/biz/ - Business & Finance

>>56837150
He's 100% correct. You outed yourself as a chart-unaware newfag.

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Straight above where BTC is now, the resistance is at roughly 44k. So if BTC were to flashpump from here, it would break through the support with 45k/46k. So not only is BTC at the top of a big rising wedge (a bearish structure) while simultaneously the 1W Stoch RSI topped, but BTC is ALSO still below this giga-resistance by several thousand. So it's a very bearish situation indeed. Only the very most naive newfags and the most desperate baggies think the situation is bullish.

That said though, nobody should be surprised if BTC tests this giga-resistance before megadumping. Would make sense from an "let's engineer a bulltrap" perspective: a fakeout above the rising wedge, 40k+ happens, mega FOMOoing of the dumb money masses ensues, BTC hits the giga-resistance and BAM; super-flashdump of doom, maximum liquidation of low-IQ latefag longers resulting in a series of mega-long mega-red mega-dildos; a sustained megadumpage.