until say we hit $2.36? While this consolidates I’ll be shifting my focus to XFLR on Poloniex. #noeasternpromises #blamedaveifwrong
BITSTAMP:XRPUSDLong
by orlinmyer
14
XRP Sept 22nd 2021 CompressionInteresting to sometimes take a step back and look at the whole picture. XRP has many converging trendlines that all meet up around Sept 22nd of this year. Obviously this cannot hold through the year, so once these break, it could be a huge break... Diverging from these channels could signify huge upside (or downside if you choose to look at it that way) April and May are shaping up to be very important months in regard to timing. A break of the upside trendline would be very big. #09222021
BITSTAMP:XRPUSDLong
by orlinmyer
24