/biz/ - Business & Finance

Topped.

The Stoch RSI is properly bottomed on the Daily timeframe, so for now (on short timeframe) either the dumpage is over or most of it is over. The dumpage resumes later, as the 1W is only halfway down and the chart is extremely bearish in multiple ways. In particular with regards to the huge rising wedge (which we had an excellent thread about here: >>/biz/thread/56831656 on Dec 1st): on January 22nd the market confirmed the breakout above the rising wedge was a fakeout; the market is now trading BTC within the rising wedge again. The floor (of the rising wedge) beneath the current Weekly candle is ~31k; in early Feb it's ~32k and in late Feb it's ~33k. So we won't know for sure until those numbers if BTC is breaking beneath the rising wedge or if BTC bounces from the bottom of it, however as the fakeout already occurred there's most likely no more "life" left in the rising wedge -- and it's a rising wedge after all (bearish).

However keep in mind the bottom of the log curve (the self-manifested log curve established by BTC's candles – which the whales have used to trade the tops and bottoms since 2015 – visualized for example here in red: https://tradingview.com/chart/BTCUSD/fgHyZdze-Good-Morning-Bitcoiners/ ) is only a few k beneath the rising wedge at ~28k currently and ~29k late Feb. So don't expect any major dumpage below the rising wedge. A bounce from the bottom of the log curve is almost guaranteed as the whales always buy in there (and sell off at its tops). If, though, they'd let the price fall (significantly, say 5k -- not just ~1k followed by a quick pump as in Dec 2022) beneath the log curve bottom, then of course you can expect sub 10k very easily and quickly as the market would by then be in entirely uncharted waters with no obvious bottom in sight.

So for now a pause in the dumpage and possibly a bounce; 40.5k is very likely and 41k-42k shouldn't surprise. Such a bounce of course is meaningless, just informing you of it regardless.

You are scammers. You con people who don't understand economics or basic IT. You encourage them to gamble while calling it an "investment". People end up losing significant amounts of wealth. You are hurting families and hard working citizens. When the high courts of Western countries begin their regulatory crackdown on crypto, you will have earned it. You have it coming.

Oldfag here

Every price movement below old ATH is basically sideways and shouldn't be given any attention, let alone evoke emotion. Your job right now is to sit tight and not fumble your bags. That's all you have to do.

What went wrong?

What went wrong?

>>56930883
>BTC: Struggling at 44k
>What went wrong?

What went wrong?

What went wrong?

What went wrong?

What went wrong?

What went wrong?

What went wrong?

What went wrong?

What went wrong?

What went wrong?

Prepare for the crash.

Oldfag here

The next move is an old-fashioned BTC only rally powered by recent altcoin gains

Previously at ~36550, you were told Bitcoin would pump: >>56672096 and to check 4H Stoch RSI for confirmation. It pumped to 37950 after that post.

The 4H Stoch RSI has now topped and is falling. It topped at 37950. So the 4H is now falling –> in conjunction <– with the 1W also falling from its top. The 1D is pretty low but the 1D (especially as it's not at 0 or 100) doesn't mean anything either way (whether price will pump or dump) right now considering the current positions of the 4H and 1W. Crucially this Stoch RSI data must be combined with the situation regarding the massive Rising Wedge which the market is trading BTC within; the price just bounced down from the roof of the wedge (if it had broken out above it, despite the Stoch RSI data, that would've been a bullish sign - it didn't). If a fast and sustained dump occurred from here, then BTC would hit the floor of that rising wedge somewhere between 27k and 30k (depending on the speed of the dump). If it gets to the bottom of the wedge, what you need to look out for then is whether it bounces up or falls through. If it falls through the floor of the wedge and then goes below 25k (that's currently of course; weeks from now the crucial number would be higher) then the situation would be extraordinarily bearish in an unprecedented way as the price would be significantly below Bitcoin's self-established [1] logarithmic curve which within the whales have traded Bitcoin since 2015 (they always bought in at its bottom and always sold at its top).

—————————————————
> [1] The one manifested purely by Bitcoin's price action and entirely based on BTC's candles, which was fully established in 2015 and has since been used by the whales to sell the tops and buy the bottoms (effectively causing the price to never go above the roof of the curve or below its floor; with the exception being at 15.5k where it was ever so slightly below - which was worrying enough): https://i.warosu.org/data/biz/img/0560/28/1693915553837617.gif

Previously at ~36550, you were told Bitcoin would pump: >>56672096 and to check 4H Stoch RSI for confirmation. It pumped to 37950 after that post.

The 4H Stoch RSI has now topped and is falling. It topped at 37950. So the 4H is now falling --> in conjunction <-- with the 1W also falling from its top. The 1D is pretty low but the 1D (especially as it's not at 0 or 100) doesn't mean anything either way (whether price will pump or dump) right now considering the current positions of the 4H and 1W. Crucially this Stoch RSI data must be combined with the situation regarding the massive Rising Wedge which the market is trading BTC within; the price just bounced down from the roof of the wedge (if it had broken out above it, despite the Stoch RSI data, that would've been a bullish sign - it didn't). If a fast and sustained dump occurred from here, then BTC would hit the floor of that rising wedge somewhere between 27k and 30k (depending on the speed of the dump). If it gets to the bottom of the wedge, what you need to look out for then is whether it bounces up or falls through. If it falls through the floor of the wedge and then goes below 25k (that is currently of course; weeks from now the crucial number would be higher) then the situation would be extraordinarily bearish in an unprecedented way as the price would be significantly below Bitcoin's self-established [1] logarithmic curve which within the whales have traded Bitcoin since 2015 (they always bought in at its bottom and always sold at its top).

———————————————————
> [1] The one manifested purely by Bitcoin's price action and entirely based on Bitcoin's candles, which was fully established in 2015 and has since been used by the whales to buy the tops and bottoms (effectively ensuring the price never went above the roof of the curve or below its floor; with the exception being at 15.5k where it was ever so slightly below - which was worrying enough): https://i.warosu.org/data/biz/img/0560/28/1693915553837617.gif

Check the 4H Stoch RSI for confirmation on this.

So don't short right now.

Hopefully you secured your profits.

When this rally retraces BTC Dominance will go to 65%

oldfag here

This is a frontrunning market. That means it will go against normie buying schedule. ATH will be around halving, when normies FOMO because of le Benjamin Cowen fractals it will go into bear