/biz/ - Business & Finance

>>11816351
What do your meme lines tell us then?

>>11816351
2K incoming
https://www.ccn.com/bitcoin-price-bitmex-ceo-doubles-down-on-bear-call-says-btc-could-fall-to-2000/

>>11816351
it will stabilize

I think it means the trend changed so now we must wait for the reset to use it again

>>11816365
>He unironically listens to niggers

stay poor

>>11816351
Habedin

weekly still has a long way to drop though

>g-go up pls

What if we just moon downward back to worthlessness?

>>11816351
Most oversold week faggot

>>11816365
>cnn saying it will crash
this is a buy signal

>if it goes down, it must go up
If you drop a rock from the top of the World Trade Center, do you think it will bounce into the stratosphere?

what about when it flash crashed to a penny?

RSI can go all the way down to zero

>>11816430

>>11816463
Not CNN, ccn

As other anons have pointed out, yes the weekly still has a way to go. As reference, the last time the weekly RSI was this low, was in September 2014, and it took 3 months for the absolute bottom to be reached, which was another 58% decrease.

On this low day, the RSI was also one of the lowest it has ever been. After this RSI low, the price had a dead cat of almost 20% followed by its ultimate decline of 58%, which ended at the historic weekly RSI low

What does this mean? I don't know, wait for the dead cat tomorrow or the day after and try to catch the top, or just hold on and pray to kek

>>11816469
Physics doesn't necessarily apply to markets though, the rock wouldn't gain energy, but assets and commodities can easily gain energy from buying pressure.

>>11816620
thanks for the post, I'm definitely going to tether up a bit on a bounce heh... fuck

>>11816365
is the free willy whale this guy?

>>11816676
>implying Tether won't fail with $5b tethered a day.

Going to 1800$ confirmed

>>11816676
>surely tether is safe

I literally hear some dude outside yelling 'oh my god' every few minutes. Is this it? Are we there?

>>11816351

rsi doesn't work in crypto

>>11817038
>Implying it works with any kind of trading. People who use these indicators never back test them. They use them on faith alone.

Of course its oversold. It's dying. Oversold is a good thing, when an asset isn't fucking falling of a cliff.

>>11817063

macd is pretty good, but here in biz they see 1 minute charts so they will never make it

>>11816351
you bitches kept telling that since 10K lmao
look at the volume around 6K a few month ago it was the largest spike, the dead cat. it is going down. further down. back 1K or lower

>>11817162
Yep. And they jerk off making statements about "bulls and bears" like they have a clue what drives what's left of the market.

This is a consistent, orderly run for the exit. No clue why, but a LOT of money is leaving bitcoin right now.

>>11816351
yes it does feel like the market is collectively vomiting. purging itself. delicious sir

>>11816991
He was watching the Rams vs. Chiefs game. Normies don’t crypto

>he doesn’t know that RSI can go up but prices continue to fall down.

>that bot on GDAX that keeps selling groups of 1.0 BTC rapid fire

Maybe we really are on the bottom. Buy now.

>>11817344

>>11817344
"what is slippage and how can I avoid it"

Hey folks, mean reversion trader here. Usually I just stick to the mean reversions on the smaller timeframes, though there's a great play coming up here shortly. Every time the 200 period has had an active price mass reading above the 0.9 value on the 4h chart in the last year, price reverted to the center of the data for the relative longest over expanded period. In this instance, that is currently the 500 MA.

"Oversold" isn't a useful metric. There's only trending and not trending, or the "expansion and compression" of distributions.

If you're rolling a snowball up a hill, it slowly gathers snow on it the further you push it. The more you push it in the same direction, the more mass the snowball accumulate (and the more force is required to continue pushing it.)

The snowball has never had this much mass, this year. So if a snowball starts rolling down the hill and has excessive mass, when it rolls back towards the base (the center of data, the mean,) it will rapidly accelerate.

This is typically known as a dead cat bounce, where the distribution sheds it mass so the snowball can once again be pushed up the hill without requiring excessive force. Again, center of data for the distributional mass is the 500 MA on the 4h chart, which at this current time is 6400 dollars.

As soon as bitcoin begins to move back up, that's what your target should be.

Happy trading everyone, make sure you don't panic sell the bottom.

>>11817645
based ta anon. even if this is a larp, it's nice to get some respite from this slaughter.

>>11817277
>Normies don’t crypto
More proof we're still early as fuck

>>11816351
>dentacoin still has mcap
>thinks memelines mean anything

>>11817645
The long term target is still the weekly 200 MA. On the macro perspective, the weekly distribution has been compressing and needs to return to the center of data before a new bullrun can begin on btc.

The long term target for btc is still 3800 dollars. You should not expect "moon lambo" until price stabilizes on this institutional benchmark.

>>11817645
Why is this the mean? Are you anticipating that we are going much lower because it's a dead cat bounce?

>>11817760
Distributional mass is relative to each timeframe. A mean reversion on the 4h chart (which is the bounce we are expecting now) isn't as meaningful as the mean reversion as defined on the longer timeframe, the weekly chart, which has been the target as soon as last year's bullrun ended and the weekly distribution started compressing.

And for clarification, a distribution is just a bellcurve.

>>11817792
So you're saying we will be a bounce and go lower? Sorry I'm a brainlet

>>11817813
https://www.tradingview.com/x/qTiZDtGT/

>>11816351
is it finally time for me to buy???

>>11817908
You shouldn't buy until the 200 Weekly MA has been hit.
>>11817904
woops, didn't embed the image

>>11817924
You can buy bitcoin now if you intend to make a short term play to the low 6,000's, or you can wait until btc hits the 200 weekly MA before buying for a long term hold position.

Happy trading!

>>11817924
Which is what? $3800?

RSI is meant for divergence not about how “oversold” something you fucking retards. It can steadily keep selling all the way to 1. TA doesn’t care about how “oversold” or “overbought” something is.

Rsi is a meme.

This is over. Normies will never buy brc again

YOU FUCKING DELUDED BULL ITS OVER, GET IT THROUGH YOUR DAMN HEAD. THERE ARE WHALES WITH LITERALLY HUNDREDS OF THOUSANDS OF BITCOIN AND ARE STILL UP 1000S OF % THAT ARE MARKET SELLING US DOWN TO THE HUNDREDS. YOU STAND NO CHANGE WITH YOUR MEME LINES IN THIS MARKET FOR WHALES AND OGS.

>>11817983
>btc hits the 200 weekly MA before buying for a long term hold position.

Which is?

$3000?

>>11816351
>oversold
>bitcoin
think again anon, everything above 250,- is overbought since last year.

>>11816351
The pump to 20k was the bankers printing fake monopoly money and using it to buy bitcoin and you are paying for that free printed monopoly money via inflation.

>>11818059
>>11817987

>>11818137
Which one is it. just spit it out already anon

>>11818092
Oh, now it's the banker's fault. After spending all year PLEADING for banks to jump in.

LOL. You delusional fuckers are hilarious.

>>11818146
>>11817983
^this chart

>>11817063

brother, RSI is king. Consistently profitable using one of the simplest RSI strategies ever.

Yeah, the 3,800

>>11818186
Rsi is actually a pretty inefficient indicator, not because it's broken or a bad indicator, but because it's only one variable only calculating momentum. Momentum is pointless without knowing mass or force.

>>11818193
Im thinking this too but too chicken to buy back even if it gets there, its not even an investment at this point, completely unpredictable. Sold at a 50% loss at 4700

>>11818228
So, long 10x @ 4600? Probably gonna do it tomorrow

Just went up. Seems to be finding support at 4600

>>11818261
LOL

>>11818228

You don't need more variables if the one is enough.

If RSI finds support, I long. If it hits resistance, I short. Reading it takes a lot of practice though.

This has helped me so more than chasing down a million variables and trying to factor them all into the decision.

>>11818246
"unpredictable"

Only if you aren't looking for the right information.

OP on suicide watch

>>11818282
Based snowball. I will call out your name when the prophecy is fulfilled. Only to rejoice, not to seek greed.

>>11818279
"you don't need more variables" is like saying you can tell how fast a pitcher throws just by listening. Do you think you're going to be outperformed by someone who has better metrics instead of using information that works because "everyone else uses it" and 'it's a proven standard?"

>>11818279
Convincing the masses that all you need to dominate the markets is RSI, MACD, Fibonacci, and support and resistance levels was the greatest scheme of smart money. Why do you think 95% of traders lose money even though they're all using the "proven standard" of technical analysis? It's because smart money only wants you to think it works so they can make money off of you.

>>11818309

its like saying you can tell how fast the pitcher can throw by using your eyes.

You won't get 100% accuracy but chasing that is futile anyways.

I'd rather work on training my eye than trying to factor in weather, the height of the pitcher, the day of the week etc.

In a perfect world, all those variables could be factored in a way that would give you meaningful results. I just honestly feel, as someone that's tried the "tons of variables approach" that keeping it simple, as a retail trader is key.

There's people out there that can hit 80% winrate just on price action (something I can't do), there's other that can do the same with an RSI and MACD.

>>11818353
why are you sharing this?

>>11818353

lmao, check out Philakone on twitter, dude is an autistic fuck but he does live trading, posts his trades etc and he only uses MACD, RSI and level 2.

He's insufferable but has proven via a 3rd party (live trading and twitter) that he can do what he does with just RSI and MACD. Hell, he even went on a 30 days in a row without a loss, at least his public trades (which are live).

>>11817645
What price do you expect for EOY?

>>11818387
"maybe there is a better way of doing things, but I'm making money just fine and other people do as well even though they can't see the full picture."

There is a better way of doing things. If you can't define the fundamental paradigms that drive the function of the indicators and tools you use, why blindly trust them? Because they worked for you so far? Since you're up X amount on your portfolio and that's proof enough for you to continue trusting the safety line that someone else installed for you? You wouldn't repel down a mountain without checking if the rope is frayed would you?

"But I know the belt is hooked up correctly and I've made it down he mountain before!"

The rope always snaps eventually if you don't control all the variables.

There is no such thing as "good enough" when there is always someone out there with more money, resources, knowledge, training, experience, tools, power, and influence than you.

>>11818390
I do this for a living and enjoy it.

>>11818160
just say a number man why are you being so cryptic

>>11818458
pic related
>>11818524
Again, 3,800

>>11818513

then what is the solution?

I'm 100% open to the potential of new information.

What are the indicators on your chart here?

>>11817924

>>11818578
Where did you learn all of this? Self taught?

How long have you been trading for?

>>11818578
Based. What indicators do you use and how does one get into mean reversion trading?

>>11818578
based. thanks for breaking it down for us brainlets.

>>11818072
underrated post

>>11816351

>YFW the whale was right on the date

>>11818618
>>11818666
>>11818680

Bollinger bands
CCI (which is a derivative of bollinger bands except using mean absolute deviation and a normalized mean)
Mark Whistler's WAVE PM (which is also a derivative of bollinger bands)
That's it.

I strongly recommend reading Mark Whistler's Macro to Micro to start, the basics of the concepts I use are in there. Volatility Illuminated is also a great one of his.

I learned some things from Mark personally but am primarily self taught. I've been trading for three years and started in forex.

If you have any future questions or need even more resources after finishing those books my tradingview username is astram22, feel free to message me on there. Since WAVE PM is an MT4 indicator I had it commissioned into pine so it could be used on tradingview as well, I can grant you access to it post reading.

>>11816365
Months ago this guy said btc to 50k by eoy and them immediately said his calls were all bs because he makes money on an increase in volume so he will say whatever will increase volume and income flow for his company.

>>11816378
>richer and smarter than you
>"obviously he's inferior!"
t. white supremacist

there's a sale on tiki torches at walmart bud

>>11818762
here's one of my charts from may. Prediction hasn't changed, we're still heading down to the weekly 200 just a little slower than expected.

>>11818762
So basically BTC between 2k-50k EOY. I can sleep better now.

>>11818746

I'll keep your username bookmarked, I'll check out the book too.

I honestly may even attempt to code the indicator myself in tradingview.

I make indicators on there frequently, usually just to test before running them on python through my custom stuff.

I still stand by RSI being great though, I practice reading RSI frequently and its gotten to the point where I can get in and out with 1% scalps almost daily. (except for the deadzone that was last half of oct)

>>11818798
Do you have a tradingview?

>>11818762

This. First 50k and now 2k? He just wants to cause FOMO or panic in order to swing the price in either direction.

>>11818826
nevermind found it

Those who control the currency control the crypto.
Never forget.

>>11817983
>You can buy bitcoin now if you intend to make a short term play to the low 6,000's
Thanks. Where is the stop loss for this trade?

Hey guys, what is this formation called?

>>11816364

The RSI does not predict price direction in most cases. It is not useful.

how do i long btc for the dead cat bounce?
normally only trading

also give me your affi

>>11816351
._.

why did we just bounce? tell me that were going back down, i have a buy order at 4400

>>11818902
Expect some support at 4600... but it'll give.

This is what I've made, its slower but pretty decent, I usually place heavier bets with it.

>>11818872
red feels guy pattern

>>11817433
how does that prevent slippage? it's not pausing in between, it's just selling them simultaneously

>>11816376
SHUT IT OFF OTTO YOU FAT GREASY KIKE

guys, where do i long btc?
give me your affiliate link, i just want to use 100$ worth of btc

>>11817645
how profitable are you

>>11819034
https://docs.google.com/spreadsheets/d/1xnAcx48ebWPya3-hmIGc1thZvNWITX8ni6VThj49Ke4/edit?usp=sharing

kinda

>>11818872
the AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA pattern. Let someone know on investopedia

>>11818746
>>11819098
Thanks senpai, Ill make sure to message you in the morning

sell all bitcorns and buy ripple

The only problem is that you can't measure RSI in a manipulated market where you don't have access to volume. Most of the volume is fake and it's impossible to tell how much of real btc is traded.

>>11819214

5 Billion circulation with indefinate private control of total circulation vs 21 Million... Only.

>>11819098
>theoretical position sizes
?

so how profitable are you in real life?

>>11819342

>>11819379
He meant to put "FOR one day..."

Ripple cannot hold its value once people understand what it is. Crypto illiteracy is a temporary phenomenon and the boomers are running out of time / people to scam.

>>11818872
the suicide slide

>>11818872
death spiral

Come on TA fags, what the fuck is going on? Time to long?

>>11819379
never listen to nonwhites.

>>11819966
3800 as has been stated multiple times

>>11820034
4800 was thrown around too same with 1800 whats your point

>>11819966
Hmm lemme check my divintation circle... the chakras are speaking now hold on... mmmmm.... yes..... they say that the mtgox guy is going to sell his 850000 btc stack tonight.... but what could it mean.... i just do not know i am a simple technical analyst

>>11820034

no, it'll go above 6k before 3800

f it longed x50 @4.4
its fighting.

just or glory

>>11816365
>buy signal

>>11816845
>tether may collapse causing domino effect destroying all other stablecoins
At this point i'm considering doge as a stablecoin

>>11816351
it doesn fucking matter you cheeky cunt if there is no people who buy it will go lower

>>11816620
>doesn't know what a "dead cat bounce" is
>gives retarded advice anyway
Sasuga /biz/

>>11817138
btc chart literally looks like it falling from a cliff

>>11818578
>price will go up or down EOY

>>11816351
in december 2017 rsi was very overbought, i think u understand what is happening

>>11818798
Implying it doesn't take 6 months of sideways to get to 200ma and we're at bottom now.

>>11820867
Actually, this is a great talking point. Trying to define whether we'll see lateral mean reversion or trending mean reversion is something I've had to put a lot of work into. What it boils down to is whether the distributional subsets are compressing (lateral trading) or expanding towards the center of their parent distributions. This move we're seeing now is the OVER expansion of the distributional subset towards the 200 weekly mean. Compression HAS to follow this kind of move, so the lateral trading scenario is more than possible. It boils down to taking the shorts during the expansion and trading the mean reversions on the compression.

And still were not where i wanna buy... weekly rsi under 30 maybe goodd chance, so at this rate 3700 its a good entry.

>>11818872
gtfo-asap

Friendly reminder to be greedy when other's are fearful

>>11816378
he called ETH's drop when it was 380 dollars or something

i will buy in at negative rsi

>>11816991
that was me sorry

>>11817361
>(((Steven Goldstein)))
KYS KIKE

>>11817645
This guy is mumbo jumbo rambling on you morons

https://bloomberg.com/news/articles/2018-11-20/no-end-in-sight-for-crypto-sell-off-as-tokens-take-fresh-hit

>Bloomberg is spreading FUD, just HODL bros bull market up ahead!!!
lol fucking retards

>>11822247
It's staring at you in the fucking face and you're all still HODLing.

Get dump on you cryptoniggers, also please kindly remove yourself from the genepool.

>>11816378

>>11816351
Anyone dumb and greedy enough to be in this shit already is knee deep.
The people who aren't interested, like me, aren't going to buy it period. Not here, not at $3k, not at $1k.
The only potential buyers out there are all you idiots already caught long these virtual tulips.
There's a global liquidity crisis, wake up and get out now.

Where can I see the 200 day weekly RSI on alts?

>>11821177
pretty sure he caused dumping with his double digit shitcoin fud, but who cares i stocked up on $150 cheap eth now

10x next bullrun, who needs shitcoins when eth can do same

>>11822679
>global liquidity crisis
>get out of BTC into fiat

>>11816351
>zoom out

look at weekly RSI senpai, we have a long way to go
and by that I mean long way to 3k

>>11818872
Le Wojak Pinque

>>11818872
Honest answer, I think you would just call it a downtrend on a certain timescale if you were a professional trader, or just an impulse wave, a drop, a dump. Something along those lines. Or you could do an elliot wave count, call the small dead cat bounce a sub-wave and the whole thing becomes "a wave structure". I'm sure there are technical names for those individual candlesticks too like I recognise a spinning top, reverse hammer. That kind of thing, but I'm too retarded to know what they mean.