/biz/ - Business & Finance

>>56940911
That's the 4H. This is an earlier pic, 1D timeframe, posted here: >>/biz/thread/56872594#p56872846 and here: >>/biz/thread/56872588#p56873328

>>56940921
>t. longed at 44k
RIP

>>56872588
There's nothing fake about the BTC chart. Stop crying. If you have a problem with the chart, then you have a problem with the market itself as the chart looks the way it does due to how the market has traded BTC; Bitcoin's price action, its candles, how they look, is a direct result of how the market has traded BTC. And the market does NOT care about your opinions or feelings.

Here's the current market situation. BTC is currently traded within this little wedge, which is inside the HUGE Rising Wedge which we recently had an educational thread about: https://archived.moe/biz/thread/56831656

BTC broke out a tiny bit above the Rising Wedge, an inherently bearish structure, and when such a breakout occurs above a Rising Wedge it's almost always a fakeout meaning the price dumps back into the wedge. Proper breakouts above Rising Wedges do occur, it's just exceptionally rare. The crabbing we're seeing now is possibly confirmation of this being a fakeout.

Interesting BTC stopped pumping, or slowed down significantly, for now at least, at the top of this tiny little wedge. If BTC crawls along right under the roof of this small wedge then by next week it will be 44k which is roughly where the main resistance is (the support from 2013 that failed in 2022 and since has been traded as resistance).

If BTC breaks out above this tiny wedge then it seems less likely this is a fakeout. Especially if it goes to 45k or so, to above the resistance and the market begins trading it as support again.

>>56872594
It's just a little wedge, within the HUGE Rising Wedge which we recently had an educational thread about: https://archived.moe/biz/thread/56831656

BTC broke out a tiny bit above the Rising Wedge, an inherently bearish structure, and when such a breakout occurs above a Rising Wedge it's almost always a fakeout meaning the price dumps back into the wedge. Proper breakouts above Rising Wedges do occur, it's just exceptionally rare. The crabbing we're seeing now is possibly confirmation of this being a fakeout.

Interesting BTC stopped pumping, or slowed down significantly, for now at least, at the top of this tiny little wedge. If BTC crawls along right under the roof of this small wedge then by next week it will be 44k which is roughly where the main resistance is (the support from 2013 that failed in 2022 and since has been traded as resistance).

If BTC breaks out above this tiny wedge then it seems less likely this is a fakeout. Especially if it goes to 45k or so, to above the resistance and the market begins trading it as support again.