MagicPoopCannon

MagicPoopCannon

Hi friends! Welcome to this update analysis on Ripple! If you remember from my last post, I told you that XRP looked like it was setting up to form the right shoulder, of a large head and shoudlers pattern. Looking at the four hour chart for XRP, we can see that it's filling in the right shoulder perfectly. Inside of the right shoulder, we can see that it's...

MagicPoopCannon

Hi friends! Let's take a look at Litecoin! If you recall from my last chart, there was a bear flag, which had been broken to the downside, just below the 200 EMA (in purple.) However, I've noticed that LTC has morphed into a downtrend channel, so I removed the bear flag, in favor of the newly formed channel (black dashes.) Looking at the chart, we can see that...

MagicPoopCannon

Hi friends! Let's take a look at Ethereum! In my last post, we reviewed the bear flag at the top of the chart, (in black,) and how ETH had fallen to the 50 EMA (in orange.) I emphasized how important it is for ETH to hold the 50 EMA, and so far, the bulls are defending it well. We can see that a small bounce occurred, from the 50 EMA, and prices have now climbed...

MagicPoopCannon

Hi friends! Let's take a look at Ripple. Here on the four hour chart, we can see that XRP remains in a downtrend channel. It has tried three times, to rally out of the topside of the channel, but has failed each time at the overhead (Resistance.) Looking at the overall structure of XRP, you can clearly see that it's forming a head and shoulders-type pattern. I...

MagicPoopCannon

Hi friends! Let's take a look at Vertcoin! As you can see, VTC recently produced a technical development, known as a "Death Cross." This is when the fast moving 50 EMA (in orange,) crosses below the slower moving 200 EMA (in purple.) It is indicative of falling price action, and usually a precursor to further downside. Additionally, we can see that major uptrend...

MagicPoopCannon

As I warned in my last post, Ethereum was trading in a bear flag. As you can see, it has fallen out of the bear flag and hit my "possible target." I'm going to be blunt with you now. I see widespread weakness building in the entire crypto space. It seems like an epic selloff is imminent. Looking at the MACD, we can see that it is falling off of a cliff, and...

MagicPoopCannon

Hi Friends! Let's take a look at Bitcoin Cash! As you can see, on the four hour chart, BCH has been stuck in a sideways consolidation range (light grey box.) Taking a closer look at the price action inside of this range, we can see that BCH has had four failed attempts, to rally above the 50% retracement level ($2,756.) After it's most recent failed attempt,...

MagicPoopCannon

Is technical analysis incredible or what? I haven't moved the "Possible Target" label at all, and Stellar fell to it exactly. The accuracy of good chart reading never ceases to amaze me. Whoever you're following, forget them. Stick with me people. I will be your guiding light. As we can see, stellar had a sharp rally after falling to the 200 EMA (in purple.) It...

MagicPoopCannon

Hi friends! I hope you are all doing well. Taking a look at the four hour chart for Ethereum, we can see that it did fall below the 20 EMA (in blue.) If you recall from my previous post, I told you that if ETH falls below the 20 EMA, a deeper correction may be coming. As we can see, ETH has been all over the 20 EMA, and it's now creating a bear flag consolidation...

MagicPoopCannon

Hi friends! I hope you are all doing well. Taking a look at the four hour chart for Ripple, we can clearly see that the weakness is continuing. It has fallen out of the bear flag that I showed you yesterday, only to form another bear flag consolidation below it. XRP remains in a downtrend channel, and is experiencing relentless expansion of sell-side momentum. I...

MagicPoopCannon

Hi friends! Bitcoin has formed a series of head and shoulders patterns (in red,) just above critical support. If you look at the right head and shoulders pattern, you can see that BTC has already broken lower, and is now forming a bear flag consolidation, after a dead bounce off of the "Critical Support" level. This is a perfect set up, for a break of the...

MagicPoopCannon Updated 

As I have been warning, Litecoin is now breaking support, below the bear flag, and the 200 EMA (in purple.) It has also created a bearish engulfing candle, with expanding sell side momentum. The bottom side of the bear flag is being tested, to confirm it as new overhead resistance. If LTC does not rally back above the 200 EMA, look for lower prices, possibly down...

MagicPoopCannon

Stellar has broken down from the bear flag, and has hit my "possible target" at the 200 EMA (in purple) that I published earlier today. If the 200 EMA is lost, XLM could plummet all the way down to $0.3000 or lower. Sell-side momentum is expanding, so further downside is possible. This is an emergency update. ***This information is not a recommendation to buy or...

MagicPoopCannon

Ripple has broken down from the bear flag, and is now under the black support level, testing the 200 EMA (in purple.) Should the 200 EMA, and the bottom of the parallel channel fail, XRP could plummet, as sell-side pressure continues to engulf the crypto space. On the MACD, we can see that downside momentum is increasing, making further losses possible. A...

MagicPoopCannon

Bitcoin is continuing to fall, and it is now approaching CRITICAL SUPPORT! If the Critical Support level is broken, with a sustained push lower, Bitcoin could fall below $9,000. This is an emergency update. ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** -JD-

MagicPoopCannon

Hi friends! I hope you're all doing well. Looking at the four hour chart, for Ethereum, we can see that it is in a beautiful, very strong uptrend channel. It's actually trading in a channel that has several parts, so I've used a pitchfork tool, to highlight the rising support and resistance levels. As you can see on the chart, ETH has been riding the 20 EMA (in...

MagicPoopCannon

Ripple has fallen slightly lower than the downside target of $1.75 that I propsed in my last post. Looking at the four hour chart, we can see that it has fallen to the exact low that was made on 12/31/17 of $1.61000. It has since bounced off of that level, but only to begin forming a bear flag consolidation. Crypto markets are very weak, and selling is likely to...

MagicPoopCannon

As I've warned in previous posts, Litecoin is in a bear flag, and will likely head lower! Looking at the chart, we can see that LTC is now breaking down from the bear flag. This is a red flag warning of more downside for litecoin. We can see that price action has actually pierced the 200 EMA (in purple,) so it is likely to be broken in the near future. Also, the...