What's going on snipers my email a baby here, hope all of you guys are having a wonderful day today Let's go ahead and dive right into our daily cryptocurrency analytics for today We're gonna be talking about my three favorite coins which is ripple iota and light coin right now I'm gonna talk about exactly how we could have actually Predicted the growth over the past coming days as well as where the future lies for these three coins so as we could see with This ripple chart. It was actually really easy to predict this for you. New traders. You know I like to use very basic Simple techniques for you guys to actually see here, so this is called a pennant. I and I'm gonna show you guys exactly What a pennant is if you guys are on our discord the link is in the description below It's a free resource that I've created for the community to actually participate and learn If we go to trading 101 here, so we have resources and then trading 101 resistance is a price level that may prompt an increase of selling activity and a Support levels a price that may prompt a net increase of buying activity just to show you guys that really quick if you're new Support levels are formed at the top.
It's also called the top and then the resistance levels are formed at the bottom They are called the resistance or you can call them droves so in this formation we see a pennant It's a clear indication that we're gonna see a price movement if you go to our trading 101 Just scroll down As you can see we have all of these listed out for you shout out to Alan for making this for us And this is a pennant here So a pennant is created when there's a significant price movement in the stock followed by period of consolidation This creates the pennant shape due to the converging lines, so you guys can actually read this if you want But pretty much we see a breakout at this last point where it gets extremely narrow And as you can see this was a clear pennant I posted this on our discord as you, and I post all of our price alerts there And then we obviously did see this breakout now We're seeing some consolidation But I think we're definitely going to be seeing a lot of this volatility over the next couple of days just based on bitcoins drop in price right now obviously Bitcoin controls typically 50 percent of the market So it's gonna definitely influence all these other coins so for XRP the reason I like it is because it's an amazing It's amazing coin due to the team that's behind it in my opinion being that they're number four their market caps Currently at twenty nine billion.
They have over 38 billion coins and circulating supply I like the fact that it's centralized if you guys watched my ripple video on why I think it'll rise in 2018 I talked about the pros and the cons But being centralized and working with banks is typically a good thing so go ahead and watch that video if you actually check that out Let's go to talk about litecoin Why is this my other favorite coin, and I want to show you guys a very clear pattern formation here So as you can see we there's a clear ascending triangle forming here And I'll show you guys exactly how that looks on our discord as well But this was the ascending triangle that we saw here form and if you go here to our Resource ascending triangle as you can see this triangles usually appears during an upward trend and is regarded as a continuation pattern so this is really where the breakout occurs and Exactly what we saw here occurred here And that's why I highly recommend using these resources to your advantage guys as we can see very similar to RIP what we see this consolidation immediately afterwards due to bitcoins consolidation That's a occurring right now as we speak so obviously you guys know I like ripple and it's because of the team and primarily because it's in a niche market as well You're talking about banking over 70% of Transactions in Japan actually touch the ripple net so at the end of the day what I would say for litecoin is Being that Bitcoin has risen in price over this past year I feel like personally litecoin didn't see a lot of traction during that timeframe and because of that it's undervalue That's really the one reason.
I like light coin right now I think it's truly an undervalued Coin based on the amount of volume you see on a daily basis look if you look at light coin It's running two billion in volume versus iota at 1 billion right behind it So this is a perfect time to transition into iota chart for the last two video breaks guys I actually had somebody actually call me right now to disrupted the video, and then I got a text after that I don't like to have those sounds and stuff in my videos But Iona why do I like iota? I think Iona being a fourteen billion dollar market cap at two billion in circulating supply right now a lot less than ripple I can definitely see a potential for iota Like coin rip, why own a Bitcoin cash aetherium and Bitcoin are all very different coins I think I own a project definitely has a lot of potential and the team behind it Also has a very big vision for where it can go, and if we look at the chart here We see a very clear cup and handle forming right over here on this right hand side and pretty much what we saw here was A huge breakout as expected if you guys don't know what a cup and handle hood is this is the base of the cup? Right down here.
This is called the cup handle Initially you're gonna want to see this negative price breakout right before that and then you see this as our breakout point This actually lead 'add or led to this price break out if you guys go to your resource here And you look at a cup and handle you could have easily predicted this one I think we did this on a live stream actually because I did see the drawings before I made this video so the breakout occurs Right here, it's the exact same pattern here, so if you guys go on the discord This will really help you guys out, but other than that I hope you guys enjoyed this video guys if you guys need anything Just let me know. We're definitely gonna make more of these videos tonight tonight We'll do a live stream on what to do when Bitcoin drops suddenly And I'm gonna be making that video today so other than that guys Thank you so much for tuning in and that's it for today guys so snipers out