One of the top cryptocurrency posts on tradingview basically says this is a suckes rally due to the hidden bearish divergence that took down the last high in may and will take down this high as well. We have until September until the ETF comes out so there is plenty of time for this to go below $5,800.
Are bullfags screwed for the next couple of months?
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btc knows only one way, the way of the bull.
btc 100k eoy
hosanna sminem
how can the RSI be this over bought right now when we are just @ 8100?
it was like that when we were @10k so how come we are not at 10k?
Who cares about that shitcoin
learn how RSI works, dumbass
That is the point of hidden bearish divergence. The bulls are on viagra giving it all they can and they just cannot get the price up. When we come out of overbought conditions we are going to set a lower low. I think we will see full capituation when this uptrend fails.
You can make a lot of money shorting that shitcoin.
Alright, riddle me this. How can you differentiate between genuine overbought conditions and a true run? Because this is exactly how RSI etc looked when we went from 2k to 5k, etc., and ultimately to 19k. I’ve been here since 2013 and this is always how the chart looks before an actual rally and I want to know how you determine the difference.
Agree with OP, tomorrow we have confirmation, not gonna make a decision, btc is a hell of a bitch and can erupt in a second.
Like my penis.
I think they have almost a whole good month left ahead. Also hidden divergences have an abysmally low hitrate in my experience but I don't trade divergences.
Why is tomorrow confirmation?
>I’ve been here since 2013 and this is always how the chart looks before an actual rally
Chart that out fagget, this is a TA post. Post your TA of the bull market with hidden bearish divergence.
Nah, I don't think so. I firmly believe $5,800 was the bottom. At that price there was a mining squeeze for those mining at nearly break even profit margins. We seen the same thing happen in the gold market in 2012. We seen mining rigs sold at basically 50% what they had been only a few months prior. So much so that nVidia had a massive downtick in sales on GPU's from the massive crypto hardware dump. Very few people outside of enthusiasts and big players are mining anymore. That means that the oversupply was brained up at below manufacturing cost (I think it was somewhere around $8,000) average. We will see a slow move up from here, once market sentiment starts to go from bearish to neutral is when we will see the flood gates open. The thing people don't see is that we're down ~50-80% across the board. That's a major correction. SEC's decision will eventually be a homage to crypto credibility. In time the SEC will buckle over the pressure to legitimize larger scale exchanges. The amount of institutional money that will flood in from all forms of investment classes (think long term, high risk CD). Could easily drive the marketcap (mainly BTC) to the range of 1-2 Trillion dollars. Honestly, fuck everything else outside maybe 4-5 alts. You'll see a massive divergence between the valuable platforms and the shit. The future is bright. Maybe we hit $6,000 again in the short term, all that's certain is that we have about as much growth left in BTC as we've seen in the past. I'm no permabull, but I will say I wouldn't be shocked to see BTC @ $300,000+ by 2020. Lightning network will revitalize BTC's transaction negativity.
it's literally pumping right now
You think this rally will continue for a month?
This can play itself out out for a week, looking at the other highs, which have double tops.
>pumping
We are not even at 1% for the day.
Wont last 10 days.
Sorry for the confusion.
Monday will be confirmation, because weekend is over, hence more market activity
Im a QA fag and even i dont use RSI
that said, i could probably make it work if i wanted to. The key to correctly using ANY indicator is to make sure you are using the right parameters to generate a buy/sell signal
And what is your assessment? Does it differ from that of OP?
You can look it up yourself, you lazy fucktard.
Almost, but I've been wrong before. I added yesterday, for now long to 9200, TP 8700 stop at 7600. To me it looks like consolidation. And yesteday's dip lasted nothing, I don't see it as exhausted yet. Alts aren't rallying too well, that's the one sign that has me pretty concerned, that's not great.
You make the claim, you provide the evidence. I am not looking for heidegger's teapot
The ETF will most likely happen sometimes later this year. In the meantime, we'll see another new low, before finally going up significantly.
I dont make assessments, mostly because i specialize in HFT. I figure BTC will go up, but it doesnr make a difference to me so long as its moving
Exactly, everyone went 0-100 bearish with the winkletoss ETF failure. That's lasted for a hot second, then we bounced right back. This is not traditional bearish behavior. I have a hunch on this one.
Also, the fact that alts are basically dead in the water right now, is a sign of more pain to come for BTC.
The evidence is in the chart, therefore you have the source where you can confirm his (who was IDs) claim, so your counterpoint is disingenuous at best.
>bull market with hidden bearish divergence
it looks right the opposite of that to me. we are in a bear market that just ended.
thanks for the buy signal OP. it is when niggers like you who think they know TA post shit on biz is when i feel most comfy buying.
>Are bullfags screwed for the next couple of months?
Everyone is screwed. The whale niggers see these types of TAs and take advantage of it. Every time the niggers on Trading view post their bullish TAs that's when whales short. When everyone is bearish, that's when whales PUMP. Sorry OP but you gave another reason to whales to pump the price. They are lurking this thread right now. Do the opposite of what your TA says.
can someone explain pic related or give some context ?
>salty nocoiners that missed the bottom but still want in
LMAO
MEME
LINES
It's a whale contacting a famous TAfag for his methods. Whales contact TAfags to find sweet spots on where to BART. This so they can take advantage of the self filling prophecies that happen with TA. Just as MACD is about to make a crossover at overbought levels, these motherfuckers cause a bart because they know everyone is looking at the same chart. When the charts form a reverse wedge, they do the opposite and PUMP. The charts from April 2018 and past aren't as jewed as they are now because now everyone is leveraging and shorting at higher leverage. I've been doing the opposite of what the general TA opinion is and have been profitable. Fuck whales
>when bog isn’t just an ironic joke but rather an understanding of the collective consciousness of countless high IQ individuals, a meme if you will, expressed through humor
Why wouldn’t they just look st the public stats on margin positions? There’s no need for this LARP to accomplish the same thing
>Why wouldn’t they just look st the public stats on margin positions?
Who do you see these stats?
hey moron. just because we're going up doesn't mean we're out of the bear market.
we're not out of the bear market until we hit higher than the previous high.
So if we hit 10k that’s your line in the sand?
Well you can't draw anymore downtrend lines if if does. So yeah. I think we're heading up further as long as we stay above 7500. Don't know where it'll stop, but if etf passes all the ta in the world doesn't matter.
yes, because each high has been lower ever since the crash.
what happens next is all down to the ETF decision in August (couple of weeks) - if it gets approved, we're definitely going $13k and out of the bear market; but if it doesn't, then see you at $3k.
Bottom is in, don't miss it.
I'm not sure if this is what you are asking for but take a look
datamish.com
The long/short ratio especially.
Why do you care about the ETF? That’s been a carrot on a stick for ages.
the bottom is $2k
Have fun waiting for that. You're actually delusional if you think it's possible to go that low.
Can anyone answer me this: Isn't using rsi on daily candles over such a long period of time relatively inaccurate? Wouldn't the weekly be better for something spanning 6 months?
Well i don't think it will be this time, it's a what if.
I don't think we have reached capitulation according to the bubble meme chart, this whole crash everybody was like "oh it will go back up better buy more while it's cheap" maybe some normies panic sold and got BTFO but it seems the majority has been optimistic the whole time, we have yet to see true bloodbath I think we need to go down into the 3k range first
Do you really believe that this is the bottom? Personally, can I see the bottom following out, with many 100M+ alts dying completely and Bitcoin retracing to 5k or even 3.5k.
It's an example, it's not going to follow it exactly.
Kaz is a bit of a huge fucking liar and a criminal, careful with him.
5k could be the bottom if we hold the blue line, if we go past that then we can fall to 2k which is probably the ultimate bottom
Keep in mind bitcoin is MUCH more volatile than regular stocks/markets, and if we care the current crash to other real life examples then it's possible we can fall MUCH lower
>No RSI, No MACD, no other indicator
>Thinks this proves anything about divergence, hidden or otherwise.
Gradually I began to hate you.
Ask me if I care
This is one of the few guys calling for a lower bottom. He is betting against the trend.
Interesting, I follow all the bitmex guys on twitter and they are all extremely arrogant and gloat about taking money from other traders, actual professional traders are more humble and respect the market
Plot twist: there will never be a 2017-tier bull run. We're gonna slowly descend to 1k and stay below 5k for the next 2-3 years. You can still make money in this market, but forget about 20k.
agreed, only the approval of the ETF's would prevent this ... unless china magically lift the bitcoin ban.