/biz/ - Business & Finance

[Anonymous No.17296169]

Imagine being a bear this close to a golden cross

[Anonymous No.17296247]

>>17296169
nice buzz words faggot, look up dead cat bounce.

[Anonymous No.17296436]

>>17296247
thanks mate, ill get out now while i still can

[Anonymous No.17296469]

>>17296169
Not only that. There's also cup and handle forming.
>>17296247
Cope, dumb faggot. I swear bears have IQ lower than outside temperature.

[Anonymous No.17296799]

imagine reposting twittertards on biz
unbelievable

[Anonymous No.17296864]

>>17296436
damn that July 2014 golden cross went well

[Anonymous No.17296882]

>>17296436
the July 2015 too

[Anonymous No.17297216]

>>17296882
>>17296864

That's just an anomaly! TA really works!

[Anonymous No.17297269]

Bitcoin pumps after a death cross, always dumps after a golden cross. Get it right, Anon.

[Anonymous No.17297556]

>>17296169
damn, just like that late oct 2019 death cross was supposed to doom BTC... nope just scammed 1.5k over the cross.

[Anonymous No.17297559]

>>17296436
Did not expect this level of basedness. Bravo.

[Anonymous No.17297729]

>>17296169
>>17296436
What the fuck is a golden cross? These two MA lines crossing, right? But why these MAs in particular? For instance, why the fuck do we even use the 200DMA, you know, instead of 100? Just convention? All of this stuff seems completely made up.

[Anonymous No.17297764]

Do meme crosses mean anything if everyone knows they're coming?

[Anonymous No.17297781]

>>17297729
TA is literally astrology

[Anonymous No.17297792]

>>17297729
>What the fuck is a golden cross?
It's when the 50 SMA crosses up the 200 SMA. Traditionally, it's done on the 1d timeframe, but I've seen people talk about weekly golden crosses and 4h golden crosses.

>why the fuck do we even use the 200DMA
In traditional markets, there are about 200 trading days in a year, so that's why 200 was chosen.

[Anonymous No.17297814]

>>17297792
So, for buttcoin, which trades around the clock 24/7, it's complete fucking horseshit? Why do we use it then?

Also what the fuck is an SMA and how is it different from the regular MA?

[Anonymous No.17297816]

>>17297729
>All of this stuff seems completely made up.

That's because it is. But if enough people believe it's true..

[Anonymous No.17297827]

>>17296169
Imagine being a retard

[Anonymous No.17297828]

>>17297729
see this question
>>17297764
if everyone knows they are coming, every one is on the same rocket ship

[Anonymous No.17297836]

>>17297816
I get stuff like resistance and support and stuff that comes as a result, like descending triangles. These seem real enough to form some sort of self fulfilling prophecy. But real talk. If we look at more obscure bullshit like elliot waves, they don't work because not enough people trade according to them, so this is not enough to influence the market. Are there any studies to show which TA concepts are the most believed in?

[Anonymous No.17297838]

The last golden cross we had was on 2019-04-24 where bitcoin dumped into support and then launched a few days later to start its journey from 5.1k to 13.9k.

>>17297814
SMA is the regular (or simple) MA. That's just how I like to say it.
Also, there are people who use 365 periods for their *MAs when trading crypto. 200 periods is used mostly due to tradition, but as long as its respected by traders, it's useful.

[Anonymous No.17297860]

>>17296436
good post

[Anonymous No.17297863]

>>17297836
>Are there any studies to show which TA concepts are the most believed in?
For chart patterns, there's this: http://thepatternsite.com/BestPatterns.html

[Anonymous No.17297872]

It's not weird to dump into a golden cross before launching.
Conversely, it's not weird to pump into a death cross before dumping.

[Anonymous No.17297944]

>>17296247
Literal brainlet

[Anonymous No.17298008]

>>17297836
>These seem real enough to form some sort of self fulfilling prophecy
yep that's basically TA
most looked at are RSI stoch RSI and macD then 50 100 200 MA on the 1D and 1W time frames
then you have chart pattern in pic related and candles pattern

[Anonymous No.17298019]

>>17298008
candles patterns

[Anonymous No.17298054]

>>17298008
Can someone please give me a quick rundown on RSI and MACD?

>>17298019
Why don't we use some deep learning AI to find some better correlation between candles, market sentiment and price instead of relying on this fucking horseshit?

>three white soldiers
It's like an 8 year old boy visited his fathers job at a hedge fund, made up these terms, and somehow people actually started using them.

[Anonymous No.17298151]

>>17298054
in RSI you're basically looking for divergences pic related
macd is mostly about long them trend reversal so it's mostly used on large timeframes

and yes it's all BS but believe it or not many many traders and most bots are using this shit to buy and sell

[Anonymous No.17298227]

>>17298151
>macd
You can look for divergences on MACD too.

>>17298054
Divergences are great for finding potential reversal points.
https://www.babypips.com/learn/forex/divergence-cheat-sheet

[Anonymous No.17298333]

Right now, bitcoin is showing the potential for hidden bullish divergence which is a continuation pattern.

[Anonymous No.17298425]

>>17298054
>It's like an 8 year old boy visited his fathers job at a hedge fund, made up these terms, and somehow people actually started using them.

It was actually a Japanese rice trader who invented candlestick charts and developed a system of candlestick patterns. This happened before computers existed.

[Anonymous No.17298554]

>>17298425
this, also i like his candles better than the default ones on most charts

[Anonymous No.17298712]

>>17298054
>Why don't we use some deep learning AI to find some better correlation between candles
Implying this is not already done?

[Anonymous No.17298799]

>>17298425
https://alchetron.com/Homma-Munehisa

> Munehisa Homma (本間 宗久, Honma Munehisa) (also known as Sokyu Homma, Sokyu Honma) (1724-1803) was a rice merchant from Sakata, Japan who traded in the Dojima Rice market in Osaka during the Tokugawa Shogunate. He is sometimes considered to be the father of the candlestick chart.

> Around 1710, a futures market emerged for rice, which had previously been traded exclusively on the spot. This system used coupons, promising delivery of rice at a future time. From this, a secondary market of coupon trading emerged in which Munehisa flourished. Stories claim that he established a personal network of men about every 6 km between Sakata and Osaka (a distance of some 600 km) to communicate market prices.

[Anonymous No.17299076]

>>17297814
It doesn't make a difference if you use 200 or 300. A signal is only good if it is robust to variations in the parameters. When a good trade is in, there are a lot of MAs crossing over each other. That's how you know it's not just noise.

[Anonymous No.17299656]

>>17296864
>>17297216
Both lines need to be uptrend.

[Anonymous No.17299814]

>>17296169
im long but i feel like im gonna get rekt first AND THEN it will moon.
i can see it happening

[Anonymous No.17299852]

>>17297872
>Conversely, it's not weird to pump into a death cross before dumping.
i think that's the case right now

[Anonymous No.17299929]

>>17299656
that was not the case in april last year

[Anonymous No.17300059]

>>17299929
You're right. Last April, only the 50 SMA had a positive slope when the golden cross happened. the 200 SMA wouldn't get a positive slope until bitcoin reached the 8000s.

However, this time around, both the 200 SMA and the 50 SMA will have positive slopes when the golden cross happens as soon as today's daily candle closes.