/biz/ - Business & Finance

File: 98 KB, 1608x848, BTC Gigasupport Fail.png [View same] [iqdb] [saucenao] [google]

BTC'S VERY LONG TERM SUPPORT JUST FAILED Anonymous Mon Sep 5 19:13:31 2022 No.51275934 [Reply] [Original] [archived.moe]

BTC's gigasupport that's held since March 2013 was recently destroyed. Obliterated. It's now resistance!

Combine this with the extremely bearish Stochastic RSI: On the 1W it's obvious. On the 1M it's less obvious but if you know what you're looking at, then you know (it lingers a very long time on the bottom; over 125 days, at least, left from here until the start-of-bullrun candle and the shooting up of the Stoch RSI: the end of the bear market appears to be in early 2023, and as of writing this the blue is about to go under the orange: >>51274811 ).

>>	Anonymous Mon Sep 5 19:15:20 2022 No.51275959 looks strong to me

>>	Anonymous Mon Sep 5 19:16:49 2022 No.51275981 >>51275934 cope retard

>>	Anonymous Mon Sep 5 19:18:46 2022 No.51276018 File: 59 KB, 1227x580, sup.png [View same] [iqdb] [saucenao] [google] ok, i see what u mean

>>	Anonymous Mon Sep 5 19:19:58 2022 No.51276044 oh no, we have to move the line down by 1 degree now :(

>>	Anonymous Mon Sep 5 19:20:57 2022 No.51276059 File: 83 KB, 645x729, RyYPS00d.jpg [View same] [iqdb] [saucenao] [google] >>51275981 >translation: "i bought at over 60k and have been hoddeling since"

>>	Anonymous Mon Sep 5 19:21:56 2022 No.51276073 File: 66 KB, 575x628, 1658188660606326.jpg [View same] [iqdb] [saucenao] [google] >>51276044 based bagger

>>	Anonymous Mon Sep 5 19:22:35 2022 No.51276082 File: 85 KB, 588x823, q86LPxea.jpg [View same] [iqdb] [saucenao] [google] >>51276044 Then it'd no longer be touching 10 candles and only be touching 1. Dumbo. It would just be a meaningless line then, not a support.

>>	Anonymous Mon Sep 5 19:32:59 2022 No.51276224 File: 33 KB, 303x298, 1634866090959.jpg [View same] [iqdb] [saucenao] [google] >>51275981 >>51276044 Cope and sneethe baggies. The market doesn't care about your feelings and has clearly made its choice: sub 10k BTC it is. Buckle up.

>>	Anonymous Mon Sep 5 19:37:13 2022 No.51276283 >>51275934 >straight line on a log-linear chart of bitcoin oof

>>	Anonymous Mon Sep 5 19:42:10 2022 No.51276342 >>51276082 will you please show me the 10 candles it is touching in the op pic?

>>	Anonymous Mon Sep 5 20:16:21 2022 No.51276777 >>51275934 its over

>>	Anonymous Mon Sep 5 20:18:19 2022 No.51276804 >>51275934 BTC doesn't matter anymore. ETH is the new king.

>>	Anonymous Mon Sep 5 20:54:05 2022 No.51277352 >>51276283 >log-linear Pick one.

>>	Anonymous Mon Sep 5 21:09:53 2022 No.51277597 >>51275959 you probably think tranny dudes in dresses look like women too

>>	Anonymous Mon Sep 5 21:11:27 2022 No.51277627 >>51275934 bullish

>>	Anonymous Mon Sep 5 21:11:49 2022 No.51277635 >>51275934 So just ignore the bullish divergence, right?

>>	Anonymous Mon Sep 5 21:13:43 2022 No.51277671 File: 1.58 MB, 1497x1080, Bobo see the dump.png [View same] [iqdb] [saucenao] [google] >>51275934 How many times do you "people" have to be told this? >BTC >NEVER >EXISTED >DURING >A >RECESSION >THIS >TIME >IT >IS >DIFFERENT

>>	Anonymous Mon Sep 5 21:16:22 2022 No.51277705 >>51276018 This is just statistical noise. But if it goes down further from here, then I can see it conclusively broken.

>>	Anonymous Mon Sep 5 21:19:14 2022 No.51277752 File: 564 KB, 1200x1200, bobo.jpg [View same] [iqdb] [saucenao] [google] >>51275934 >the end of the bear market appears to be in early 2023 Try 2027 sweetie.

>>	Anonymous Mon Sep 5 21:19:22 2022 No.51277753 File: 9 KB, 211x238, 84869448.jpg [View same] [iqdb] [saucenao] [google] lol k

>>	Anonymous Mon Sep 5 21:23:57 2022 No.51277836 Drop to $14-16k and hold that channel until it flags up to $25k next month

>>	Anonymous Mon Sep 5 21:25:00 2022 No.51277859 File: 300 KB, 730x676, 1576208189396.png [View same] [iqdb] [saucenao] [google] >>51276224 >>51276804 >>51276777 das rite, it's going to ZERO https://www.youtube.com/watch?v=iUw2cOGAWMg

>>	Anonymous Mon Sep 5 21:27:57 2022 No.51277912 File: 8 KB, 221x250, 1652212563065.jpg [View same] [iqdb] [saucenao] [google] >>51277352 >Pick one.

>>	Anonymous Mon Sep 5 22:30:33 2022 No.51278765 >>51277912 Logarithmic charts and Linear charts aren't the same thing. In fact, they're very different. There's no such thing as "logarithmic linear".

Anonymous Mon Sep 5 22:39:12 2022 No.51278891

>>51278765
Imagine being this retarded. Log-linear means one axis is linear and the other is logarithmic:

https://en.wikipedia.org/wiki/Log-linear_model
https://en.wikipedia.org/wiki/Semi-log_plot

Since bitcoin is not an exponential function of time, log-linear charts are inappropriate. Can you guess what the right kind of chart is? Of course not, you are retarded.

>>	Anonymous Mon Sep 5 22:41:04 2022 No.51278911 File: 102 KB, 353x299, file.png [View same] [iqdb] [saucenao] [google] >>51275934 >the end of the bear market appears to be in early 2023 what charming optimism

>>	Anonymous Mon Sep 5 22:42:04 2022 No.51278931 >>51275934 >very long term support >a line that just goes up forever oh no it didnt go up forever it must be over

>>	Anonymous Mon Sep 5 22:42:31 2022 No.51278939 >>51275934 I’m bearish pretty much everything right now but I don’t give this any serious credibility. I’d rather see a long term MA

>>	Anonymous Mon Sep 5 22:45:56 2022 No.51278999 >>51277671 >there was no recession from 2011 to 2022 you are a fucking retard. Obamas entire 2 terms were non stop stagflation.

>>	Anonymous Mon Sep 5 22:50:07 2022 No.51279077 >>51275934 and then you will move the line again when it doesn't do what you expect and again and again until you get it right and then YOU WARNED US WE SHOULD HAVE LISTENED!!!!

>>	Anonymous Mon Sep 5 22:55:05 2022 No.51279176 >>51277671 Literally every cycle, you faggots come up with some reason why it's different this time. It never fails.

>>	Anonymous Mon Sep 5 22:56:52 2022 No.51279209 >>51275934 the stock rsi is a meme, it pumped into overbought levels with the pump to 24k that was not a big pump

>>	Anonymous Mon Sep 5 22:58:23 2022 No.51279241 >>51279176 He means it’s going to get worse

>>	Anonymous Mon Sep 5 22:58:49 2022 No.51279243 >>51278891 >Since bitcoin is not an exponential function of time it is, since it growns with time

>>	Anonymous Mon Sep 5 22:59:53 2022 No.51279268 >>51279209 Because the volume is low.

>>	Anonymous Mon Sep 5 23:01:26 2022 No.51279301 >>51279243 No, moron. Lots of non-exponential functions grow with time. Stock prices are an exponential function of time, crypto prices aren't. You shouldn't be investing in crypto if you don't even know the right growth model.

>>	Anonymous Mon Sep 5 23:01:36 2022 No.51279307 >>51278891 Based linear enthusiast. Log is cope

>>	Anonymous Mon Sep 5 23:01:48 2022 No.51279310 File: 537 KB, 600x900, 1651297332903.png [View same] [iqdb] [saucenao] [google] >BTC literally dies trying to suppress LINK

>>	Anonymous Mon Sep 5 23:04:12 2022 No.51279358 >>51279241 Yeah, and why should it when TA says otherwise? Muh macro?

>>	Anonymous Mon Sep 5 23:05:45 2022 No.51279380 >>51279301 Lotta of ESLs here lately.

>>	Anonymous Mon Sep 5 23:13:22 2022 No.51279496 >>51275934 Listen to me mother fuckers. We are not seeing the next bullrun until the next US presidential election, and its rewards...or consequences.

>>	Anonymous Mon Sep 5 23:15:38 2022 No.51279523 >>51279380 Knowing elementary mathematics doesn't make you ESL.

Anonymous Mon Sep 5 23:17:17 2022 No.51279539
File: 892 KB, 720x811, way worse.png [View same] [iqdb] [saucenao] [google]

>>51278999
Did you know there's a depression roughly every 100 years, and directly before that depression is massive inflation?
Did you know the last depression, AKA, the Great Depression happened a little under 100 years ago? And that Inflation is at an all time high?
Did you know that the indicator for the Great depression happened in 1920?
Do you know what happened in 2020?
Did you know one of the indicators for a depression is the housing bubble popping? Do you know what's happening in the US, and in China?
Did you know one of the indicators for a depression is a big stock market crash? Do you know what's happening to the stock market right now?
Did you know that a signal for a depression is all time high unemployment? Did you know that the unemployment rate was at an all-time high in 2020?
Did you know that Civil wars are a signal for depressions? Do you know what's happening in the Ukraine, and what China is threatening?
>>51279176
Do you not see the double top on that graph? Double tops are one of the most bearish signals possible, and BTC has had a nonstop bullrun since 2009. This time it IS different, and you will learn the hard way that number doesn't always go up.
>Number always go up though because WAGMI!!! XDD

>>	Anonymous Mon Sep 5 23:17:53 2022 No.51279547 >>51276224 The market also doesn't care about some shittily drawn memelines, kek

>>	Anonymous Mon Sep 5 23:17:53 2022 No.51279548 Didn't read these TA blog posts. Eventually you learn there's only one thing worth buying when you have it all.

>>	Anonymous Mon Sep 5 23:19:35 2022 No.51279575 File: 66 KB, 728x823, 1634077402680.jpg [View same] [iqdb] [saucenao] [google] >>51278891 >linear and logarithmic is the same thing Newfag detected.

>>	Anonymous Mon Sep 5 23:22:16 2022 No.51279621 >>51279575 Nice bait, mongoloid.

Anonymous Mon Sep 5 23:22:17 2022 No.51279623

>>51279307
Using linear charts when zoomed out is the most glaring sign of newfaggery when it comes to charting. You never, never, never use linear when zoomed out like in OP chart. If you ever spot a chart zoomed out that much or more and it uses linear, you can be 100% sure it was capped by an ultra newfag.

>>	Anonymous Mon Sep 5 23:23:32 2022 No.51279650 File: 134 KB, 645x729, 1640743259900.jpg [View same] [iqdb] [saucenao] [google] >>51279623

>>	Anonymous Mon Sep 5 23:25:38 2022 No.51279674 >>51279523 No, I agree with you. People here don't know the elementary basics of trading to begin with, let alone growth models.

Anonymous Mon Sep 5 23:26:51 2022 No.51279693
File: 64 KB, 618x597, 1635704637015.jpg [View same] [iqdb] [saucenao] [google]

>>51279307
Also the "muh log is cope" is a sign you're a baggie. People raging against log charts are almost always baggies who bought near the top and never secured their funds. Same type of people raging against log in 2018, same type of people nowadays: baggies, who whine that "uhhhh log is BOBO COPE!! waaaah!! muh feeels!!" and they genuinely (due to their newfaggery) associate "log" with "bearish" etc, and think log is somehow inherently bearish. This is due to their retardation of buying the top and not stabling up is always painfully obvious to them on a log chart, so they lash out against that reality. So sad and pathetic.

>>	Anonymous Mon Sep 5 23:28:16 2022 No.51279717 >>51279623 This. Zooming all the way out, on a log scale, and then making a straight linear trend "support" is one of the peak retardations I've seen here.

>>	Anonymous Mon Sep 5 23:30:38 2022 No.51279747 >>51275934 That's not the long-term support since 2013. Your line literally uses the march 2020 bottom. The 2013 trend was already lost below 40k.

>>	Anonymous Mon Sep 5 23:33:05 2022 No.51279794 who cares about this shitcoin? by 2023 i'll be luna billinaire

>>	Anonymous Mon Sep 5 23:33:15 2022 No.51279796 >>51279693 You have no clue what logarithms even are, brainlet. If you want to plot a function that grows in a power-law relation to time (like bitcoin), use a log-log chart not a log-linear chart. That way straight lines make sense.

>>	Anonymous Mon Sep 5 23:35:45 2022 No.51279843 >When the stockmarket opens tomorrow https://www.youtube.com/watch?v=1lWJXDG2i0A

Anonymous Mon Sep 5 23:39:12 2022 No.51279894
File: 201 KB, 800x600, log vs linear.png [View same] [iqdb] [saucenao] [google]

>>51279693
This. Newfags like n0/T1CYp want to always use linear charts as they inherently LOOK way more bullish. This makes them feel all warm and fuzzy inside, which is all that matters to them. Zooming out in linear mode is peak newfag behavior.

>>	Anonymous Mon Sep 5 23:44:43 2022 No.51279960 >>51279268 >Because the volume is low why should it matter?

>>	Anonymous Mon Sep 5 23:50:38 2022 No.51280044 >>51279796 I don't think they have the IQ to understand what you mean.

>>	Anonymous Mon Sep 5 23:54:01 2022 No.51280095 >>51280044 I'm convinced they must be trolling.

>>	Anonymous Tue Sep 6 00:22:24 2022 No.51280538 >>51275934 >using wicks

>>	Anonymous Tue Sep 6 00:36:46 2022 No.51280756 >>51275934 >giga support >2 wicks in 10 years

>>	Anonymous Tue Sep 6 02:53:53 2022 No.51282701 File: 16 KB, 183x276, 1654992655371.png [View same] [iqdb] [saucenao] [google] >>51275934 Holy shit it's owari da. I kneel.

>>	Anonymous Tue Sep 6 03:01:35 2022 No.51282805 >>51279539 >Do you know what's happening in the Ukraine, and what China is threatening? Invasion and invasion. Please save those lies about "rebel miners" and "one country two systems" for the internal propaganda.

>>	Anonymous Tue Sep 6 03:17:27 2022 No.51283018 File: 600 KB, 1104x1116, 1636347720809.png [View same] [iqdb] [saucenao] [google] >>51279539 >the Ukraine >the Amerimutt detected.

>>	Anonymous Tue Sep 6 03:19:26 2022 No.51283040 >>51279539 Anon... housing market isn't crashing. According to the boomers in my area. They keep telling me housing market goes up!

>>	Anonymous Tue Sep 6 03:22:14 2022 No.51283073 File: 48 KB, 600x500, pepe.jpg [View same] [iqdb] [saucenao] [google] You are literally doing TECHNICAL ANALYSIS on a CRYPTO CURRENCY. The absolute and entire STATE of this board.

Anonymous Tue Sep 6 03:22:57 2022 No.51283081

>>51275934
You can't reason with these retards, OP. Just let them get rekt you can tell they're retarded by their responses. Just let it take its natural course. When BTC hits $11k these same dopes will realize that they could of doubled up if they would of just listened.

>>	Anonymous Tue Sep 6 03:25:12 2022 No.51283115 File: 25 KB, 622x351, 5A2EC99A-0F63-4937-BE95-754ED063A54A.jpg [View same] [iqdb] [saucenao] [google] >>51275934 >Stochastic RSI

>>	Anonymous Tue Sep 6 04:06:08 2022 No.51283594 File: 442 KB, 596x584, boboscooter.png [View same] [iqdb] [saucenao] [google] OP bags are heavy.

>>	Anonymous Tue Sep 6 05:12:15 2022 No.51284283 >>51279539 Clownworld says that the Fed will turn on the printers after larping about their microdick rate hikes and we’ll kick the can until the world collapse in a nuclear holocaust.

>>	Anonymous Tue Sep 6 06:18:45 2022 No.51284810 >>51275934 SHIT WE'RE GONNA HAVE TO REDRAW THE LINE BROS!! WE CANT KEEP DOING THIS!!

>>	Anonymous Tue Sep 6 06:22:01 2022 No.51284839 pump incoming, chads win, bobos get fucked in boba hole, bulls leaking precoom

>>	Anonymous Tue Sep 6 06:28:15 2022 No.51284893 >>51276044 oh no, that also might mean the chart will not be linear!

>>	Anonymous Tue Sep 6 06:49:29 2022 No.51285073 I'm not the first person to shit on TA, but trendlines are complete BS. The market doesn't see this trendline, it was most likely luck.

Anonymous Tue Sep 6 06:55:05 2022 No.51285149

>>51276283
Whoever has been market making for the past 2-3 years has been using trendlines on the log chart and M2 chart as opposed to the regular BTCUSD chart. Using the two former makes trading easy as shit, whereas everyone who uses BTCUSD is always confused as to what exactly is happening. Simple as

>>	Anonymous Tue Sep 6 07:04:55 2022 No.51285267 >>51278765 >looks at charts all day >doesn't even know the difference between a log-log and semi-log plot. Absolute Chad.

>>	Anonymous Tue Sep 6 07:14:37 2022 No.51285390 >>51275934 Can't wait to slurp at $1

>>	Anonymous Tue Sep 6 07:25:54 2022 No.51285516 File: 7 KB, 229x220, 1653114629604.jpg [View same] [iqdb] [saucenao] [google] >>51284810 See: >>51276224 Learn the basics of charting. You don't get to decide where the support is. The market does that.

>>	Anonymous Tue Sep 6 07:26:01 2022 No.51285518 >>51275934 You forgot one major thing op ! Your support line sucks massive cock

>>	Anonymous Tue Sep 6 07:27:04 2022 No.51285524 >>51285518 It's not his, that support was BTC's support - the market made that the support. And the market dumped the price under that support, turning it into resistance. See: >>51285516

>>	Anonymous Tue Sep 6 07:28:33 2022 No.51285540 File: 7 KB, 229x220, 1659546595819.jpg [View same] [iqdb] [saucenao] [google] >>51284810 See: >>51276082 Learn the basics of charting. You don't get to decide where the support is. The market does that.

>>	Anonymous Tue Sep 6 07:29:41 2022 No.51285550 >>51285518 It's not his, that support was BTC's support - the market made that the support. And the market dumped the price under that support, turning it into resistance. See: >>51285540

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