/biz/ - Business & Finance

[Anonymous No.7102563]

Here's my TA analysis for Bitcoin.
This is a daily chart of Bitcoin/USD.
Where the two red lines intersect at the right portion of the image (~7000 level) is where I believe it is heading over the next few months.
It is below the red, green and blue lines (10, 50 and 100 day moving averages): VERY bearish, especially the 100 day.
It is above the 200 day moving average (purple line) : Bullish
In between 100 and 200 day moving averages is consolidation usually but the trend is clearly downward.
Some things to consider:
Tether. ...no matter what anybody has said, there absolutely is a direct correlation between Tether 'printing' and a bump in BTC price. This artificiality can go on indefinitely, so beware.
Momentum: Momentum and mania is over for now. I don't see anything in the near future to rev it up again.

Feel free to add respectful comments.

[Anonymous No.7102604]

>>7102563
I will also say the 'bottom' red line zooms out to one year but the photo crops itself

[Anonymous No.7102607]

noone cares you fucking faggot

[Anonymous No.7102612]

>>7102563

kek... respectful comments

[Anonymous No.7102630]

>>7102612
yours was respectful thank you :)

[Anonymous No.7102633]

>TA analysis

[Anonymous No.7102649]

>>7102563
>respectful comments

too obvious, now we know this is shit b8

[Anonymous No.7102670]

>>7102563
Fuck off nigger it's literally just staying in between this range:
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures

[Anonymous No.7102684]

>>7102563
Todays daily candle needs to avoid being solidly down (flat bottom) to avoid a very bearish signal

[Anonymous No.7102763]

>>7102649
just by reading that comment i know you have zero technical analysis skills. i trade every day and have for decades. made alot of money, just trying to help out those that are younger and curious and who actually want to escape the rat race with well defined parameters for success. this board is filled with lurkers who actually want to succeed and this is for them.

[Anonymous No.7103086]

>>7102763
if this is sincere... thanks!

[Anonymous No.7103130]

>>7102763
your charts scream amateur hour faggot dont ever @ me again

fucking RSI, lel

[Anonymous No.7103187]

>>7103086
your very welcome

[Anonymous No.7103210]

>>7103130
please take a screen shot of your charts and show us...or you need to find a clean street and poo in it

[Anonymous No.7103273]

>>7102563
>TA analysis
technical analysis analysis

[Anonymous No.7103325]

>>7103130
BTC RSI generally will only spend one or two days below 30 but when it gets there the price drops quite a bit. If we hit 30rsi right now we will drop past the 10k resistance level, and maybe the 8k.

[Anonymous No.7103357]

>>7102563
If you are not trolling, how did you draw the 2 red lines?

[Anonymous No.7103390]

>>7103273
your right...thats a true lol if i ever saw one!
here's your (you) and an image to help you chortle thru your day!

[Anonymous No.7103410]

>>7103273
>TechnicAl analysis
it's like I.D retard
>I. and Dentification

[Anonymous No.7103437]

>>7102563
Next time use MS Paint

[Anonymous No.7103455]

>>7103357
the original chart is a one year chart but the photo process crops it out...its simply an analysis of what I believe is a mean through the year. its not precise, but its what i believe is best based on my experience.

[Anonymous No.7103547]

>>7103325
true

I will say this though...bitcoin is tough to put forth thru TA. it has no true fundamentals like revenue, earnings, etc to capture a better perspective. But as it trades more, the picture becomes clearer

[Anonymous No.7103601]

>>7103410
big if true

[Anonymous No.7103663]

>>7103601
trig if bue

[Anonymous No.7103754]

>>7103547
Because it so speculatory Elliot waves and mass psychology are even more true and controlling. If someone doea not see clear impulses, retracements, emotives and correction you can't help them.

[Anonymous No.7103794]

>>7103754

[Anonymous No.7103824]

>>7103455
So let me get this straight.
You've essentially drawn a 6 month trendline for the first half of the ttm, overlaid it with the the trendline for the last 3 months of the ttm (like I've done), and arrived at the conclusion of somewhere around $6500.

[Anonymous No.7103877]

>>7103824
However, observe the following:
If I take the first 2 yrs of the last 36 months trendline, and overlay it with the same past 3 months trendline, I now arrive at a target of <$2k.

[Anonymous No.7103950]

>>7103877
and i'm still up over $1400 on every btc I ever bought... nice!

[Anonymous No.7104023]

>>7103824
your chart seems to have some compression differences i'm not used to seeing, but yes, thats the basics of it

[Anonymous No.7104121]

>>7103877
you can arrive at this conclusion too...you have to take all variables into account... is your answers better, worse or more accurate than mine? who knows...its all part of the total approach but i appreciate you bringing that up

[Anonymous No.7104223]

6-8k would make the most sense but I guess 2k isn't completely out of the question. At that point ETH would be worth more than BTC? Fucking hell, people would have laughed at me for suggesting that in 2017.

[Anonymous No.7104291]

Eat shit pajeet, now get off my board.

[Anonymous No.7104318]

>>7104223
this is a daily chart of eth to btc strength...the higher it goes, the stronger eth is compared to btc...i think the trend speaks for itself. yes, eth is holding its own much better.

[Anonymous No.7104355]

>>7103877
Count your Elliot waves 1-5 and then try and predict ABC.

You can't, because you didn't give enough time for the pattern to develop. Our peak at ~20k was wave 5. We are now riding abc down and I hope to hop on for another impulses, hopping off at the retracements.

You can save a lot off losses if you notice most retracements happen at the end of a quarter.

[Anonymous No.7104366]

>>7104291
you cant come out of your room until you get the bitcoin back that aunt ellen gave you

[Anonymous No.7104369]

>>7104121
>>7104223
It basically boils down to the fundamental question of what do you believe to be the long term growth trend.
In both my examples I've not changed the near term correction trendline. The difference comes from the selection of the long term growth line, boils down to whether you believe the growth witnessed in the first half of 2017 is part of the natural growth, or driven by market speculation and asset inflation. And as you see if makes a big difference. Sadly no amount of TA memery can answer that.

If I do the same meme lines for ETH, it's projected to go to around $500.

[Anonymous No.7104487]

>>7104369
once again, the totality of information is key, not any one or two bits of info

[Anonymous No.7104757]

>>7104369
>It basically boils down to the fundamental question of what do you believe to be the long term growth trend.

That's a scary question because in the technology field being obsolete means the value drops to nearly zero. Or might as well be zero values.

I imagine that the bottom of this will sit in the 2k-8k area. But the honest truth is that we know from any objective standpoint that bitcoin has been a poor hold in terms of percentage gains for quite some time. Even in 2017 at its height BTC was "dead" in terms of potential profits. Even Doge beat Bitcoin for pure gains.

So this is like a double death for BTC at this point right now.