TRIPPLE BOTTOM.
Can we please go up now? NOW!
OOOOOOOOOOOOOOOOOOOOO
TRIPPLE BOTTOM.
Can we please go up now? NOW!
OOOOOOOOOOOOOOOOOOOOO
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BUY BUY BUY BUY
no
I hope it keeps bouncing forever
I'm making so much fucking money
>A pattern used in technical analysis to predict the reversal of a prolonged downtrend. The pattern is identified when the price of an asset creates three troughs at nearly the same price level. The third bounce off the support is an indication that buying interest (demand) is outweighing selling interest (supply) and that the trend is in the process of reversing.
>Once the first bottom is created, the price reaches a peak and retraces back toward the prior support. This is when buyers enter again and push the price of the asset higher, creating bottom No.2. The price of the asset then creates another peak and heads lower for its final test of the support. The final bounce off the support level creates bottom No.3 and traders will get ready to enter a long position once the price breaks above the previous resistance (illustrated by the black line on the chart).
>This pattern is considered to be a very reliable indication that the downtrend has reversed and that the new trend is in the upward direction.
how do you do that? SHARE YOU SECRET
Tech analysis is mysticism
you can easily make 3 trades per day at 5% to 10% profit per trade
Sometimes, not all of the time.
There is a TON of money on the side just clawing at the chance to buy. I can feel it.
It'll probably drop to 7.4 later, just like it did a few nights ago.
That's a head and shoulders bro. Sorry..
Can you only do it on bittrex?
How could one do it on binance?
Plz halp
ok
set up a buy order on litecoin for $140-$143 right now
it will fill soon
then set up a sell order around $150-$155
in fact my litecoin order just filled as I was typing that post
dont do this
>head and shoulders
t. moron
Thanks bought 100k.
>the state of Veeky Forums
I have buy order for ethereum at 600
And a sell order at 17,000
Thanks guyz!
this is why traditional TA is useless in crypto. Based on TA, there's absolutely no reason BTC should continue to go down. And yet, it does
whatever floats your boat
I'm already up $100 on the trade
What timeframe is this garbage?
Memes or not, a triple bottom is a VERY strong sign of a reversal.
We need some nice green candles now and a breakout to 9k or over to confirm a true reversal.
JUST FUCKING DROP TO 6K ALREADY
As you wish
When did you realize this was the end of bitcoin? For me it was when I zoomed out and realized it's been nothing but dead cat bounces for the least 50 days
>triple bottom
that looks like a triple top to me
I wouldn't mind being stuck at 7-9k for a few months desu.
If 8k holds here get rdy to go long boys, if it fails load up them shorts.
>Imagine being a hodl fag and missing out on half the money.
A triple top is a reversal of a prolonged uptrend, we are in a prolonged downtrend.
TA wise this is almost a perfect triple bottom.
>I have buy order for ethereum at 600
that'll be around the 6500k bottom ..6k I think will be 500eth
I wake up every morning, and see posts filled with "forecasts" and "price analyses." As an actual paid analyst, I chuckle when I see them.
They cherry pick, or worse--pick arbitrary timeframes--to measure a "trend" and estimate if a price is "breaking" from that trend. I can deliver practically infinite variations of equally defensible "trends" by changing the scope of my analysis, and without any reason to assume one set of data is more credible than another it is all drivel and meaningless.
Even worse are the analyses based on "candle formations." No, those "formations" don't mean jack shit, especially when for practically every "formation" there's an equally probable inversion of the same formation that "predicts" the opposite of your "assessment." That shit might as well be the astrology of financial analysis, and anyone worth their salt has admitted those patterns are wrong as often as they're right, and thus pointless.
But the absolute worst are the hot-hand-fallacy bullshitters who say things like "every time we dipped below the 100 day average, we doubled in value soon after" or some shit like that. The nature of markets, especially speculative markets like crypto, is those things will be true until they're not. Eventually, speculative activity will move in the opposite direction and cause a lasting crash. Nothing in past crashes has enough in common to today to warrant a reasonable comparison.
In general, people need to remember this about humans: our intelligence evolved at least partially because of our need to hunt other animals, and the best skill for hunting is pattern recognition. As such, humans are predisposed to view patterns everywhere, and derive meaning even if there isn't any to be had.
Always ask yourself: "am I just looking at a pattern, or do I have some legitimate reason to think that x, y, or z is going to happen based on new information?"
Any "analysis" based on patterns is about as credible as the "spoopy snake" meme.
so where is your sell order at, biz? mines at the previous top, im a pussy
Anons on Veeky Forums say the Americans have the weakest hands... recently the big selloffs have happened between 11pm-5am EST. Chinks and Pajeets?
Yep.
Chinks especially, new China banning exchanges FUD came out.
>t. money shaman
It'll plummet immediately after hitting 9k if it does
There's so many people waiting for just a bit higher to do a sell off
FUD is sinking in and everyone wants off the ride
Thats right. Let it flow. Lets see confirm the tripple bottom. Huge breakout if so.
chinks giveth and taketh
Tx I’m
Gonna make it
Interestingly, I feel exact opposite.
>As an actual paid analyst
>Any "analysis" based on patterns is about as credible as the "spoopy snake" meme.
kys faggot
This. Day trading is super easy when there’s a solid pattern like today’s.
No, Euros panic selling when they wake up is the cause.
Okay but how much does this matter in a free and volatile market that can be manipulated so easily? Is every whale like "lol well it hit 8k 3 whole times guess I can't drive the price any lower."
You're trading with peanuts, that kind of thing doesn't work when you have more capital.
Looks like it's going down further lads. Triple bottom BTFO
hmmm any bounce predictions?
sure, it wont work if you're a whale who wants to dump $10mil worth of coin on every trade
but up to $250k or so it works fine
depends on the exchange, of course
So what does your """"analysis"""" predict?
Oh wait none of you actually have a fucking clue.
buy low sell high
>is this what no resistance look like?
3/4 down into 7k....
Imagine having a daytime job that actually pays well and not having the time to sit in front of your computer in your white tighties all day crapping your shitbucket to the brim, or in your case, the streets.
This
I've looked at all timeframe charts and none show this. OP is full of shit.
6K COME ON
...
this is both 15min and 1 hour charts on gdax
Someone just bought 1MM worth of BTC at 7860
This is why TA is useless here
>Double Dump Double Dump It!!
5K
Would you recommend your mom buy Bitcoin right now?
No. That's why the price is not going up. It is way too risky of an investment at the moment.
Basically, we go up when we hita price so low that people feel kinda safe again.
So this? Doesn't really look like what OP posted. And the 1 hour chart looks completely different.
I hope whoever sells now gets shot.
It's obvious most of these retards are panic selling because they bought above 15k, and now they're ruining it for everyone else.
If it dips below 7.5k it's all over, it will make the previous crash look good.
>its going down instead
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
Fuck this is intense they're really fighting to push it down
Shame, they could have gotten a 50% discount if they waited a couple months
You're joking? Look at the top tops after the drop there and the three troughs. Same thing on the end of the 1hr chart on Gdax.
There's been over 7 billion dollars worth of bitcoin traded over the last 24 hours. A drop in the ocean.
Europe...confusion...denial.....panic
*Two tops
>now they're ruining it for everyone else.
But that's how a zero-sum game works, you gigantic idiot. Greater fool theory only works as long as there's someone stupider with you. If you're caught holding btc after it's painfully obvious it's crashing, then there's no one else to pass it off too. You're at the bottom of the pyramid, son
If it’s that predictable you have no excuse for not making money off of it.
Must've been shilled earlier that the recovery will moon hard.
So that was the third bounce off 7800, we bullish now?
kek, yes that was the 'end' of the dip
Probably. Euro here and I wake up to red candles every day now
Seems to be falling apart a bit, that was just a new low since the ATH below 7800...
Barely any volume though, I think we're heading down further.
I think it's going to stay at 8k for the rest of our lives.
so you shorted it then right? if you have no proof never come back to Veeky Forums again.
Are you fucking retarded? You just set limit orders at the support and resistance levels of the range. Fucking simple and obvious. Lrn2trade faggot.
As long as we dont decisively break the 7800 support, we're good
I can live with this.
That just means there's no more orders at the current level.....it can also mean a surge. Sure looks like accumulation to me. Maybe a small bear trap first. Buy the breakout upwards.
I hope, I bought at 8,1k last dip and today I woke up to 7.9k with low volume.
digits for surge
AND WE JUST DID BOY
Last chance to sell this high
>I'm making so much fucking money
Yeah, until it fucking drops like a rock to 4k.
Nope.
It feels like we are just delaying unevitable
lol...7.4k is the ((actual)) floor. It won't reach it. 9k tomorrow, then bullrun to 12k.
>unevitable
You mean inevitable? What is the inevitable?
Zero chance of that with the way things are going.
global whales are ready to push up but they are waiting for the chinks to join. the rest of the world literally wont re-enter until the chinks come to an agreement otherwise they will simply sell the pump like the greedy no ethic chinkgoblins they are. This could happen any moment now and then 500 billion surges into the market, and then the normies join in and the lowsellers kill them selves.
Damn 800 BTC at the 7800 (bitfinex) were melted in minutes. This does not look good. 1700 BTC left.
Fucking hell how many times has it bounced off now
>and again i shouldnt have listened to Veeky Forums
goddamnit
If this 7800 breaks I'm shorting.