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File: 144 KB, 923x609, ascendingwedge.png [View same] [iqdb] [saucenao] [google]
9031386 No.9031386 [Reply] [Original]

Rising Wedge on the daily. Another failed attempt at $9000 a few hours ago (didn't even touch $9000 that time). RSI the highest its been since December on 12-hour, daily, etc. Bearish MACD.

Expect a correction to $8500. If the market is still too fragile to handle that then we might see a full resumption of the bearish trend and retest the $6400 range.

>> No.9031408

>>9031386
The last couple of rising wedges broke upward. I think the market manipulators are doing it on purpose.

>> No.9031411

>>9031408
like you shit on the street ironically?

>> No.9031421

>>9031408
This wedge covers the entirety of the rally we're in. The results of any mini wedges contained within it are irrelevant.

>> No.9031425

Lol, you moved the upper line AGAIN. Also RSI bearish div is gone.

>> No.9031429

You use way too much indicator shit on your charts, op. It's a mess.

I agree a pull back to low 8000's is in the cards but 6400 is a stretch. Too much buy pressure to allow it, I think.

>> No.9031463
File: 393 KB, 493x342, 1522036444874.gif [View same] [iqdb] [saucenao] [google]
9031463

>ta works in crypto

>> No.9031477

>>9031429
I was too lazy to turn it off and delete some of my older trendlines. Just note the pink and green.

I also think $6400 is unlikely, but I'm putting it out there as a potential target if the rally does end up collapsing under the pressure of another $500+ sell-off. I'm not sure there's enough confidence in the market to weather that yet.

>> No.9031531

>>9031477
Also note that I don't think we'll hit $6400 over night if we do end up breaking down. It'd be a process, just like it was a process getting us from there to where we are now.

>> No.9031674

>>9031421
If this acts like a fractal then the pattern is rising wedges breaking up.

>> No.9031726
File: 118 KB, 1024x853, blackHole.jpg [View same] [iqdb] [saucenao] [google]
9031726

>>9031386

>Ignores breaking upwards
>Ignores long term downtrend broken on the linear and log scale
>Ignores indecisive daily doji printed 5 hours ago
>"Hurr durr I see ascending wedge so it must dump!"

I'm sure it's been fun learning TA since yesterday but please don't share your horrible analysis with the brainlets that occupy this shithole. They might just sell before the obvious bull run we're about to experience

>> No.9031736

>>9031386
true rising wedges have a bearish div with each of the peaks
the last pump invalidated that

>> No.9031813

all this wedge talk makes me hungry

>> No.9031824
File: 10 KB, 275x183, download (1).jpg [View same] [iqdb] [saucenao] [google]
9031824

>>9031813
Forgot pic

>> No.9031826

>>9031386
>the market will either go up or down

>> No.9031842

>>9031826
To be fair, I didn't say this. I said it will go down.

>> No.9031875

>>9031386
holy shit OP your criteria for line drawing seems faith based.

>> No.9032170

my buy order is at $8100 and BY SHEER WILL POWER I WILL FORCE THAT TO BE THE ABSOLUTE LOWEST IT EVER GOES FOR THE REST OF TIME

>> No.9032252
File: 42 KB, 317x464, 5B48039A-2CF3-4190-906D-34CE7258977F.jpg [View same] [iqdb] [saucenao] [google]
9032252

>>9031386
Looks like a nice cup and handle forming

>> No.9032473

>>9031386
watch as all of your predictions, your lines, and your faith in technical analysis are destroyed when there's another gigantic bull dildo up to 10k and beyond today, solidifying the start of the bull run. I believe in TA but if you think it will work on BTC you have either not been watching the price action for the past few weeks or you are deluded. The price will go wherever the biggest holders want it to go.

>> No.9032498

>>9031386
Rising wedge will break upwards. This is Bitcoin, not a stock.