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7891997 No.7891997 [Reply] [Original]

(No FUD intended.) I believe in the power of charts as a tool. If you care about your investments and use technical analysis, you have reason to be worried about the market as a whole. Basically, if you look at the global market cap over the past 3 months, you can see a huge head and shoulders pattern. For those of you who don't know, head and shoulders patterns are very reliable bearish indicators. The neckline is where we currently stand at around $420 billion. The shoulders are around $600 billion and the head is at the peak of $800 billion. To be blunt, if we don't get above $600 billion soon, we could be facing an actual bear market. And I don't just mean two months, I mean at at least half the year. This is further substantiated by Bitcoin's failed breakout at $11,300.

Negative implications: This looks scarily similar to a possible bubble burst. If this does happen, many of the FUDers in the mainstream news will be proved right. People will lose a lot of money, and even those invested in cryptos with real-world applications will lose a huge portion of their portfolio value. For educational purposes, I would be in fiat or set stop losses underneath Bitcoin's next support level at around $9300. We need a substantial run-up very soon.

Positives: On the other hand, if you look at Bitcoin's (BTC) 4-hour chart, you can see a large inverse head and shoulders pattern forming. If Bitcoin finds support at around $9300 and bounces, we could see Bitcoin return to its former glory of $15,000+. This would also save us from the head and shoulders pattern and lead us to new all-time highs. If we do enter a bear market, you will likely see the end of hundreds of shitcoins.

Pic unrelated.

>> No.7892077

They won't listen OP.
These retards forget BTC was what, 1k~ a year ago?

They will never listen, do don't bother.

>> No.7892182

>>7891997
If you use charts for predictions, global market cap is not useful. You can't trade it as an index, and secondly, it's not accurate because as another anon put it, the dollars used to value alts are counted twice but only bought once. alts shouldn't be counted in dollars because BTC/ETH are the only fiat onramps.

If you believe in charts, Bitcoin and to a lesser extend, the other fiat onramp charts are the only ones you can look at to gauge if we are in a healthy market or not.

>> No.7892286

>>7891997
>the end of hundreds of shitcoins.
fuck yea

>> No.7892331

>>7891997
Of course it’s clear as day and getting confirmed as we speak. These newfags are tracing lines on 5min charts and think they are doing TA.

>> No.7892336

> very reliable

kys

>> No.7892341

>>7892182
this

>> No.7892358

>>7892182
> You can't trade it as an index

that's where you're wrong kiddo. Check out C20.

Still, your broad point remains true, as C20 has a tiny cap.

But also technical analysis is bullshit

>> No.7892378

>>7892182
>the other fiat onramp charts
where's this chart? thanks

>> No.7892391
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7892391

>>7891997
well good for you anon, are you making money with these skills or do you just shitpost?

>> No.7892392
File: 181 KB, 404x274, 16927832665.png [View same] [iqdb] [saucenao] [google]
7892392

>>7891997
>inverse head and shoulders

>> No.7892405

Fuck that were going up soon.

>> No.7892407

>>7892378
gdax btc/usd

search tradingview: coinbase:btcusd

>> No.7892408

>>7892378
coins you can buy with fiat with the highest volume. check tradingview for USD pairings

basically ETH, LTC
Maybe BCH maybe even doge? i don';t know who's fourth place

>> No.7892429

> just realizing this now
> crypto market cap up 3400 percent in less than a year

if you were smart you'd have cashed out by November

>> No.7892470

>>7892429

if I cashed out by nov Id be half as rich as I am today

>> No.7892519

>>7891997
>cares about price
>instead of %
you're never going to make it

>> No.7892597

>>7892286
finally

>> No.7892696

>>7892429
being smart is overrated
brainlets have made x20, x50, x100 since 2017
i'm only at x12 due to overly conservative investments and profit taking
the only way to win this game is to stubbornly hold coins in spite of their actual (non)value

>> No.7892756

>>7892696
thats called being lucky. no different than a brainlet winning the lottery and even more reason to exit the market as soon as possible. crypto is going to zero soon because it's a SCAM.. youve been warned

>> No.7893657
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7893657

So sick of fucking TA idiots. Shit that was empirically completely and irrefutably disproven over 20 years ago over and over again. Yes Anon your book called „how to get rich“ by some Jew will do as promised. THE WHOLE MARKET AND THE TECH depend ONLY on random patterns from past data, and NOTHING ELSE. Yes, fuck the actual development, fuck partnerships, fuck innovation. It’s all only dependend on some line formations named after a shampoo for men
Why aren’t you rich yet?

>> No.7893696

>>7891997
Aww thanks anon, you saved my screenshot

>> No.7893722

>>7893657
All relevant information is already priced into the charts, FA fag

>> No.7893747

>>7893722
So you basically agree

>> No.7893764

>>7893722
What I'm saying is that TA already accounts for development, partnerships, etc. If those things were relevant they would already be reflected in the charts.

>> No.7893790

>>7893764
You clearly have no clue about TA.
>Drawing lines and calculating meme indicators somehow accounts for the dev team, the whitepaper, the reputation

>> No.7893811

>>7893790
how retarded are you anon. go read the wiki page for TA

>> No.7893820

>>7893790
It does, because people like you who are interested in that will buy or sell based on that information

>> No.7893827

>>7893790
and yet somehow memelines have accounted for stocks with their respective management teams, whitepapers, etc

>> No.7893912

>>7891997
>hundreds of shitcoins
go on . . .


I'm excited, OP, but if we pump this thing to 100k first . . .then the bear market from that will make THOUSANDS of shitcoins extinct.

>> No.7894171

What does it take for a shitcoin to die anyway? How low do they need to get before exchanges delist them?

>> No.7894188

>>7892756
Bye

>> No.7894196

>>7891997
the real question is why try so hard to convince us?

>> No.7894214

>there are people posting on biz RIGHT NOW that actually believe that some lines drawn on a graph can predict the future

>> No.7894251

>>7894214
this next part is my favorite part

>> No.7894401
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7894401

>>7891997
OP is clearly a new coiner and hasn't practiced enough TA to know what he's looking for