where will we go next

[Anonymous No.9550269]

[Anonymous No.9550278]

wake me up when it goes to the left

[Anonymous No.9550285]

>>9550269

DOWN

https://www.tradingview.com/chart/BTCUSD/DTkkK0C0

[Anonymous No.9550302]

Down a little then up

[Anonymous No.9550313]

>>9550285
/thread

[Anonymous No.9550341]

https://www.newsbtc.com/2018/05/21/nobel-winning-economist-shiller-bitcoin-could-be-another-failed-monetary-experiment/

>shiller

[Anonymous No.9550359]

Down

Abysmal volume is a the most aggressive sign that the bear market will continue

No new money entering the market, only whales manipulating the price up and down for maximum gains before the real plunge

Just remember that not even a year ago 8k / BTC (not even 20k) was an insane number to think about

[Anonymous No.9550361]

>>9550341
Shilling fud huh

[Anonymous No.9550446]

i believe this is the appropriate response to these kinds of consensus threads

[Anonymous No.9550836]

>>9550269
Down, everyones thinking bear along with me, and it's getting no new stimulation

LTC nigga here feeling comfy af rn

[Anonymous No.9550885]

>>9550359
Yep. They're trading alts to accumulate more eth/btc. Always been the end goal.

[Anonymous No.9550895]

Back to paint to draw new lines to create the wedge you want?

[Anonymous No.9550957]

>>9550269
>where will we go next

[reluctant kneepad girl No.9550967]

Fixed yo TA
Readjusting for VOLUME

[Anonymous No.9551532]

>>9550269
can any non brainlet tell me why he drew the lines like that? couldnt he have just as easily drew them like pic related? is TA really a meme?

[Anonymous No.9551565]

>>9550967
absolute TA.

[Anonymous No.9551585]

>>9551532
WRONG
t. idk

[Anonymous No.9551615]

Down to 3-4k and then back up. Bitcoin is not done correcting.

[Anonymous No.9551662]

>>9551532
Because this is /biz/. Expecting OP to have more than 2 digits IQ is retarded. Also no, you could not. You need 3 points of contact to draw a line.

[Anonymous No.9551663]

>>9550895
He's not me, pic related's the original wedge and they're zoomed out from 1 year ago. I'm not gonna become a tripfag over Wedges Everywhere Theory, but the immitators can't copy my original style anyway

WET is about ubermacro analysis and spotting an overall pattern, not predicting daily price variations

If you wanna try wedge theory yourself, zoom out completely and only use the satoshi prices of the coin you want to check

[Anonymous No.9551688]

>>9550957
seems legit

[Anonymous No.9551695]

>>9551532
There, fixed. Ignore the fake out.

[Anonymous No.9551697]

>>9551532
These are fake wedge lines created by a program. I (original wedgebro) create the lines without taking into consideration the extreme tops and lows, which are fucking fake anyway.

I also don't consider just recent supports and ceilings but try to capture the whole coin/token in the wedge.

[Anonymous No.9551701]

>>9550269
$1,000,000 usd an 2019

[Anonymous No.9551702]

>>9550957
>>where will we go next
WOW epic head and shoulders pattern on your chart!!

[Anonymous No.9551711]

massive dildo coming. rip altcoins.

[Anonymous No.9551747]

[Anonymous No.9551751]

>>9550957
>Removing the wick down to 6k on the left "shoulder" to make it look better

The absolute state of bullfags

[Anonymous No.9551771]

>>9551702
Terrible line quality with too little hardness

For jpgs to read correctly you need upwards of 80% brush hardness

For your WET plot to be correct, you need to zoom out and take the whole last year into consideration

Here's my most definitive proof that WET is a thing: I expect EOS to crash and burn for two months straight

[Anonymous No.9551817]

>>9550341
"No One Can Explain How Cryptocurrencies Work"
kek, this guy needs to do his own research.

[Anonymous No.9551828]

>>9551695
there it goes. So according to that btc is going to 9k? Also you used a bottom to start drawing the top line. You couldnt have joined 3 otherwise, is that why? are there no rules for this shit?

[Anonymous No.9551837]

The Wedge that started WET (Wedges Everywhere Theory)

REQ and LINK wedges meet in mid to end of June. This leads me to believe that mid June GDAX will list both REQ and LINK and this was KNOWN from almost half a year ago.

Tight wedges indicate smaller variations in price, which is apparently a prerequisite for a coinbase/gdax listing

[Anonymous No.9551847]

>>9551697
how can you TA alts when their value depends so much on btc movements? you'd need to take btc in consideration too with your TA which is not possible

[Anonymous No.9551879]

>>9551751
It's not meant to be TA, I drew random lines like everyone else. That anyone would take meme lines seriously when a few people control the entire market is what I find ridiculous.

[Anonymous No.9551899]

>>9550359

You have no idea what you're talking about, a reversal often coincides with a bottom in price and volume. In fact one of the most aggressive sell signals is a huge jump in volume that occurs right before the dump. The low volume with a stable price suggests almost every weak hand has been shaken out and only people who aren't afraid of losing money are still in this market.

Just think about it logically: a LOT of people bought above 15k, they will DUMP as soon as BTC even approaches 12k because they desperately want out of this market. So the price keeps dropping as smart money waits for these idiots to leave, eventually the price stabilises at a point where if it goes any lower smart money buys up, but no one is pumping so volume keeps dropping off. One by one these bagholders loses hope and sells into the smart buyers. Eventually as the volume and price movement is low and stable all of these people are squeezed out and the next bull run begins.

t. 12 years experience in trading, 6 years trading crypto.

[Anonymous No.9551920]

>>9550269
that's no way to draw a falling wedge OP, you only have 1 point of reference for the top whilst clearly you include another 2 points (11.6k) that are just floating inside this little triangle. Try drawing the line from our last top to 11.6k and then draw it on, you will get a 3th (4th if you include doubletop as 2 points) of reference and it will make a lot more sense.

[Anonymous No.9551921]

>>9551847
you can TA anything as many people using TA it becomes a self fulfilling prophecy w/ alts as most alts price action is made by active traders, hodlers just along for the ride

[Anonymous No.9551929]

>>9551837
REQ will moon after coinbase listing next week

I bought a 1 dollar and i waiting for this since january. WE MADE IT BOIS

[Anonymous No.9551951]

>>9551847
I only plot them on satoshi value. I do this because if a coin is worth more (according to insiders and whales) it would still gain in sats.

Even with massive amounts of manipulation, there are still some obvious accumulation periods with loads of volume on minimum price action

Also, if BTC prices where the only indicators, all the wedges would be the same.

If you plot your own wedges based on my guidelines (zoom completely out and use just two lines without taking the overtly fake peaks into consideration) you'll notice that not all coins and tokens have the same wedge.

As a matter of fact, I kinda became a believer in Cardano after plotting its wedge yesterday. It looks prime for GDAX

compare it to the EOS wedge (both are platforms and not just altcoins) you'll see which one is a pnd from whales and which one the whales are keeping on a tight range

The wedge is practically of the same steepness as LINK and REQ

[Anonymous No.9551953]

>>9551899
Are there any other signs you look for to find bottoms?

[Anonymous No.9552000]

>>9551953

bottoms are harder to spot than confirmed breakouts, both can never be fully trusted in crypto though

[Anonymous No.9552007]

>>9551921
actually TA will likely give you a few scenario's, the price action will determine which scenario is validated then. BTC doesn't like H&S's but many people do trade them on Bitcoin and they get burned, but everyone saw them. So how is it a selfulfilling prophecy exactly? You seem to not really know what TA is or how it even works.

[Anonymous No.9552015]

>>9551899
What do you think about my wedge theory? Please have a look at my posts and see if they make sense, it just looks too weird that LINK and REQ wedges have the exact same shape that fit the whole lifespan of the projects

[reluctant kneepad girl No.9552037]

Me channel line becomes much more visible using OBV

>>9551899
Good stuff XD

[Anonymous No.9552078]

>>9551953

Low volume and stable price with a StochRSI <10 is essentially the ultimate combination.

Just think of it in terms of market psychology, there's no volume, no news, it isnt in google trending etc, yet the price is 8.4k. This means RIGHT now most people who are buying for 8.4k, and most people who have BTC aren't selling. because if more people were selling than buying, the price would go down. So ask yourself, if there's no volume which means no buzz, does that mean the average person buying right now is a financial aware intelligent investor, or one of those instagram thots that were buying in December?

A stable price during low volume is the closest indication to a 'real' price that you can get for an asset. High volume means lots of dumb money, lots of hype, lots of idiots. There are plenty of people who could short right now and dump, yet it's almost as if there are people waiting to buy those dumps and they wouldn't work. So then take the market psychology further, imagine that smart investors/whales (whatever you want to call them) have their 'target buy', these aren't gonna throw up huge buy walls, they're going to have bots automatically buy when it hits target price. Once they have accumulated they start the shilling/pumping whatever, now how do you know that you have squeezed every last BTC you can at your target buy? When the volume bottoms out. It means there is no one left selling any lower, it means you have maximised your utility.

When high volume = sell, low volume = buy. It's that simple, because high volume is when smart investors are dumping, and low volume is when they are accumulating.

To test out my theory just imagine you were the whale, what strategy would you use to buy low and sell high? The one I outlined is the only one that makes sense.

[Anonymous No.9552080]

>>9552007

I only know TA at a very very novice level, but I have used it (w/ a combination of FA) when making swing trades w/ alts and have a very high success rate, so I'll continue to do my thing and learn as much as I can as I go (I learn something new almost every trade)

[Anonymous No.9552098]

>>9551899
interesting read, thanks

[Anonymous No.9552100]

This is terrible! Could somebody please find OmegaMaker, get hold of this motherfucker so I can make sense of all this. Where is Omega?

[Anonymous No.9552135]

>>9552080
Cool, I used to do that aswell, look into Elliot Wave principles (the theory), if you haven't yet guarranteed you will get something out of it.

[Anonymous No.9552137]

>>9552078
I agree, but should also mention the overall market sometimes with bottoms as a coin that appears to be completely bottomed out can sometimes see the floor fall out from under it if btc starts shitting the bed and more and more exit a position

[Anonymous No.9552138]

>>9551951
thanks, your TA ignoring mega tops and bottoms makes more sense

[Anonymous No.9552153]

>>9552080
>>9552135
You only need the basic understanding of elliot wave theory to understand the fundamentals theory, no need to technically apply it (though it's worth learning)

[Anonymous No.9552165]

>>9552138
I am actually convinced that mega tops and bottoms, as you call them, are the way whales obfuscate their moves from traditional TAfags

[Anonymous No.9552177]

>>9552078
but the biggest drops in price are high volume, shouldnt they be buying then?

[Anonymous No.9552185]

>>9552165
I think you'd like Wyckoff theory if you think that.

[Anonymous No.9552202]

>>9552177
No thats catching a falling knife, buying opportunities present themselves with multiple confirmations from different indicators and so forth. No need to rush anything ever.

[Anonymous No.9552212]

>>9552177
If the price drops really quick, then people buying those could easily get trapped and start a ''panic-sell'' meaning you'd be fucked buying into that.

[Anonymous No.9552217]

>>9552177

Biggest drops =/= bottom. The biggest drop for BTC was from 20k to 15k at extremely high volume. Smart investors aren't super geniuses who trade every minute and can predict the future (they aren't Bogs), they try to 'discover' good prices and hold those prices until they find the market overinflated.

The most effective way is to buy when volume has bottomed out (as long as you believe the asset has a future, so isn't bitconnect), and sell when the volume looks like it's topping out.

[Anonymous No.9552251]

>>9551899
So, predictions for next bull run? >>9552078

[Anonymous No.9552308]

>>9551615
Fucking this. Only when most people have capitulated and the HODL culture breaks, will the market return to bull.

[Anonymous No.9552329]

>>9552251

Someone once told me that smart people never make predictions, which is fair but since this is an anonymous board and their are no reputation consequences for being wrong, if you put a gone to my head this is what I'd predict.

I could be very wrong, and obviously my lines are more symbolic than literal, as in I try to predict shape, not extent of each top and bottom. It looks extremely 'optimistic' at the end, but then I don't think any of us would really be in bitcoin right now if we didn't believe another ATH could be achieved. So there you have it.

[reluctant kneepad girl No.9552347]

>>9552308
There another way break too:

Enough traders start eating away smart money / whales market share of BTC

[Anonymous No.9552395]

>>9552329
So we’ll be trading sideways until essentially another catalyst comes along it looks like. Who knows when that will be? (Summer, holidays 2018)?

Also, last summer the catalyst was “wait til the normies come”. They came and went. The next meme is the institutions. What’s your take on that? Is it a meme and when do you think that supposed rush of money is coming?

Good info btw

[Anonymous No.9552403]

>>9551899
Great explanation anon will they who control the market significantly drop the price even more to keep shaking or is it a decent time to put fiat in we seem to be at a relatively stable BTC price for a couple weeks which is 3 months in stock time.

[Anonymous No.9552419]

>>9552395
Normies will fomo in next major bull run though, except the ones that got majorly burned buying the top last time

[Anonymous No.9552479]

>>9552403

I don't think they can drop the price further, that's my point. Remember there is an economic cost to dropping price, imagine you theoretically dump using 10MM USD, right in order for that to be economically favourable, you then need the pump to EXCEED your initial cost of 10MM. This is why when you dump you need to KNOW you can shake out significantly more people, and then when you pump you need to know that the price won't recover too quickly.

This is why pump and dumps are difficult and coordinated, I need to spend 1MM to drop the price by 6%, but then I need to buy enough that if it recovers I make that money back, so there's TWO risks, failure to repump, and then failure to trigger a pump. This is why pump and dumps are a lot more subtle than described by inexperienced anons, most pump and dumps on a large cap asset like bitcoin take place over months and months and they're more like bleed outs. The drop in volume is the biggest indicator that dumping further won't do anything. See if the volume is this low that means that yes it's easier to dump the price, but I need others to dump it further after that. So even if someone dropped the price of BTC to 7k right now, they'd need OTHER people to be selling at 7k to drop the price even further, and we on the outside have no way of knowing how much of the drop was them spending their money and how much was people holding up until that point.

Right now this volume indicates that it's very likely the market manipulators have realised no one else is dumping and have decided that any dump now would be sunken money. I believe we are halfway between a huge 'cup' so this is the low volume bottom, that means the next top will likely be as far from now as the last top, which conveniently puts us at exactly december (look at the curve in my pic, its essentially six months to the bottom of a perfect cup thats 1 year long, almost by design). Then a handle for 3 months where we dip to 15k, then ATH after.

[Anonymous No.9552485]

>>9552419
no they will get burned a second time, guarranteed.

[Anonymous No.9552515]

>>9552479
wow, have you actually written any of this market psychology down? i'd be really interested in reading it (and paying for it). It's hard to come by proper information on FA and TA.

[Anonymous No.9552518]

>>9552479
Do you have a Twitter I can follow?

[Anonymous No.9552578]

>>9552479
I-I want to believe

[Anonymous No.9552584]

>>9552479
This is exactly what I want to hear. Which ofc means its bullshit

[Anonymous No.9552662]

>>9552584
was thinking the same shit that's always how is I think because it's very logical and not much theoretical underpinnings that makes me want to believe

[∂ leCH4T3AUX No.9552670]

>>9552518
>>9552515
>>9552584


No, maybe I should start one. Gonna tripcode this post for now in case people would be interested in a longer analysis tmrw when I'm not sleepy.

I threw this pic together in photoshop to better highlight what I meant. Ignore the rorschach-y symmetry it's more to highlight how perfect this looks. Almost as if they've been 'painting' this the whole time. Just ask yourself if you saw this chart in a years time, would you think 'oh man it was so obvious!' whether you want to believe this is the inherent nature of certain functions and shapes representing human behaviour on large enough timescales, or whether you believe its because of conspiring market movers who paint these charts to cause ever increasing FOMO, to make you feel like the market behaves so predictably on some timescales but so irrationally and terrifyingly on shorter ones, I don't know, that's down to your personal biases. I believe it's a bit of both, yes cognitive biases and patterns exist, but certainly people exploit and exaggerate these.

Regardless I believe this low volume is essentially the hallmark of the bottom of the cup, then we'll be coming back to near ATH in december leading to a double fake out as normies tell themselves 'this time I'll cash out early' then end up FOMOing even harder when the price doesn't crash. You could argue this is a self fulfilling prophecy, as Soros calls it 'reflexivity' where the lack of a crash makes people think 'this time it IS different' and they FOMO in harder, creating the ATH at the end of the handle.

I like to think of this like a playbook, humans have certain biases and fears that can be 'set up' into position with minimal manipulation, and then triggered. Market makers can't just arbitrarily pump and dump, it wouldn't be efficient, statistically their expected profit would be negative over time. Instead they are like the first domino, they set up the pieces and then trigger the crowd.

[∂ leCH4T3AUX No.9552724]

>>9552670

See everyone looks at past charts, that means we all experience similar biases and fears. Even the Bog memes indicate that the general experience for 99% of people in trading is similar, just like most people all share primal phobias due to prior experiences as a society, so to do most traders develop fears and experiences. It's evolution, we *hate* repeating past mistakes. This makes us very cautious when patterns start to repeat, and then very reckless when those patterns don't play out.

This is what makes 'fakeouts' so effective, first you paint the bull flag, then it fakes out, so you short, then it WAS a bull flag all along and you're double JUST'd. This isn't just coincidence, I think people used to argue it was just hindsight colouring our worst experiences, but lately the barting has almost PROVEN the extent of manipulation. The way you'd have three consistent barts then a fakeout bart etc. So there's a playbook of patterns, you set one up, fake out, then set up a fake out, play it out predictably etc. This is why patterns repeat, but the EXTENT the pattern 'plays' out varies. Sometimes its 50% of the pattern and then sudden shift, sometimes 90% and then sometimes 100%.

This is why you can't be too reflexive as a trader because you WILL get eaten. This is also why on the one hand I don't believe that we're going to follow the MtGox pattern all the way, we've followed it closely, but now I think it's building to a huge cup and handle. Then after the cup and handle they'll just recycle some other pattern.

Or it could all be fractals, I'm just a guy, I don't know. But I stand by my statement that low volume isn't a bad sign in this market.

[Anonymous No.9552733]

>>9552329
2021.

[∂ leCH4T3AUX !n4kjnK.eyg No.9552737]

>>9552724
>>9552670

Fucked up the tripcode.

[Anonymous No.9552893]

Thanks Bro! Very informative. Good to have time to time someone like u.

[Anonymous No.9552925]

>>9552724
>low volume isn't a bad sign
I'm not sure why people always say that low volume is bad, from what I remeber and learned in economics, high volume usually means a top has reached as the majority of people are top buyers and not bottom buyers. The low volume usually indicates a lack of interest and a bottom, even if you look at the chart on BTC you can see that the bottoms have significantly lower volume than the tops and I made some really good trades using this principle.

Maybe you know the ''liquidity trap'' it's essentially people buying the top, volume dissapearing and they get trapped, they start panic selling instigating a rush down, smart money doesn't buy but waits for it to bottom out, so the low volume bottoms are where you want to get in on a trade.

[Anonymous No.9552999]

>>9552724
Thanks mate I'm learning everyday sucking up TA knowledge like a sponge. But this experience and analysis of smart money has just helped me immensely .

Are you on a discord or anything?

[Anonymous No.9553004]

>>9550285
Up, we are fucking going up you idiot.

[Anonymous No.9553015]

>>9551837
I like this. Tell us more.

[Anonymous No.9553022]

>>9552737
Brilliant analyses lad, I enjoyed reading that and honestly it made me super bullish. Gonna keep slowly accumulating BTC during this lull while I still can.

[Anonymous No.9553032]

I just dont see people selling below 6k

[Anonymous No.9553049]

>>9552724
>>9552925

Looking at the daily on BTC I noticed the highest BTC days were on the bottoms though? Do I need to be looking at smaller time frames to spot low volume?

[Anonymous No.9553058]

>>9553049
Volume days* Sorry half asleep!

[Anonymous No.9553088]

>>9553049

Because you're looking at individual days with a sharp drop off because the previous day was a huge pump. These are outliers because they're a consequence of the crash. You need to look at sustained low volume, several days of it, along with looking at other indicators too (StochRSI etc) to get a holistic picture.

[Anonymous No.9553107]

>>9553088
>>9553049
>>9552724

Plus recall that it's important to consider trend. Flatlining volume during an uptrend is NOT an indicator for a bottom, you need to be looking for reversals. So a down trend that then turned into an uptrend. So you need to go back a few years since we're now IN a downtrend, and before that was an uptrend. You're looking for the last downtrend reversal. So after MtGox.

[Anonymous No.9553114]

>>9553049
hm I just look at CMC, you can see for example that 11.6k had about 6-7billion volume and our bottom at 6k had about 3-4 billion volume.

[Anonymous No.9553139]

>>9552737
You should start a Twitter or telegram very helpful advice which is rare in the shit hole of the internet

[Anonymous No.9553172]

>>9551817
>No One Can Explain How Cryptocurrencies Work
So this is the state of economists.

[Anonymous No.9553209]

We went up, we went down, we wnt sideways. Who the fuck know m8. Crypto is violated af

[Anonymous No.9553585]

>>9552724
Read all your posts, thanks for this. You should make a twitter or something.

[Anonymous No.9554097]

Whales also dont want to take chance now. Big investment money is comin in any time. Family funds is already in. Its the calmness before the storm.

[Anonymous No.9554262]

>>9550269
Into a bigger falling wedge. Its never really going to pump

[Anonymous No.9554348]

>>9551899
shhhhhhhhhhhhhh

[Anonymous No.9554361]

>>9552078
>no news
dude we just had consensus and MSM saying BTC could hit 50k. There has been nothing but good news apart from the May 7th FUD and we still dropped. I want to believe but it seems itll be a while before we hit ATH again

[Anonymous No.9554363]

>>9552419
people lose all their money gambling and come back for more, they'll be back

[Anonymous No.9554405]

>charting in paint on cmc

Holy fuck my autism is triggered

[Anonymous No.9554444]

>>9554405
because its line graph it must be CMC? did you even look the picture..last time I checked cmc dont look like that, also this is a 5 sec 'charting' meant more to start a conversation

[Anonymous No.9554513]

>>9550285
wow this is impressive

[Anonymous No.9554541]

>>9554444

Not the op but some other replies

[Anonymous No.9554551]

>>9551899
>12 yrs trading, 6 yrs in crypto
>still wastes time effortpoasting on /biz/

everything you say sounds plausible, but you leave out psychology...at this point, what's the incentive for new funds to move into btc to push price higher. there's more of an incentive for them to sideline and wait until the price declines. there's absolutely no hype this time, unlike back in 2017 with all those forks and people buzzing about "Free money". now you have to just wait until the big players make moves. but as you can see, they are either buying conservatively, or doing nothing. this isn't a consolidation pattern. it's still on a downtrend but holding nicely at a much higher support than previously.

basic TA: resistance becomes support. if it breaks sharply below $6K-$7 then it's confirmed to go much lower.

for me, i would rather just wait it out than get back in now. that's just my opinion.

[Anonymous No.9554568]

>>9554551
honestly if I was a billionaire I would still shitpost on /biz/
actually i'd just shitpost and eat roastie ass all day

[Anonymous No.9554821]

>>9550836
>Unironically holding LTC
How's it feel to be a retard?

[Anonymous No.9555013]

>>9550269
It doesn't matter where Bitcoin goes. It only matters where the total market cap of cryptocurrency goes, and daily volume. Stop thinking Bitcoin is the end all, be all, of this game.

[Anonymous No.9555391]

>>9552925
>I'm not sure why people always say that low volume is bad
Guees you've ignored the REQ FUD

[Anonymous No.9555449]

>>9550285

Yes but imo it won't be a strong dip, just enough to catch the bears out

https://www.tradingview.com/chart/BTCUSD/NbEVaGo3-Bullish-Breakout-for-BTC-on-the-horizon/

[Anonymous No.9555576]

>>9551615
>$2,800
>or $75,000

Brb accumulating

[Anonymous No.9555700]

>>9552479
I had the same feeling but you explained it beautifully. Thanks for your opinion anon.

[Anonymous No.9555781]

>>9553107
Thanks for sharing your knowledge.

[Anonymous No.9555929]

>>9551899
nice post

[Anonymous No.9556801]

DLT chart looks like a carbon copy of REQ. Gdax confirmed on a $20 million cap shitcoin? Maybe. A good buy regardless.

[Anonymous No.9557302]

I feel like I just found a TA goldmine and there is too much information to carry

[Anonymous No.9557329]

>>9550885
That would require an altseason, I don't see it?