/biz/ - Business & Finance

Yes, 12k.

>>4727929
Yea, this market is about to crash dude.

>There are no breaks.

It was a bulltrap everyone...GET THE FUCK OUT!

who the fuck is buying this at 11k after watching it drop back down to 9k twice now

dont worry, tethers will save the day

Oooh nooo I'm so scared guys I'm gonna sell all my botcoins get out nooooow

>>4727962
>>4727966

>>4727929
more indecisiveness

the call is in.

>>4727929
>>4727946
>>4727962
>>4727966
>>4727975
>>4727977
Look at that chart and the famous bubble chart...it's not looking good!

>>4727966
dubs confirm it

>>4727966
they can't keep getting away with this!

>>4727966
Please free us from tether hell

>>4727929
why is GDAX so fucking pretty. Binance is an ugly cunt

>>4727929

$11,896.10 on Bithumb, BTC is going up you weakhanded faggots.

>>4727929
actually I hve no idea
whats next

40k

>>4727929
>you know what comes next
Yes. Another batch of Tether.

>>4727929
what site is this?

>>4728204
GDAX

>>4728190
Most Likely

>>4728183
Definitely not gains anytime soon

An opportunity to accumulate most likely

>>4727929
>>4727945
>>4727962
>>4728006

lmao everyone is so desperate for a crash, just so that they can buy back in lower. and guess what happens when everyone wants to buy lower....price begins to creeps up from the pressure and people fomo in at the top when it's too late.

>>4728304
See here's the thing though, if everyone is waiting for a crash, who the fuck is buying up at 11k?

Oh yeah, dumb money and dumb money isn't a lot of money in this space yet

So if there's a lot of people anticipating the crash, then there's a lot of sellers at 11k, and very few buyers at 11k, this will naturally push price down, causing dumb money to sell and triggering a chain reaction until there's a price that smart money feels good about buying into.

Have you heard of the term "self-fulfilling prophecy"?

>>4728413
Correct, it's not an if but when.

mega whales are accumulating BCH again, take a look at BCH/BTC on bitfinex.

>>4728074
Use advanced mode buddy.

>>4728413
>dumb money isn't a lot of money in this space yet
>le normies still haven't figured out about muh bitcoins meme
Goddammit let it go already. Mark Cuban put out a video telling everyone to put 10% of their wealth into Bitcoin last week, for fuck's sake.

The normies are here and if you aren't rich you missed the boat. Fucking deal with it.

>>4728764
>Goddammit let it go already. Mark Cuban put out a video telling everyone to put 10% of their wealth into Bitcoin last week
>The normies are here and if you aren't rich you missed the boat. Fucking deal with it.
The painful truth. That video was over a month old actually.

>>4728764
>The normies are here

You really think normies know how the fuck to store Bitcoin securely?

They're clueless. There's no centralised advice bureau for Bitcoin, and so they have to wade through the bullshit and get to grips with something way beyond their attention span.

There will be no normie money until an ETF.

>>4728413
This

>>4728830
>>4728764
>Implying normies actually follow Mark Cuban or any actual business/finance advice

95% of normies would have no investments at all if 401k's didn't exist and invest money for them before they get their hands on it

75% of normies have less than $1000 in their savings account. I know this because I do personal finance for a living.

Normies don't do shit with investments unless it is literally shoved down their throat by someone sitting there with them

Yeah we're getting normiebux here and there, but thinking that Mark Cuban says something and immediately normies are buying crypto is deluded. Coinbase get's 100k new accounts every few days, sure, but my bet is that less than 3% buy any crypto, and it's most likely $100 or less

>>4728960
>Implying normies actually follow Mark Cuban or any actual business/finance advice
It was also on the Big Bang Theory already you cocksucker. How harder do you have to cope?

Let me guess, you're a newfag huh? Too bad, I've been in BTC since colored coins and Butterflylabs faggot.

You missed the boat. Stop coping.

>>4728960
4chin over-estimates a "normie". A typical normie can barely fucking read. Average european iq 99, average murican iq 98. That is beyond ridiculous.

https://iq-research.info/en/page/average-iq-by-country

>>4727929
Just looking at the 4 hour chart, we've had double tops at $4400, $5800, and $7700. All of which had a big retrace afterwards but managed to rise much higher after.

>>4728996
Aight breh

It's not like I see the retarded decisions that the general public makes with their finances every day

4chan is an echo chamber breh, go outside and talk to normies sometime, less than half have even HEARD of bitcoin till now.

>>4727929
its not double top its cup with handle

sold my car and bought at 11.5k, it's going to be alright, right?

>>4728413
>who the fuck is buying up at 11k?
who was buying at 1k? 3? 5k? 7k? 10k? Each was an ATH top at some point, and yet people kept buying. you're just another anon trying to call a top here, what makes you so sure this time?

>Oh yeah, dumb money
Or institutional money that see that once 10k is out of the bag then 12, 20, even 50k is an inevitability and are trying to push the market in their favor while the "dumb money" fomo is still strong. but who the fuck knows, you and i are speculating at this point. it could be both or neither.

>So if there's a lot of people anticipating the crash, then there's a lot of sellers at 11k, and very few buyers at 11k, this will naturally push price down, causing dumb money to sell
Wow, you should teach a seminar on wall st. you must be a genius if you figured this out, and also filthy rich too right? this works every time you say? you've traded accordingly? or...is this how shorts are squeezed, because "dumb" money sees the "obvious" top and try to short it, which is a perfect opportunity for "smart" money to push the price up a bit to scare vulnerable shorts into closing and triggering a margin cascade?

>Have you heard of the term "self-fulfilling prophecy"?
are you fucking 5 years old? you sound like a naive young child who tries too hard to be "deep." keep trying though!

>>4729112

Volume should rise as it approaches upper resistance. Definitely not happening here.

>>4729131
>who was buying at 1k? 3? 5k? 7k? 10k? Each was an ATH top at some point, and yet people kept buying. you're just another anon trying to call a top here, what makes you so sure this time?
Am I sure? No. But buying right now has marginal gains for the potential losses and definitely looks more bearish than bullish to me.

>Or institutional money that see that once 10k is out of the bag then 12, 20, even 50k is an inevitability and are trying to push the market in their favor while the "dumb money" fomo is still strong. but who the fuck knows, you and i are speculating at this point. it could be both or neither.
Totally agree with you.

Wow, you should teach a seminar on wall st. you must be a genius if you figured this out, and also filthy rich too right? this works every time you say? you've traded accordingly? or...is this how shorts are squeezed, because "dumb" money sees the "obvious" top and try to short it, which is a perfect opportunity for "smart" money to push the price up a bit to scare vulnerable shorts into closing and triggering a margin cascade?
With the tether situation, shorting would be very, very foolish. And not rich yet, but started with 1k in late August and now have 7k, could've had more if I had sold before the September bear market, which is exactly a similar pattern to what I'm seeing here. Only difference is there isn't a massive FUD event yet. It's definitely primed to crash hard if that were to happen.

>are you fucking 5 years old? you sound like a naive young child who tries too hard to be "deep." keep trying though!
"Deep" lmao this is 4chan. I'm just here for dank memes and new coins to research. If I weren't here I'd have missed Walton, LRC, KMD, 1ST. Just trying to see what other anons think and see if I can be proved wrong about this. No need for such venom bud :3

>>4729269
yeah you're prolly right.
be careful folks

>>4729324
fair enough anon, sorry for the vitriol :)

>>4727929
been trading for over 10 years.

there's no such thing as double tops.

>>4729269
Should I invest my time in learning TA or not? You guys seem like you know your thing I want to be like you.

>>4728302
>GDAX
ty

>>4728304
You clearly don't know what you are talking about but even if you did it is in your best interest to say it's crashing

>>4729400
Thanks, I apologize as well for the sarcasm

Just two perspectives

Only thing to do now is find something to get /comfy/ and watch to get my mind off of charts till this whole deal plays out.

>>4727929
The audacity of you fucking retards. You come here sharing tips and analysis of crypto, when it's just a roll of the fucking dice. You're like a sad old booze hound that thinks he's got a great method for winning the coin slots. You all think you're Jordan Belfort. If you weren't £1000 deep in crypto by 2014 you're a fucking victim. If you haven't already lost most of your money, you're going to at one point. Even the photos you post of your "14k portfolio", you're not kidding anyone. Spend 10k, up 4k one day, down 4k the next. This should not be a business and finance thread it should be a help thread for problem gamblers. You're fucking pathetic. You're lazy. You have nothing going in in life. That's why you choose crypto currency. You're all too lazy to invest in real business ventures. Take me for example, a real entrepreneur. I've been buying and selling cars since I was 17. It's paid my bills for 6 years. Just this morning I bought a "spares or repairs" listing for £150. Got it running after a quick reference of the hanes manual and an hour on YouTube. Same car, similar age and millage are selling for £4500 on autotrader. Night just sell it for £4000, for a quick sale. Even if I buy a car that is truly fucked, it still has scrap value, real physical value. What do you have? Nothing. Ive also put the deposit on a car that cost 3300 but will sell for 5000 easily. And all that took was 15 mins looking for a good deal. Last year I used only £8000 to buy my uncle a van and tolls for his landscaping business, for which I'm getting £1200 per month cash for zero effort. No sleepless nights. No spending hours each day following trends (100% pointless task) and now I'm looking to buy a small piece of low grade land for forestry operations. You idiots really have no idea about business or finance. I hope bitcoin crashes to 1k most of you fucking hang yourself. Worthless posers.

>>4729429
i would disagree with that, double tops seemed to be more of a thing in a ranging market and i used to trade it regularly. they actually used to be my favorite pattern to trade, used to be super easy to make money off of them. i've seen way less of them though during a strong rally, most of them turn into bear traps when ppl trade short expecting the last leg of the "M" to form until they realize it won't happen. took me a while to understand this and transition out of my old trade setups into my current one.

>>4729454
If you accept to spend time on it knowing that it can't predict future and is only telling you to wait for a confirmation, then it gives you more chance to be right, but could also be wrong.

In this case, it looks like a double top. but you shouldn't short now, if it breaks that support at 9k then you short and aim for 8k which has something like a 65% chance to happen.

>>4728304
jesus you are stupid.

I work for a BIG crypto company and everyone on the inside just sold out. We also just got paid from that sweet sweet ICO monthly paycheck. Thanks dipshit.

>>4729658
that guy is an idiot.

Look at the log chart though.

We are WAY over bought.

>>4727929
>2 hours ago
yeah wow its been awfully terrifying

>>4729454
sure, it's not magic...more like market psychology. it'll help you but it won't give you the right answers. for example ppl love to shit on fibonacci retracements but without them it would be like flying blind. TA works mostly because people using them think they work, it's one big circle. you can start to more easily see what price points people are looking and where/why they open/close their positions, and you can use that to make the best possible trade for you.

that being said, TA is the easy part. it's controlling your emotions that's the most difficult.

>>4729572
And what's the point of this post exactly?

>>4729522
same, trying to stay /comfy/ as possible before the next action. i've made some mad gains already but i feel i need to keep going...i lost hundreds of btc in a bad trade earlier this year and I'm still trying to work my way up to 1MM. i'm not giving up until I make it.

>>4729849
true, but it could be more overbought. i'm just using my instincts here...but i feel the longer we sit here the more likely we're setting up for another leg up. if it dumps i'll be ready for it, but usually dumps are more decisive than this.

>>4727929
The audacity of you dolts. You come here sharing tips and analysis of crypto, when it's just a roll of the fucking dice. You're like a sad old booze hound that thinks he's got a great method for winning the coin slots. You all think you're Jordan Belfort. If you weren't £1000 deep in crypto by 2014 you're a fucking victim. If you haven't already lost most of your money, you're going to at one point. Even the photos you post of your "14k portfolio", you're not kidding anyone. Spend 10k, up 4k one day, down 4k the next. This should not be a business and finance thread it should be a help thread for problem gamblers. You're fucking pathetic. You're lazy. You have nothing going in in life. That's why you choose crypto currency. You're all too lazy to invest in real business ventures. Take me for example, a real entrepreneur. I've been buying and selling cars since I was 17. It's paid my bills for 6 years. Just this morning I bought a "spares or repairs" listing for £150. Got it running after a quick reference of the hanes manual and an hour on YouTube. Same car, similar age and millage are selling for £4500 on autotrader. Night just sell it for £4000, for a quick sale. Even if I buy a car that is truly fucked, it still has scrap value, real physical value. What do you have? Nothing. Ive also put the deposit on a car that cost 3300 but will sell for 5000 easily. And all that took was 15 mins looking for a good deal. Last year I used only £8000 to buy my uncle a van and tolls for his landscaping business, for which I'm getting £1200 per month cash for zero effort. No sleepless nights. No spending hours each day following trends (100% pointless task) and now I'm looking to buy a small piece of low grade land for forestry operations. You idiots really have no idea about business or finance. I hope bitcoin crashes to 1k most of you fucking hang yourself. Worthless posers.

>>4727929
a slow december of mild growth before january picks up

>>4729814
LMAO, keep enjoying that monthly ICO payment until they get hacked or exit scam your ass. eth and altcoins are a cancer to the crypto community.

>>4729956
Hes insecure. Wants validation

>>4730079
Good luck anon, hope you make it

If I was that far in the green I'd probably be holding BTC right now too, as I see it tho I have a great opportunity to double my BTC stack for another bull run after it corrects

>>4727929
>you know what comes next

christmas?

>>4730206
>taxes
>there was a dump last year around 15th of December, people will be in the lower tax bracket soon
>Wall street likes to take long positions according to years ending
>they are buying and will drop the bottom out before the new year so they can buy cheap and hold for a year.

All reasons why this is gonna crash soon.

I'm trading but am ready to get out and watch the fall.

>>4730699
thx my dude, i hope you make it too.

i've been trying to sell only after seeing some clear reversal signs because it's been really hard to buy back into position...super thin orderbooks at gdax means I'm taking a huge haircut just to get back in and if I'm wrong then I'm absolutely out of position going back up which means I have to sit out from trading until it corrects again (the perils of trying to be a "good, disciplined" trader). either the thin books are a way to trap traders like me into a bad position, or there really is a supply-side shortage that isn't super obvious to most people which may be the underlying cause of the rally ever since the halvening...my two cents.

I'm getting tired of waiting. I sold around the initial fall and haven't bought back in yet. I'll buy a REALLY low dip, but low 9000 isn't convincing me now. That is a support level, obviously. If it breaks 9000 we'll see a real dip, and I'll consider buying that. Until then I'd rather buy at a mid range, strongly supported rally than speculate on this relatively low volume bounce that has been going on for a couple of days.

>>4727929
do people just say shit like this the same way jocks say "wow wait to you see this arsenal are going stuck united 3-1"?

As in, its all meme speak and doesnt really mean anything. Or is it clear to see from this graph that this is going to happen

>>4730786
all good points, i'm planning on the same scenario but there's still a few good weeks of potential gains before the december effect takes hold (i think).

>>4731141
What are you trying to ask friend? using TA is just one piece of info, it's not perfect but it's better than just using nothing

>>4731141
i would say that while it looks fairly obvious, personally i think that's why it's trap. this post is less meme-y than most. double tops are a real thing and he's got a point about volume and 11k resistance. doesn't mean he's right.