You guys will (I know this) bash me for "TA is bullshit" and whatnot, so I just made some rough lines. The point is however, that we are - no matter how you "draw line" or analyse the chart - very close to a tipping point for BTC. Where will we go next? Resistance at 6k had held several times and I think its safe to say that we'll probably not go below 6k. But im at Jow Forums what do I know
You guys will (I know this) bash me for "TA is bullshit" and whatnot, so I just made some rough lines...
John Reed
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Camden Myers
megadump incoming
Bentley Miller
keep adjusting those lines nigga until you got it right. you can redraw it tomorrow.
Jordan Mitchell
megapump incoming
Austin Bell
Where will we go next?
Gabriel Thompson
Megaqumb incoming
Mason Peterson
There won't be a "happening" it will continue to move sideways and slowly taper down as volume continues to decrease. It's over you missed your chance last year
Nicholas Garcia
Aaron Gray
My bets are on inverse bart
Caleb Davis
Worst TA I’ve ever seen
Oliver Reed
>It's over you missed your chance last year
yeah it's like not even 1% adopted bitcoin globally there is no potential for demand to grow anywhere right? right. fucking retards man...
Joshua Nguyen
Why are you hiding 100 day weekly ma?
Brayden Watson
sideways
>200 week MA
wew, try again
Zachary Powell
Close. This shit is crashing hard, though. Inverse marge down low, maybe even to 2k, before spiking back up to who knows how high.
Jordan Peterson
Small fake breakout and quick dump to $4.8k in december.
Dominic Stewart
The upper trend from december can be simulated better with a exp(-a(x-b))+c IMO.
Parker Cook
Elijah Brooks
btc-eur goes up btc-usd goes down how the fuck are people blind? and why can't i arbitrage this?
Austin Gonzalez
Billinger bands are tightening and volume is decreasing even though our triangle is nearing the end of its cycle.
Nathan Russell
This
Xavier Myers
$6.2 will be the bottom maybe won't even go that low
buy the dip!
Carson Cooper
Interesting results from the Fundstrat survey on the current state of Crypto.
Survey Says: Institutions are bullish and that likely Bitcoin bottom is in. Remarkably that Institutions are more bullish than the crowd.
Here are some important facts:
Fact 1: Smart Money doesn't share honest opinions or strategy when it comes to the market.
Fact 2: The majority is always wrong.
Actually the poll results say that Bitcoin falls in a recession & that BTCUSD will not bottom soon.
Don't allow this survey to cloud your judgment.
Daniel Perry
The Bollinger Bands are starting to contract. Also notice how on this entire bear run we got rejected by the middle of the Bollinger Bands several times and now we might be rejecting without even making it into the moving average.
On the weekly timeframe we still have a descending triangle. Such ones usually get broken to the downside (70% probability) rather than to the upside. The outcome of the triangle is very nasty.
Bouncing off the 6k for so many times is not bullish. People get comfortable with the 6500 price of Bitcoin and eventually they just sell because they start to get nervous that it’s creeping lower & lower.
Can we go up? Everything can happen but statistically speaking this is going to break down. We can go up as high as 7k and even a bit higher, but the outlook is still bearish.
In order to turn bullish mid term, we need weekly closing above previous swing high of 7450.
Notice how the volatility has slowed down. A big move is very likely near.
BTC doesn't have long to choose it's path. Stay cautious, guys, especially this week.
Mason Russell
In the likely event of a bearish outcome my buy range is displayed between the green lines of the chart.
Jaxon Robinson
ok
Gavin Nelson
Your pic is the opposite of what you're saying?
Nolan Evans
>bitcoin has practical use
Jacob Powell
There are two likely scenarios in my opinion:
1) Moon to at least 10k, making some higher highs. This still doesn't mean that the bear market is over.
2) Dump to something like 3k, in this case we'll see capitulation and some real buying opportunities.
I'm short rn, because of bias, but I'll play a breakout play in both directions (buy above 6850, sell sub 6k).
Hudson Nelson
why does nobody ever consider the possibility that maybe we're starting to reach the equillibrium market price, and as bitcoin and cryptocurrencies further gain adoption, they're no longer being used as speculative currencies with high volatility, rather that trusted source of wealth which wont change?
Like everyone shills BTC as a store of wealth, but how is it a store of wealth if the price fluctuates so much like you guys hope?
Face it, its over. ETF approval incoming will solidify the price
Caleb Russell
It would be the biggest drop in BTC history...
Bentley Ward
Yes OP that is a triangle.
Grayson Cook
You idiots have been saying 3k since January. It's not going to happen
Benjamin Wood
What will he do next?
Evan Edwards
20k to 3k (-85%) would be about as big as the 2014 bear market, that was from 1150 to 150 (-87%).
Luis Perez
But that crash was due to Mt. Gox. Crypto has had a lot of good news 2018 and basically 0 "x crypto got banned in y country" news. Really makes you think.
Nicholas Sullivan
majority said it would never fall back below 12k, then 10k, then 8k, then 7k, then 6k, every time it has fallen lower.
Realistically who's buying right now? Who has confidence in this market (or this technology)? literally no one besides those trying to extract dollars from the less educated.
We WILL see 3-4k again, it's just a matter of when. Then we'll see 1-2k again, and finally we'll see $200-$500 again. That might be the floor.
Isaiah Sullivan
>We WILL see 3-4k again, it's just a matter of when. Then we'll see 1-2k again, and finally we'll see $200-$500 again. That might be the floor.
See you in year 2100 then when BTC mining ends. We might see those numbers at that point if the dollar still exists.
Brody Gutierrez
smart people are buying now.Should they have bought at 20k?lol
James Kelly
>We WILL see 3-4k again, it's just a matter of when. Then we'll see 1-2k again, and finally we'll see $200-$500 again. That might be the floor.
You're crazy. Stop being crazy.
Robert Lewis
Hope so
Then I can start stacking up
Liam Campbell
most decent TA people said they expect it to go to 4-6k back in january
Ian Walker
i wanna see yours and everyone else's degree in economics. none of you fags know shit about shit.
Benjamin Reyes
In todays world, a degree means absolutely fucking nothing.
Luis Williams
These threads have been utterly entertaining for the past 8 months
Sebastian Morgan
This is actually the most accurate outcome I've seen yet. Not sure about 3k range but we'll be in the 4k range by eoy.
Juan Cook
Connor Wright
For brainlets
Dylan Watson
It truly is a 50/50 split on what will happen after the triangle closes, a lot of people will lose money and we will see many wojacks in the coming weeks.
Joseph Baker
You're missing 2 years of data.
Sebastian Russell
TA is useless. You guys are idiots.
Grayson Smith
The incoming crash will destroy crypto. If you don't heed my warning then you all deserve to be homeless.
Ethan Stewart
Thanks man - just sold all. Whew, was it close!
Charles Smith
Hmmm a chart with consecutive lower lows.
Samuel Stewart
>We WILL see 3-4k again, it's just a matter of when. Then we'll see 1-2k again, and finally we'll see $200-$500 again. That might be the floor.
Liam Brown
>the triangle broke?
>oh well i'll just draw a new one
Jordan Thomas
qump is sideways?
megapump
megadump
megabump
megaqump
pbqd
Jackson Cox
Why a no one on biz know the difference between resistance and support? I don’t even do TA and I know.
Henry Bell
no way bruh, the reversal's only possible once we hit $0 for at least a few hours. Got my reverse-buys feathered in down to $100 though since I could see it wicking that low in the final flash crash. Can't wait to get paid money to take bitcoin off peoples' hands.
Landon Ward
Nope