Ultra High-IQ analysis of current BTC situation [warning: will trigger brainlets and baggies alike]

[Anonymous No.52291230]

The Stoch RSI (the global BTC market's will/strength/sentiment visualized) on the 1W timeframe is at ~87 points, which is extremely high considering we're in a bear market. Considering we're in a bear market the Stoch RSI on the 1W is unlikely to truly max out (reach as high as 97-100 points -- has never happened during a bear market except for at the very beginning of of them). In April, the market gigadumped BTC from a 1W Stoch RSI point level of ~82.

In other words one more pump from here is totally possible, one last bulltrap, as the Stoch RSI isn't fully topped (and even if it doesn't max out to 100 points it could still pump a bit from here and reach 92 points for example), but the market may very well gigadump BTC from here; from the current ~87 points.

>inb4 but the monthly looks bottomed, bullrun imminent!
In bear markets on the monthly it lingers under 10 points for a very long time. Looks like several more months of bottom-lingering left on the monthly. Also, crucially, zooming in on the 1-month reveals the Stoch RSI is heading down. Know just how much it can dump over just a few Stoch RSI points while it "looked bottomed out"? Well, it dumped in May from $40k to $17.6k in June. A dump of $22.4k. And THAT was from a Stoch RSI point level of 4.8 to 0. In other words it already looked pretty much "bottomed out", yet over the course of just 4.8 points the market dumped the price by $22.4k. Currently BTCUSD is at a Stoch RSI point level of ~2.5. So the market has demonstrated it can dump BTC roughly $11k from here, over the course of those 2.5 points.

[Anonymous No.52291581]

>>52291230
Yeah, it's about time. Hopefully no more pointless crabby nonsense.

[Anonymous No.52292281]

>NOOOO!!! You can't just look at the Stoch RSI and see from that what's going to happen, nooo!!! the market is a total mystery!!! waaah!!

[Anonymous No.52293046]

>>52292281
TA haters always whine and cry during bear markets.

[Anonymous No.52293169]

>>52291230
Nah crypto is too big to fail now and will be bailed out by the fed before it has a chance to crash just like the rest of wall street.

[sage No.52293209]

>>52291230
>>52291581
>>52292281
>>52293046
samefag
stochRSI midwits are absolutely intolerable. you've been blown the fuck out repeatedly over the last few months and you just wait long enough that you think everyone's forgotten your absolute embarrassment before you come back and do it all again. you're literal cargo cult retards worshipping a single mediocre indicator. your only response will be to call me a bulltard, which isn't true. and then you'll go "so if you're bearish then stochRSI is true, checkmate!!!" like the brainlet logic failure pleb morons that you are.

[Anonymous No.52293216]

>>52293169
>institutions will save us
the absolute state

[Anonymous No.52293243]

>>52293216
It wasn't too big to fail then. It is now.

[Anonymous No.52293249]

>>52293046

[Anonymous No.52293273]

>>52293243
too big to fail how? It's not a bank responsible for pensions and mortgages. Every cryptard could lose everything tomorrow and nobody would give a fuck.

[Anonymous No.52293295]

>>52293216

[Anonymous No.52293389]

>>52293216
What is that screenshot supposed to show? btc did a 10x since then...

[Anonymous No.52293403]

>>52293216
>>52293295

[Anonymous No.52293550]

>>52293389
The purpose of such screenshots is to illustrate how most people on /biz/, and all of the oldfags from before the 2017 bullrun, were saying the bottom would be 3k (it went as low as 3125), and all the high-buying hoddlers, baggies, redditors and low-IQ anons, kept whining about how 3k was impossible and 6k was absolutely the bottom etc. Exact same mentality and behavior as we're seeing now, only the numbers are different (18k instead of 6k).

[Anonymous No.52293635]

>>52293550

[Anonymous No.52293741]

>>52293216
>>52293295
>>52293403

[Anonymous No.52294226]

>>52293209
>crying crying crying
Keep doing that. The only one who cares about your feelings is you, certainly not the market. And you're just making stuff up, inventing your own imaginary version of reality. You're so mad at yourself and your situation, and crying so much, that you feel the need to create a fictional strawman to attack. Not even once has Stoch RSI been shown to be wrong. Why? Because that's a technical impossibility due to the nature of Stoch RSI, due to the Stoch RSI rising when the market mainly buys and falling when the market mainly sells. So every single time the Stoch RSI was fully topped the price also went down. And every single time the Stoch RSI was fully bottomed; a pump. And no, it's currently not fully bottomed on the 1-Month.

>inb4 b-b-b-but what about that guy who drew a line over the stoch rsi, the price went over that line!!!11
A painted line =/= Stoch RSI. Stoch RSI is Stoch RSI. Stoch RSI is not some line drawn by some guy. If you put a line over the Stoch RSI, then you've just painted a line over the Stoch RSI. That line isn't the Stoch RSI. Only the Stoch RSI is the Stoch RSI.

[Anonymous No.52294360]

>>52294226
Based StochRsi Chad.
BTC is going to 9k at the very least. It most likely will never recover.

[Anonymous No.52294501]

>>52291230
>Performing TA on one (1) oscillator in a market dominated by outsized emotional reactions to news events and completely uncoupled from technicals
>Reading the absolute value of one (1) oscillator and using that as foundation for your conclusion, when oscillators are meant for spotting divergences relative to price movement

Stopped reading right away, you are an absolutely retarded Dunning-Kruger specimen and it's incredibly irresponsible to come on here saying shit to highly impressionable basement dwellers like you know what you're talking about. fuck off and read a book, any book

[Anonymous No.52294715]

>>52294360
Nah, it'll recover.

>>52294501
Oh lookie here, another crying anon like >>52293209, same mentality. You guys have cried since 68k yet the market still moves as it wants regardless of your crying, with zero regards to your feelings. Funny how that works. It appears your crying had zero effect on the market.

[Anonymous No.52294778]

>>52291230
Yup, there's always "another pump" coming. That is how you keep people investing in the scam. Buy the rights to next year's tulip crop, the prices only go up over time!

[Anonymous No.52296022]

>>52293209
>>52294501

[Anonymous No.52296184]

>>52294501
you are winning, son, aren‘t ya??

[frenanon No.52296711]

>>52293169
>will be bailed out
Crypto has already been "bailed out" for $Trillions; remember when BTC was 60k?