WHAT HAPPENED BIZ

biz thinks TA is a meme, when there is nothing else besides TA in crypto
7500 was a level to buy for everyone who knows how to draw meme lines

But that much money in such a short time?

I was watching the 1m candles for 8 straight hours before that shitshow. It was fucking bots. Crypto is a fucking circus wasteland, and Veeky Forums and related retards supply the grist for the mill.

Going to guess that the value of crypto would go up instead of a bunch of microtransactions that are trying to undercut one another every 5 seconds.

Probably just a pump and dump.
While we're on the subject; join this group and get free gains.
discord dot gg/mFWsZq2

most short positions from january 26 were closed
tradingview.com/symbols/BTCUSDSHORTS/

what TA dude

>tradingview.com/symbols/BTCUSDSHORTS/
Can you explain this further? THIS looks useful unlike so much stuff posted here.

doesn't matter. it's not going to happen. there are a bunch of ICOs who are working on not only bots, but AI and advanced machine learning to automate the process even more than what is there now.

Who knows if any of them will create an effective trading AI but someone is bound to do it whether privately or through a major project.

It's the close that is important... could go to 6000$ as log as the close is above 7500$ it's a sing of reversal...

Good traders, not biz, closed short positiond, went long, took 20%, went short again

Now that we've all bought in I guess we can start talking nice about bitcoin again! I really do believe it's the future! And did you know 3/4 positions are long on Wallstreet? Yes sir!

It's a combination of TA people buying at that trend line and whales / market makers knowing this and pumping there to incite a bull trap.
Don't fall for it. We haven't reached the bottom yet. This will go further down.

It's like looking at gore.

it is just a graph on how much short positions are opened on bitfinex
you can also look at bfxdata.com/positions/btcusd
to close short you have to buy btc hence the spike in price because a lot of people felt it woudn't go below 7500 now

>TA
Yeah bud, your meme lines did it

Let me tell you what I did
>wake up today
>study a bit for university exam
>see bitcoin at about 8.5k
>shieeeeet it might go to 8k soon and I will lose the ground
>go write exam
>don't ace it but did sufficiently well
>first thing I do when I exit the examination room is check my blockfolio
>bitcoin is 7.5k wtf
>go on coinbase
>put all my fiat into bitcoin
>return home
>15% up
got kinda lucky but I had my finger on the buy button since yesterday, waiting for the right moment. Many people probably thought the same.

The $8k area has been repeated as the absolute bottom in the event of a crash for a long, long time. Not just on Veeky Forums. But from every TA-fag from China to the US, as well as banks.

It becomes a self-fulfilling prophecy. And either some whale who sold on the way down bought back in, or an institution decided that it was the correct point of entry.

>Yeah bud, your meme lines did it
self fulfilling prophecy
if enough people believe it will bounce - it will
even if you are a whale that can short through that resistance what is the point of selling straight to the bottom, if you can wait for the bounce and sell higher?

mmhmm

>He's asking what happened.
>He's not ready yet.
>Let him think it was us.

exactly the same happened yesterday and two days ago. In my opinion it are some whales that are trying to reverse the trend and the bots react immediately to it. In 10 Mintes there are sometimes 10 billion pumped back in the market (when you take a look an coin360)

It's called a shortsqueeze you thicc retard amateurlet. Still wonder what shrimps like you do on real markets.
Keep hodling btc user, never sell until WS shorted you down to 200,-.
Remember to sell low!!

/thread

i dont post this on every thread, just once in awhile, but TA is real and works, its been used in the stockmarket for decades

the reason people disparage TA use is because people that take advantage of it don't want more people using it, as it creates competition for them, they'd rather traders just blindly gamble.

So the whole "TA MEMELINES!!!" stuff is just meant to disparage people from taking TA seriously in the first place... If you want to make money, use TA and try to convince other people NOT to use TA.

>I s-swear it's totally h-human-related

The buying was initiated with exact perfect simultaneity on all of the exchanges. And it actually started hours earlier. The buying was just offset most of the time by major dumpening.
Either some billionaire is playing the entire bitcoin trading scene from a mother of all short positions and needed to restock... or the markets are all run by the same entity whose ponzi scheme has become insolvent so he bought up all the coins with non-existent money in order to actually sell them so that he can cash some people out in a hurry to avoid the ponzi being revealed.

these are literally the only 2 rational explanations.
Because if you were sincerely looking to buy at 7600, the dumpening was still well underway. You just needed a bit of patience and your sell order would have gone.

Explain to me how TA is real in one post.

it's the Markus and Willy bots 100%sure

...

Or there are Wall Street firms in the mix now and the open playground that is crypto is letting them flex their algo-boy dicks to maximum.

> thinking hedge firms use TA
lets just say that you are somewhat uninformed and leave it at that

>Explain to me how TA is real in one post.
different people follow same TA rules and see same TA signs
they act on this signs simultaneously either by selling or buying creating cumulative effect on market

>Wall Street firms, operating at 4 in the morning
You can tell who lost the most money because they make the most retarded statements like this. It all started at 4:20AM eastern time. Simultaneously across all exchanges. Non stop. Buying out sell orders from the top down as quickly as possible.

See now that makes sense.
Thank you. Finally I have a reason to learn TA.

>It's the close that is important
what close? It's a global market.

Hey guys, why is my delta doing this

...

This.
>thousands of whales made many millions on BTC during 2017
>they now need to close their positions to realize their 1000%+ gains
>they can’t all just sell at once, that would crash the market
>instead they have a series of sell offs and if the price drops too quickly they stop selling and temporarily pump the market
>This ensures a steady stream of retards keep “buying the dip” and letting all these whales who bought in at $1000 or less cash out with incredible 1000%+ returns
If you didn’t have BTC pre-2017 you are a fucking nocoiner and have no idea what you are doing. A few lucky people might make some money but the rest are just helping much more intelligent and sophisticated players realize insane gains.

Are there enough retards with enough money to fund the whales all the way out though?

SATAN! YOU LONGGGuuu!!!

>Probably just a pump and dump.
>While we're on the subject; join this group and get free gains

Youre doing it all wrong user, try harder.

kek

Anybody unironically scared by the really big players and how they can sway the whole market

I've read multiple books interviewing top traders and a good chunk historically worked as analysts for companies as technical analysts. Using technical indicators doesn't make it the only tool in the shed but if you have it their is no reason to not use it.

richest whales dumped 10k BTC

m-m-maybe the European market just w-was bargain shopping to the tune of billions of dollars.

Is there a way to find out who did that ridiculous mega-purchase earlier?

>muh whales accumulating
>muh bot-bonanza
It's a simple short squeeze, you braindead mongrellii.

also, 4000BTC were transferred to bittrex.
prepare for huge buy orders.

...

Whales coordinating with each other.

A SHORT SQUEEZE?
AT 4 IN THE MORNING?
SUSTAINED FOR 4 HOURS STRAIGHT?
TO THE TUNE OF HUNDREDS OF MILLIONS OF DOLLARS?
SIMULTANEOUSLY TRIGGERED ACROSS EVERY EXCHANGE AT ONCE?

Yeah that’s why 90% of Veeky Forums keeps posting these meme lines and 90% of the time are dead wrong
>but this one chart from 3 weeks ago was exactly right and I will ignore all the hundreds that were wildly inaccurate.
You are just gambling dude. Don’t get delusions of grandeur because you made money in a market that went up 30x last year

Whales flexing their buying power so their Ponzi scheme doesn’t evaporate over the span of week without being able to cash out. Expect a rise in the next weeks and a huge sell off and the death of crypto days later after whales have dumped their bags of imaginary meme money on autists and NEETs who actually believe imaginary internet money was ever anything more than the equivalent of digital baseball cards with no real value and no market of retarded boomers to prop up their supposed value like baseball cards. This is it sell out while you can cuz this ride is over.

Do some FA you insufferable mfaggots

...

short covering

With the amount of selling last night if it wasn't for this "ebin short squeeze" it probably would have tested the 4-5k mark.

Big money that has been shorting BTC (not the first time) has closed their short positions. The shorts outweighed the longs by about 2:1, which means that the markets were essentially psyops'd into believing that it's going down due to the dominance of shorts. This means the markets DID go down as a result.

Now that some of the rather large shorts are closed for this period, AND considering that BTC has just hit the support levels of the downtrend canal, there's some heavy discussion over if we are on the very cusp of a trend reversal right now. About half an hour ago, BTC DID bounce from the support btw.

Keep your eyes and ears open, people. We may see a major reversal happening as we speak, or it may well come much later.

Yes!

May I see evidence of it?

you have a lot to learn

fave comment ever bc of pic

If BTC was transferred, then that means the guy is gonna sell it right? For USDT or some shitcoin.

There wont be shit until tether's cleared

look at the graph dumbo

Fuck off normie

>Anybody unironically scared by the really big players and how they can sway the whole market
That's why it's fun. This unregulated manipulated market's volatility is from those big player's and bots.

>what is market liquidity

What makes you think Tether is going anywhere anytime soon?

Toppest of keks, you win Veeky Forums for today

Not all at once.

I think you are missing half of the circle here for a complete t.a strategy.

The idea is to find a pattern or a system that works mechanically, rsi,ma, momentum strategies or other indicators pennants ect. Then have a solid risk management and capital sizing plan when one of your set ups is triggered. Along with a clear exit plan for when the trade is unfavorable to avoid draw down.

Realistically you could be right less then 30 percent of the time (well certain indicators have a higher percentage of working then that) and still make reasonable profits. It's not about just drawing lines and hurrdurr see the line didn't work the whole thing is bullshut. It just works as a complete market strategy.

with crypto being a global market, shouldn't be that hard

Compare 24 hour graphs of all the exchanges. You're looking at single-minded instantaneous action. This isn't a bunch of shorters coincidentally going shopping at the same time.

you fucking tinfoil hats with tether and muh bots

learn to draw two fucking lines, it's just a strong support @8k$

fucks sake I swear to god you fucking retards have to learn some TA and understand prices

That's why the temporary bounce, a lot of bulls came into after shorters closed position, expecting bounce from support/trendline

did you forget about the wall street bonuses?

it was a short squeeze at all

7.9k btc total crypto marketcap at 350b

current cryptomarket cap 430b

we gained 80b just from btc shorts? nope the whole market got pumped

I don't know user, I've turned a meager $600 into $2,500. Plus I've got 1k LINK, which will probably be worth a few thousand on it's own at some point. I might not be a gorillionaire, but if I had put in $10k instead of $600 I'd be sitting really pretty right now.

8k support collapsed in the dumpening. Even with " le ebin short squeeze:D:D:D:D:D" by the time the dumpening stopped it was only a 300 coin depth back to 7700. Obviously idiots have since woken up and maxed out their credit cards "buying the dip" and created new support since then. but if it wasn't for "le ebin short squeeze" the market would have been completely razed last night.

You have to be intentionally retarding yourself to continue to believe whatever narrative it is you've bought into if you think today wasn't a coordinated attack.
Unironically kill yourself.

>whales don’t want to crash the market by selling so they crash the market by selling.

It already happened. The market has crashed. It’s just a matter of how deep does it go before this shit shoots back up.

The fundamentals of this are simple: there is a huge demand for unregulated shadow banking where you can hide assets. We’re seeing the beginning of this established now. We’re creating official channels to get your money in to crypto currencies where it can sit unseizable and potentially relatively anonymous. Worst case, you have to declare you lost the private key until it becomes convenient to find it. It’s just one more level of obfuscation available to move money around, and the people getting in now are basically being payed development money to get the infrastructure in place.

In a few years, the stuff is going to become a part of everyone’s retirement portfolio and it will be praised for bringing banking to the unbanked across the world, cutting around a system filled with heavy fees for moving money across borders.

wasnt

kek this
These fags would soon be squealing if the bots were turned off and NOBODY could get out, ever.

This guy gets it. Trading using TA and bailing out fast when you're wrong is profitable, calling the absolute bottom on probably the wrong time frame is something else completely.
Even the Demark meme 9's are a trading tool not a wizard top/bottom machine. Hedge funds use it but they don't just see a 9 bar and go hurrr must buy now. If it fails you go the other way.

>relatively anonymous
>in a permanent ledger
You people can't be this fucking stupid.

With how much manipulation is going on, no one knows unless you are one of those manipulators. Best is to just ride the wave or crash with it.

...

hello tinfoil hat, please can you do TA for me, let me see that so called ''coordinated attack on graph''

the absolute state of Veeky Forums