/biz/ - Business & Finance

[Anonymous No.8354027]

You're welcome nerds. Now go to bed and get ready to buy the dip.

[Anonymous No.8354076]

>>8354027
Oh no it's one of those elliotwave faggots.
Tip for all people: don't trade strategies you haven't learned yourself and don't follow someone else's crap blindly

[Anonymous No.8354084]

>>8354027
stop spamming this everywhere unless you will explain it

[Anonymous No.8354107]

All that color, all that lack of substance

[Anonymous No.8354156]

>>8354084
I've posted this once. Notice how the third wave down is a PERFECT 1.618 extension of the length of the first wave down? That means that it was the target of a whale's algorithm, and that a 2.618 target can be expected for the 5th wave down.

[Anonymous No.8354166]

>>8354084
>>8354156

[Anonymous No.8354179]

>>8354084
There's also confluence with the 2.618 target being almost the same length as a 1:1 extension of the length of the very first 5 waves down. Double target so to speak.

[Anonymous No.8354216]

>>8354084
my bad man its anonymous and all these meme lines look the same. The guy was rude to me in another thread, sorry I spread the bad vibes carry on

[Anonymous No.8354253]

>>8354216
I could post charts of whales targetting first wave extensions all day. Knowing the top and bottom isn't hard.

[Anonymous No.8354265]

>>8354253
lol @ posting and circling stuff AFTER IT HAPPENED

show us your prediction of the events BEFORE IT hAPPENED RETARD

[Anonymous No.8354269]

>>8354027
It would be very interesting if things like fractals and fib ratios actually play some innate role in what markets do.

[Anonymous No.8354276]

>>8354216

[Anonymous No.8354305]

>>8354265
Just for you fagboy

[Anonymous No.8354313]

>>8354027
>ONE TOO TREE FORE FVIE...
>AYYY YBEEEE SEEEE
>ONE TOO TREE FORE FVIE...
>AYYY YBEEEE SEEEE
>ONE TOO TREE FORE FVIE...
>AYYY YBEEEE SEEEE

[Anonymous No.8354317]

>>8354269
There is no market. There are only groups of competing whales with algorithmic fib targets.

[Anonymous No.8354338]

>>8354313
ABC is the reason that I sold at the tip top and you bought my bags. Stay poor.

[Anonymous No.8354363]

what do you think will be the top of wave 4?
83? 85? or 88?

[Anonymous No.8354373]

>>8354363
forgot the pic

[Anonymous No.8354399]

>>8354363
Wave 2 retraced an almost perfect .618, so i'm stacking shorts starting at 8400-8600. .382-.5

[Anonymous No.8354436]

It's really just too easy sometimes guys.

[Anonymous No.8354506]

>>8354373
Looks like the top is in. There's your target assuming that B hits the .5

[Anonymous No.8354513]

>>8354436
elliot waves is a meme just like 99% of TA.

you can still trade profitably by using it, but you can't predict shit, sorry to burst your bubble

[Anonymous No.8354539]

>>8354513
stay poor. Its not about predicting, its about preparing

[Anonymous No.8354571]

>>8354513
Elliot waves is just a way to map possible scenarios. Nobody knows who will win the whale fight, I just hop on board when a clear winner is chosen, or when they're on the same page- like they re right now.

[Anonymous No.8354604]

>>8354513
so now you think 8250 was B and it'll retrace down. the problem here is that the price may actually go up do 8500 and then dump below 8250. in that case the elliot waves meme still holds but your current prediction isn't

>>8354571
where is you bullish scenario then?

[Anonymous No.8354605]

>>8354539
>>8354571
> its not about predicting its just about predicting
the freshest tafag cope of all

[Anonymous No.8354627]

>>8354604
8250 was the top of the A wave. Jesus dude, the books are free, just read em. And this is the bullish scenario. We're in the last leg of a healthy correction.

[Anonymous No.8354655]

>>8354627
i meant A, but good job and dodging my point.

>this is the bullish scenario
the pic in the OP isn't bullish

[Anonymous No.8354659]

>>8354605
So are you a hodler or do you just randomly buy dips all the way down? Drop the shitty mindsets and put some effort into learning something useful. I've been making a living trading in my underwear for the last 10 years. TA works. I'm sorry that you likely suck at it like the other 95% of traders that lose money.

[Anonymous No.8354669]

>>8354655
See
>>8354305

[Anonymous No.8354688]

>>8354669
and what if 7700 was the start of wave A? where is that scenario?
in the above case you can simply move your 2 to 7700, and while elliot waves would hold your prediction would go down the drain

[Anonymous No.8354725]

>>8354688
I literally can't make this any simpler for you.

[Anonymous No.8354756]

>>8354725
the bottom could be at A. it could bounce off 1.it could go straight from A to C.
your "predictions" are completely useless famalam

[Anonymous No.8354819]

here's some meme TA that actually works without you having to second guess the memelines

[Anonymous No.8354851]

>>8354756
Who cares if I'm wrong? The fib never lies and I'll always make 10x more than I lose.

>>8354819
Ichi won't give you a buy signal during very short-term uptrends, but it's dope for swing trading.

[Anonymous No.8354863]

>>8354027
>>8354166
>>8354253
>>8354276
>>8354338
>>8354399
>>8354436
>>8354506
dude fibonacci lines lmao

[Anonymous No.8354865]

>>8354851
>The fib never lies
kek

>I'll always make 10x
also kek, but good for you if you have a solid trading plan. autistis listening to you on /biz/ will only lose money tho

[Anonymous No.8354870]

Ive also been working long hours with my TA with the colaboration of some highly esteemed collegues.
Fell free to review

[Anonymous No.8354945]

>>8354863
Right? I don't know why whales love em. They just do.

[Anonymous No.8354960]

>>8354945
>drawing only the 3 right projections on a chart where 100 others would be wrong
sad

[Anonymous No.8355007]

>>8354027
you still keen on around 8.4-8.6k for opening up a short

[Anonymous No.8355017]

>>8354945
>>8354960
how do you even get your sell order at the right fib line?

[Anonymous No.8355025]

Do I have to project every 1-2 extension on the chart for you to open an elliot wave book? You're a lost cause, but I'm glad, because I need people like you to keep losing money so that I can keep making it.

[Anonymous No.8355040]

>>8355017
you don't. fib works "100%" of the time because you could draw as many fib lines as you like in any directions, starting at any time.

>>8355025
>peak at 1
>peak at 2.618
>peak at 0.786
yeah, it was obvious from the start that you have to sell there...

[Anonymous No.8355047]

how can i learn TA to be like you?

[Anonymous No.8355052]

>>8355017
Depends on market sentiment and which swing high/low the algorithms are using as pivots. It's hard to explain, but if you check out Tradedevil on he does a good job of explaining it. The general rule is that A Waves and C waves share a relationship of either 1:1 1:.618 or 1:1.618, depending on whether it's a zigzag, truncated or extended respectively. In impulses, Wave 1 is usually the same length as 3, and the entire structure is 1.618 of wave 1, depending on which wave is extended.

>>8355040
It's obvious if you pick up an elliot wave book, which gives you a perfect explanation of when to use each fib extension level. Dumbass. Keep hodling.

[Anonymous No.8355068]

>>8355052
Are we still waiting for 8400 to short?

[Anonymous No.8355084]

>>8355052
>Keep hodling.
i'll keep riding the waves instead of gambling on tops/bottoms

[Anonymous No.8355095]

>>8355052
Still waiting on you to sell us that free ebook.

[Anonymous No.8355096]

>>8354027
OP Your last leg is wrong

[Anonymous No.8355097]

>>8355068
>>8355007
RSI divergence on 1 hr time frame so either 8200 or 8500 for short entry (tenken and kijun on ichimoku/20EMA and 50EMA)

[Anonymous No.8355114]

>>8355068
Yup. Stop loss is at 8850 in case we get a diagonal/wave failure.

>>8355084
Good luck

>>8355096
Might be, I drew it that way because of what seems to be solid fib relationships.

>>8355097
This guy gets it.

[Anonymous No.8355121]

>>8355097
i've done tons of backtesting with ichimoku, and it works orders of magnitude best on 30m resolution

[Anonymous No.8355140]

>>8355095
I use Elliot Wave Principles by A.J Frost and Robert Prechter as a reference. It's short, simple and all over the internet for free.

>>8355121
I used to trade Ichis on the 30 minute too. Pretty much my favorite strat when I'm lazy and it's a bull alt market.

[Anonymous No.8355149]

>>8355114
Thanks bro. Why are you helping us btw?

[Anonymous No.8355156]

>>8354027
>selling the bottom of a channel
How retarded are some of you?

[Anonymous No.8355167]

Elliot waves is quite literally biggest POS Ive ever seen in my entire life. RSI, MACD and candlestick price action is ok to an extent...but EWs? Jesus fcking christ...

>We should now finish wave 3 and go 15% up
>Whale suddenly dumps 2k BTC
>Aaaand we're going down

Kek

[Anonymous No.8355177]

>>8355156
>implying it won't plummet to sub 5k

[Anonymous No.8355178]

>>8355156
>Thinking it wont go down because imaginary line says so

[Anonymous No.8355188]

>>8355156
So what do you suggest?

[Anonymous No.8355198]

>>8355188
that you should wait for a breakout if you trust the memelines

[Anonymous No.8355199]

>>8355140
Thank you, fine lad. You are a true gentleman and a scholar. I'll read the book. 118 pages is nothing.

[Anonymous No.8355202]

OP what is your tradingview username?

[Anonymous No.8355207]

>>8355167
Or that one time in December when there was a clear head&shoulders pattern but the whales decided to pump even higher.

[Anonymous No.8355209]

>>8355149
Np. Mostly because I'm tired of seeing wojacks during every dip, and I'm tired of the banks fucking everyone, even in crypto- which was made to oppose them. If you learn to see what the algos are doing, then you can start to plan and increase your odds. Of course you'll be wrong a lot, since the whales are fighting and all, but you'll win a lot more than you lose.

>>8355156
I;m a day trader. I'll go long on a bull wick through the channel bottom.

[Anonymous No.8355244]

>>8355167
Elliot waves are for modeling scenarios so you can always have a gameplan. Fib extensions are for tracking algos. If you treat elliot waves like they're a be all end all prediction strat then you're gonna lose money. The counts are subjective, that's why you have more than one of them. It lets you plan ahead.

>>8355199
No problem, good luck.

>>8355202
I never post on tradingview. Folks don't understand risk/reward/stop losses. And folks don't understand that there are giant groups of whales all competing for your coins, and that you have to adjust to what they're actually doing, not what you THINK they're doing. Trading view faggots just want targets, ignore risk/reward and bitch at you if they lose money. Dumbass entitled community that I don't want to be a part of.

[Anonymous No.8355287]

>>8355207
The trick to trading head and shoulders is to confirm it with volume and an elliot wave count. this one wasn't too bad, but I don't bother swing trading them. Other indicators/patterns are a lot better.

[Anonymous No.8355294]

>>8355244
It's because i want to come in contact people that also like TA, so that we can learn from eachother. im not looking for targets but knowledge

[Anonymous No.8355307]

>>8355294
Check out tradedevil, philakone, eric choe and the chart guys. Great teaching material on all of their channels. All good guys and and all successful traders.

[Anonymous No.8355335]

thanks for the info op
we're all gonna make it. atleast if we put some effort into understanding the info given to us we will. bless ya

[Anonymous No.8355358]

>mfw turbo autists try to predict the most manipulated market on the planet by drawing memelines

[Anonymous No.8355394]

>>8355121
so 8440.
Higher timeframes beat lower time frames though and 1hr has div as well as 30min. 2hr does not. So I will stick with 1hr in this case

[Anonymous No.8355402]

>>8355140
elliot wave theory triggers me

[Anonymous No.8355406]

>tfw you short 30 BTC and refuse to use TA

[Anonymous No.8355417]

>>8355394
if you simply trade kumo twists, 30m is like 10x times more profitable then 1h, probably because 90% of people use it as timeframe

[Anonymous No.8355420]

>>8355335
np. Keep in mind that if the bull whales win we could double bottom at 7650 or hit a psychological support at a round 7k. Keep all the scenarios in mind, stick to your stop loss, and confirm your buy in with first heavy sell to shake out the last of the weak hands, followed by heavy buy volume.

>>8355402
Me too, but it works because it's an efficient way for whales to accumulate before they pump. And it's nice for modeling.

[Anonymous No.8355424]

>>8355358
>mfw it works

[Anonymous No.8355441]

>>8355424
those are the people who manipulate it tho

[Anonymous No.8355456]

It's lining up nicely so far doods. We'll see what happens once we bounce.

[Anonymous No.8355460]

>>8355441
>anyone successful is a manipulator

[Anonymous No.8355474]

>>8355420
I started in this space in Jan. absorbed as much info as i could, took some losses, mostly went into alts, got fucked. then last week figured out how to use mex. i've had a short open from 87 since yesterday, was going to take profit at 77 but never. so now i'm just waiting

[Anonymous No.8355530]

>>8355474
Good stuff. You're braver than me. I never trade with leverage, shit's too uncertain and there's too many tricks that they use to get you liquidated. Throwovers, false volume, fake liquidity etc etc.

[Anonymous No.8355542]

>>8355460
>top 25 on the biggest btc exchange aren't manipulators

[Anonymous No.8355558]

>>8355542

[Anonymous No.8355564]

>>8355530
use stop losses. I've never been liquidated

[Anonymous No.8355587]

>>8355244
Eliot Waves and TA in general sucks in crypto for two reasons

1) big whales have much bigger influence then in any other market
2) manipulation is rampant
3) liquidity DOES NOT EXIST
4) soneone fan fat finger 5m $ worth of BTC and push price 10% down

[Anonymous No.8355601]

>>8355564
>he never experienced stop hunting
i won't use hard stop losses ever again after my last etc trades on bitfinex

[Anonymous No.8355620]

>>8355587
>5mil
btc volume billions

[Anonymous No.8355641]

>>8355587
I counter with https://www.youtube.com/watch?v=SM9EldMV3Tw&list=PL5brTFluwn1ml_KAT2Caiv3dN5XV1MNRy . You just have to know what you're doing.. or be asian. or both.

[Anonymous No.8355647]

>>8355620
you mean daily volume. 5m is enough to eat through a buywall/sellwall in off-hours

[Anonymous No.8355648]

>>8355530
yep. got fucked at 50x and a one off 100x
10x is quite safe if you catch a trend near the bottom or top. i'm on 25x atm

[Anonymous No.8355649]

TradeDevil is awesome

[Anonymous No.8355692]

>>8354027
Can you do ETH/USD pretty please ?

[Anonymous No.8355702]

>>8355692
it's literally the same as btcusd but more volatile

[Anonymous No.8355740]

>>8355692
>>8355702
Yup, I agree. it's gonna follow btc until we stabilize.

[Anonymous No.8355783]

[Anonymous No.8355787]

>>8355620
Its mostly wash trading (90% on Japanese exchanges).

[Anonymous No.8355794]

Short now or wait until it comes up a little more?

[Anonymous No.8355804]

>>8355641
You cannot counter 10k BTC dumps. I see these Elliot guys on twitter wrong so many times they might as well read from cards/stars.

[Anonymous No.8355809]

>>8355783
>abcd inside abcd
anon...

[Anonymous No.8355828]

New lows every day.
BTC is breaking down in stairsteps.

[Anonymous No.8355889]

it failed to break through repeatly, it's likely to breakthrough it will be range wars all day.

[Anonymous No.8356012]

>>8354305
saved.

If this won't happen in the next few days I will call you and you bullshit out.

[Anonymous No.8356055]

>>8356012
give it 2 weeks if you're hoping for a higher high

[Anonymous No.8356078]

>>8354027

Any way to stay in touch with you OP? Especially if you're right about your predictions I will want to send you some of my profit.

[Anonymous No.8356092]

>>8356078
the only donations he'll except are your mouth on his dick faggot

[Anonymous No.8356098]

>>8356092
Except? Oh wow

[Anonymous No.8356122]

>>8356092

Holy fuck, how do I draw the ire of these fucking morons so quickly

[Anonymous No.8356134]

>>8356098
kek been up all night
what you accect

[Anonymous No.8356155]

>>8356092
>the only donations he'll except
hahaahahah stupid fucking faggot

[Anonymous No.8356184]

>>8356012
It's not drawn with any timeframe in mind, I'm just too lazy to draw to scale. I have no idea how long it will take.

>>8356078
Naw, I'm pretty well off. Also don't forget that it's a whale fight. Just because the algos have a target in mind doesn't mean that they will get there. Gotta watch how the whales are reacting and react to the price action/volume.

[Anonymous No.8356196]

>>8356184
What are your motivations for making this thread ?

[Anonymous No.8356205]

>>8356184

Okay you're well off and don't want my money. But I'm not well off and want your predicitions. I used to bet sports so I don't expect winners everytime and all that shit. Just guide me ffs.

[Anonymous No.8356314]

>>8356205
I mentioned to another guy further up. Follow Philakone, Eric Choe, Tradedevil and thechartguys. All better analysts than I am.

>>8356196
Pink Wojack prevention police

[Anonymous No.8356358]

>>8356314

Do they actually give predictions or do they just show TA after the fact? I need >>8354305 that pic basically, not 20 minute videos of what already happened. I say this because the TA videos I've watched in the past are almost never predictions.

I'll probably check them out regardless

[Anonymous No.8356407]

>>8356358
Yeah, all predictions. Fast forward to the end of the videos and there's usually a chart with some target boxes. Especially tradedevil and philakone

[Anonymous No.8356631]

>>8356407

A few days ago when btc was at 9400, philakone was telling everybody how bullish it was. He was showing every indicator at every time frame being bullish, directly before an $1800 drop lol. This shit is just gambling if you don't have any insight about what whales will do.

[Anonymous No.8356709]

>>8356631
That's sort of the beauty of risk management and smart stops. 1% loss, 1% loss, 1% loss, 20% gain. You're right though, at the end of the day, if you're not a massive whale, then you're gambling. I like the odds though.

[Anonymous No.8356860]

time to adjust your ABC "prediction" anon

[Anonymous No.8357003]

>>8356860
One of these. 10,000 hrs mspaint btw. And either way, shorting 8.4-8.7k.

[Anonymous No.8357055]

>>8357003
in the middle chart 4 is lower then 1, kek

i'll stay short till my kumo twist

[Anonymous No.8357092]

>>8357055
1 and 4 can overlap in a leading or ending diagonal.

[Anonymous No.8357117]

>>8357055

[Anonymous No.8357121]

>>8357092
also C is lower that 4 on the same chart

[Anonymous No.8357152]

>>8357121
The ABC makes up the B wave. It's would be a 5-3-5 and works perfectly as a correction wave.

[Anonymous No.8357215]

>>8357152
>"C should be above 4 to be considered a proper elliot wave"
>"except those cases where it's not, which is still a proper elliot wave"

>>8357117
>"4 should be above 1 to be considered a proper elliot wave"
>"expect they aren't, which is still a proper elliot wave"

should me a pattern that is not an elliot wave, kek

[Anonymous No.8357275]

>>8357215
You're not really applying a "should" rule that describes a pattern in a month to month, predominantly professionally traded stock market to a 5 minute chart of the most volatile asset in history are you? Topkekkles. Maybe, just maybe, an exception is to be made?

[Anonymous No.8357389]

its almost time

[Anonymous No.8357558]

>>8357389
The moment of truth is so close. I'm getting down and dirty on a 1 minute chart. I'm not sure about the count, but I think this might be it since the C wave tagged the .382 retracement perfectly to the dollar.

[Anonymous No.8357602]

>>8357558
So we are really looking at whether it hits around 8500 and breaks downwards?

[Anonymous No.8357626]

>>8357602
Yeah. Somewhere between 8400-8600 or so. But if it gets to 8800 with heavy volume then the bull whales win instead and i'm going long.

[Anonymous No.8357630]

>>8357389
what happens after 5? I'm scared.

[Anonymous No.8357648]

>>8357630
Realistically, it'll probably finish with a really complicated diagonal for 5 and go somewhat sideways. I still think it's gonna spike up and then tank down hard though.

[Anonymous No.8357662]

>>8354027

[Anonymous No.8357715]

PLEASE bounce off the 8300

[Anonymous No.8357726]

rolling for quads and if quads then 8600 hit then down to 6k

[Anonymous No.8357742]

little to eager i guess

[Anonymous No.8357756]

>>8357662
Could be done. We'll see

[Anonymous No.8357783]

>>8357756
At what point would you short then? And where is your stop loss set

[Anonymous No.8357795]

>>8357726
If it does tank, this big dumbass trendline could always catch it long before 6k.

[Anonymous No.8357854]

>>8357783
Slowly opening shorts starting at 8400. Will increase in size as we approach 8600/8700, or I'll short heavily into downward strength otherwise. Stop is at 8850. Really nice risk/reward.

[Anonymous No.8357971]

>>8357854
>tfw it goes to 8900 before tanking to oblivion

[Anonymous No.8357997]

>>8357971
so?
its not like we're x100 leveraging

[Anonymous No.8358027]

>>8357971
I'd cry a little, but it'd be a small loss followed by a huge gain

[Anonymous No.8358048]

>>8357854
That lines up with my TA twatter crew. God please let this fucker go to 8700 so I can close my long in profit. How confident are you that we'll go back above 8400?

[Anonymous No.8358049]

Resistance seems quiet strong right now.
I think whales will bait out some shorts now.

[Anonymous No.8358069]

>>8358048
Somewhat, but it could double top.
>>8358049
Yup, you can feel it in the air.

[Anonymous No.8358135]

okay this should be wave 5
1:1 extension is from 8530-8556

[Anonymous No.8358240]

Volume is falling off too. This could get ugly soon if a super whale doesn't step in to save the day.

[Anonymous No.8358317]

>>8358240
Should we short now or wait for confirmation

[Anonymous No.8358363]

starting to drop

[Anonymous No.8358367]

>>8358317
Up to you, I always wait.

[Anonymous No.8358394]

Guess who just woke up...

[Anonymous No.8358415]

>>8358367
I don’t wanna see 6.5k from here but whatever I do is the wrong thing so I’ll wait

[Anonymous No.8358437]

Whats happening now? This wasn't written in the memelines.

[Anonymous No.8358457]

>>8358437
woah, what a surprise! >>8354819

[Anonymous No.8358513]

Just hit 8k. Wat do

[Anonymous No.8358520]

>>8358457
settings?

[Anonymous No.8358521]

hope you all got in on time

[Anonymous No.8358546]

>>8358521
zoom out

>>8358520
10 30 60 30, thought the standard ones are almost as good as long as you use 30 minutes timeframe

[Anonymous No.8358561]

Were they hunting the longs or are we going back down?

[Anonymous No.8358821]

What’s the prognosis?

[Anonymous No.8358902]

>>8358561
>>8358821
The count could be messed up, and we could retest 8600 before dropping. Unlikely but possible. If we break 8800 the correction may be over already. Otherwise look for buy signals at 7650, 7250 and under 6.6k. I'm short from 8.4k. I have to sleep. Good luck guys.

[Anonymous No.8359097]

>>8358902
>look for buy signals
>in downtrend on all timeframes
>in a bear market

top fucking kek m8.

>I have to sleep.
good night sweet prince

[Anonymous No.8359245]

holy shit op is a god >>8354506
he called for b to hit 7976
next stop 8600

[Anonymous No.8359346]

>read thread
>about to sell at 8k
>remember I'm getting memeline advice on a Vietnamise basketweaving forum

[Anonymous No.8359629]

muh memelines

[Anonymous No.8359805]

>>8354870
>Fell free to review
This one makes the most sense, just bought 100k.

[Anonymous No.8359863]

>>8359629
have my shorts set for 8285, 8495, and 8698,
I figure those are good levels, first one should is under previous high so even if we fail to break resistance on this move back up I'll still get a small order in, second is in middle/lower range of price between last high and next projected high, and last order is with the expectation of slight overshoot, and a hope to catch the very top. at that point I'll already have an acceptable size and position, nothing amazing, but acceptable, the last would be the icing on the cake. ratio of order size is at 3/12/20 from lowest buy to highest, and such that this and all other positions will put me at 200% margin level.

[Anonymous No.8360004]

>>8359629
someone want to explain how this makes any sense?

[Anonymous No.8360060]

>>8360004
it doesn't unless you believe

[Anonymous No.8360246]

>>8360004
Its like religion you see. You just have to have faith and believe

[Anonymous No.8361324]

>>8355456
Its an upside down head and shoulders, look at it on a daily timerame price wants to blow out the double top liquidity, and blow out stop losses.. everyone keeps selling nobody is sitting in these trades... this is a traders marker not a fucking HODL market..

[Anonymous No.8361439]

>>8354027


>>8354027


>>8360246

[Anonymous No.8361512]

>>8359863
Doing the same

[Anonymous No.8361607]

>>8361324
15 min timeframe with very rough head and shoulders while still not at target of double top from daily chart, while also in the middle of empty space between 200 and 300 day MA's, with moderate support level at 8k, and most recent resistance level at 8.5k formed from floor of last consolidation period from 8.5k to 9.6k
and we dipped back into channel formed from peaks/dips from major dips and downtrend
result: still in major downtrend, no signs of reversal of overall trend yet, this is cool off period at the only clear support level in current vicinity

>>8361512
I always wonder how people trade bitmex with more than 15x lev with improper size compared to their equity. It honestly confuses me. the only times that I would consider more than 15x lev would be in situation where we had just entered a major short term panic and I would only ever take a tiny size compared to equity.
I only took position on this move at 8.4k after having confirmed downward move by consecutively breaking every support level in the area, and even then we came within 0.677% of my initial entry in the noise of the move down which is some ridiculous volatility on larger/higher margin trades

[Anonymous No.8361639]

>>8361324
you're right about the forming of an inverse head&shoulders pattern but no one has any idea if that will make it moon

a little while back another HUGE inverse H&S formed but after it dropped hard

[Anonymous No.8361749]

>>8361639
It dosent matter how big the head and shoulders are but from a risk to reward standpoint its a solid trade

>>8361607

Moving averages dont mean shit. Algos set up liquidity and blow it out thats all it does. Nothing is gonna tell you its mooning. Except the indicators you obviously live and breath off of... but that wont be untill AFTER shit went down..
Its called hindsight

Shillings please..

[Anonymous No.8361834]

>>8354027

Your count is same as mine OP, 6.5k is also perfect 1:1 extension of A wave.

[Anonymous No.8361870]

>>8361834
Elliot waves do not work

[Anonymous No.8361944]

>>8361639
he >>8361324
is showing a 15 min chart, with a very noisy inverse H&S,

you are looking at daily chart which also has a very noisy inverse H&S, but if that pattern was an actual inverse H&S we have confirmed a break-down of the pattern with this recent move down.
also, take a look at the near perfect double top formation using the two most recent peaks to 11.5k. it's a little clearer on the 12 or 6 hr chart.

my current hypothesis is either: a, we are forming the head of a large inverse H&S right now with neckline at 11.5K, or b, on our way to a rough double bottom pattern with bottom at about 6k or 5.8k and resistance/breakout level somewhere in 9.5 to 11.5k range, but hard to tell due to variance in the pattern.
final scenario is we break floor at 5.8k, initiate full scale panic, and bounce off of a big level somewhere around 5-4k where we encounter 500 day MA, and support level of 3.6-5k trading range from august to october 2017.

>>8361749
I try to trade with major trends. as in major consecutive breaks of support/resistance levels. safest trades are when you see potential for panic. parabolic panic drops always result in significant bounces with corresponding massive increase in volume as the bottom approaches/occurs. I use those as buy signals.
right now I see a major overall downtrend, that has not had enough signs of reversal to break out, and as such is continuing down strongly, with potential to form another big panic drop, so I'm taking advantage of these signs and following the downtrend with sizable, but proper positions. as we start to approach lower levels, I will close orders and stop shorting as risk increases at the extremes of movements and I will wait until I see signs of my panic and the bottom to start loading up on long positions to take advantage of a strong bounce

[Anonymous No.8361971]

>>8361870

They work for me fgt

[Anonymous No.8362000]

>>8354027
FUCK YES GIVE ME CHEAP FUCKING COINS NIGGER

[Anonymous No.8362011]

>>8361944
Your wave count is wrong even if you were trading elliot. SOO if you were trading elliot and your count was correct, the impulse swing expansion shows the primary wave has been completed...

[Anonymous No.8362088]

>>8362011
I don't trade elliot waves or fib levels
I trade mostly on support/resistance with some patterns as secondary info/reinforcement of major trends

[Anonymous No.8362114]

Unnecessarily complex charts like this are so fucking gay. Yes, BTC will go to 6k but this chart is retarded. All you had to do was draw the bear flag extension. Then a simple check of support levels will tell you that the most likely scenario is that we bottom at 5k, with a long "shakeout" wick to 4.7k which will be 'capitulation' level. All readers, you are welcome.

[Anonymous No.8362219]

>>8362114
Do you guys even trade? Do you know what market making is?

[Anonymous No.8362320]

>>8354076
This
E Wave theorist will move their wave count as the chart unravels.

[Anonymous No.8362322]

>>8362114
that is the basics, without much explanation. that's my thinking as well, but more timid/conservative/less confident traders will look for more explanation and pattern verification, and will take safer trades to capture the middle of the move and avoid playing with the risk that the peaks incur

>>8362011
here is a clearer picture of the double top pattern, has a slightly diagonal support line, but pattern is still very nice

[Anonymous No.8362450]

>>8362322
if diagonal line holds for the botom of the pattern, we will see a low in the low 7's which lines up with the 300 day MA level
this is my target exit for my short positions, and at that point, I'm just going to sit back and wait for a panic/bottom or a quick break of 300 day ma, where I'll probably open more shorts with target at 6k/5k where I will start opening long positions, but will keep in mind potential for test of 5.8/6k range and potential panic dip to high 4's

[Anonymous No.8362509]

>>8362450
Your relying on a trendline to predict price with no conceptual understanding of price action or market making

[Anonymous No.8362719]

[Anonymous No.8362752]

>>8362450
What

[Anonymous No.8362882]

The Discord Pump group that is unstoppable.!

https://discord dot gg/pbN4G73

[Anonymous No.8362943]

>>8362752
the large double top has a diagonal support/resistance line at the middle. the idealized pattern has a horizontal one.
if this pattern has a diagonal skew to it, and the bottom mimics this diagonal skew, the pattern gives us a target around 7100-7200, at which time the 300 day MA will have moved up to about 7000, providing a support level reinforced by the dip to 5800 which bounced off the 300 day MA, as well as the fact that there has not been a break below this support level.
although, depending on the situation, we may see either a small bounce, or full reversal. if we only see a small bounce and then continuation of downtrend, the next levels I am watching for are the base at 5800, and beyond that the 4500 to 4700 range where we see support from the previous trading range from 4000-5000 from the trading period between august and october of 2017, I will take trades based on what I see develop at these points

[Anonymous No.8363097]

It's not going below 6k until after the summer
It was a quick dump and pump to 6k last time. Whales are are buying your cheap coinz right now and they will sell them back to you around 10-11k.