/biz/ - Business & Finance

This is the end.

No one knows wait 24 hours

>>8310638
If I knew I'd open a position but I can't make any sense of it.
Bear power is strong but they aren't pushing it down below 8.8k
Meanwhile bulls are buying up to 9k. Expect a massive dildo candle out of nowhere to fuck either bulls or bears.

Defently the end

>>8310673
>Anne Lawfull
are you saying the next 24 hours are crucial for btc?

Mex waiting for enough longs and shorts to open up to pull a simulatanous dump-pump

>>8310638
>hes confused, good, keep it up

>>8310734

We're not gonna make it.

>>8310750
did you just accidentally past that MILFs name from the other thread

>>8310638
shitcoin pumps
shitcoin dumps

>>8310638
Bitcoin is kill. You can thank Bitmex

>>8310638

>highly unstable
>past 24 hrs

1st crypto babby

>>8310638
Nothing much, it finally stabilized to it's pre-normie boom phase and will continue to slowly climb.

>past few days there is a massive noontime dump
>today a big pump

Nothing about this market seems natural

>>8310638
>What's happening, biz?

>>8311053
Thank God he did cus I needed sauce on those milkers

.

they're prepping the bull

I just can't handle this VOLATILITY!

>>8310751
This. That point has reached, time to close all positions

Next stop 7.8k, you should be shorting

>>8310638
I'm using these lines are markers to identify a breakout.
the top slightly downward diagonal line is the 50 day MA that we were rejected off of, the bottom upward sloping diagonal line is the 200 day MA that we are holding above, and we have only closed below once, and barely and saw an immediate bounce back above. the line horizontal line at 9400 is a long term support resistance line, the second from the top diagonal line, which has a more negative downward slope is the trend line formed from the highs of our current trend, not including the false breakout we had when we last bounced to the upper 11000's, the bottom most horizontal line is a local support level at about 8500/8400 that we've seen.
note: ignore the curvy jagged lines
we've been trading and consolidating in this range. as diagonal lines converge, the range tightens, and the pressure increases. I am waiting for a breakout of these lines as a sign of either an upward or downward move, as there are numerous strong support and resistance levels and bear and bull signals all in on area that we are trading between. the difficult part is that you need to aviod trading based on a false breakout. the safest trades to take would be after all the lines on one side are broken consecutively and momentum picks up in that direction, but if you want to take riskier trades, you can try to trade based off of some of these lines being broken.
clearly this is important because there has not been a strong move or close either below the 200 day, or above the 50 day, showing a remarkably even number of bears and bulls and a remarkably strong agreement of what the proper price of BTC is.
I would like to see a breach of these regions and a "panic" in either direction, but because of the pressure, we might never get enough momentum for a panic and go sideways for a while and then randomly make a huge move as people stop being so active in the market and one side can build momentum. set alerts, be careful

here's ETH on the one hour, a little clearer picture,
the diagonal line at bottom with the lower slope is the 150 day MA that we've been holding above but at now getting sitting right on top of. the downward diagonal line second from the top is the long term downtrend line excluding the false breakout, the diagonal above it is the upper range for over correction move. the upper horizontal line is a good local resistance line, and combined with the bottom diagonal line with higher slope which is local support forms an ascending triangle, typically a bullish signal, but when it breaks down is usually very bearish
the two bottom horizontal lines mark the basses of the local lows.

on both thi and the btc chart, the hourly MA's are rapidly descending and approaching our current price range. I think these are going to be good signals to watch. if the price can't break above the hourly MA's as they approach the top of the trend, then they will in a sense, act as a ceiling and force the price down some more, ideally forcing the trend downward enough to break all these support levels.
on the other hand, if we can break above the hourly MA's and they start to act as support, as they curve upwards with the recent bounces, they can act as a support or floor for the trend to bounce off of, pushing it above the strong resistance levels

and yeah, i know:
"muh meme lines" and "what does the TA say? it could go up, or down, brilliant"

but the thing is, TA is used to help you identify an edge in the trend. it doesn't tell you what is going to happen, but when you find situations to make sense of using patterns and basic rend-lines and simple indicators, you can then watch to see what the price does. if the price stops following one indicator, but not the other, it gives you an edge on which you can put money on with greater that 50% odds.
best example would be a big ascending triangle, one upward trend and one strong resistance, as they approach one line breaks, the other holds=$$

>>8312989
>>8313815
stop
get some help

>>8312989
last thing to note,
on BTC if we start to curve back upwards in this movement, we may be forming the head of a large inverse head and shoulders with neckline at 11500
this is what I was marking with the jagged squiggly lines on the btc chart so I can watch and see if trend would follow.
if we curve back up, take some profit at 11500, and aim to reenter a position between 9800 and 9500

>>8313879
lol, i know I sound crazy, but I've been watching this for a while and thing I have a decent shot at making a fair amount of money fairly safely. so hey, if it works it works, if not, I'll stop trying to trade for now