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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 ).
looks strong to me
ok, i see what u mean
oh no, we have to move the line down by 1 degree now :(
>>51275981>translation: "i bought at over 60k and have been hoddeling since"
>>51276044Then 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.
>>51275981>>51276044Cope and sneethe baggies. The market doesn't care about your feelings and has clearly made its choice: sub 10k BTC it is. Buckle up.
>>51275934>straight line on a log-linear chart of bitcoinoof
>>51276082will you please show me the 10 candles it is touching in the op pic?
>>51275934BTC doesn't matter anymore. ETH is the new king.
>>51275959you probably think tranny dudes in dresses look like women too
>>51275934So just ignore the bullish divergence, right?
>>51275934How many times do you "people" have to be told this?>BTC>NEVER>EXISTED>DURING>A >RECESSION>THIS>TIME>IT>IS>DIFFERENT
>>51276018This is just statistical noise. But if it goes down further from here, then I can see it conclusively broken.
>>51275934>the end of the bear market appears to be in early 2023Try 2027 sweetie.
Drop to $14-16k and hold that channel until it flags up to $25k next month
>>51276224>>51276804>>51276777das rite, it's going to ZEROhttps://www.youtube.com/watch?v=iUw2cOGAWMg
>>51277912Logarithmic charts and Linear charts aren't the same thing. In fact, they're very different. There's no such thing as "logarithmic linear".
>>51278765Imagine being this retarded. Log-linear means one axis is linear and the other is logarithmic:https://en.wikipedia.org/wiki/Log-linear_modelhttps://en.wikipedia.org/wiki/Semi-log_plotSince 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.
>>51275934>the end of the bear market appears to be in early 2023what charming optimism
>>51275934>very long term support>a line that just goes up foreveroh no it didnt go up forever it must be over
>>51275934I’m bearish pretty much everything right now but I don’t give this any serious credibility. I’d rather see a long term MA
>>51277671>there was no recession from 2011 to 2022 you are a fucking retard.Obamas entire 2 terms were non stop stagflation.
>>51275934and 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!!!!
>>51277671Literally every cycle, you faggots come up with some reason why it's different this time. It never fails.
>>51275934the stock rsi is a meme, it pumped into overbought levels with the pump to 24k that was not a big pump
>>51279176He means it’s going to get worse
>>51278891>Since bitcoin is not an exponential function of timeit is, since it growns with time
>>51279209Because the volume is low.
>>51279243No, 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.
>>51278891Based linear enthusiast. Log is cope
>BTC literally dies trying to suppress LINK
>>51279241Yeah, and why should it when TA says otherwise? Muh macro?
>>51279301Lotta of ESLs here lately.
>>51275934Listen to me mother fuckers. We are not seeing the next bullrun until the next US presidential election, and its rewards...or consequences.
>>51279380Knowing elementary mathematics doesn't make you ESL.
>>51278999Did 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? >>51279176Do 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
>>51276224The market also doesn't care about some shittily drawn memelines, kek
Didn't read these TA blog posts. Eventually you learn there's only one thing worth buying when you have it all.
>>51278891>linear and logarithmic is the same thingNewfag detected.
>>51279575Nice bait, mongoloid.
>>51279307Using 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.
>>51279523No, I agree with you. People here don't know the elementary basics of trading to begin with, let alone growth models.
>>51279307Also 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.
>>51279623This. 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.
>>51275934That's not the long-term support since 2013. Your line literally uses the march 2020 bottom. The 2013 trend was already lost below 40k.
who cares about this shitcoin? by 2023 i'll be luna billinaire
>>51279693You 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.
>When the stockmarket opens tomorrowhttps://www.youtube.com/watch?v=1lWJXDG2i0A
>>51279693This. 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.
>>51279268>Because the volume is lowwhy should it matter?
>>51279796I don't think they have the IQ to understand what you mean.
>>51280044I'm convinced they must be trolling.
>>51275934>giga support >2 wicks in 10 years
>>51275934Holy shit it's owari da. I kneel.
>>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.
>>51279539>the Ukraine>theAmerimutt detected.
>>51279539Anon... housing market isn't crashing. According to the boomers in my area. They keep telling me housing market goes up!
You are literally doing TECHNICAL ANALYSIS on a CRYPTO CURRENCY.The absolute and entire STATE of this board.
>>51275934You 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.
OP bags are heavy.
>>51279539Clownworld 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.
>>51275934SHITWE'RE GONNA HAVE TO REDRAW THE LINE BROS!! WE CANT KEEP DOING THIS!!
pump incoming, chads win, bobos get fucked in boba hole, bulls leaking precoom
>>51276044oh no, that also might mean the chart will not be linear!
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.
>>51276283Whoever 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
>>51278765>looks at charts all day>doesn't even know the difference between a log-log and semi-log plot.Absolute Chad.
>>51275934Can't wait to slurp at $1
>>51284810See: >>51276224Learn the basics of charting. You don't get to decide where the support is. The market does that.
>>51275934You forgot one major thing op ! Your support line sucks massive cock
>>51285518It'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
>>51284810See: >>51276082Learn the basics of charting. You don't get to decide where the support is. The market does that.
>>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