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/biz/ - Business & Finance

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File: 44 KB, 920x379, 2018-02-05_08h34_58.png [View same] [iqdb] [saucenao] [google]
7309471 No.7309471 [Reply] [Original]

TRIPPLE BOTTOM.

Can we please go up now? NOW!

OOOOOOOOOOOOOOOOOOOOO

>> No.7309491
File: 88 KB, 280x291, 1498261440064.png [View same] [iqdb] [saucenao] [google]
7309491

BUY BUY BUY BUY

>> No.7309498

>>7309471
no
I hope it keeps bouncing forever
I'm making so much fucking money

>> No.7309513
File: 3 KB, 115x125, 1511512389580s.jpg [View same] [iqdb] [saucenao] [google]
7309513

>A pattern used in technical analysis to predict the reversal of a prolonged downtrend. The pattern is identified when the price of an asset creates three troughs at nearly the same price level. The third bounce off the support is an indication that buying interest (demand) is outweighing selling interest (supply) and that the trend is in the process of reversing.

>> No.7309529
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7309529

>>7309513
>Once the first bottom is created, the price reaches a peak and retraces back toward the prior support. This is when buyers enter again and push the price of the asset higher, creating bottom No.2. The price of the asset then creates another peak and heads lower for its final test of the support. The final bounce off the support level creates bottom No.3 and traders will get ready to enter a long position once the price breaks above the previous resistance (illustrated by the black line on the chart).

>This pattern is considered to be a very reliable indication that the downtrend has reversed and that the new trend is in the upward direction.

>> No.7309546

>>7309498
how do you do that? SHARE YOU SECRET

>> No.7309594

>>7309513
>>7309529
Tech analysis is mysticism

>> No.7309595

>>7309546
you can easily make 3 trades per day at 5% to 10% profit per trade

>> No.7309611

>>7309594
Sometimes, not all of the time.

There is a TON of money on the side just clawing at the chance to buy. I can feel it.

>> No.7309612

It'll probably drop to 7.4 later, just like it did a few nights ago.

>> No.7309622

>>7309471
That's a head and shoulders bro. Sorry..

>> No.7309625
File: 157 KB, 759x1197, 21FC9B72-EF9C-40F5-8D93-C82491043533.jpg [View same] [iqdb] [saucenao] [google]
7309625

>>7309595
Can you only do it on bittrex?

How could one do it on binance?

Plz halp

>> No.7309653

>>7309625
ok
set up a buy order on litecoin for $140-$143 right now
it will fill soon
then set up a sell order around $150-$155

>> No.7309656 [DELETED] 

>>7309595
thank you.
also, please help a normiefag out and tell me what program/app you use to trade?

>> No.7309671

>>7309653
in fact my litecoin order just filled as I was typing that post

>> No.7309673

>>7309653
dont do this

>> No.7309677

>>7309622
>head and shoulders

t. moron

>> No.7309710
File: 27 KB, 488x463, retarded claps.png [View same] [iqdb] [saucenao] [google]
7309710

>>7309653
Thanks bought 100k.

>> No.7309737
File: 71 KB, 500x500, 1444856910691.jpg [View same] [iqdb] [saucenao] [google]
7309737

>>7309656
>the state of /biz/

>> No.7309740

>>7309673
I have buy order for ethereum at 600

And a sell order at 17,000

Thanks guyz!

>> No.7309769

this is why traditional TA is useless in crypto. Based on TA, there's absolutely no reason BTC should continue to go down. And yet, it does

>> No.7309773

>>7309710
>>7309740
whatever floats your boat
I'm already up $100 on the trade

>> No.7309781

>>7309471

What timeframe is this garbage?

>> No.7309800

Memes or not, a triple bottom is a VERY strong sign of a reversal.

We need some nice green candles now and a breakout to 9k or over to confirm a true reversal.

>> No.7309808

JUST FUCKING DROP TO 6K ALREADY

>> No.7309820

>>7309800
As you wish

>> No.7309828

When did you realize this was the end of bitcoin? For me it was when I zoomed out and realized it's been nothing but dead cat bounces for the least 50 days

>> No.7309840

>>7309800
>triple bottom
that looks like a triple top to me

>> No.7309848

I wouldn't mind being stuck at 7-9k for a few months desu.

>> No.7309850

If 8k holds here get rdy to go long boys, if it fails load up them shorts.

>Imagine being a hodl fag and missing out on half the money.

>> No.7309869

>>7309840
A triple top is a reversal of a prolonged uptrend, we are in a prolonged downtrend.

TA wise this is almost a perfect triple bottom.

>> No.7309870

https://www.youtube.com/watch?v=XISHRdsyERw

>> No.7309876

>>7309740
>I have buy order for ethereum at 600
that'll be around the 6500k bottom ..6k I think will be 500eth

>> No.7309884

I wake up every morning, and see posts filled with "forecasts" and "price analyses." As an actual paid analyst, I chuckle when I see them.

They cherry pick, or worse--pick arbitrary timeframes--to measure a "trend" and estimate if a price is "breaking" from that trend. I can deliver practically infinite variations of equally defensible "trends" by changing the scope of my analysis, and without any reason to assume one set of data is more credible than another it is all drivel and meaningless.

Even worse are the analyses based on "candle formations." No, those "formations" don't mean jack shit, especially when for practically every "formation" there's an equally probable inversion of the same formation that "predicts" the opposite of your "assessment." That shit might as well be the astrology of financial analysis, and anyone worth their salt has admitted those patterns are wrong as often as they're right, and thus pointless.

But the absolute worst are the hot-hand-fallacy bullshitters who say things like "every time we dipped below the 100 day average, we doubled in value soon after" or some shit like that. The nature of markets, especially speculative markets like crypto, is those things will be true until they're not. Eventually, speculative activity will move in the opposite direction and cause a lasting crash. Nothing in past crashes has enough in common to today to warrant a reasonable comparison.

In general, people need to remember this about humans: our intelligence evolved at least partially because of our need to hunt other animals, and the best skill for hunting is pattern recognition. As such, humans are predisposed to view patterns everywhere, and derive meaning even if there isn't any to be had.

Always ask yourself: "am I just looking at a pattern, or do I have some legitimate reason to think that x, y, or z is going to happen based on new information?"

Any "analysis" based on patterns is about as credible as the "spoopy snake" meme.

>> No.7309905

so where is your sell order at, biz? mines at the previous top, im a pussy

>> No.7309917
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7309917

>>7309471
Anons on /biz/ say the Americans have the weakest hands... recently the big selloffs have happened between 11pm-5am EST. Chinks and Pajeets?

>> No.7309928

>>7309917
Yep.
Chinks especially, new China banning exchanges FUD came out.

>> No.7309938

>>7309529
>t. money shaman

>> No.7309942

>>7309800
It'll plummet immediately after hitting 9k if it does
There's so many people waiting for just a bit higher to do a sell off
FUD is sinking in and everyone wants off the ride

>> No.7309947

>>7309800
Thats right. Let it flow. Lets see confirm the tripple bottom. Huge breakout if so.

>> No.7309972

>>7309917
chinks giveth and taketh

>> No.7309982
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7309982

>>7309876
Tx I’m
Gonna make it

>> No.7309995

>>7309611
Interestingly, I feel exact opposite.

>> No.7309997

>>7309884
>As an actual paid analyst
>Any "analysis" based on patterns is about as credible as the "spoopy snake" meme.
kys faggot

>> No.7310025

>>7309498
This. Day trading is super easy when there’s a solid pattern like today’s.

>> No.7310047

>>7309917
No, Euros panic selling when they wake up is the cause.

>> No.7310057

Okay but how much does this matter in a free and volatile market that can be manipulated so easily? Is every whale like "lol well it hit 8k 3 whole times guess I can't drive the price any lower."

>> No.7310060

>>7309773
You're trading with peanuts, that kind of thing doesn't work when you have more capital.

>> No.7310069

Looks like it's going down further lads. Triple bottom BTFO

>> No.7310104

hmmm any bounce predictions?

>> No.7310107

>>7310060
sure, it wont work if you're a whale who wants to dump $10mil worth of coin on every trade
but up to $250k or so it works fine
depends on the exchange, of course

>> No.7310110

>>7309884
So what does your """"analysis"""" predict?

>> No.7310127

>>7310057

Oh wait none of you actually have a fucking clue.

>> No.7310136

>>7309546
buy low sell high

>> No.7310138

>is this what no resistance look like?
3/4 down into 7k....

>> No.7310199

>>7309850
Imagine having a daytime job that actually pays well and not having the time to sit in front of your computer in your white tighties all day crapping your shitbucket to the brim, or in your case, the streets.

>> No.7310225
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7310225

>>7309781
This

I've looked at all timeframe charts and none show this. OP is full of shit.

>> No.7310237

6K COME ON

>> No.7310252
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7310252

>>7309471

>> No.7310255

>>7310225
this is both 15min and 1 hour charts on gdax

>> No.7310270
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7310270

Someone just bought 1MM worth of BTC at 7860

>> No.7310279

>>7309471
This is why TA is useless here

>> No.7310293
File: 168 KB, 512x512, Double Bottom Pump.png [View same] [iqdb] [saucenao] [google]
7310293

>>7310237
>Double Dump Double Dump It!!
5K

>> No.7310309

Would you recommend your mom buy Bitcoin right now?

No. That's why the price is not going up. It is way too risky of an investment at the moment.

Basically, we go up when we hita price so low that people feel kinda safe again.

>> No.7310317
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7310317

>>7310255
So this? Doesn't really look like what OP posted. And the 1 hour chart looks completely different.

>> No.7310318

I hope whoever sells now gets shot.
It's obvious most of these retards are panic selling because they bought above 15k, and now they're ruining it for everyone else.
If it dips below 7.5k it's all over, it will make the previous crash look good.

>> No.7310320
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7310320

>its going down instead
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>> No.7310328

Fuck this is intense they're really fighting to push it down

>> No.7310338

>>7310270
Shame, they could have gotten a 50% discount if they waited a couple months

>> No.7310339

>>7310317
You're joking? Look at the top tops after the drop there and the three troughs. Same thing on the end of the 1hr chart on Gdax.

>> No.7310341

>>7310270
There's been over 7 billion dollars worth of bitcoin traded over the last 24 hours. A drop in the ocean.

>> No.7310344
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7310344

>>7310318
Europe...confusion...denial.....panic

>> No.7310358

>>7310339
*Two tops

>> No.7310374

>>7310318
>now they're ruining it for everyone else.
But that's how a zero-sum game works, you gigantic idiot. Greater fool theory only works as long as there's someone stupider with you. If you're caught holding btc after it's painfully obvious it's crashing, then there's no one else to pass it off too. You're at the bottom of the pyramid, son

>> No.7310407
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7310407

>>7309828
If it’s that predictable you have no excuse for not making money off of it.

>> No.7310408

>>7310270
Must've been shilled earlier that the recovery will moon hard.

>> No.7310420

So that was the third bounce off 7800, we bullish now?

>> No.7310485

>>7310420
kek, yes that was the 'end' of the dip

>> No.7310512

>>7309917
Probably. Euro here and I wake up to red candles every day now

>> No.7310529

>>7310420
Seems to be falling apart a bit, that was just a new low since the ATH below 7800...

>> No.7310555
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7310555

Barely any volume though, I think we're heading down further.

>> No.7310578
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7310578

>>7310420
I think it's going to stay at 8k for the rest of our lives.

>> No.7310604

>>7309828
so you shorted it then right? if you have no proof never come back to /biz/ again.

>> No.7310612

>>7309625
Are you fucking retarded? You just set limit orders at the support and resistance levels of the range. Fucking simple and obvious. Lrn2trade faggot.

>> No.7310619

As long as we dont decisively break the 7800 support, we're good

>> No.7310645

>>7310578
I can live with this.

>> No.7310647

>>7310555
That just means there's no more orders at the current level.....it can also mean a surge. Sure looks like accumulation to me. Maybe a small bear trap first. Buy the breakout upwards.

>> No.7310698

>>7310647
I hope, I bought at 8,1k last dip and today I woke up to 7.9k with low volume.
digits for surge

>> No.7310756

>>7310619
AND WE JUST DID BOY

>> No.7310761

Last chance to sell this high

>> No.7310775

>>7309498
>I'm making so much fucking money

Yeah, until it fucking drops like a rock to 4k.

>> No.7310782

>>7310756
Nope.

>> No.7310818

It feels like we are just delaying unevitable

>> No.7310831

>>7310761
lol...7.4k is the ((actual)) floor. It won't reach it. 9k tomorrow, then bullrun to 12k.

>> No.7310833

>>7310818
>unevitable

You mean inevitable? What is the inevitable?

>> No.7310843

>>7310831
Zero chance of that with the way things are going.

>> No.7310945

>>7309471

global whales are ready to push up but they are waiting for the chinks to join. the rest of the world literally wont re-enter until the chinks come to an agreement otherwise they will simply sell the pump like the greedy no ethic chinkgoblins they are. This could happen any moment now and then 500 billion surges into the market, and then the normies join in and the lowsellers kill them selves.

>> No.7310972

Damn 800 BTC at the 7800 (bitfinex) were melted in minutes. This does not look good. 1700 BTC left.

>> No.7310980

Fucking hell how many times has it bounced off now

>> No.7310992

>and again i shouldnt have listened to /biz/
goddamnit

>> No.7311031

If this 7800 breaks I'm shorting.

>> No.7311046

Triples decide trend direction

Remember the power of internet

>> No.7311051

>>7311031
It broke. GG

>> No.7311061

>>7311031
I feel like that.

Up 5x from my initial investment - I might just sell now and put that into the inevitable crashed (((stock))) market.


Crypto is too unpredictable.

>> No.7311066
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7311066

>>7310945
>any moment now
Yeah... idk about that. Pic related.

>> No.7311082
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7311082

Ok wall has fallen. 1k here we come.

>> No.7311099

>>7311031
I would not. Its not diving much even after latest support breaks. Sell pressure is getting low.

>> No.7311139
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7311139

>>7311082

>> No.7311191
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7311191

>>7309471
YEAH WERE SINKING 6700 INCOMMING
BRACE BRACE BRACE

>> No.7311195

>>7311099
>Sell pressure is getting low.

Whales are slowing the sell pressure to attract more suckers into thinking that it's the floor.

>> No.7311209

OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

>> No.7311219

i hope you all shorted faggots hahaha

>> No.7311271

Why the fuck does it always go just beneath my liquidation point then shoot right back up? this is fucked.

>> No.7311334

>>7311271
That's the point, it'll probably go to 8,5-9k before going down again

>> No.7311343
File: 87 KB, 500x484, 1512673262075.jpg [View same] [iqdb] [saucenao] [google]
7311343

Falling below 8K again.

>> No.7311384

>>7309625
>How could one do it on binance?
My dude, even if something is freefalling, it's freefalling with peaks and dips, sell and buy those accordingly and then convert to fiat and there, profit.

>> No.7311478

>>7311271
Because you suck at trading and havent tested any stop placement you dumb fuck.

>> No.7311534

Just set your liquidation price to -1 and you will never liquidate.

>> No.7311580

>>7309653
foolish !!! do not settle for such pitty profit!!!

>> No.7311609

>>7309740
proof???!!!!!

>> No.7311702

>>7311478
"you suck at trading" how can i suck at trading if the market decides to go literally just beneath where im liquidated then shoot right back up?

>> No.7311782

>>7310069
everything for now is turning against this market. LLoyds group and RBs have banned credit card trades in cryptos.

yet last night I was listen to a world economic forum about Cryptos and they believed it will be here to stay and a price prediction of $25000 was offered by end of this year! the clip is on youtube!

So at the moment it is only rife & ripe to BUY! Believe me you will make moer by holding long term!!! Do not let the jittery market created by direct governmental influences to fool you

>> No.7311808

>>7310270
probably the hedge funds or investment Companies....

>> No.7311828

>>7309611
It took an hour for the tech analysis prediction to fall flat

>> No.7311899

>>7309529
these kind of predictions are for periods of months, not hours or days

>> No.7312267

>>7310270
Every correction is a transfer of wealth from dumb money to smart money.

Smart money sold the top, and are buying back in at a discount from dumb money who bought in at the top.

>> No.7312308

>>7309611
interestingly, scrying is about as technical as the technical in technical analysis

>> No.7312329

>overvalued stock
>that nobody is buying for its intended purpose, just to sell it for profit
>free falling for days
>"better buy now!"

/biz/ - economically illiterate

>> No.7312511
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7312511

>>7309769
>no reason

>> No.7312664

I think you'll be surprised at how well the markets will do in the next 6-12 months. A lot of the negative media attention is bought and paid for. I know a lot of banks are stocking up on Bitcoin and Ethereum right now, and when the time comes, the media narrative will shift.

>> No.7312847

HOW MANY FUCKING TIMES IS IT GONNA BOUNCE OFF THIS SUPPORT LINE

>> No.7312867

>>7309997
>what is technical vs fundamental analysis

>> No.7312909

>>7312847
$7.5-8k is where we are accumulating.

You'll call me a larper now, but in a few months you'll all realize that this has essentially been a robbery, because banks failed to get in early.

>> No.7312945

>>7312847
its not going to bounce again, this time the break comes
get ready to add to your shorts

>> No.7312957

>>7312909
That's fine, as long as my portfolio stops bleeding i don't give a fuck

>> No.7313022

>>7310270
Based Tether printer propping up the market since 2015.

>> No.7313076

>>7309884
If everybody follows TAs... TAs become relevant!
That's a convention.

It's good enough to follow TA. I make money from it, that's all I need to know.

It's never 100% tho.

>> No.7313101
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7313101

It's gonna bounce a lot more.

>> No.7313207

>>7313076
THIS IS COMPLETELY FALSE
If a technical analysis strategy [math] X [/math] predicts a price [math] P_{t+1} [/math] at time [math] t+1 [/math], then at time [math] t [/math] if [math] P_t < P_t+1 [/math] then everyone will buy until [math] P_t = P_t+1 [/math]

>> No.7313257

>>7313207
even if math tags worked your latex is fucked

>> No.7313269

I think that the Bottom will be ~6.5k with the healthy grow dating back to july/september. If that is breached, we will have strong support at 5.5k. If that is passed I have no idea, can't draw any more meme for such a situation.

>> No.7313437

>>7310025
>I knew this morning that the market would evolve along this pattern today, so I invested accordingly

Weren't you lucky.