/biz/ - Business & Finance

what? pls explain to brainlet

lol doesnt my id almost say pajeet

Bounce is long overdue

That's just the USD getting much stronger causing BTC to LOOK like it's fallen but that's only in relation to USD. It's an optical illusion that you can choose to believe if you want to stay poor.

>>9926109

volume is dangerously low. bloody monday

>>9926249

This meme is even more stupid than June 6th bounce

you can't mix support/resistance for divergences. you used resistance on the price and support on rsi, that's wrong.

The challenge is still open to bulls, present a case on a 1M chart.

>>9926245
you literally drew a random memeline

>>9926347
Is not random. We're heading to 20k again

>>9926377
according to your chart, if we can expect bouncing around the mean to ATH to that magnitude, we should also expect an extreme ATL.

BTC = $0.4

is the TA natural or is singularity found from everyone thinking what the TA is. A self-fulfilling prophecy as such

>>9926439
It's analysis. Hopefully as objective as possible. Price doesn't care about your analysis. You can do analysis and if that analysis leads you somewhere nice that's kind of neat. Everyone has their analysis and a posteriori everyone lands where they needed to land.

>>9926293
If you compare the tops you'll also see that price wise they are declining but RSI wise they are inclining

>>9926245
This is hilarious

>>9926109
>>9926245

>making meme lines without candle charts

>>9926181
POO

BTC=~$150

>>9926293
can you explain why you can't mix support/resistance for divergences?

>>9926181
price is going down, but rsi levels are going up. this looks like a bullish divergence, meaning there may be a real bounce soon.

this has more info https://www.babypips.com/learn/forex/divergence-cheat-sheet

>>9927443
doesn't high rsi mean overbought? Why would that be bullish?

>>9926245
>>9927284
Permabulls are really funny
>>9927443

>>9926109
it's the bullcum be prepared.

>>9927479
well, the rsi is still relatively low, actually, it's just that the rsi is showing highER lows, which is a signal of growing strength (at least that's how I understand it)

>>9927507
The RSI has NEVER touched the bottom in the weekly time

>>9927628
i'm not arguing either way, just describing what OT is trying to get at. TA is almost entirely just guesswork anyway. There is no reason to believe that weekly RSI has to go any lower, or touch the bottom, just as there is no reason to believe that a bullish divergence on the daily RSI necessarily means there will be a bounce. It's either going to go up or it's going to go down.

Either way, personally I think we are closer to the bottom than the top, and I am long at this point.

>>9927715
OP

>>9927715
>>9927730
OK

>>9926109
just a shout in case you didnt know
divs only work when youre comparing tops to tops and bottoms to bottom

you cant compare the tops of the chart to the bottoms of the indicator

>>9927374
You want to compare the same temporal points. Also divergences are opposed to price trend movements, careful if you're in the "it works at least 51% of the time" camp.

>>9927771
This looks way more accurate than OP.

>>9927771
at last i truly see

for anyone not realising how they work, the indicators are usually momentum based,
so if youre seeing a divergence on the tops of your candles, it shows the momentum of the buying is slowing down
(same vice versa, if the bottoms diverge its showing the selling power is losing momentum)

divergences are (funnily enough) where prices diverge
the bottoms of your indicator cant diverge from the tops of your candles, bottoms can only diverge from bottoms, and tops from tops

youre *meant* to trade divergencies when you get confirmation
a bullish confirmation is when you take out the previous high on the indicator (pictured)
however as you can see, fairly often waiting for confirmation can mean you get in too late
so quite often people get in before confirmation and just set their stoplosses a bit tighter

the longer your timeframe, the more powerful the divergence is
for example you see divergences all the time on the 1m chart but they dont mean shit.

hope this helps someone xoxo

>>9927924
also if you were using the histogram (white bars) to check breakouts, you'd do it like this and achieve the same results

>>9927771
>>9927924
>>9927960
>completely disregarding every solid TA technique in favor of shitty indicator

>>9927503
wyckoff without volume analysis means nothing im afraid to say pal. you cant just find a chart that looks similar and draw a meme line through your graph

>>9927991
i actually use no indicators on my chart (excluding volume), i was just showing OP how he was wrong and explaining why they form.
pure PA is all i use when i trade

for clarification im a scalper not a position trader, so if i've said anything wrong i'd appreciate a heads up on that

>>9928057
fair enough

>>9926245
>>9927503
>>9927504
>>9927771
>>9927924
>>9927960
>>9927992

>>9926109
it was obvious from the TA

>>9927924
> 50% of the time it works every time

>>9926439
if TA only worked because other people thought it worked no one would have ever been able to discover TA...

the idea that TA leads to price movement by virtue of an agreement between analysts has some broad merits, but the fact is many people trade many different systems and they won't all have the same goals or agree on what is happening, so it's not a great argument.

>>9928746
if this isnt a meme, please do yourself a favour and never trade ever

>>9928853
Is the current state of denialism

>>9928853
Holders have been shilling all the day this meme. They believe it will pump to 9k

>>9930030
from my viewpoint i see a move down to 6200ish
a move up to near enough 7k
a dip below our february low (4800-5500) to stop out longs and engineer liquidity
then we can finally move up and hopefully break aths within a year or two

if youre looking at fractals then there's a chance we pump from here up to 11k and then dump back below where we are now.
im not a massive fan of fractals, but its good to keep them in mind

shorting from 9700 to 10000 is a good plan if we somehow pump to 9k out of nowhere, but i really doubt we do

but thats just me, im not psychic

>>9930186
What are fractals? I see that all time around

>>9926109
>Could it not be more obvious?
ITS JUST A BART MOVEMENT
YOU'RE GONNA BE A HOLDER
WILL YOU EVER FUCKING LEARN
SELL HIGHS AND BUY THE LOWS
THAT'S HOW THIS WHOLE STORY GOES
YOU'LL NEVER BE SMART ENOUGH TO
EARRR-UURR-UURRR-URRR-UURRRNNN

USD looking awfully nice right now. Fiat for life / Ban crypto.

>>9926109
Every time I see the chart..it looks just like the classic bubble. I hope we are all right.

>>9930217
a fractal is a study of the past
the saying is "history never repeats itself, but it very often rhymes"

hence the Wall St Cheat Sheet that always gets posted on here, markets often trend in the same way

according to the 2014 fractal (pictured), this is a strong possibility
but like i said, i dont really take fractals too seriously