/biz/ - Business & Finance

Well, /biz/ ?

Did Bitcoin become a frog in 2019?

The 1W Stoch RSI just began falling, but it didn't fully top out (that is; 100-100). That's of note despite it not having fully topped yet, due to the 1M having been at exactly 100-100 (both blue and orange together fully maxed flat) about as long as the period before the April 2021 top.

The 1D however is bottomed, so expect some small pumpage in the near future. And on the even shorter timeframe, the 1H is bottomed as well so expect a tiny pump or pause in the dumpage soon. Logically both of these are related to the support around 64.8k and 60k. So don't be surprised if various bounces above 60k occurs the proper big dumpage starts. You already see BTC "hesitating" to go below 65k; yeah, that represented in that 1D and 1H being bottomed.

So in other words, BTC is dumping to somewhere between 40k and 20k, but don't expect that to happen quite yet; some crabbing and bouncing around is to be expected first.

What went wrong?

It's important due to its relevance today: https://www.tradingview.com/chart/BTCUSD/n8h2CGR7-BTC-Next-Steps/ -- at first glance it looks MESSY, but there's actually only 2 things going on there; #1 is the Fib circles (which weren't drawn; they are pre-existing mathematical things which are where they are due to Bitcoin itself) and #2 is the red lines. There are a few other (more minor) things but those can be ignored. The Fib circles take up lots of space and what causes the messy look, but they're themselves very simple. If you're high IQ enough to look past the superficial messiness and see what's going on, you'll find certain things within that chart EXTREMELY interesting and relevant to the current situation after you've played to make it up-to-date and moved the chart around a bit. For instance the price is RIGHT NOW sitting JUST AT one of the Fib circles. What a """coincidence""" the new ATH would happen EXACTLY at a Fib circle established by Bitcoin in late 2019 (they radiate out from that late 2019 area) right? Riiight. The other main thing, or key thing, of interest to notice in the chart is that BTC is now at the equivalent of June/July 2019 (see the price action in relation to the bottom red line; cool right?). Something else to note is after playing the chart to get all the current candles, if you picture in your mind a NEW top-downward pointing red line going from the April 2021 top through the Nov 2021 top and the recent candles, positioned through the candles --> in the same manner as <-- the one starting in Dec 2017 ending in June/July 2019 then you'll see another quite interesting thing.

Anyway just wanted to share this amazing find, before the big one happens. The vast majority of charts on tradingview are absolute garbage but sometimes one finds gold nuggets like these. Usually the most interesting and best charts are old and forgotten charts from several years ago that were done in such a special or unique way they're still relevant years later.

What went wrong?

BORING

What went wrong?

Why did the bullrun fail?

>69k ATH (Nov 10th 2021)
>64.8k ATH (April 14th 2021)
both VIOLENTLY rejected

You were warned about the 4H Stoch RSI: >>57836464

Also, protip, check the MONTHLY.

What went wrong?

What went wrong?

Something really bad is about to happen.

BTC yet again hit the long-term super resistance. That is, the long-term support that turned into resistance; the support which has its origins in 2013 which the global BTCUSD market began trading as THE support in 2015 which failed in September 2022 and has ever since been traded as resistance. When a support turns into a resistance, the longer the support lasted and stronger it was; the stronger a resistance it becomes. BTC has tested this super resistance multiple times since it was transformed from support into resistance (Sept 2022) and each time BTC has been violently thrown down. Since this resistance is on such a zoomed out scale there's no exact numbers to go by and it's more of a "zone" or "area" of resistance, rather than a strict hard wall. BTC could pump a little bit more and still be *at* the resistance, be within the zone/area of the resistance. Since the resistance is angled upwards the numbers are higher going forwards in time. So if BTC dumps now and retests the resistance yet again later, then it will be doing the retesting at a higher number.

Here's the long-term support-turned-resistance graphically visualized to make it easier to see: >>/biz/thread/56938913 -- That time, shortly after that thread BTC wicked over the resistance with a few k and then dumped to 38k. It's the same situation now but with higher numbers since we're further forward in time now.

If BTC were to pump up above this hyper-resistance and it once again starts being traded as the support, that would be super bullish. So far that hasn't happened though -- each time so far BTC has been violently thrown down.

New bear market just begun.

This is it. The big crash is upon us.

What went wrong?

The 1D Stochastic RSI is totally topped now. It's been at 100-100 for 3 days now, soon 4. This is approximately the max amount of time that the 1D ever stays topped (the 1W in comparison can stay topped for much longer). The 1W has not bottomed yet.

>the buyers suddenly disappeared
Huh. Something's going on.

Looking at the chart right now, it looks like Bitcoin is about to crash.

DAUBELLO TOPPO DESSUUUUUU

IT'S HAPPENING

A lot of people who didn't sell when BTC was at 45k-49k earlier wished at 39k that Bitcoin would go back up to 45k-49k so they'd get a 2nd chance to sell in that/this price range. Many of those individuals aren't making use of this 2nd chance. They won't get a 3rd chance.

And /biz/ isn't freaking out. /biz/ is dead.