Where will we go next

Yep. They're trading alts to accumulate more eth/btc. Always been the end goal.

Back to paint to draw new lines to create the wedge you want?

>where will we go next

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Fixed yo TA
Readjusting for VOLUME

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can any non brainlet tell me why he drew the lines like that? couldnt he have just as easily drew them like pic related? is TA really a meme?

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absolute TA.

WRONG
t. idk

Down to 3-4k and then back up. Bitcoin is not done correcting.

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Because this is Jow Forums. Expecting OP to have more than 2 digits IQ is retarded. Also no, you could not. You need 3 points of contact to draw a line.

He's not me, pic related's the original wedge and they're zoomed out from 1 year ago. I'm not gonna become a tripfag over Wedges Everywhere Theory, but the immitators can't copy my original style anyway

WET is about ubermacro analysis and spotting an overall pattern, not predicting daily price variations

If you wanna try wedge theory yourself, zoom out completely and only use the satoshi prices of the coin you want to check

Attached: WET-btc.png (703x702, 59K)

seems legit

There, fixed. Ignore the fake out.

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These are fake wedge lines created by a program. I (original wedgebro) create the lines without taking into consideration the extreme tops and lows, which are fucking fake anyway.

I also don't consider just recent supports and ceilings but try to capture the whole coin/token in the wedge.

Attached: WET-XMR.png (1437x810, 78K)

$1,000,000 usd an 2019

>>where will we go next
WOW epic head and shoulders pattern on your chart!!

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massive dildo coming. rip altcoins.

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>Removing the wick down to 6k on the left "shoulder" to make it look better

The absolute state of bullfags

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Terrible line quality with too little hardness

For jpgs to read correctly you need upwards of 80% brush hardness

For your WET plot to be correct, you need to zoom out and take the whole last year into consideration

Here's my most definitive proof that WET is a thing: I expect EOS to crash and burn for two months straight

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"No One Can Explain How Cryptocurrencies Work"
kek, this guy needs to do his own research.

there it goes. So according to that btc is going to 9k? Also you used a bottom to start drawing the top line. You couldnt have joined 3 otherwise, is that why? are there no rules for this shit?

The Wedge that started WET (Wedges Everywhere Theory)

REQ and LINK wedges meet in mid to end of June. This leads me to believe that mid June GDAX will list both REQ and LINK and this was KNOWN from almost half a year ago.

Tight wedges indicate smaller variations in price, which is apparently a prerequisite for a coinbase/gdax listing

Attached: REQLINKendofJUNE.png (1385x1332, 190K)

how can you TA alts when their value depends so much on btc movements? you'd need to take btc in consideration too with your TA which is not possible

It's not meant to be TA, I drew random lines like everyone else. That anyone would take meme lines seriously when a few people control the entire market is what I find ridiculous.

You have no idea what you're talking about, a reversal often coincides with a bottom in price and volume. In fact one of the most aggressive sell signals is a huge jump in volume that occurs right before the dump. The low volume with a stable price suggests almost every weak hand has been shaken out and only people who aren't afraid of losing money are still in this market.

Just think about it logically: a LOT of people bought above 15k, they will DUMP as soon as BTC even approaches 12k because they desperately want out of this market. So the price keeps dropping as smart money waits for these idiots to leave, eventually the price stabilises at a point where if it goes any lower smart money buys up, but no one is pumping so volume keeps dropping off. One by one these bagholders loses hope and sells into the smart buyers. Eventually as the volume and price movement is low and stable all of these people are squeezed out and the next bull run begins.

t. 12 years experience in trading, 6 years trading crypto.

that's no way to draw a falling wedge OP, you only have 1 point of reference for the top whilst clearly you include another 2 points (11.6k) that are just floating inside this little triangle. Try drawing the line from our last top to 11.6k and then draw it on, you will get a 3th (4th if you include doubletop as 2 points) of reference and it will make a lot more sense.

you can TA anything as many people using TA it becomes a self fulfilling prophecy w/ alts as most alts price action is made by active traders, hodlers just along for the ride

REQ will moon after coinbase listing next week

I bought a 1 dollar and i waiting for this since january. WE MADE IT BOIS

I only plot them on satoshi value. I do this because if a coin is worth more (according to insiders and whales) it would still gain in sats.

Even with massive amounts of manipulation, there are still some obvious accumulation periods with loads of volume on minimum price action

Also, if BTC prices where the only indicators, all the wedges would be the same.

If you plot your own wedges based on my guidelines (zoom completely out and use just two lines without taking the overtly fake peaks into consideration) you'll notice that not all coins and tokens have the same wedge.

As a matter of fact, I kinda became a believer in Cardano after plotting its wedge yesterday. It looks prime for GDAX

compare it to the EOS wedge (both are platforms and not just altcoins) you'll see which one is a pnd from whales and which one the whales are keeping on a tight range

The wedge is practically of the same steepness as LINK and REQ

Attached: wedgetheory-ADA.png (1419x781, 84K)

Are there any other signs you look for to find bottoms?

bottoms are harder to spot than confirmed breakouts, both can never be fully trusted in crypto though

actually TA will likely give you a few scenario's, the price action will determine which scenario is validated then. BTC doesn't like H&S's but many people do trade them on Bitcoin and they get burned, but everyone saw them. So how is it a selfulfilling prophecy exactly? You seem to not really know what TA is or how it even works.

What do you think about my wedge theory? Please have a look at my posts and see if they make sense, it just looks too weird that LINK and REQ wedges have the exact same shape that fit the whole lifespan of the projects

Me channel line becomes much more visible using OBV

Good stuff XD

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Low volume and stable price with a StochRSI

I only know TA at a very very novice level, but I have used it (w/ a combination of FA) when making swing trades w/ alts and have a very high success rate, so I'll continue to do my thing and learn as much as I can as I go (I learn something new almost every trade)

interesting read, thanks

This is terrible! Could somebody please find OmegaMaker, get hold of this motherfucker so I can make sense of all this. Where is Omega?

Cool, I used to do that aswell, look into Elliot Wave principles (the theory), if you haven't yet guarranteed you will get something out of it.

I agree, but should also mention the overall market sometimes with bottoms as a coin that appears to be completely bottomed out can sometimes see the floor fall out from under it if btc starts shitting the bed and more and more exit a position

thanks, your TA ignoring mega tops and bottoms makes more sense

You only need the basic understanding of elliot wave theory to understand the fundamentals theory, no need to technically apply it (though it's worth learning)

I am actually convinced that mega tops and bottoms, as you call them, are the way whales obfuscate their moves from traditional TAfags

but the biggest drops in price are high volume, shouldnt they be buying then?

I think you'd like Wyckoff theory if you think that.

No thats catching a falling knife, buying opportunities present themselves with multiple confirmations from different indicators and so forth. No need to rush anything ever.

If the price drops really quick, then people buying those could easily get trapped and start a ''panic-sell'' meaning you'd be fucked buying into that.

Biggest drops =/= bottom. The biggest drop for BTC was from 20k to 15k at extremely high volume. Smart investors aren't super geniuses who trade every minute and can predict the future (they aren't Bogs), they try to 'discover' good prices and hold those prices until they find the market overinflated.

The most effective way is to buy when volume has bottomed out (as long as you believe the asset has a future, so isn't bitconnect), and sell when the volume looks like it's topping out.

So, predictions for next bull run?

Fucking this. Only when most people have capitulated and the HODL culture breaks, will the market return to bull.

Someone once told me that smart people never make predictions, which is fair but since this is an anonymous board and their are no reputation consequences for being wrong, if you put a gone to my head this is what I'd predict.

I could be very wrong, and obviously my lines are more symbolic than literal, as in I try to predict shape, not extent of each top and bottom. It looks extremely 'optimistic' at the end, but then I don't think any of us would really be in bitcoin right now if we didn't believe another ATH could be achieved. So there you have it.

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There another way break too:

Enough traders start eating away smart money / whales market share of BTC

So we’ll be trading sideways until essentially another catalyst comes along it looks like. Who knows when that will be? (Summer, holidays 2018)?

Also, last summer the catalyst was “wait til the normies come”. They came and went. The next meme is the institutions. What’s your take on that? Is it a meme and when do you think that supposed rush of money is coming?

Good info btw

Great explanation user will they who control the market significantly drop the price even more to keep shaking or is it a decent time to put fiat in we seem to be at a relatively stable BTC price for a couple weeks which is 3 months in stock time.

Normies will fomo in next major bull run though, except the ones that got majorly burned buying the top last time

I don't think they can drop the price further, that's my point. Remember there is an economic cost to dropping price, imagine you theoretically dump using 10MM USD, right in order for that to be economically favourable, you then need the pump to EXCEED your initial cost of 10MM. This is why when you dump you need to KNOW you can shake out significantly more people, and then when you pump you need to know that the price won't recover too quickly.

This is why pump and dumps are difficult and coordinated, I need to spend 1MM to drop the price by 6%, but then I need to buy enough that if it recovers I make that money back, so there's TWO risks, failure to repump, and then failure to trigger a pump. This is why pump and dumps are a lot more subtle than described by inexperienced anons, most pump and dumps on a large cap asset like bitcoin take place over months and months and they're more like bleed outs. The drop in volume is the biggest indicator that dumping further won't do anything. See if the volume is this low that means that yes it's easier to dump the price, but I need others to dump it further after that. So even if someone dropped the price of BTC to 7k right now, they'd need OTHER people to be selling at 7k to drop the price even further, and we on the outside have no way of knowing how much of the drop was them spending their money and how much was people holding up until that point.

Right now this volume indicates that it's very likely the market manipulators have realised no one else is dumping and have decided that any dump now would be sunken money. I believe we are halfway between a huge 'cup' so this is the low volume bottom, that means the next top will likely be as far from now as the last top, which conveniently puts us at exactly december (look at the curve in my pic, its essentially six months to the bottom of a perfect cup thats 1 year long, almost by design). Then a handle for 3 months where we dip to 15k, then ATH after.

no they will get burned a second time, guarranteed.

wow, have you actually written any of this market psychology down? i'd be really interested in reading it (and paying for it). It's hard to come by proper information on FA and TA.

Do you have a Twitter I can follow?

I-I want to believe

This is exactly what I want to hear. Which ofc means its bullshit

was thinking the same shit that's always how is I think because it's very logical and not much theoretical underpinnings that makes me want to believe

No, maybe I should start one. Gonna tripcode this post for now in case people would be interested in a longer analysis tmrw when I'm not sleepy.

I threw this pic together in photoshop to better highlight what I meant. Ignore the rorschach-y symmetry it's more to highlight how perfect this looks. Almost as if they've been 'painting' this the whole time. Just ask yourself if you saw this chart in a years time, would you think 'oh man it was so obvious!' whether you want to believe this is the inherent nature of certain functions and shapes representing human behaviour on large enough timescales, or whether you believe its because of conspiring market movers who paint these charts to cause ever increasing FOMO, to make you feel like the market behaves so predictably on some timescales but so irrationally and terrifyingly on shorter ones, I don't know, that's down to your personal biases. I believe it's a bit of both, yes cognitive biases and patterns exist, but certainly people exploit and exaggerate these.

Regardless I believe this low volume is essentially the hallmark of the bottom of the cup, then we'll be coming back to near ATH in december leading to a double fake out as normies tell themselves 'this time I'll cash out early' then end up FOMOing even harder when the price doesn't crash. You could argue this is a self fulfilling prophecy, as Soros calls it 'reflexivity' where the lack of a crash makes people think 'this time it IS different' and they FOMO in harder, creating the ATH at the end of the handle.

I like to think of this like a playbook, humans have certain biases and fears that can be 'set up' into position with minimal manipulation, and then triggered. Market makers can't just arbitrarily pump and dump, it wouldn't be efficient, statistically their expected profit would be negative over time. Instead they are like the first domino, they set up the pieces and then trigger the crowd.

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See everyone looks at past charts, that means we all experience similar biases and fears. Even the Bog memes indicate that the general experience for 99% of people in trading is similar, just like most people all share primal phobias due to prior experiences as a society, so to do most traders develop fears and experiences. It's evolution, we *hate* repeating past mistakes. This makes us very cautious when patterns start to repeat, and then very reckless when those patterns don't play out.

This is what makes 'fakeouts' so effective, first you paint the bull flag, then it fakes out, so you short, then it WAS a bull flag all along and you're double JUST'd. This isn't just coincidence, I think people used to argue it was just hindsight colouring our worst experiences, but lately the barting has almost PROVEN the extent of manipulation. The way you'd have three consistent barts then a fakeout bart etc. So there's a playbook of patterns, you set one up, fake out, then set up a fake out, play it out predictably etc. This is why patterns repeat, but the EXTENT the pattern 'plays' out varies. Sometimes its 50% of the pattern and then sudden shift, sometimes 90% and then sometimes 100%.

This is why you can't be too reflexive as a trader because you WILL get eaten. This is also why on the one hand I don't believe that we're going to follow the MtGox pattern all the way, we've followed it closely, but now I think it's building to a huge cup and handle. Then after the cup and handle they'll just recycle some other pattern.

Or it could all be fractals, I'm just a guy, I don't know. But I stand by my statement that low volume isn't a bad sign in this market.

2021.

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Fucked up the tripcode.

Thanks Bro! Very informative. Good to have time to time someone like u.

>low volume isn't a bad sign
I'm not sure why people always say that low volume is bad, from what I remeber and learned in economics, high volume usually means a top has reached as the majority of people are top buyers and not bottom buyers. The low volume usually indicates a lack of interest and a bottom, even if you look at the chart on BTC you can see that the bottoms have significantly lower volume than the tops and I made some really good trades using this principle.

Maybe you know the ''liquidity trap'' it's essentially people buying the top, volume dissapearing and they get trapped, they start panic selling instigating a rush down, smart money doesn't buy but waits for it to bottom out, so the low volume bottoms are where you want to get in on a trade.

Thanks mate I'm learning everyday sucking up TA knowledge like a sponge. But this experience and analysis of smart money has just helped me immensely .

Are you on a discord or anything?

Up, we are fucking going up you idiot.

I like this. Tell us more.

Brilliant analyses lad, I enjoyed reading that and honestly it made me super bullish. Gonna keep slowly accumulating BTC during this lull while I still can.

I just dont see people selling below 6k

Looking at the daily on BTC I noticed the highest BTC days were on the bottoms though? Do I need to be looking at smaller time frames to spot low volume?

Volume days* Sorry half asleep!

Because you're looking at individual days with a sharp drop off because the previous day was a huge pump. These are outliers because they're a consequence of the crash. You need to look at sustained low volume, several days of it, along with looking at other indicators too (StochRSI etc) to get a holistic picture.

Plus recall that it's important to consider trend. Flatlining volume during an uptrend is NOT an indicator for a bottom, you need to be looking for reversals. So a down trend that then turned into an uptrend. So you need to go back a few years since we're now IN a downtrend, and before that was an uptrend. You're looking for the last downtrend reversal. So after MtGox.

hm I just look at CMC, you can see for example that 11.6k had about 6-7billion volume and our bottom at 6k had about 3-4 billion volume.

You should start a Twitter or telegram very helpful advice which is rare in the shit hole of the internet

>No One Can Explain How Cryptocurrencies Work
So this is the state of economists.

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We went up, we went down, we wnt sideways. Who the fuck know m8. Crypto is violated af

Read all your posts, thanks for this. You should make a twitter or something.

Whales also dont want to take chance now. Big investment money is comin in any time. Family funds is already in. Its the calmness before the storm.

Into a bigger falling wedge. Its never really going to pump

shhhhhhhhhhhhhh

>no news
dude we just had consensus and MSM saying BTC could hit 50k. There has been nothing but good news apart from the May 7th FUD and we still dropped. I want to believe but it seems itll be a while before we hit ATH again

people lose all their money gambling and come back for more, they'll be back

>charting in paint on cmc

Holy fuck my autism is triggered

because its line graph it must be CMC? did you even look the picture..last time I checked cmc dont look like that, also this is a 5 sec 'charting' meant more to start a conversation

wow this is impressive

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