BTC - Fractal Pattern (Target >$8k)

Just sold this little pump, I think we are repeating the same pattern when we pumped to $14200 as shown on the chart. Make of it what you wish.

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Kill yourself when it moons to 15k tonight by based Asians. Ta is useless now

TA won’t work when there’s hundreds of millions of USDT being used to prop up the price of Bitcoin.

It's consolidating, wouldn't be surprised to see a bull flag form. Buy pressure is way higher than immediate sell pressure.

It's not useless, this broke out of an ascending triangle, I saw this forming earlier today and prepared appropriately.

>TA is not useless because one of the 30 possibilities will be right
>my meme lines are the right ones of course

300M tether printed out of bitfinex ass

let that sink for a minute.

We going 40k if bitfinex continues

TA has worked pretty well for me. Repeating patterns extremely common in cryptos, particularly triangle-like patterns.

shit man thats scary
hope it doesnt play out like that

Just because you don't understand it, doesn't mean it is not valid. Pic related.

The 90-90-90 rule: 90 percent of traders lose 90% of their money in 90 days.

This is predominately true with those that daytrade, especially on margin. But there are those of us that actually know TA and elliot waves, and when it comes to stocks, reading 10Ks and 10Qs.

And we get dem gains.

based bullish poster
bears make money too, thats why they post too

I hear ya, I make money when a good bear channel forms, easy to set your target and walk away for a few hours.

Tether is created when exchanges purchase them due to demand.
If people wanted to move $500b worth of crypto into Tether today another $500b would be printed.

>technical autists and moon retards don't know that CME BTC futures maturity is Jan 26 and this is an orchestrated pump to get more out of shorting them before they stop trading
Spearchucker tier time preference. See you next Thursday.

you realize that's fucked up right?

I've read this theory also. I thought the futures expired already though?

shit OP it looks like it's pumping further what do your meme lines say about that?

and the're about to get liq'd

They are rolling.

Those were the CBOE futures, that's what caused the previous crash a week ago. These are the CME futures, which will expire Jan 26th.

I'd be watching the futures volume closely.

cmegroup.com/trading/equity-index/us-index/bitcoin.html

~900, up from ~100 yesterday. Also CBOE futures were for 1 BTC each, whereas CME futures are for 5 per contract.

Brace yourselves. You have been warned.

did tether print more?

I would agree that helped push it over the edge but to be fair that bear flag was due to drop and it did to exactly where it should have, 9k. Not saying what you're talking about isn't cause for concern, but the writing had long been written on the wall for that crash.

Thanks user, how low do you think we can go if they succeed in pushing it back down once they've had their fill?

I don't get this logic really
on every bet there are two people, one saying it will go up, another it will go down
even if we assume they are able to manipulate the market, why would they agree on pushing it down? 50% of them bets on it going higher

You're so full of crap.

These meme charts for BTC get posted here 10 times a day. Yesterday it was "$8k incoming! No, $5k The End"

It's nearly $ 14.5k now. Fuck off.

TA is the weirdest cult

hey dumbass to say less than 8k it's

that's literally every valuation of anything ever.

>look at da try angles

TA doesn't work for crypto, it's all news and emotion driven.

Who came up with this meme?

TA works better for cryptos than stocks as there is less manipulation. No high frequency trading.

Yes, you can't predict the ridiculous news driven moves like for Verge or Bitconnect but in most cases it is very useful.

Doesnt this recent upward break confirm the bearish ascending triangle has been violated: ie, expected downward dive has been cancelled? You show it yourself on your graph.

pattern examination is useless in bitcoin as we experienced many times before however btc is very fragile at the moment anything can happen

Futures contracts are capped at 20% (ie you don't make any more money if the underlying drops any further) and the first futures started being taken out yesterday when BTC was around 11.5k-12k so they would cap out around high 9ks. Of course it's hard to control exactly so my conservative estimate would be 8.5k-9k

autists enjoy the geometric patterns - they just don't accept that they are derived from completely irrational markets. BTC and the rest go up because people want them to. Only a fraction are operating on TA - even institutional investors are probably smart enough to ignore them and do more unregulated tactics like PnD

TA doesn't work at all.

same

It's common sense that Jews would earn more from pumping the price then dumping their bags before crashing the price again. They're going to do that until 5k then pump it up again.

>less manipulation
>no more flash boys

are you out of your fucking mind??? You think somebody hasn't tapped into the local subnet of Binance/Bittrex for trading?

Not 100% sure of course but if you look at the smaller yellow circle it broke out of the ascending triangle in a similar fashion and then cascaded down.

I don't think you understand

it's just they shut down trading on a 20% DAILY move, you still get money on it when it closes

There is way more support this time, plus it's the difference between an up-trend and a down trend after bouncing off a critical support level. it broke up after the consolidation this past week, even further confirmation.

Not saying you are wrong but if you look at the smaller pattern that bounce was also off critical support shown by the turquoise diagonal line yet we broke to the downside the next day.