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File: 92 KB, 1428x753, The Long-term Support turned Resistance.png [View same] [iqdb] [saucenao] [google]
56836882 No.56836882 [Reply] [Original]

<------------------------------------------------------------------ related picture
Straight above where BTC is now, the resistance is at roughly 44k. So if BTC were to flashpump from here, it would break through the support with 45k/46k. So not only is BTC at the top of a big rising wedge (a bearish structure) while simultaneously the 1W Stoch RSI topped, but BTC is ALSO still below this giga-resistance by several thousand. So it's a very bearish situation indeed. Only the very most naive newfags and the most desperate baggies think the situation is bullish.

That said though, nobody should be surprised if BTC tests this giga-resistance before megadumping. Would make sense from an "let's engineer a bulltrap" perspective: a fakeout above the rising wedge, 40k+ happens, mega FOMOoing of the dumb money masses ensues, BTC hits the giga-resistance and BAM; super-flashdump of doom, maximum liquidation of low-IQ latefag longers resulting in a series of mega-long mega-red mega-dildos; a sustained megadumpage.

>> No.56836899

>>56836882
This has to happen because OP is still sidelined and needs an entry.

>> No.56836905

>>56836899
>namefagging
You have to go back.

>> No.56836908

>>56836882
Thanks, just bought 100k.

>> No.56836915

>>56836905
Dilate

>> No.56836925

>>56836915
>desperately trying to fit in
cringe

>> No.56836948

>>56836882
Woah thanks OP, so generous of you to share this. That yellow line seems pretty important. I'm going to hold anyways though. No biggie if it dips.

>> No.56837286

>>56836948
>That yellow line seems pretty important
The global Bitcoin market sure thinks so.

>> No.56837319

>>56836882
>Giga
>Mega

You sound like a regard

>> No.56837421

>>56836882
>linear trend on a log chart
>again
Why are TAfags such brainlets? Show it on log-log scale or fuck off. At least the schizo claiming the whales trade in the range between two log curves made sense.

>> No.56837538
File: 54 KB, 220x221, 1677307092645766.png [View same] [iqdb] [saucenao] [google]
56837538

>>56837421
>the market is brainlet
You're saying, seethingly, that the market itself is brainlet for trading BTC the way it has been trading it (establishing the support and trading it).

>> No.56837564

>>56836882
Anything pre China ban no longer applies

>> No.56837573

>>56836882
that's cool

>> No.56837596

>>56837538
It was never support dumbfuck. It's a random line through some arbitrary points which doesn't make sense in the context of the chart it's drawn on. Learn what a power law is and why if you're going to draw memelines, do it on a log-log chart so it's at least consistent. Nigger.

>> No.56837611

>>56836915
Based madam pls show bob and vageet

>> No.56837660

>>56836882
Pathetic

>> No.56837745
File: 72 KB, 500x200, 1700600349360510.jpg [View same] [iqdb] [saucenao] [google]
56837745

>>56836882
>56836882
Well, uhm, hah, you know ... i bought at 19k ... i don't care about your lines. Hahah, Sorry.

>> No.56837812
File: 46 KB, 1666x540, btcgoup.png [View same] [iqdb] [saucenao] [google]
56837812

>>56836882

>> No.56837870

>>56836882
we are at 11 july '16
act accordingly