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.
Todays daily candle needs to avoid being solidly down (flat bottom) to avoid a very bearish signal
Ryan Sanders
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.
Kayden Robinson
if this is sincere... thanks!
Colton Gray
your charts scream amateur hour faggot dont ever @ me again
fucking RSI, lel
Dylan Carter
your very welcome
Hunter Sanders
please take a screen shot of your charts and show us...or you need to find a clean street and poo in it
Hudson Green
>TA analysis technical analysis analysis
Nicholas Roberts
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.
Hudson Morgan
If you are not trolling, how did you draw the 2 red lines?
Anthony Thompson
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!
John Barnes
>TechnicAl analysis it's like I.D retard >I. and Dentification
Robert Stewart
Next time use MS Paint
Adrian Roberts
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.
Logan Cruz
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
Bentley Rogers
big if true
Caleb Smith
trig if bue
Kevin Kelly
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.
Juan Williams
...
Jose Ortiz
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.
Logan Richardson
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
Carson White
and i'm still up over $1400 on every btc I ever bought... nice!
Nathan Wood
your chart seems to have some compression differences i'm not used to seeing, but yes, thats the basics of it
Elijah Moore
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
Tyler Garcia
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.
Nicholas James
Eat shit pajeet, now get off my board.
Jose Howard
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.
Caleb Morales
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.
Xavier Davis
you cant come out of your room until you get the bitcoin back that aunt ellen gave you
Samuel Bell
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.
Easton Jones
once again, the totality of information is key, not any one or two bits of info
Isaac Powell
>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.
