[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


View post   

File: 259 KB, 1324x1076, Wyckoff.png [View same] [iqdb] [saucenao] [google]
19232517 No.19232517 [Reply] [Original]

Change my mind.

>> No.19232552

>>19232517
Where's your sell order? Also: this goes below $3 again, I am all in.

>> No.19232615

>>19232517
>BC—buying climax
>AR—automatic reaction
>ST—secondary test
>SOW—sign of weakness
>LPSY—last point of supply

>>19232552
I'm all in cash. I believe it will go significantly lower than $3. It's fine to DCA, but be wary of catching a potential falling knife.

>> No.19232624

WE ARE ALL IN THIS TOGETHER

DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!

THIS SHIT IS GOING TO REACH $1,000 EASILY!
HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!

VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!

>> No.19232647

Didn't read, not selling

>> No.19232657

>>19232517
it absolutely is, anyone who hasn't sold their link yet is a fool overly attached to their secret club babbys first investment.

>> No.19232675

didnt read not selling

>> No.19232678

>>19232517
but the bitcoin bull was just prepped today, link will follow

>> No.19232749

>>19232657
>anyone who hasn't sold their link yet is a fool overly attached to their secret club babbys first investment
Yep, as evidenced by:
>>19232624
>>19232647
>>19232675
>>19232678

>>19232615
Forgot:
>UT— Upthrust

>> No.19233508 [DELETED] 

Bump

>> No.19233557
File: 5 KB, 416x30, Screenshot at 2020-05-11 23-09-14.png [View same] [iqdb] [saucenao] [google]
19233557

Fuck this shitcoin and its deluded normie fan base

>> No.19233597

What would make you change your mind?

>> No.19233596

>>19233557
Based. My sell was lower than yours. You sold basically the local top. Congrats.

>> No.19233646

>>19233597
A sound argument to the contrary made by someone who doesn't impulsively shriek "MEME LINES!!!" whenever technical analysis is mentioned.

>> No.19233677
File: 1 KB, 50x94, cleavage.jpg [View same] [iqdb] [saucenao] [google]
19233677

>>19232517
Excellent analysis.

>> No.19233771

>>19232517
A distribution doesn't last a fucking year in crypto, fudding retard.
The move up in 2019 was based on fundamentals. Fundamentals didn't change, they became even stronger. If you think we are going sub-2$ you are legitimately insane. But most likely you're just a fudding faggot who decided to scare newfags with smart-sounding "legitimate" TA

>> No.19233861

>>19232624
YOU ARE A MANIAC

>> No.19233889

>>19232517
Nooooooooo. Not the heckin wykrofterino! My linkiiiieeeees!

>> No.19233901

>>19233557
Poorfag

>> No.19233916

>>19233646
It should be distribution and it probably is.
People kept saying that about eg. Link in May 2019, and BTC's numerous consolidation ranges in 2017. Look how that all turned out.
Not going to tell you what to do, but my plan is to weather it all.

>> No.19234033

>>19233646

Crypto is too low volume for proper TA, which is good at characterizing price action and trader mass psychology in well-regulated markets with good volume. By being so low volume, crypto is easily manipulated and especially volatile in the face of news. Case in point: the movements that make up your analysis correspond to distinct real world events that caused hype and buying--- mainnet announcement, google cloud blog post, etc. I would absolutely not apply TA to that, and for me that invalidates your already overcomplicated TA theory. Right now it's astrology; searching for and projecting meaningful arrangements in the stars.

>> No.19234046

>>19233771
>A distribution doesn't last a fucking year in crypto, fudding retard.
Why do you presume to know what does and doesn't happen in a market that has only been around for a decade? A coin that started out around 11 cents and is disproportionately controlled by whales absolutely can be in distribution for a year. Sub $2 is all but guaranteed, and even Sub $1 is likely actually. You are in for a rude awakening.

>> No.19234079
File: 32 KB, 413x395, 1517784715903.jpg [View same] [iqdb] [saucenao] [google]
19234079

>>19232517
How drunk are you?

>> No.19234099

>>19234079
I've never had a sip of alcohol in my life. It clouds the mind.

>> No.19234372
File: 80 KB, 886x898, 1589910992423.jpg [View same] [iqdb] [saucenao] [google]
19234372

>>19234099

>> No.19234400

>>19232517

SOW is supposed to dip lower than the AR. We don't see that on the chart, so how can you argue it's a wyckoff distribution?

>> No.19234427

>>19234033
>Crypto is too low volume for proper TA
learned this the hard way

>> No.19234662

>>19232517
did read; considered; not selling

>> No.19234867
File: 157 KB, 1080x607, IMG_20200520_181600.jpg [View same] [iqdb] [saucenao] [google]
19234867

>>19234400
>SOW is supposed to dip lower than the AR
No, not necessarily. SOW is just supposed to move down to the lower bound of the trading range, which it does in this case. It CAN move slightly past it , as in the template, but it doesn't have to.

>> No.19235240
File: 86 KB, 1324x877, Screen Shot 2020-05-20 at 6.38.52 PM.png [View same] [iqdb] [saucenao] [google]
19235240

>>19233646
TA is legit, but always remember it is merely increasing your odds at successful investing rather than giving you actual predictions. Your analysis is valid, however considering what is going on in Macro, you may want to sit back and think about why it isn't a good idea to sell risk assets right now. I'm not saying "haha BRRRR inflation buy bitcion as a hedge", I'm saying the excess liquidity may be spilling into the crypto market. So any bearish analysis that doesn't properly prove to me that excess liquidity is not influencing prices I think is kind of useless to look at. Right now I'm thinking about whether or not the Fed's printing is actually being used to buy risk, or if that is merely a psychological mechanism. That, to me, is the ultimate question. You wanna be long LINK if all of crypto goes up because of liquidity from the Fed.

Btw pic related is my bearish weekly chart for LINK. Bearish divergence. I'm bullish until further notice though.

>> No.19235264

>>19233861
Dude so are you! you're in every thread posting this. The definition of insanity is doing the same thing but expecting different results!

>> No.19235386

>>19235240
>excess liquidity
governments and businesses are literally on the verge of insolvency

inflation wont happen if the money doesnt circulate

>> No.19235403
File: 7 KB, 225x225, images (4).jpg [View same] [iqdb] [saucenao] [google]
19235403

>>19235240
One of the best replies I have ever read on this God-forsaken board. Cheer, mate. Thank you.

>> No.19235669

>>19235403
Every now and then you'll find gems. Thanks for posting your chart. For some reason I couldn't figure out which stage of the wykoff pattern we were in.

>> No.19236316

>>19234867

That's an interesting theory about the liquidity, I hadn't even thought of it. Nonetheless I find the LINKBTC chart to be a lot more reliable for larger timeframe TA so I take the USD chart with a huge gain of salt. The outlook on LINKBTC is way more bullish and to me reliable.

>>19235403
You have absolutely no rebuttal to my point because it's legit, but goes against your bias here. Don't shoehorn overcomplicated TA patterns onto movements caused by distinct news events.

>> No.19236623
File: 9 KB, 318x36, HMM.png [View same] [iqdb] [saucenao] [google]
19236623

Easily going to $20. Problem is I don't know which Ferrari to buy. Should I keep it classy and go with red or change things up and go with yellow?

>> No.19236662
File: 18 KB, 195x400, s-l400.jpg [View same] [iqdb] [saucenao] [google]
19236662

>>19236623
Based Hotwheels collector. Get em all, champ!

>> No.19236683

>>19236316
>Don't shoehorn overcomplicated TA patterns onto movements caused by distinct news events.
What a brainlet response. Have you read one book on TA? Clearly you have not.

>> No.19237115

I will always love link for the money it made me but there is no way this doesnt go down again. There is no reason for it not to right now

>> No.19237148

>>19234372
bro alcohol consumption is one of the most onions-based activities.. don't kid yourself

>> No.19237712

>>19237148
I try to avoid it, but declaring it 'clouds the mind' like it was some revolutionary thought was what I was responding to.

>> No.19237802

smells like samefag in here. ask yourself what they gain from fudding.