/biz/ - Business & Finance

>>56831656
I don't care about what you posted. You write too long, maybe consider writing shorter and with less reddit spacing cunt. I'm still buying more since 56k BTC is guaranteed.

>>56832038
It'll be below 30k again before it hits 56k

>>56831656
lmao literal astrology is a better predictor than your method without any systematic basis.

>>56832046
i have buys set to 15k and 3500 (CME gap)

>>56831656
Your top line is poorly drawn. Fit to the wicks properly and we are above the top line; this means we are potentially breaking out.

hahaha what an amateur. how long did you spend trying to make these thick lines line up and youre still inconsistent.

awful , just stop

>>56831656
Wedges are reversal patterns in their given trends retards. You dont use it like this

i miss TLB Thick Lines Bobo

>>56831656
>Rising Wedge
Don't know what a Rising Wedge is, but I sho' as fuck know what an ETF is

>>56831656
>I drew two lines
Yeah. not reading all that nerd. See you at 200k

>>56832143
This but not in a whale's game

>>56832091
kek, noticed this too
I was trying to make a memepic with a 10x thicker line but that was the thickest they allowed

>>56832344
Most tards here don't know what ETF is about. Most of the investment savings in the public hands are held in 401ks and other retirement accounts. These accounts let them invest in stocks with that money, but they cannot take the money out for cash without huge penalties because it's tax-free. As such, the largest pool of investment funds is UNABLE TO BUY BITCOIN. That's what an ETF is for - it allows people with their money in a 401k to buy bitcoin.

ETF's represent the largest potential inflow of retail cash into BTC that is possible.

>>56831656
based

>>56832091
>what are wicks
>what is timeframe
That's a Weekly chart so obviously 100% pixel-perfecttion doesn't matter with the wicks. Wicks can go much more above or beneath than that, makes no difference, the structure is what it is. The market doesn't care about your cope.

>>56831656
All I know is NURL is at 44%, & the last time it was that high we crashed from $43,500 to $16,000. I'm not touching bitcoin in this market. This is a bear trap as OP stated.

>>56831656
All I know is NUPL is at 44%, & the last time it was that high we crashed from $43,500 to $16,000. I'm not touching bitcoin in this market. This is a bear trap as OP stated.

>>56831656
It's amazing how people can draw two lines and then write a whole paragraph on it like they did something. Not even a calculation to be seen, just eyeball work.
Oops, price breached your drawing. What now? You should invalidate your idea, but instead, you'll draw new lines and call it good.
Please try to formulate your theses on something other than doodles. This isn't a football playbook.

>>56832378
If the ETF comes along soon they're gonna be buying into a highly restricted supply. Bitcoin has become fairly hard to come by in the past year and I guess no one was looking.

>>56831656
So we breakout then backtest a lower range? Sounds good to me.

>>56831656
The ETF being denied will cause a downwards breakdown of the rising wedge support and will plummet Btc to around 25k. This will be the post halvening crash before bullrun starts

>>56831656
>meme lines
>rising wedge
>fake out
>market structure
>bull trap
>bear trap
>only buy what you can afford to lose
>trading range
>break out trading
>market fluidity
>rsi
>trading plan
>inverse
>liquidity
kys shill

>>56832344
>>56832378
Historically there is nothing more bearish for crypto than ETF news and hype. You're behaving just like the 2018 newfags (those who entered crypto in 2018) were behaving back then, salivating over the ETF meme, hypnotized by it. ETF news effectively functions as a bearish signal. When we see bulls using the "muh ETF" argument, that's a social indicator the price is about to go south big time.

>>56832704
Why again? Don't say "because now tuti fruiti can short it"

>>56831656
In conclusion; gongo

>>56832603
Of course, yes. EVERYONE agrees and understands that there MUST be a pre-halving crash. Yes. EVERYONE. It's simply inevitable.

>>56832704
>Historically there is nothing more bearish for crypto than ETF news and hype
news and hype are bullshit. I'm talking about actual, real ETF's existing, which is followed quickly by money pouring in to buy BTC.

>>56832504
What a childish post. Those "lines" are irrelevant. The rising wedge is right there, on the chart, regardless of them. Those "lines" are simply a visual aid to help people more easily see the structure the market has generated through Bitcoin's price action, which is a rising wedge. Remove those "lines" you're so fixated by and allergic to, and the structure remains and the market still has traded Bitcoin the way it has.

>>56832504
>price breached your drawing. What now? You should invalidate your idea,
Writing that also demonstrates a childish understanding. Nobody "draws" anything on a chart and thinks BTC (or whatever asset) has to "follow" or "obey" the "idea" or the "lines" or whatever. Again, the "lines" are merely a visual aid. If the price goes outside the structure, which is there regardless of the "lines", then that is either bullish or bearish depending on the direction (and depending on what sort of structure it is). If the price drops below the rising wedge, then you have confirmation of a trend reversal, the price is heading down a lot. And if the price goes above the rising wedge in a proper manner and leaves the wedge behind, that's confirmation of continued bullish action. If that occurs here it would be extremely bullish. Continued bullish action despite a rising wedge is rare and would demonstrate extreme strength of the bulls.

>>56832504
Was this: >>56833037 too hard to understand? Okay, let's take a more simple example: picture a long term simple horizontally flat support; an asset continually retests a support over and over again, retesting roughly the same price over and over again (which is what happens if the support is horizintally flat; if the support goes upwards the same price wouldn't be retested over and over again but rather the support itself would). That support is there, on the chart. You can see it. But if you want to make it easier to see, then you visualize it graphically using a line. Get it? The price of the asset has still done whatever it has done regardless of that line you just put there - the support was already there prior to you visualizing it graphically. And by visualizing it graphically with a line, you're not saying "this line will prevent the asset from falling below the support" or "this line will cause the support to fail" or any nonsense like that. You merely visualized the support. Since you're easily able to see the support thanks to that line, you can easily see what is happening. If the price has repeatedly bounced from the support but then shows weakness and begins to struggle to bounce and suddenly drops below the support, you know that's bearish as you then know the support has failed. See? The support you visualized aided you in understanding the situation. Your visualization of the support was not done to "cause" the price to do anything.

>>56832704
>ETF news effectively functions as a bearish signal
Think again, pic related

>>56832603
>ETF being denied will cause a downwards breakdown
Agreed, but difficult to bet against Fidelity, ARKK, and Blackrock, Note these institutions are also major holders of BTC miners.

>>56832143
>thinking OP is saying rising wedges are bullish and indicate trend continuation
He's saying they're bearish, which is correct. And you're unknowingly backing him up and agreeing with him. The trend is indeed about to reverse, as you point out. You like many are confused by the "rising" part of the name "rising wedge". It may feel paradoxical, but the word "rising" does not mean continued bullishness of the trend will be the outcome but rather the reverse. The word "rising" merely refers to the trend direction that makes up the wedge. This isn't difficult. During the growth of a rising wedge, the trend of the price is up. Such a "rising" wedge is bearish, as the structure indicates a coming trend reversal = price about to dump. During the growth of a falling wedge, the trend of the price is down. Such a "falling" wedge is bullish, as the structure indicates a coming trend reversal = price about to pump.

>>56832080
15k was the bottom, never ever happening again

>>56831656
Oh good another reddit GME tourist TA retard stinking up the board. SAD.

>>56832781
>why
Obviously because dumpage following ETF news is just what happens in crypto. If you were here in 2018 you know. If you weren't here, then of course you wouldn't know.

Thick line retard from last cycle is back.

>>56833608
kek

>>56831656
>MUH LINES

>>56833037
>>56833067
none of this means shit, if the price goes a little above or below the line/structure and then back into the line/structure you will just say 'ha! it was a fakeout' so how much does it have to go out of the structure to be 'CoNfIRmEd' trend reversal? and as I understand at that point shorting/longing in that direction is bascily free money right? no retard, it's still 50/50 it either goes up or down, if a bunch of twitter circlejerking twitter ta 'experts' notice a pattern and jerk their dicks to it guess what the whales sometimes do? they push the price in the opposite direction to wipe out those smug idiots, but sometimes they don't so that it can't nbe counter traded either
TL;DR it;s all fucking gambling BS and nobody knows whether the price will go up or down or in fucking circles as the movie qoute goes

>>56833759
>t. seething low IQer

>>56832423
yea it's kind of why I hate so many people in business/finance.
yea, the shitty drawing is not a *perfect fit.
there's always some outliers.
and his graph is 95+% correctly fit.
someone may want to sperg with calculus and want it perfect, but for what.
I'm trying to make big money, if btc is off even $1k on a price prediction, come on, who really gives a shit.
I'm interested in the 10x not the 1.1x.

>>56833767
>t. seething midwit

Draw the lines thicker you worthless fucking cunt

>>56833767
if TA worked, TA experts would keep that knowledge to themselves to make money trading instead of selling books and courses to gulible retards
>muh wedge
>muh head and shoulders
>muh RSI
>muh MA
>muh this muh that
then retards realize that most of the time if you look at all the current patterns at the chart and indicators they all contradict eachother because there is tens if not thousands of them, let alone checking them at different timeframes at once, it's all bullshit
it's always poorfags with $1000 portfolio that get high on the TA magic, you never hear people like Saylor getting excited by inverse Cock and balls on a chart

>>56831656
btc has broken upward from a rising wedge before every one of its previous bull runs

>>56832038
first post based post

>>56833794
>no you

>>56833810
it just sounds like you're salty and never figured out how to do it.
maybe try taking one of those courses you're bitching about lol.
did you walk out of your statistics course in college because ahghgh probability is gay and fake.
humorous.

>>56833759
>>56833810
Too bad for you the global market doesn't care about your feelings and is trading the rising wedge in this very moment and has been for months and months, irrespective of your very existence.

>>56833884
>>56833908
show me your shorts then
I mean it's muh rising wedge, it would be stupid to not take this oportunity to make money on such an obvious trade right?
>i-it's not h-how it work retard i-i-it's m-much more complex than t-that

you sure showed me
go check your TA book that someone scammer shoved down your throat, maybe there is some table with probabilities for each pattern, and maybe even some einstein level calculus when a bunch of indicators contradict eachother

>>56831656

>>56833954
>if you're not shorting a bearish wedge then TA is always wrong!
well, I guess that explains why you're so assmad.
this concept of probability is too foreign.

>>56833954
>a rising wedge means the price is only going down, so shooooort waaah
An actual brainlet detected.

>>56833884
He's obviously a baggie. The anons frothing with anger at charts, they're always doing so when the chart is bearish. Whenever the analysis shows something bullish, they 100% support the analysis and the indicators used. You almost never ever see that sort of unintelligent emotion-driven rage-posting when the OP is bullish.

>>56831656
why are you here. get in reddit retard

>>56834096
>>56834104
>TA works because it just work m'kay? I'm not trading this pattern/move but that doesn't mean it doesn't work
I guarentee you are both poorfags thinking that playing russian roulette will finally work for you and the fact that 90% of 'traders' lose money is because they don't know TA, I'm sure you will outcompete all the whales, insiders, exchanges hunting your longs and stops, algos and 160IQ armies of asian nerds at all the hedge funds

>>56834136
>the whales, insiders, exchanges
...are the ones who created the market structure they've been trading within and still are, the structure you're so upset by.

>>56834136
don't listen to anyone here.
nobody knows what they're talking about.
what you need to do is invest in index funds etfs.
you can't be the market!
instead you just passively dump money into mutual fund ponzis that get front run by everybody else because their purchases are pre-announced.
that's the only way to make money.
oh, and don't you DARE not max out your 401k contribution.
the tax savings are literally free money.
don't forget to take your estrogen pills today.

all this crpytocurrency stuff is scary!
only invest what you can afford to lose!
do not take out a loan and invest it!
low and slow is the way tooo goooo!
I'm gonna open an account with vanguard and setup auto-purchase every month.
my fidelity account says I'll have $4 million when I'm 62!

only poorfags use TA.
I'm going to be a RICH grandpa.
then I'm gonna fuck a bunch of 45 year old zoomer sluts.
deal with it.

>>56831656
TA is bullshit, but you're right - it's risen too much too quickly and will pull back significantly. Might even get under 30k again briefly. Hold your cash and ready to pounce when that happens.

>>56832344

You know of the phrase "Sell the news", right?

great post OP and discussion, much needed here lately. Carry on gents.

>>56834445
it's going 45k next month

>>56832081
You're ignoring the bottom line, how the wicks look in it. The top line is the same, see? They are consistent with each other, following the same rules, what's allowed in the bottom line is allowed in the top line. In the bottom line a wick goes into the line like 5-6 pixels and to the left the wicks go in only 1-2 pixels and some wicks just touch the outside of the line and some wicks are a few pixels away from the line. Same as in the top line. So it's consistent.

Totally meaningless to argue about though. And meaningless to say "it might be a 1 pixel above the line so it means it's breaking out" etc. #1 because supports and resistances aren't hyper precise, the trading is done with price levels or areas in mind, not exact numbers or pixels. #2 because if BTC would bullishly break out of the wedge (not some shitty fakeout) you'd instantly know, it wouldn't be crabbing around at this level, it would very quickly explode upwards above 40k.

>>56833115
Price was already rising. The bullrun had already begun. That was the equivalent of the ~1979 market situation. By your logic there must've been an ETF in ~1979 as well.

Rising wedges are indeed bearish faggot but they’re also one of the less reliable indicators. You need to look at volume and candles on a longer timeframe and lastly refer to an oscillating indicator if you’re not sure before making a judgement.
Nigger.

>>56833115
Irrelevant comparison as BTC isn't gold and most importantly there is no Bitcoin ETF, only the news/rumors/buzz/talk about one -- and that's what's bearish. In the past what follows or accompanies Bitcoin ETF talk is a huge fall in price. So yes, it's pretty bearish that we're hearing all this talk about an ETF.

>>56832344
>>56832378
>>56833143
>muh ETF
>muh INSTITUTIONS
holy shit... looks like sub 10k is actually happening

lol coping-ass niggas...there have already been BTC pumps on RUMORS of the ETF approval.

Bitcoin soars to near 18-month high as ETF speculation mounts
https://www.reuters.com/technology/bitcoin-leaps-2023-high-etf-bets-2023-10-24/

uhhh tf happened here bros? Google misreporting?

>>56836103
>there have already been BTC pumps on RUMORS of the ETF
lol coping newfag nigger
>July 2018: "Bitcoin Price Jumps as World’s Biggest ETF Provider BlackRock Looks to Get Involved"
https://bitcoinist.com/blackrock-involved-bitcoin-etf/
>October 2018: "The price of Bitcoin shot up to highs that it hadn’t seen in months as the world eagerly awaited the ETF"
https://www.financemagnates.com/cryptocurrency/news/analysis-would-the-coinbase-blackrock-etf-be-the-industrys-magic-bullet/
>price dumps to 3k

Tired old meme. Newfags keep getting duped by it and baggies latch onto it.

>>56835497
Yeah, don't buy

>>56832038
Why do newfags not know what reddit spacing is? Stupidity?

>>56836585
>Tired old meme.
Yes real tired with all the largest financial firms and funds. I guess we'll find out in January.

>>56836786
>muh institutions cope
bearish post

>>56832038
t. brain damaged idiot

>>56836900
Institutions already bought into BTC miners, pumping the hell of out MARA. Alot of us are doing well- you should try it.

>>56832038
>OP is redditspacing
With that, you outed yourself as being from reddit. You don't know what reddit spacing is, because you're so used to doing it.

>>56832049
>lmao literal astrology
Cope moar and eat moar shit. Your kind ate shit years ago and you keep eating shit. You can't stop. You'll forever keep on eating shit.

>thread still up
Nice. This Educational Thread has been a great success. Many anons were educated. All who attended school are gonna make it!

>>56831656
Your chart literally tells you that it's time to buy ETH.

>>56831656
Really solid thread an analysis. I''ve been wanting to make a thread in a couple of days highlighting the need to use competent tools to analyse the data. Mainly because i see that the use of dextools is generalized and only the most specialized of traders here use dexscreener which is by far superior and without the need to worry about tampered data or tokens magically getting to the top because they paid the devs. Wallet analysis, copytrading, trending movements on specific patterns. The average anon can still learn a lot about trading. Anyways, thanks OP. Good thread

>>56831656
>The price almost always breaks downwards
no it fucking doesnt. ta patterns have like a 60% chance at best

>>56832046
>that seething
>that id

>>56835968

>>56838917
>rising wedges don't almost always break downwards
Learn2basics and lurk a few more years in the market.

>>56831656
Tldr. Bobo cope

>>56832344
Checked. I will effortpost because I want to give back to you. Money and investments go wherever they please. I assure you that wall street and companies can get as much crypto as they want whenever they want. There are canadian products. and etfs that are already available, not to mention other global products offered elsewhere. If american money wanted crypto, it would flow overnight into these canadian or foreign etf's, in order to front run the narrative. Ppl think that US based etf like vangard or ark or whatever the fuck means capital will flow into crypto as a result, im telling you if it was a sure trade, institutional money wouldve frontran the trade. Yet we will see that this is a sell signal. Ask yourself how many people need the price to go up. Do you really believe that these institutions will give you free money, as the economy turns to the shitter and yields start dropping? As the demand for "safe and liquid" picks up amid global turmoil and uncertainty?

>>56831656
Yes you're correct, this isn't the only reason there's a shit ton more confluence though. Will break below until post havening, then eoy will be feeling like 20/21 vibes getting past 20k (69k).
I'll be pulling profits out 42-44k, even though it wouldn't surprise me if we wicked into the mid 50s.

>>56833884
>probability is gay and fake
I did a masters in statistics and currently work as a data scientist and i can confirm that probability is both fake and gay

>>56841202
the fact that everyone thinks ETF will be a sell the news event guarantees it will be a tremendous buy the news event

respect the pump, anon

>>56831656
>>56832046
The absolute cope. A market isn't solely traded on its meme patterns. If it were, then events such as monetary policy, war, government decisions, etc etc wouldn't effect them. Imagine being so butt flustered that you seriously think fudding on /biz/ will get the market to dump back into your preferred buy in range.

>>56841202
>institutional money
Great stuff, thanks for laying out the argument.

My opinion is that the ETFs are not about "institutional money," but rather giving individual boomers the option to buy themselves... with a massive pile of tax-free money. I believe this will result is a huge inflow of money into BTC, which will pump the price.

>>56831656
Excellent analysis.
>If the market keeps BTC at the top of the wedge for a while longer, then eventually the price will be at 40k. It's that simple.
Indeed. Many people are shocked and confused by the price rising. We're seeing that right now. It's inevitable the price goes up when it's hugging the top of a rising wedge.

>>56843801
this is what's gonna happen.

Friendly reminder OP is the same faggot who posted https://archived.moe/biz/thread/56679278

dont get shaken out anons

>>56831656

This is a good post, and I am proud of you for making it.

>>56843865
Absolutely bizarre yet interesting post. Worth dissecting. First off not everyone who knows about basic chart patterns (like Rising Wedges) is the same anon. And that guy didn't even claim anything specific was going to happen, so what might be your point? He didn't say "it's going to crash from here, to x price" or anything like that. That OP is just a bunch of "if that happens, then likely what follows is..." statements. And just so you know, with "It topped at 37950" he's obviously referring to the 4H Stoch RSI at that moment, not the price. That's crystal clear if you read the preceding sentence: "The 4H Stoch RSI has now topped and is falling." Trying to make sense of your post. Most probably what happened was you saw "It topped at 37950" and thought it referred to the price, and thought "Aha, now I got those evil TA-users, they're exposed!". Next time pay more attention.

>>56844275
>basic chart patterns (like Rising Wedges)
<--- The very basics, the most fundamental stuff of charting.

So many raging seethers ITT sperging out emotionally at high IQers just because they're not posting bullish posts.

Extremely bearish.

>>56831656
Your "TA" is ass. Post p&l

>>56831656
Hey, I remember this one!

>literally zoom out
>all my shapes go out the window
>I’ll just make up new shapes
TA is for actual retards