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50961885 No.50961885 [Reply] [Original]

>nigger btc breaks down of falling wedge
>no volume dump
>not even an aggressive break down
This manipulated nigger is going to scam pump, isn't it?

>> No.50961943

Bullish

>> No.50961951

>>50961885
*rising wedge

>> No.50961971 [DELETED] 

>>50961885
you already have herpes all over your face
stop sucking cocks, OP nigger

>> No.50962037
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50962037

>>50961885
Bull case is that we test 200WMA and hold it. Bear case is that we have a candle close bellow. No need to over complicate this.

>> No.50962059 [DELETED] 

>>50962037
we didn't even touch it this week, dumbass. It's at 23k
Point is this rising wedge is a load of shit

>> No.50962091

>>50961885

>> No.50962167

>>50962059
We came around $100 above it. Rounding error. That said candle hasn't closed yet and I'd like to see it tested over multiple weeks. TA patterns are memes as far as I'm concerned. Only thing that holds any weight are long term trends.

>> No.50962249

>>50962167
>We came around $100 above it. Rounding error.
No. That doesn't count. We did not touch it this week.
Moving averages are just as memie as patterns. It was on the daily too. They become a joke with they have no volume

>> No.50962876
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50962876

>>50962249
Historically we have "tested" the 200WMA by coming very close to it without touching it, depending on which exchange data you are using. Pic related is Coinbase data. I wouldn't be surprised if we touched on some exchanges, but it's really pedantic and I'm not gonna take the time to look. You can see the same in March 2020. Both times BTC rocketed off after testing, even though we held just above it and didn't actually touch it. MA are not 100% reliable obviously, but they are way more reliable than TA patterns. Patterns are constantly invalidated by unforeseen events, large trades, a tweet by a prominent figure, etc. Moving averages are more resistant to short term fluctuation and tell the bigger picture.

>> No.50963041

>>50962876
Real world is 99.9% irrelevant to price action. And yes moving averages are just as memeable. Why? Whales use both for their bots i.e. both are self-fulfilling prophecies

>> No.50963122

>>50961885

>> No.50963194

>>50963041
Price action is a reflection of human psychology, and human psychology is affected by real world events. If Satoshi was doxed tomorrow as a pedophile, BTC would almost certainly dump even if we were breaking out of a bullish pattern. Look at the Covid dump that invalidated the bullish breakout. That's why TA is called astrology for men. Long term MAs may be self-fulfilling, by at least they are reliable.

>>50963122
>>50962091
Broken bot?

>> No.50963246

>>50963194
>Price action is a reflection of human psychology, and human psychology is affected by real world events.
Wrong wrong wrong. By your logic even the moving averages would be affected by the real world events. In truth whales control price action. You think it's retail which is wrong.

>> No.50963264

>>50963194
>Long term MAs may be self-fulfilling, by at least they are reliable.
You're a fucking hypocrite
Whales manipulate price using both. You can't just pick and choose to fit your narrative.

>> No.50963277

>>50963194
long term MAs are TA

>> No.50963638

>>50963246
The 200WMA is affected by real events to a degree, but it acts as a filter in the sense that it is resistant to short term volatility to the point that it renders short term movements irrelevant. The Covid dump for example was extreme short term volatility caused by real world events that had little affect on the 200WMA.

>>50963264
How does that make me a hypocrite? I already said that the 200WMA is not 100% reliable, although it has been very reliable to this point. I think it's safe to say people who have been in this market for a long time trading long term trends like the 200W have made way more money and with less stress and less time invested than the day traders. If you ever bought BTC at the 200WMA, you are in profit right now. Who cares about the day-to-day when we are sitting at that point again?

>>50963277
That's why I've been specifically speaking on "TA patterns" like the falling wedge mentioned in OP. If these short term patterns were reliable everybody would make money in this market.

>> No.50963703

>>50962037
>reading the patterns that whales print for you
How fucking new are you? lmao

>> No.50963709

>>50963638
Bruh. ALL patterns and MAs are fair game for whales. Longer time frame = more accurate. Simple as.

>> No.50963921

>>50963703
>muh whales have minute control over the 200WMA
meds now

>>50963709
Even if whales have control over the 200WMA, as you are claiming, what difference does it make? Seethe all you want, this has historically been the best time to buy BTC, without fail. Don't know why that upsets you so all so much.

>> No.50965001

>>50963921
>as you are claiming
It's not magic. It gets bought up there because whales put their orders there. People don't get this about the markets. TA isn't astrology. It's a self fulfilling prophecy because whales are the ones that make it work in the first place

You're also struggling to read. My point is whales use both moving averages AND patterns. Not JUST moving averages