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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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11801951 No.11801951 [Reply] [Original]

>there are people who are selling with daily rsi sub 20

really makes you think...

>> No.11801956

maybe they bought much lower.

>> No.11801960

>>11801951
>He thinks anyone cares about "MUH indicators"

>> No.11801969

>>11801960
the people who buy high sell low clearly don't

>> No.11801974

Do you realize there are whales who bought under $10 bitcoins and own hundreds of millions?

And they are ones who are selling now.

>> No.11801988
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11801988

>>11801974
>Do you realize there are whales who bought under $10 bitcoins and own hundreds of millions?

>> No.11801995

When it drops below 25 you sell and when it breaks above 70 you buy. I'm positive this is in the sticky on /biz/ trading lessons.

>> No.11802011

>>11801988
maybe we will have our chance to buy $10 bitcoins next

>> No.11802028

>>11801974
What individual owns hundreds of millions of BTC?

>> No.11802047

>>11801951
Look at ICX's 4h chart and you'll quickly find out that 'buying the dip' on low RSI is a meme.
RSI is a terrible indicator that should never be used.

>> No.11802054

>>11801974
No there aren't. Wallet address balances are public information you know. Go see for yourself you dumb fuck. Exchange wallets are the biggest few top ones, after them no wallet has more than a few hundred thousand.

>> No.11802065

>>11801974
they are true believers
with all these pumps and dumps and they are still holding

>> No.11802073

>>11802047
>doing ta on shitcoins

>> No.11802117

>>11802073
>thinking asset class matters

>> No.11802127

>>11802117
>thinking it doesn't

>> No.11802164

>>11802127
Unironically look up charts for commodities from the 1800s/early 1900s. They all look like cryptopia / KuCoin shitcoins.

>> No.11802217

>>11801951
anon this thing was at 40cents not long ago, are you that retarded?? gtfo or pay the price

>> No.11802273
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11802273

>>11802217
>not a long time ago

>> No.11802288

>>11802273
ok that was a little longer ago..the real bottom is at around 200 usd that's where it was before boomers pumped it to absurdistan

>> No.11802303

>>11802054
> after them no wallet has more than a few hundred thousand.
Oh, is that all?
That's only $553,740,000 USD NOW... Nearly 4X that amount a year ago...

>> No.11802459
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11802459

>>11802288
>the real bottom is at around 200

>> No.11802789
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11802789

>>11801974
>hundreds of millions
there's only 21 million in existence my friend and they aren't even all mined yet :)

>> No.11802811

>>11801951
this is crypto.. daily RSI can stay sub 20 for weeks

>> No.11802852

>>11802811
>first time daily rsi of btc dips below 20
>"as always!"
?

>> No.11802864

>>11802789
Hundred of Millions in USD You brainlette

>> No.11802877

>>11802852
that's what happens when the resistance level that held for like 9 months breaks

we haven't gone this far down since Feb 6th

>> No.11802884

>>11802852
RSI stayed above 70 for more than a year, what makes you think it wouldn't be possible for it to stay below 30 for over a year as well?

>> No.11802905

>>11802884
rsi is 15. fucking 15. it reached 85 only twice and it was on the peaks of the 2 previous bull markets

>> No.11802931

It'll be below 5k this week.
Goof luck

>> No.11802940
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11802940

>>11802905

zoom out fren... we still have a looooong way to go before it hits 15

>> No.11802951

>>11802940
only brainlets use rsi on weekly, as you can see it gets overbought way too much.

daily chart is the way to go

>> No.11803021

>>11801951
bahahahaha OP btfo

>> No.11803076

>>11802459
>>11801988
>>11802273
I swear I'm so jelly about that fucking puppet if I ever see it irl I will murder you and steal it

>> No.11803083

>>11803021
>he doesn't understand the concept of "daily"

>> No.11803100

>>11801951
Well I didn't want to sell but Arthur kind of insisted

>> No.11803261

>>11801951
it's at all time low

>> No.11803369

If btc went back up to 7k right now, you wouldn't say 'oh well, still sucks though', you would be euphoric and happy.
That's why this isn't the bottom. The memecharts tells you this. True despair is sub 2k.

>> No.11803395

congrats on not knowing how rsi works retard

>> No.11803489

>>11803369
>blabla random numbers out of your ass

kys

>> No.11803732

Most people would probably call today a possible capitulation and be optimistic or at least hopeful, for a good reason too. But as long as there's no higher high, it's just another blip on the way down, like 12k, 9k, and so on. You'd get plenty of green wojaks but not an euphoria, no way.

>> No.11803747

>>11803732
>>11803369
forgot the (You)

>> No.11803769

>>11802951
>Pls don't use this laggy 100 year old indicator on weekly charts because my analysis fails

>> No.11803777

>>11803769
>rsi
>lagging
100% brainlet, stop posting

>> No.11803820

>>11801951

RSI doesn't mean shit when we've been building up to a bearish weekly break since December 2017. This crash was months in the making, when support is broken like it was at 6k after such a clear set up and people are panicking and don't know what to do, RSI, B-bands, MACD, all doesn't mean a thing. We a
What doesn't get mentioned often - there are still lots of people who bought on the way up from $1500 onward who are still holding their corns and are still in profit. They are not the whales, and many of them will sell as this sinks lower and lower, adding additional liquidity. So many coins are in cold storage right now, but it won't be this way for long. Many will sell while still in profit, but many more will capitulate.
Hodling really isn't the meme anymore. This early 2017 buyers have been watching this shit tank all year long, and they will panic as their buy in price gets hit.
This shit could sink much, much lower because we went up so fast coming up in 2017 that nothing was tested as support. Our next weekly support on BTC (the only one that really matters at this point) is 2900.
Food for thought to anyone thinking calling bottoms is a good idea, or using indicators in a climate like this. Everyone who's called the bottom at this point and longed it has been wrecked at this point.
If you're smart, wait for a trend change on the daily at the very least, or the weekly if you're smart.

>> No.11803864

>>11801951
Actual capitulation

>> No.11803878

>>11801951
Buddy, RSI can ride either high or low for a looooong time. Low RSI is even more dangerous to bet on because if something is truly fucked it may never come back and will be low RSI indefinitely. At least with high RSI runs you’re basically guaranteed to see it come back down at some point.