First of all...

First of all, feel free to save this image and thank me telepathically when btc price action falls in line with this chart.


From most of the threads I see here on Veeky Forums, it seems like 90% of you are just buying and selling your coins due to random news and rumors you hear. With the hope of something going "to the moon" or crashing and burning with every dip and every high being THE "big move" that confirms your hopes.


As someone who has trades stocks and forex for many years, and way, way before this new crypto market became the cool new mainstream way to trade/invest... I can inform you that these markets behave extremely similarly to the regular financial markets. They behave the same and should be treated the same by traders. (I'm not talking to those lucky enough to have boughts lots of them at a few bucks each btw)

For those interested in learning how to actually understand market movements and wish to profit from the crypto markets, you may wish to invest your time into forex technical analysis so you can apply it.


I also run a business that provides signals based on these methods. You can check it out (renforex.com) and critique the website etc if you wish. I've recently stripped it down to the bare essentials in terms of website design and I am currently working on it from the ground up. So any input would be appreciated.


In return, please feel relatively assured that now is a good time to buy BTC.

Is btc going to 2x anytime soon? No? Then fuck off. There are coins much more likely to moon than this overpriced shitcoin with ridiculous fees. If you are really the financial expert you think you are then you'd be able to see this. Now go back to work wagey, your break is almost over.

If you are going along with my point for comedic value then I applaud you. Hehe.

Autists here won't understand. Every technical analysis guy I follow is setting the exact same target and they're always right.

but why should we buy btc if its only going up that much? alts are 5x-30xing all the time

Because it's smarter to trade reliable opportunities with a high probability rate based on previous behavior.

Hoping to be on the right end of random "pump and dumps" based on assuming you are hearing predictions from credible sources isn't the safest way to make money consistently.

Sure, some people have made a fair amount of money doing it. But people have also made money by gambling professionally and by prostituting themselves. I wouldn't recommend those paths either. Despite the undeniable potential to make money.

I can't help but agree.
Where do you see Ethereum's price going?

This Op is a huge faggot.

Doing God's work user.

is this worth reading?

...

Probably not

ITT: Boomer fag thinks he can come here and swing his dick around about 'muh years of experience before this new thing came around' when he doesn't realise that underneath all the naive newfags is a swarm of autists lurking who have made more than he ever will. No one gives a shit about your 'years of experience'.

Maybe you're right.

A bunch of people made a bunch of money so everyone should abandon the tried and tested methods that are almost completely unrelated.

Yes. Let's leave Veeky Forums the way it is with people making random threads saying "it will go to the moon, promise, invest your life savings" over and over again. Because no one gives a shit about anything else that isn't a promise of being able to x100 your investment.

Nobody needs to talk sense or even talk about their Veeky Forumsinesses. It's all about coming across that thread that 'informs' you of the new random coin that's about to skyrocket for unknown reasons.

What a fun board. It's definitely just as interesting as before.

I don't see the bull signals. Yesterday's run seemed too forced.

Every BTC correction ended up when RSI was either below 30 or very close to 30. Since we hit 20k, RSI never moved below 40.

I'm a very newfag to TA, a couple of months only. I used to use it more before the market went full retard last month. The wedge is closing so it will really either go up or go down, maybe retest 11.5k and bounce from there.

What do you think?

Me again: Forgot to mention, what is next for BTC? We were in killing streak of news up until CME futures. I don't know what can be coming for BTC next, I don't hear anything.

On the other hand there might be some issues coming up next with possible tether fraud, bitfinex scandal or something related to intel processors leaking kernel memory

Wrong faggots. If you're not buying and selling based on how fucking cool a logo and coin name is you're going to miss the fuck out. Bitcorn? That doesn't sound half as cool as Tron, or MegaPussyDestroyer Coin. Fuck off with your meme lines jackasses

The problem is you come here acting like you deserve respect because 30 years ago you learned astrology and made 10% a year on it. People here 5-10x their money on the regular. I have literally been witness to at least 6 10xs in the last 3 months on Veeky Forums, and if your TA is so good why not just make yourself as rich as possible instead of shilling on Veeky Forums.

How about cutting down on the hyperbole and investing in coins with better tech than bitcoin? Excluding the memecoins, of course. I had to specify since everything, even the meme coins, have better tech than BTC.
I know, I know. Fundamental analysis is this thing only crazy people do, but still.

You can't be looking at that in daily time frame only (unfortunately).

On 2 hour (my original post) and 4 hour the price has actually broken out of the triangle and has formed a "bull flag".

That's very common as the price usually attempts to re-test the previous structure that it exited.

Flags are often formed instead of a full re-test.

I would abandon the RSI completely. It's the opposite of helpful in most situations. (as are most indicators)

It's easy to look back at a big move that has already happened and then look at a bunch of indicators and think "the indicator saw this coming".. But you need to take note of how many times the indicators show the same signs but the opposite happening to realize it isn't really useful.

If I was 17 years old with not much money, I too could probably x10 my money in a couple of months. And I wouldn't worry too much about losing it all either.

And yes, my TA is pretty good. I make almost 50% of my total earnings by trading in this manner.

I also see it as a good idea to have a 2nd form of income. And I can't think of many forms of income more reliable than a subscription based model for a service.

I'm not here to boast about how much money I make though. Maybe you didn't notice that from my first post... I'm sure there are people on this board who have made more money than I have in the past year. And I'm sure there are lots who have made less also.

I have however been increasing the amount of money I make steadily over the years without too much stress... Just in case you were concerned :)

The Virgin Trader

I've literally seen two dozen people draw the same shitty arrow on each and every green BTC candle for the last week. Fuck off.

Can u shill me a good book/site on the subject?

Do you mostly use oscillators or patterns?

I can't,but I have heard people recommend babypips.com a lot. Somewhere on there website they have basic technical analysis guides. I think it's half website/ half forum community though... I would stay away from the forum.

Stay away from oscillators if you are trying to learn. The best things to learn at the start are (in order of importance) price action, trend lines, structures and patterns.

Then wave analysis is the next step.

You'll learn mis-information if you try to learn things in a strange order or accidentally become convinced that oscillators and other indicators work. (they don't)

Watch Haejin Lee's TA on a daily basis. Youtube him.

Thanks user. Really than you for giving us a bit of your time.

The only indicator you kids need is right here

fuck me senpai. you might be right. in the brink of selling some XLM. watching the ticker to see if it will break out

TA always works until it doesn't, then the meme lines are redrawn.
Find good projects, diversify, and hold. The true key to success in the markets.

>I can inform you that these markets behave extremely similarly to the regular financial markets.

No, they don't. Next.

and someone wants to keep the XLM price up. let's see if that buy wall will be eaten

this wall

That's kind of right (except that meme lines aren't all that are involved)

The key is probability and good risk:reward per trade to ensure that losses (that will happen) are smaller than gains individually and happen less often overall.

Finding good investment opportunities and diversifying is definitely they way forward if you are looking to invest though... I would say that's best suited for other markets though, and crypto will increasing move closer and closer to forex in terms of behavior as the years ago on.

Oh, right. Didn't realize you had said so.

reminder to look up TA FAG on the archives

He cant keep getting away with it

i was thinking of waiting for 15.7k, would that be a good entry point?

FPBP

Holy shit I'm crying

Pfft. Only indicator I need right here.

" I can inform you that these markets behave extremely similarly to the regular financial markets. They behave the same and should be treated the same by traders."

John McAfee said the exact opposite. I don't know enough to reconcile your viewpoint with his. Can you explain why the claim that the crypto market behaves nothing like the stock market is wrong? He mentioned that crypto doesn't correct like stocks do etc...

My intuition says that in the long run (past 1-2 years) BTC will be worth much more, making now as good a time as ever to buy. Are you aware of your own intuition or does it go unnoticed in you? Might it agree with your analysis?

I’m 23 and I’ve already literally cashed out 700k, kek. It doesn’t matter whether you believe me, boomers like you are going to commit when you realise how many “kids” made bank without your astrology bullshit.

An example:

Teach us senpai

Please understand one thing clearly, Mcaffee knows NOTHING about crypto. Sometimes he'll say something that's correct, that will be pure chance.

I haven't paid attention to anything John McAfee has said recently... He says a lot of things. I did a quick google search to see if I could find it and I only seen headlines about him eating his dick? (wtf lol)

Did he happen to say they don't have corrections before the most recent large btc correction last month? (Genuinely don't know)

But in any case.. a year ago and I would say that it's true. But in the past few months what I have seen is pretty standard behavior that is very familiar to me. And my logic tells me that it will only move closer in that direction as things time progresses.


Of course, in the next few years BTC could be worth a lot more or a lot less than it currently does. But that doesn't mean the general behavior is completely different. It just means that the spikes/drops will be significantly larger and more frequent than other markets... But regular forex and stock trading takes these spikes into consideration already anyway and can be dealt with in the exact same manner.


I have a sneaking suspicion that John McAfee said this around the same time a lot of experienced started jumping into the market and applying what they learned elsewhere.

I also suspect he MAY have some motive behind voicing his viewpoint hehe.

Congratulations, I didn't have that much money at that age.

Unfortunately I'm unsure what you are talking about when you refer to astrology or me apparently commuting suicide when I hear about people younger than me having money I didn't have at that age.

Feel free to explain further, although I'm sure you'd be wasting your time and I can't promise that my curiosity is genuine.

experienced traders*

Had a few gins.

BTC will double by March.

He probably said that before the last correction. Don't know for sure, but I saw it in a string of autoplay youtube, so that statement could have been old. I did see last month on twitter, he started recommending different cryptos that he thought would be useful beyond their investment potential. I haven't followed that, but I did hear people accuse him of PnD, which sort of seems obvious given he knows his influence.

I was just wondering if you could expound on the similarities between crypto and stocks. Or are you saying all the answers are in TA? I guess I should research that next.

So this is how Veeky Forums always buys high and sells low

All I see is classic head and shoulders.

Ah I see.

And basically, yeah. I'm strictly a technical trader and ignore all fundamentals with the exception of taking a day off during major events like elections etc.

I trade multple stocks and currency pairs. They all have their own pace or "feel" if you will. But the same rules apply and I use the same methods on all.

More recently I've noticed the crypto markets have increasingly been behaving in the same way as far as technicals. So I jumped into that market and have treated it the exact same way with very similar results.

For example, last months dip/retrace/whatever you want to call it..

For me, I seen the divergence. I seen the break of the rising support. And I seen it happen just after falling short of the very physiological target of 20000.

I sold, naturally.

I wake up to see some news post on my facebook feed that the south korean government (I think? I forget) did some thing about BTC and that caused something to happen which caused a "HUGE CRASH" in bitcoin value.

This is also what happens when I trade in other markets. I make my decisions based on very basic technical analysis, and then I hear fundamental reasons on why the price moved in that direction after the fact.

Note: I'm not saying I'm predicting future events. Lol. I'm aware it may have sounded like that. But I have limited brain power at this time of night to explain what I mean in better words hehe

Get out of here retard

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