Anybody know what bitcoin is up to?

...

We finna be rich nigga

It was just approved for futures trading.

You'll see a buildup as the HF to Segwit2x becomes inevitable.

You should have a slow ramp within 5 weeks, which will lead to all sorts of enthusiasm again and FOMO causing another big pump, wild enthusiasm again, etc, etc to huge ATH until you get another correction and cool down to still well above where we are now. You know, like it's basically always happened since it's been $2.

That's a fine meme triangle.

Bouncing off support.

There will be no hardfork you dumb summerfags. KYS.

fairly new pls no flame. is this pennant invalidated because of the second to last candlestick's wick going below it? thanks friends

Technical analysis DOES NOT APPLY TO CRYPTO.

Look at the chart again. You see how the trendlines acted as support and resistance or are you blind?

>Hurr durr volume and volatility and price history don't matter to the price of a perfect speculative good.

i think he was talking about my TA. can you answer my question if you know? thanks

IMO wicks like that aren't as meaningful with crypto because the order books can get thin and people panick. That said I think ETH is going to $50.

MAYBE IF I TYPE IN CAPS PEOPLE WILL THINK I UNDERSTAND WHAT I AM TALKING ABOUT

to $50? what makes you say that? what are you invested in if i may ask?

I think people will realize it's not a store of value, and people will realize most of these ICO's were cash grabs, and the ICO's will rush to cash out. Perfect storm.

I'm 40% BTC, 40% DCR, 20% LTC. Had a bunch more alts but I got out two weeks ago because the alt bloodletting is just starting

don't you think that metropolis and the change to PoS will cause the value to go up? i think people will want to hold as much as possible so that they can have a larger return, which will make the demand go up as people will not want to sell and would rather hold. my take on it anyway

A break requires a close below and then follow through in the direction of the break. It closed inside the triangle which means the market hasn't picked a direction. Invalidation of a triangle formation is when the market reached the crossing point and doesn't break in any direction as that's the market showing that neither the buyers nor the sellers are able to dominate so you get a ranging, indecisive, market.

Sure. But I think PoS is at least 2-3 years away and it will be ugly. $50 may have been extreme, and etherium certainly has a future, but I think it's got a lot further to go before it hits the floor.

Everything with a price is a store of value. Holy shit this meme is stupid.

Uhh, yes there will.

wow, an actual in depth response to my question, thank you! so what your saying is that the pennant is still forming and we will probably see a breakout in one direction very soon?

Sure, but we aren't using chicken wings as a medium of exchange.

Also I'm getting ~30% yearly returns staking DCR right now, which has a relatively small market cap right now and is hard capped at 21 million coins. Just saying.

We've been saying that since January of this year and it's the reason people said Bitcoin went from 1200 to 900 you dumbass. Then a trend reversal happened. Stop fucking yourself with this misinformation.

Ok, and ETH is not similar to chicken wings.

BTC looking good for a pump to the next level

Wicks don't invalidate trendlines

They actually add to their legitimacy

but you connect the previous wicks, right? the previous wicks are connected to the lines. why is this different? sorry for noob question, just something i never understood

You connect the open and close (the body of the candle)

You want the wicks to cut the trendline because it shows price being rejected by said trendline.

you seriously think someone can "know" something?
it is called random walk
invest in this shit and lose your shirt

Your faggotry DOES NOT APPLY TO CRYPTO.

IMO volume, volatility, and the order book matter more than trend lines with crypto.

i appreciate your insight, thanks a lot. while your here i'd like to pick your brain on something. in this picture is the current price of BTC. as you can see, it is very close to breaking out and was about to break the upper lines. however, this 250 BTC wall that you can also see in this picture is put up right as it was about to break the upper line. why would someone do this? do you think they want it to fail at breaking the upper line and instead break the lower line so that they can tank the price and buy more at a cheaper price? what do you think? thanks again

Other than long term trend lines of course.

Technical analysis doesn't apply to nothing
A bunch of idiots make random predictions and one of them will of course be right
This is why it appears to work

The market does whatever it wants. You have to separate thoughts about why things are happening.

Technical trading is all about price action

well, we are still inside of the pennant for now. i guess only time will tell

If you stare at the walls long enough... you can see them move.

What timeframe is that?

this time frame is with 1 day candles

What are those indicators you're using OP?

Another good use of TA is to plot the higher timeframe trendline and compare them

So compare Daily to Weekly and Monthly

i'm not sure it's even possible to do anything with the Eth 1 month chart

Up to the moon!

This weekend I went balls deep into bitcoin, litecoin, and some promising ICOs on the side. Can't wait to lose all my money!

This is all i'm seeing.

saved

Shhhhh don't tell them about Decred

just a very warm and friendly reminder that technical analysis is fucking TRASH and doesn't work anymore since everyone is doing it

and by everyone I mean automated computers that are about a million times faster than you, and a million times more numerous than you

Its also premined. like by alot.

You ever thought that the people doing all the technical analysis are the ones creating the patterns and trends? It works because people do TA. Look at the support and resistance lines. Where do you think they come from?

Bitcoin is backed by speculation. People are emotionally invested in it and its pretty easy to see where their fears and hopes lie within those numbers. Play and prey on people's fears.