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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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13420655 No.13420655 [Reply] [Original]

It is June 2020. Bitcoin is trading under $1,000. You aren't even aware of this. Why? You're broke now. You don't check the charts anymore. Bitmex ruined your life. You listened to /biz/ and longed $5,000, then $4,000, and then $3,000. That was your life savings.

>> No.13420673

>>13420655
Kys sage

>> No.13420682
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13420682

>>13420655
https://files.catbox.moe/7xgjhx.webm

>> No.13420693

In the last BTC analysis, I showed how the first 2015 golden cross happened exactly at the high of the move, causing BTC to retrace all the way to the 61.8 retrace. As you can see, we rallied up to the weekly 50 MA (in black) and pierced above it. However, BTC has now pulled back below the weekly 50 MA. It will be interesting to see where this candle closes. I am expecting it to close below the black moving average. From there, I am expecting to see price create a head and shoudlers pattern. You can see that we have what looks like half of a head and shoulders pattern right now, with a possible left shoulder, leading in to what could be the head. So, we did get the golden cross, and we did get the spike up like we saw in 2015. Now, we need to see if price will ultimately return to the downside here. Personally, I'm expecting BTC to return to at least the 4200 range, and possibly even lower.

The upside is now becoming more and more limited, while the indicators are flashing sell signals, and showing signs of exhaustion. I really doubt that there is much upside left, if any at all. We've rallied 80% from the low, and we are becoming increasingly due for a pullback in the coming weeks. In 2015, Bitcoin rallied 93% from the low to the high that pierced the hit the weekly 50 MA. So, this rally has been similar in percentage terms, and nearly identical in it's movement. So, until we see a major deviation, there is no reason to believe that price won't continue to follow the same general movement patterns that we saw in 2015.

Remember, it took months and months of testing for BTC to break down below the 6000 area. It is extrememly unlikely that BTC would be able to surpass it without some potentially big failures on the way back up.

I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.

>> No.13420713

>>13420655
>bearfag cope

>> No.13420735
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13420735

In 1876 economists and mathematicians theorised the existence of a economic-ecosystem that had reached a form of transcendence - creating an endless positive feedback loop. They proposed that such a system entering this state would begin what they called the Golden Bull Run. Various mathematical models were created to show what this Golden Bull Run would look like.

Through my PhD research I believe cryptocurrency may be entering the early stages of a Golden Bull Run. In this stage early investors could potentially earn an endless supply of wealth - as the system generates tangible wealth rather than just moving it around.

Economists believed that the slow nature of the stock market meant that harmful players could sabotage the emergence of the Golden Bull Run before it could get started. However it looks like the extremely fast paced nature of cryptocurrency means it is not susceptible to these types of attacks.

If I am right we could see something never before experienced in the history of the universe. Hold on while you can - takeoff is imminent.

>> No.13420743

>>13420655
It is June.

Bobo finally committed suicide