/biz/ - Business & Finance

That would be the ugliest fucking right shoulder....
But shorting from rebound off resistance would be legit trading

>>13092345

astute analysis

>>13092321
Basically implying one more correction on BTC If I am following correctly

>>13092361

keen insight

>>13092391
The bull trap of the bull trap

>>13092482

are you making this up brochacho?

>>13092669
I don't follow

>>13092889

cherry picking to fit your narrative or is it the real deal what the chart is telling you not what you want to see?

So from my understanding sub 3k possible sub 2k is on the horizon this year.

>>13092942
This chart is sort of the culmination of a few factors / assumptions:
1) The MA which BTC finds support on is double the MA of the previous cycle support (100 MA for first, 200 MA for second, and proposing 400 MA for current)
2) Volume levels for true capitulation does not indicate it was bloody enough
3) Symmetry in the overall resistance / support lines on the way down (purple green and blue lines). We see each time the purple is broken, BTC enters a symmetrical triangle formation, with two major rallies to the upside, the second rally ending in a HIGH volume fake-out event which passes the top of the blue resistance line. After the fake-out, we begin our slow descent for the next major dump on high volume.
4) Alts will continue to pump for the next little while as a variety of different sized whales pump and off-load their alts to accumulate BTC. Alts overall aren't thriving, random pump and dumps here and there, but no indication of real inflow of fiat / USDt into bitcoin or alts.
5) All this new capital will be used to dump us to the next target line.
6) 2017 ATH IMO was over-stretched, and a 90% drop would place us at $2000

This will likely happen before the end of Q2 2019, IMO of course