/biz/ - Business & Finance

>>17725235
Fake out

>>17725235
>it will go up forever
*yawn*

>>17725245
cope

>>17725235
Btc $1000? By looks of this. Fucken hell

>>17725270
dilate

>>17725235
>Drawing imaginary lines on a graph
Wow insightful. Sometimes it bounces off line. Sometimes it doesn't bounce off line. Why am I broke?

>>17725235

>>17725235
yup, wash trading and tether printing can only take you so far

>>17725235
You mean except for exactly where your trend line starts that huge wick down through it?

>>17725284
Kek. Disseminating fud fud written by whales

>>17725282
>price bouncing off the line every single time it touches it for 5 years is just a coincidence
Okay, retard.
>>17725307
Correct. The only way to save the bull right now is to make a similar wick. We got a few days until the weekly closes. So far the candle looks solid.

>>17725310
I've been saying the exact same thing since long, long before that was written, just more succinct so I don't have to do a writeup myself every time
also, great job at not addressing the actual argument, simply dismiss as FUD and cross your fingers that someone will sprinkle some magical fairy dust on BTC and revive it

>>17725235
think about this: btc mooned ONLY when there was a bull market in the stocks. i REPEAT: in all history of BTC it only witnessed the stocks bull market. we can now understand how BTC behaves in a stocks bear market (it follows it).

>>17725284
what's the point of halvening the reward anyway ?
couldn't mining just be linear ?

>>17725383
this. bitcoin is correlated with the stock market, at least on a macro level. we've always known this, now it's proven. it isn't a substitute or safe haven asset.

A log chart like that should have a curved line.

>>17725397
it could be, and in a sense a linear reward really isn't that different from a diminishing one, since both will tend to be an infinitesimally small fraction of total supply with time, but Satoshi purposefully made it that way so that the reward would decay more quickly, always intending miners to be compensated by transaction fees through network usage
https://bitcointalk.org/index.php?topic=48#msg329
>In a few decades when the reward gets too small, the transaction fee will become the main compensation for [mining] nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume.
>—Satoshi

>>17725356
>trust me I made a chart

>>17725476
You dont have to trust me, you can just go and draw the same line yourself, retard

>>17725235
post your shorts

>>17725497
shhh pajeet

>>17725235
there's always another line

Will the markets get pumped on friday? I'm liquidating all my crypto, tomorrow looks like an absolute carnage (it already is for crypto) so I'm not sure if I should sell now or wait until the PPT friday pump (but who knows if it will happen, and if it will spillover from stocks into crypto)

>>17725530
lmao, that is where you are wrong
5 year line beats 2 year line
learn TA or shut up

>>17725638

>>17725235
I always knew BTC was a scam

Beetcoin is about to hit the fan you guys. It was fun while it lasted.

>>17725235
Hard bounce back up to 10k just to fuck with the media in the face of market collapse.

>>17725530
how about this one

>>17725664
OH NO BITCOIN IS FINISHED

We have now entered 2016

>>17725780
>>17725783
utter cope
no one is looking at these pointless lines

>>17725664
>learn TA or shut up
Nobody takes this shit seriously. Examine the past all you want you can't predict shit like travel bans for an entire geographic region.

>>17725796
I've just posted the most bearish line possible faggot

broke through another major support at ~7360

>>17725235
it's truly dead. like really this time.

>>17725783
>>17725841
You realize what after that line broke bitcoin had a -75% crash? Or you are just retarded?
Violation of long term trendlines is a big deal, and the consequences are usually quite severe.

Dont we have to wait for confirmation on the monthly chart before making any rash decisions

>>17725397
It's designed to incite fomo cycles
the fundamentals are sound
gubmints will print money like non-other
focus anon, stack sats
this is the blackswan
the bounce will be like none other
buy some ARPA for alt season too

>>17725916
This. Don't sell yet.

>>17725916
>>17727196
post monthly TA chart

>>17725900
yeah but that was between two halvings different story. still can happen obviously it's just less than 5% likely.

>>17725408
It is not fucking proven and you don’t know what will happen next, Bitcoin should have reached an agh this year like the stock market did but it didn’t so your shit theory is wrong

>>17725235
that was never an actual support you massive retard
THE SLOPE CHANGES WITH EVERY CYCLE

you can't just randomly take the LAST cycles slope, expand it and expect it to hold

This will eventually hit $1500 and go sideways.
Real bullmarket will start at the end of 2021 or early 2022.
This climb was way too early for a new bullmarket.
Also halvening is a meme that has already been priced in.

im not shitting you guys, but its so bad that they shut down tradingview. try loading the chart.

>>17727394
okay now 10% likely wtf

well...

>>17725235
Hahahahahahahahaha Just lower the line m8 like just walk away from the PC Haha

>>17725356

> MUH BASED TRENDLINE

its pretty shit desu

>>17725664
absolutely assblasted lmao
imagine wasting 6 months learning how to draw best fit lines that are rarely valid for more than 3 months.

>line gets broken
>bitcorn immediately dumps 2k in 10 minutes
But muh meme lines dont matter right?... Told ya what consequences of multi year trendlines are quite severe. You just saw it right in front of your eyes you dumb fuck.

>>17729350
listen you dense motherfucker
i said it before i'll say it again:
every cycle has it's own trendline.
the line in the OP is the LAST cycles trendline. of course this doesn't hold when the slope drops with every cycle,
it only serves as RESISTANCE in the current cycle. it has always been this way and always will be.
that is what a cycle IS: the last trendline switches from support to resistance. go back to the full chart, check what i am saying and realize that this has happened every time.
the current trendline is probably the one that goes through the early 2019 double-bottom, which would mean the current bottom would be around 5k.
pic absolutely related

>>17725235
HOW COULD THIS HAPPEN TO ME

>>17729511
holy fuck you are genuinely retarded, okay

>>17729820
he's right, nothing is fucked until we go a bit lower

>>17729820
you reason and write like a 15-year-old girl. please keep on trading in this market, the money has to come from somewhere.

>>17725235
The candle must close first.

Obviously everyone panicked to cash, these are the same people who FOMO back in, only this time with an interest rate cut, and possibly payroll tax cut? There’s nothing wrong with the economy. This might be the perfect storm for hyperinflation.

>>17725397
reward early adopters whom satoshi believed took on more risk.

This is bullish!

200 weekly MA not yet broken

The memeline OP drew is not the only one holding us up

>>17730716
Zoomed out

>>17725278
850 lol

>>17725261
As long as it has any value at all and more of whatever you are pricing it in comes into circulation, it kinda will keep going up over the long term, that's how division works.

>>17725235
You are the kind of retard who wants to use TA, but has no clue how TA works. All you did was draw a line to something you want to see. You are the reason why there are people that believe TA doesnt work, because what you do doesnt work.