MagicPoopCannon

MagicPoopCannon

Hi friends! Let's take a look at Litecoin! Looking at the four hour chart, we can see that a breakdown did occur from the symmetrical triangle, but, instead of producing a continuation to the downside, price action just tiptoed higher. Despite the weird sequence of events (breakdown to upside trade) it's actually shaping up to be a nice recovery. Although, it's...

MagicPoopCannon

Hi friends! Let's take a look at Monero! Looking at the four hour chart, we can see that XMR continues to fall from the area where I issued my first "warning post." Since then, XMR has had a 25% decline. That is incredibly valuable analysis. We can see that a bear flag was formed, which has broken to the downside, but price hasn't produced a sustained drop from...

MagicPoopCannon

To everyone who trades Tron, the moment I've been talking about is upon us. If you remember from my last post, I said " Ultimately, I think TRX/BTC will continue to trade sideways, until it hits the top of the downtrend channel . When that occurs, it will likely be forced to move in one direction or another. I would like to warn you, that when price action coils...

MagicPoopCannon

Well, now, don't you tell me to smile You stick around I'll make it worth yo' while My number's beyond what you can dial Maybe it's cause I'm so versatile HAHA What's up world? That song always makes me feel good, and the lyrics really apply. =D Let's take a look at Ethereum! Looking at the four hour chart, we can see that Eeth has created a big symmetrical...

MagicPoopCannon

Well friends, let's take a look at the sad state of Ripple. Shall we? Looking at the four hour XRP chart, we can see that after dropping from the huge head and shoulders pattern, XRP formed a big bear flag, and has been grinding lower in a downtrend channel (maroon dashes) ever since. The most recent price action shows repeated failed attempts to rally out of the...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Litecoin! Taking a look at the four hour chart, we can see that LTC continues it's descent through the blue downtrend channel. After forming a series of bearish patterns, LTC has broken down from the bottom of the symmetrical triangle. Symmetrical triangles are continuation patterns, and since we're in a bear market,...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Bitcoin! If you recall from my previous two posts, I informed you that "the 50 EMA (in orange) is quickly falling toward price action. Judging by how resistive the 50 EMA has been, the odds are that it will continue to put any attempted rallies in check." Looking at the four hour chart, we can see that there were two...

MagicPoopCannon

Hi friends! Welcome to this update analysis on TRON! Looking at the four hour chart, we can see that the failures at the 50 EMA (in orange,) have continued as anticipated. If you recall from two TRX/BTC posts ago, I said "If you'll notice, there is actually a pattern of fails and holds. We can see that each time the first "Fail" or "Hold" is posted, at least two...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Litecoin! Let's jump right in! Looking at the four hour chart, we can see that LTC continues to test the pink support level, as it consolidates in a sideways trading range. The 50 EMA (in orange,) is falling toward the price action, so it may be the final straw, that helps LTC break the pink support level. We can see...

MagicPoopCannon

Hi friends! Welcome to this analysis on Cardano! Looking at the four hour chart, we can see that after breaking the uptrend support (black dots,) ADA/BTC has turned to the upside, to retest the former support level. What happens here is critical. If ADA/BTC has a sustained breakout back above this rising support level, it will signal a failed breakdown. However,...

MagicPoopCannon Updated 

Hi friends! Welcome to this update analysis on Stellar! Looking at the four hour chart, we can see that XLM has exploded higher, after breaking out above the downtrend channel (blue dots.) If you recall from my last post, I said "we can see that XLM remains above the falling downtrend channel, as it tests substantial overhead resistance. You can see that several...

MagicPoopCannon

Hi friends! Let's take a look at Bitcoin! If you remember from my last post, I said " If you'll notice, the 50 EMA (in orange) is quickly falling toward price action. Judging by how resistive the 50 EMA has been, the odds are that it will continue to put any attempted rallies in check." looking at the four hour BTC chart, we can see that there has been another...

MagicPoopCannon

Hi friends! Let's take a look at Monero! As many of you know, Weiss Ratings (a U.S. based securities rating agency) released the first ever industry recognized cryptocurrency rating. The release allegedly triggered a failed cyber attack, in which Korean hackers attempted to sabotage the reporting. Additionally, the release drew stark fire from cryptocurrency...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Ethereum! As many of you know, today marks the release of the Weiss Ratings cryptocurrency report, in which the U.S. securities rating agency has publicized it's official grading of several currencies in the sector. Enter Ethereum! Weiss has disclosed, in it's ratings report, that Ethereum was awarded grade B, due to...

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's still trading inside of the maroon downtrend channel. Over the past 24 hours, XRP has attempted and failed to get above the top of the channel, as it continues to grind lower. We can see that XRP is caught between support and...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Bitcoin! Let's jump right in! Looking at the four hour chart, we can see that BTC has found some temporary support, at the red trendline. At the moment, BTC is caught between that red support level and the 61.8% retrace. If you'll notice, the 50 EMA (in orange) is quickly falling toward price action. Judging by how...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Tron! Looking at the four hour TRX/BTC chart, we can see that it continues to produce failed attempts to rally above the 50 EMA (in orange,) as expected. If you recall, from two posts ago, I said "If you'll notice, there is actually a pattern of fails and holds. We can see that each time the first "Fail" or "Hold" is...

MagicPoopCannon

Hi friends! Welcome to this update analysis on Litecoin! So, I literally just asked the Magic 8 Ball "will Litecoin rise?" It's response was "Outlook Not So Good." LOL My thoughts exactly. Apparently, magicians think alike. Regardless of my bearish opinion on Litecoin, I think it's important to disclose that Litecoin happens to be my personal favorite...