/biz/ - Business & Finance

Hey it's bobo!

>>53407177

>>53407155
Rejected by whom?

>>53407155
You do realize 23k has been continuously tested for these last few days, right? The fact that we haven't smacked back down after testing 23k is a clear indicator that we are about to break the resistance.

I mean, this is textbook example...

Do you even invest? The more the resistance is retested without a clear retrace, it eventually breaks

>>53407155
>the market has to go down, ugh, why, it just has to ok, it just does (autistic screeching in the background)

>>53407155
It's either going to fall out of its current channel and dump below 21.3k or it's going to consolidate around 22k and reattempt 23k before breaking it.
It may be running out of steam, but there's still enough to burn us if we get careless.

it's at $22,990
all it takes is for someone to buy $11 worth of Bitcoin and we'll breach 23k

>>53407278
You should be scared that it's running out of steam, yet not having any significant retrace yet. That's a sign that people are more interested in holding for the inevitable break past 23-24k

>>53407155
23k keeps being tested again and again. Looks more likely to break through than not.

>>53407372
I'm not scared at all. The moonboys you see around here fomo'ing in to buy 0.1 BTC are not going to be holding up support.
They'll be holding the bag.

>>53407155
oh shit someone help him!

>>53407222

Exactly, each time it’s tested there are fewer sellers to push it back down.

>>53407155
>>53407194
based

>>53407222
This is likely the case.

>>53407222
Your post reveals you're newfag, as you have a newfag understanding of this - and likely you're a baggie.

>You do realize 23k has been continuously tested for these last few days, right?
That is extremely bearish. The more times a resistance is hit and it gets rejected at that resistance, the more bearish it is because it confirms to the players in the market that it's major resistance which most likely won't be overcome. The same is the case with supports; the more a support is hit and it bounces from the support, the more bullish that is because it confirms it as a support to the players in the markets. Of course there are sometimes exceptions, such as when BTC hugged the 6k support (believed by many to be the bottom) in 2018.

>>53407543
>plebbitspacing

>>53407155
>>53407177
fpbp and checked

>>53407155
its alt season

>>53407979
You're actually stupid and completely and utterly wrong, and the person you're replying to is correct. The more times a support/resistance is tested, the likelihood of it breaking increases, it does not make that support "stronger", it makes it weaker. This is like trading 101.

>>53407155
i thought you died

>>53407222
imagine completely ignoring fundamentals and wacking your dick off to fake and gay TA porn all day. i mean seriously, just stop and think for one fucking second you massive tard.

>>53408232
>every alt is still down 95%

when there's so many bart shapes in the price graph methinks it's all just a few whales manipulating it, otherwise it wouldn't look like gradual growth instead of some mayan step pyramid

>>53408840
>whale manipulation
Probably. The price action isn't normal, even by BTC standards. Price reaches what should be healthy reversals and either blows past or just grinds along until they break, no matter how strong the rejection candles. Price doesn't retreat to low enough levels of support to let anyone buy in either.
It doesn't look right. It's like buyers are just grinding away the sellers without any regard to profit and I'd say it's probably bots given how persistent it has been.
The bearish divergences on the oscillators is also a definite bull trap giveaway.
I'll just say bluntly that I think SBF has been turning over embezzled funds he had hidden in wallets all over the place and returning them to FTX. FTX is forcing price up to make its customers whole. These, of course, will be the institutions. The retail mumus are going to be stuck holding the bag.
I'm less annoyed that SBF/FTX is doing this than that it's pretty clear the authorities are letting it happen.

>>53407979
lmao the same graph for almost 2 weeks, how much are u losing?

>>53407155
Check the chart again retard.

>>53407155
Hey fag, guess what?