TA doesn't work

Ok, nobody denies patterns. It is the inability to predict the future that let's people who trade based on TA make mistakes

Unexpected events make it so that TA is basically worthless. Yes you can increase your stack, but it's all worthless if the your country suddenly decides to make crypto illegal, or war breaks out, or something else that heavily impacts the entire market

These unexpected variables are what Nassim Taleb calls "Black Swans". Because of our innability to grasp them, often traders are worse off than hodlers.

after the event occurs, TA is 100% accurate. Just like the weather. Crazy.

"The trend's your friend, until that nasty bend."
Tattoo this on wrists and have a pleasant week ahead.

I take it you're a billionaire then, OP? Even with a modest bank roll, it doesn't take very many good trades to get there.

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People who report the weather are far more often than not, correct.

it's literally just the same graph twice. one from the internet, and one from a textbook.

Oh look, a chart that, IN RETROSPECT, looks like what just happened. Where was that chart two or three weeks ago, before this happened?

Really, find me a single TAfag who was predicting six weeks ago that we'd go all the way to $7,500 by mid-May, or even after the stupid April Fools pump.

NOBODY foresaw that BTC would just cut all the way through the supposed "massive resistance" in the $6Ks within 48 hours like it was nothing. Anybody who believes in TA should have had that faith severely shaken by what just happened. Literally all predictions, whether bearish or bullish, were BTFO by this move.

"Unexpected events make it so that TA is basically worthless"

This.

In the stock market, there was no predicting the megadump that came between October and December last year, and fucking NOBODY but NOBODY was predicting that it would BOUNCE ALL THE WAY BACK TO ATH four months later. Every chartist faggot was screaming doom and gloom at Christmas.

Why did the move down and right back up happen? It was the Fed. They slowly let on over the last few months of the year that they were going to raise interest rates (causing the dump), then all of a sudden bizarrely turned 180 and walked their stance back (causing the re-pump).

TA didn't "play out." EVENTS happened.

Right now in crypto, this pump is happening for the same reason it always happens: because there's always a superpump, followed by a crash (hint: you are here), when exchanges have banking trouble and start in with their hypermanipulation bullshit.

Point is, TA can't possibly predict any of those kinds of moves (ie, the big ones) because TA assumes that the market exists in some kind of bubble of pure psychology, whereas real-world events take place that have enormous impact.

Fuck TA.

Does Bethlmeme Steal accept Bitcoin?

TA doesn't work with crypto.
A whale can fuck up a TA if they want.
A TA in crypto only works if a whale decides to make it a reality.

what happens next user?

>Why did the move down and right back up happen? It was the Fed. They slowly let on over the last few months of the year that they were going to raise interest rates (causing the dump), then all of a sudden bizarrely turned 180 and walked their stance back (causing the re-pump).
This just shows that the stock market is the most manipulated market in the history of mankind. It’s literally a small group of jews deciding in secret whether to pump or dump it.

Sad.

No use explaining this to literal brainlets. Human pattern recognition is something we rely on so heavily that we see correlations that are not really there. The phenomenon is called "pareidolia". Ever wonder why we see faces and objects in clouds?

A bunch of random walk lines is not an argument.

Refer to the fact that literally NO ONE posted this pattern until after it had already seemingly completed

Fully retarded. The OP is almost 6 weeks oldcat this point and with judicial use of margin you could get all kinds of gains. I doubled my position in about 6 days going x5.

Look at ETHUSD and XMRUSD. They are about to do the same thing.

When it comes to trading you are right, wrong, or early. Every thing else is hind sight. My position in SPXU was a technical trade when the SPX was at 2815. No stops were triggered vand so I expect I'll get in the money and stay there starting next week.

You are angry like you are losing money.

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Anything that damages your crypto safespace isn't an argument for you.

Bethlehem steel went bankrupt in 2003 and shares were worth 0 dollars
what could this mean?

In regards to your example, the reason why the dump in the stock market was halted isn’t because of the Fed. The plunge protection team acts to put measures in to stop panic and a mass sell-off.
The reason why the stock market is so fragile and reacts off the back of what Trump says in regards to trades/sanctions and whether the Fed halts or raises and hints at more QE, is because US stocks are overvalued. They got that way due to the last 10 years and trillions of global QE and needs QE infinitely more to sustain it.
FAANGs have a long way to drop when this thing finally blows.
The Fed has now painted themselves in corner and needs to keep a lid on inflation and raise rates but a return to ‘normal’ rates would cripple zombie debt companies and the real estate market.
The rest of the world is still in QE mode however, and soon the Fed will panic and start printing. That’s when the real fun begins.
Pro tip Gold/silver/miners will be your friends.

TA on the other hand has its place. Long term analysis requires the broader global economic environment as above, but TA provides short term direction in order to day trade.

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who cares, is BTC going up longterm or not?

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Not an argument. The reason why no crypto TA fags saw it coming is because they are all armatures who do not have the experience, knowledge, and wisdom to spot a naturally occurring market pattern. This proves 100% that TA does work and this movement actually follows the possible chart outcomes.

every single academic study has found zero evidence to backup technical patterns. They naturally occuring, meaning they occur in completely random sets of data points. Any examples of "succesful" case studies are just confirmation bias

Stupid nigger, stop going outside ur bunker because planes normally follow predictable routes but sometimes crash

Stock market price patterns can be replicated using a random walk approach, this is known.

Back to square one with your quantum woo financial analysis.

can't believe i waS banned for 3 days during this pump and kept watching retarsd debate like this. so many FUCKING new fags came from all the different boards on this channel and now you have reddit baseders coming in along with FRESH ACTUAL highschool zoomers dipping into cryptocurrency CURRENTLY. MORE DISCORD PAID GROUPS. MORE ICOS. MORE INSOLVENT BUSINESSES. MORE CRYPTO TWITTER REATS. dont worry you will all waste money zoon

Ding ding ding. Looking at this btc chart loling

You should know by now that academy is manipulated as shit. Slave of the slaves of the slavery.
The truth is that TA works because it kinda predicts human psychology

TA does work.

Retrospectively. Because you can draw whatever lines you want from past data.

Isn't IQ the ability to spot patterns quickly?
Pattern forms, you know TA, you can spot it if you are autistic enough.

>who cares, is BTC going up longterm or not?
Yes Rabbi. No matter what happens in the near term, an ETF will eventually be approved. Then we lambo

ITT: 75 IQ retards who didn't spot the fucking obvious 200 weekly MA reversal, missed out on the bottom and are now calling TA useless

Your anger fuels my joy.

admit that most of you are murican zoomers wanting to get rich quick.
guess what, 90% of you will die poor. :^)

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bumping redpill. dont gamble kids.

ya know, there is better way to spend money. dont gamble.