/biz/ - Business & Finance

I'm long anons
Very very long
No homo

>>55214013
Your assessment of the situation is probably correct. I would add that the 4H now while technically looking bullish (blue over orange) has the same shape as before the dump which obviously is bearish. Picrel.

>>55214064
I meant the 1D (as in pic filename), not 4H.

>>55214013
Your assessment of the situation is probably correct. I would add that the 1D now while technically looking bullish (blue over orange) has the same shape as before the dump which obviously is bearish. Picrel.

>>55214013
You were right. Good call.

It's going to be glorious to see all the brainlets seethe and tear their hair out. All the brainlets who keep ignoring the chart. Who ignored the 1W Stoch RSI in mid April and are still ignoring it and keep raging against Stoch RSI in general and desperately coping using the "muh lagging indicator" cope. Who are now also ignoring the 1W MACD. Who are now also ignoring the failed support that held since 2013 until recently which is now acting as resistance. Who are mostly from reddit. Who are mostly baggies who held with "le epic diamond hands" all the way from 40k and earlier.

Lurker here. Thanks for your analysis..
Moonbois sometimes are blind for excess of emotions.

I wish there were no "sides" here (bobo/mumu) but people trying to warn/give hopium to others without stupid narratives

>>55214013
Thanks op you da real one

>>55214013
When should I long then?

>>55214812
When the 1W Stoch RSI is bottomed of course. Naturally it doesn't have to reach 0. It could cross bullish and begin rising near the bottom anywhere between 5 and 20 points. In that case as well, longing is probably a good idea.

In the most extreme bearish scenario however the 1W Stoch RSI will stay bottomed for some time as the dumping continues. That could happen and has happened sometimes (for example May-June 2022).

I sold.

>>55216553
Noooo, you're supposed to HODL! Don't sell high and buy low! Nooooo!!!

>>55214150
Looks technically bearish now. It's falling.

Where are the seethers?

>>55214013
Redpill me on Stoch RSI

>>55220156
the numbers are too complicated to explain.
just understand, when the number is high, like over 80, and the thing you want to buy is a high price, it means a dump is imminent.
and the opposite holds true.
a stoch rsi less then 20 while at a low price for the thing you want to buy, then a pump is imminent.

>>55220193
>and the thing you want to buy is a high price
ok but who/what decides what a "high price" is?

>>55214013
Bitcoin prices determines RSI. Not the other way around. Sooner you figure this out, sooner you go long

>>55220211
check'd
that's a great question.
you decide if you think it's a high price or not.
if you don't want to buy it, then the stoch rsi doesn't matter.
the same is for the opposite again.

>>55220238
I duno bro, just taking a look at recent stoch rsi on the 4h correlated with price it doesnt seem like much of a reliable indicator

>>55220409
naw, there's an anon that only looks at stoch rsi and he makes bank.
you need to know what price you want to buy and sell and the stoch rsi confirms whether you're being retarded or not.

>>55220440
u need patience last man standing last type of mentality
can't be chicken out by the jews otherwise you won't be making any money at all
also gamer mentality is for fags if u have no patience

>>55220156
Read this: >>/biz/thread/54542583#p54542934
Quote:

> "The Stoch RSI is a visual/graphical representation/illustration of the current state of the market at any moment -- it shows whether the market wants to mostly buy or mostly sell. And right now BTC is "over bought" to an insane level. In other words the market is basically done buying. It means the market will mostly (there will always be some buyers in any situation of course) sell soon, in other words most of the market will shift from buying to selling, which will cause the price to fall (what we call a dump)."

> "That is on the weekly and lower timeframes. On the monthly timeframe the market remains mostly in buy-mode."

> "So in other words you can expect a very big dump soon or a series of smaller dumps (however we can't tell how low the price will fall, that's impossible to know). And then after that, after the dumping is done, then a new rally will start."

>>55220509
And that was posted on April 11th.
Notice he wrote:
> " the market is basically done buying"
And he was right. There was just a little bit more buying, which took the price to 31000 where it quickly dumped back down. And since then the price has been falling and hit 25.3k recently. He was able to know the market was "basically done buying" because the Stoch RSI on the Weekly was at 100 points. A that moment the Stoch RSI on the Weekly looked like this (pic). That's from April 13th but it looked the same or almost identical on April 11th. Generally when the Stoch RSI gets near 100 and especially when it hits 100, you know the price is about to fall. The exception to this is the Monthly where during extremely bullish situations, like in a super powerful bullrun, it can stay very high (between 85 and 100) for a long time and even hit 100 and fall a bit yet the price continues to rise. That's entirely to be expected. Another exception is that 3 or 4 times in Bitcoin's history the Weekly has stayed topped for a bit longer than usual, and that was also in those kinds of super bullish conditions. But that only happened those few times. And those few times the shape of the Stoch RSI (the blue and orange lines) on the Weekly looked very different from how it looked this most recent time (when the Weekly was at 100), which is why that anon could confidently say that the market was basically done buying; he knew it wouldn't stay at 100 because the shape looked obviously bad/bearish (the market had shown weakness). The same exceptions also occur in the other direction; during extremely bearish situations (bear markets) the Monthly stays near the bottom for a long time, and likewise the Weekly as well has stayed bottomed for a while but just a few times.

>>55220509
>tfw David Attenborough explains stoch rsi

>>55220409
It's not really correlated to price itself, but the strength of the movement of the price versus how strongly the price moved around previously. It's a graphical visualization of relative strength. Which is why sometimes the Stoch RSI can be rising but the price is basically just crabbing, or the Stoch RSI is falling and the price is crabbing.

>>55220156
>Scott Storch
Used to make them fire beats

>>55220440
>>55220509
>>55220618
yea but take a look at this for example from march this yr, stoch rsi is maxxed out at 100 for a few consecutive days following a pump. according to that definition the market is "basically done buying" but we just get more pumps after that.

>>55220775
They are using weekly candles.

>>55220775
That's not the 1W. That's an hourly timeframe. This >>55220525 was about the 1W. It has only stayed topped for an extended period on the 1W a mere four times. On the 4H it stays topped (and bottomed) much more often. And anything less than 4H is basically pointless to look at.

>>55220988
Correction: that >>55220775 is the 1D. Anyway, same thing applies with the 1D as the 4H, the 1D stays topped (and bottomed) much more often than the 1W.

Also that March pump here >>55220775 occurred at the bottom of the 2023 M-shape on the 1W here >>55220525 (the "M" wasn't completed then, it is now). The 1W there began to rise, from 80 or so (around 20k) to 100 (31k). So of course the 1D stayed topped.

>>55221171
>So of course the 1D stayed topped.
But of course not all of the time during that rise to 31k. The 1D fell as the price crabbed around 28k for like 20 days. Because as pointed out here >>55220618 it's relative. Since the price stopped pumping and switched to crab mode, the Stoch RSI fell.

>>55221275
>the Stoch RSI fell.
...on the 1D. But kept rising on the 1W.

Which is why one always ought to look at multiple timescales.

so whats the consensus ?
up or down ? 1week ? 1month ?

>>55218091
I'm comfy

So 32k in a week got it

>>55221334
Before end of June there's a pretty high chance of BTC hitting 22k, possibly testing 20k.

>>55220156
It's Hebrew nonsense that can't account for external factors like the SEC abruptly announcing lawsuits against exchanges.

>>55214013
Sorry, not reading all of that. Fuck you.

>>55220985
>>55220988
>>55221171
nope its the 4 hour

>>55223044
next week btc will be at 30k

>>55220156
it's an "indicator" that market makers manipulate in order to lure suckers into traps.

>>55214013
King Shitcoin on the verge of collapse. What a surprise.

>>55223181
You're not missing out anything, the best thing you can do is avoid these retards

>>55223239
It's not.

>>55227238
This is the 4H of that area. Looks different than >>55220775 which is the 1D.

>>55227238
Wait what the fuck it actually is the 4H, it's just so fucking flattened / stretched horizontally, that it looks different.

>>55227268
many such cases

>>55223044
AHAHAHHAHAHAHAHAHAHHAHAHHAHAH
p-please to lower I missed the bottom

>>55214013
LMAO my random drawn meme lines are actually on board with that. We may bear to 24.8k

>>55214150
Yea, we are bearish to 24.8k

>>55223044
Regulation pressure from SEC couldnt bring us down. Thats showing strength when the fear is pedal to the metal. I dont think we are going down. Catalyst and the perfect storm to 22k was there but didnt happen.

>>55227829
Child, the bottom is 8k. Has been since it was signalled by Binance near the top.

>>55230025
shhh don't tell them

ALERT URGENT *pointing onions face*

stfu OP

>>55229941
>he thinks the price is dictated by muh news and muh happenings
cringe