/biz/ - Business & Finance

>>56057906
Here's current state of the market. Exactly as many of us expected, the market turned bullish in mid June when the 1W Stoch RSI hit the same point level as in late November the previous year – which is when the pump from 15.5k began.

Back in mid June, the few bears who naively expected the 1W Stoch RSI to simply keep falling and hit 0 from where it was then (in other words expected in June that the market would remain bearish for long enough to bring the 1W Stoch RSI to 0) got rekt because they didn't listen to the many anons warning specifically that the 1W didn't have to – and was unlikely to – fully bottom out and would probably reverse at around 20 points or so since that's where it reversed in late November – which is exactly what happened; the market in mid June turned bullish at the same Stoch RSI point level as in late November, and BTC pumped from 24.8k to near 32k.

As you can see (if you understand what you're looking at and you're aware of the current situation BTC is in), it appears unlikely there will be any more "fake" reversals; either the market turns properly bullish from here – the most likely scenario – in which case you'll soon see a sharp rise in the 1W Stoch RSI followed by the price promptly surpassing 32k, or the market sentiment continues to be bearish from here in which case the market is repeating the May to June situation where the 1W Stoch RSI stayed near 0 for an extended period of time. Considering various other factors apart from the Stoch RSI, if the price drops below 23k or so then you'll know the bearish scenario is where the market is taking BTC. In other words, if the price falls below 23k, and absolutely if it falls below 20k, actually below 22k is most likely sufficient, then you have confirmation that of a repeat of the "May to June" situation is happening. If such a fall in price doesn't happen, then we're in a very bullish situation (meaning we're likely to see above 40k before the end of the year).

>>56057906
I'm bearish on BTC right now because 1M Stoch RSI did a bearish cross.

Midwits

>>56057906
so basically accumulate? Got it
>fucking biden not writing off my student loans so i can accumulate more

>>56057920
>Considering various other factors
Such as this, which is extremely crucial: BTC is very near the bottom of its log curve. The price dropping to 23k or so would be catastrophic as it would be the first time in history that BTC has fallen below the bottom boundary of its log curve. But as you can see, it looks very likely that BTC will pump from here.

so no red september?

who cares about stock rsi you fucking poorfag autistic incel

just sell when normies talk about bitcoin
just buy when normies make fun of people having bitcoin

simple
fuck your mother
your sister sucks BBC (Big Bulgarian Cock)

>>56057925
The 1M has indeed turned bearish, however it must be considered that it didn't fully top out – it crossed bearish at about 85 points. But certainly it doesn't "have to" reach 100. The 1M would be more bearish if it had already hit 95-100 points, but then again see what it did 2016. But of course it's bearish that the 1M crossed bearish at the same point level as in July-August 2019 – just like it was bullish that the 1W crossed bullish at the same point level as it did in late November 2022.

Consider also the 6M. The 6M is very low and hence overall the situation is overwhelmingly bullish, but the 6M being where it is doesn't prevent the 1M going down or in other words the 6M doesn't prevent the market being bearish in the shorter term. If the price drops below the bottom of BTC's log curve and there's massive panic and fear and some huge sell-off event causing a quick flash crash to sub 10k, that wouldn't have any effect on the 6M and wouldn't have any huge effect on the 1M either (the 1M could perhaps go to somewhere between 40 and 60 points and BTC is at 9k and then market turns bullish and the 1M reverses and the 6M starts rising sometime after).

>>56057943
MUH LOG CURVEEEEEEEEEE
kys

>>56057925
lol

>>56058034
>>56058042
>a seething namefagging tripfag, who's saying "normies"
You have to go back.

>>56058377
>first get in this thread
Checked. Yeah, that guy's posts... check them in other threads. He's clearly a JIDF jew larping as a European. He's anti-Bitcoin and keeps posting anti-White stuff and degenerate shit aiding the jews agenda.

>>56058610
And his first post was in a reddit thread shilling something intended to steer people away from crypto. How unsurprising.

>>56058610
>>56058677
OP's posts triggering that jew indicates that OP knows exactly what he's talking about. It means this thread is important.

>>56057906
>>56057920
>>56057943
>>56058037
10/10 analysis.

>>56057920
>Dec 2021
>Your indicator bottomed
>the crash had just begun
>May 2022
>Your indicator bottomed
>The crash continued
So it may go up again for a bit before going back down harder or it might drill straight down from here or it might pump. Ok thanks keep us posted.

>>56059193
> >Dec 2021
> >indicator bottomed
> >the crash had just begun
You're either a shill knowingly lying to mislead anons, or you're mentally handicapped, or extremely new to Stoch RSI (which isn't even an "indicator" but just a visual representation of the market) and don't understand it at all.

The 1W got close to the bottom in December 2021 and then fell lower until late January 2022 where it turned bullish and rose. From there it violently pumped from 33k to 48k. Then it (the 1W Stoch RSI) turned bearish and fell as BTC fell in price more than it had risen (the falling had greater relative strength than the preceding rise).

>>56059193
> >May 2022
> >indicator bottomed
> >The crash continued
And what was your intention with that "water is wet"-tier statement? It's like you were thinking "ahah, I've exposed OP" or some shit like that, which is bizarre and retarded since OP specifically brought attention to that. He wrote, quote:
> "or the market sentiment continues to be bearish from here in which case the market is repeating the May to June situation where the 1W Stoch RSI stayed near 0 for an extended period of time"

BTC continued to fall so the relative strength (of that downward movement) kept increasing which naturally kept the 1W bottomed. The moment the 1W turned bullish (stopped being bottomed) in late June 2022, from there BTC rose from 18.6k to 25.2k.

>>56057920
>it will either go up or it will go down
incredible analysis

Lagging indicator + the pic in op shows that AFTER hitting 100 the price soared

>>56057943
It falls below the log curve all the time, they just adjust the parameters so that it fits. The logarithmic regression isn't a constant function, it's just one they update so it always fits the model.

RSIcels were calling for a BTC crash since well before the rise above 30k. The lot of you got systematically wrecked calling for a local top around 24k. Now you're back saying we've bottom. Lol. Lmao. See you at 18k.