MagicPoopCannon

MagicPoopCannon

Hi friends! Welcome to this update analysis on Litecoin! Let's jump right in! As you can see, an absolute miracle has happened! LTC has finally managed to get above the 50 EMA! The question now, is will it hold? If you remember from my last post, we discussed how the double bottom had met the majority of my qualifying requirements, to classify as a double bottom....

MagicPoopCannon

Hi friends! Welcome to this analysis on Bitcoin Cash! Let's jump right in! Looking at the four hour chart, we can see that BCH is approaching the top resistance of the downtrend channel (black.) The surge off of Tuesday's low, has been very impressive, as opposed many of the other top coins. However, BCH has done something very important here. It has surpassed the...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Ethereum! Let's jump right in! Looking at the four hour chart, you can see that ETH did breakout from the bull flag, but the breakout is not impressive. The dotted black trendline (rising from the bull flag) represents the potential gains acquired by a move equal to 100% of the formation's potential. Unfortunately,...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Stellar! Looking at the four hour XLM chart, we can see that a breakdown from the ascending broadening wedge (blue dashes) occurred, but XLM quickly found support with the rest of the market, and popped right back up into the wedge. However, I wouldn't get too excited, because the rally quickly stalled and we appear...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Ripple! Let's jump right in! If you recall from my last post, on 2/5/18, XRP was forming the recent low. Since then, it found support with the rest of the market, and has rallied into the 78.6% retrace. However, we shouldn't get too excited just yet. If you look closely, you can see that a small head and shoulders has...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Bitcoin! Let's jump right into the chart. As you can see, I've drawn a bear flag over the current price action. Now, I have to admit, I'm still leaning bearish on the market right now. The charts are putting out a lot of mixed signals at the moment, which is to be expected, as the bulls try to put a bottom in this...

MagicPoopCannon

Hi friends! Welcome to this quick update analysis on Litecoin! All I can say right now, is the 50 EMA is a mofo! If you look at the four hour chart here, you can see that (except for one occasion) LTC hasn't successfully traded above the 50 EMA (in orange,) since the major rally to the all-time high. This is a bit concerning, considering the unusually optimistic...

MagicPoopCannon

Hi friends! Congratulations to my Twitter followers, who won this week's analysis vote, by voting for NEO! Let's jump right in! Looking at the four hour chart, we can immediately see that NEO has been producing some gut-wrencingly high volatility. In the past seven days, it has fallen from 170 to 64 — a 63% loss. However, within the last to days, the price has...

MagicPoopCannon

Hi friends! Let's take a look at Ethereum! Looking at the four hour chart, we can see that ETH fell EXACTLY to the bear flag's full correction depth, which is shown by the dotted black trendline that is falling from the bear flag. The triangle target was not met, but ETH came very close. That's good enough for me. My LTC target was reached, but the rest of the...

MagicPoopCannon Updated 

Hello, my beloved friends! Welcome to this unusual analysis, on Litecoin! I'm going stick my neck out there again, and attempt to throw my first upside target on the chart. Before we go on, this is very conditional. It will depend on many factors, such as how LTC responds to upcoming resistance, and if it can make it's way above the downtrend channel. There are...

MagicPoopCannon

Hello, my beloved friends! Welcome to this unusual analysis, on Litecoin! I'm going stick my neck out there, again, and attempt to throw my first upside target on the chart. Before we go on, this is very conditional. It will depend on many factors, such as how LTC responds to upcoming resistance, and if it can make it's way above the downtrend channel. There are...

MagicPoopCannon

Hello, my beloved friends! Welcome to this update analysis, on BTC. Let's jump right in. Looking at the four hour chart, we can see that after dipping below the bottom of the downtrend channel, BTC almost touched my downside target, but it was stopped just above, around $6,000. Then, the buyers rushed in, with strong volume, pushing BTC back up inside the...

MagicPoopCannon

If you know me, and you follow my Stellar posts, you KNOW that I've been calling for a breakdown of this ascending broadening wedge formation. WOW WOW WOW! It's finally happening. Let me just pull a quote from my "Genius Calls in Stellar" post. "You can see that the price target is right at the 78.6% retrace. I've been saying for WEEKS, literally, that the...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Ripple! Let's jump right in. Looking at the four hour XRP chart, we can see that it has fallen significantly from the bear flag that we were discussing in my last post. If you recall, I said " Looking at XRP, this is what I think. If the bounce was all that it's cracked up to be, we wouldn't be getting stopped cold at...

MagicPoopCannon Updated 

And there it is folks! Bitcoin straight SMASHES through the bottom of the downtrend channel. At this point, it looks like nothing will stop BTC from reaching my infamous, hated, disputed, and rejected downside target near $5,650. And isn't it INTERESTING that Litecoin hasn't even taken out the low from Friday yet? I told you that it was likely to be more...

MagicPoopCannon

Holy Shizzle! ETH is getting crushed! Looking at the four hour chart, you can see that ETH has PLUMMETED from my bear flag, and has dropped straight though the support at $665, like it doesn't even exist. The next downside support is at the 78.6% retrace, near $615, then my oh-so-hated, publicly chastised, heavily disputed downside target will be met. How do you...

MagicPoopCannon

Hi friends! Welcome to this update analysis on BITCOIN! Let's jump right in. Looking at the four hour chart, you can see that BTC has rolled out of my bear flag, and has fallen like a dead bird from the sky. Without a doubt, BTC is the most important coin to follow right now, because it has cascading effects on the entire market. We can see that it is very close...

MagicPoopCannon

Hi friends! Today, I'd like to step away from crytpocurrenceis, to review a market has maintained my interest — bonds! Specifically, we're reviewing the weekly chart, for the TLT, which is the 20 year T-bond ETF. Personally, I have held long term put options against the TLT, for a couple months now. As you know, I don't particularly care too much for fundamental...