... it's an indicator that help you to predict the market, not an exact science, but at least I'm not making a rain dance or voodoo rites to make it go up.
Looking at the chart we have 1 or 2 days, before we're again at a "make it or break it" situation. We could exit the bear market or go back to pink Wojak's land.
Downward wedge is a bullish signal. Look for a breakout.
>my meme lines indicate the price will either go up or down
TA is astrology for autistic men.
How do you choose when to buy?
The time to buy is now
now is absolutely NOT the right time to buy. smart money will buy either on the breakout or on the next dump.
who the fuck is buying now
No its not. The time to buy is in a few hours when it bounces off the support at 7900 or so.
Fucking this.
This place is a fucking mine field of bad advice in general. Anyone advising people to buy before a crash or breakout are just sociopathic shitheads. Any first level trader knows to wait during a downward wedge to confirm price action.
Best advice I have learn't while trading is always trade with the market flow never against it.
just do the opposite of Veeky Forums and you can't lose money
/biz is advising to both buy and not buy. The stronger /biz sentiment seems to be “don’t buy” which has me very tempted to buy
Downward wedge at what time interval? I've just been using 1d candles with 100 and 200MA to just give me some kind of chart tracking. Where do you see the floor?
Exactly, this is the purpouse of TA.
You buy at confirmations, after the breakout, when you're sure it's not a fakeout, or at the bottom when you realize it fails to break the resistance.
Buying now is like gambling and catching knifes.
You can see a lot of retards on Twitter that try to anticipate the market (I remember The Wolf caling a fucking reverse H&S when we where at simmetric triangle at $13k, he was expecting $25k or something, it tanked to $9k.
If you're lucky enough you can make a lot of money, anticipating the market (but you're just a small fish, you can't move the market on your own, you just eat the leftovers) but that's gambling as I said, not trading.
>people still falling for bait in the current year
wow, what a heart of gold you guys have
Depends on if going short or long. The implication above is long given that it is day candles. In terms of floor, it's hard to say. I think ~6k has a high chance of being the floor, though I suspect the upper 6000's will be tested as a panic sell after the breakout, or as a passthrough to crash if the breakout fails.
> t. Have longs in at 6.2k with stop at 7.5k. And I have shorts with 10x leverage at 8.6k that I'm actively watching.
Why can't it just sideways trade for a while?
Proxy Paige Prolapse pattern with hidden Blue Waffle divergence.
>And I have shorts with 10x leverage at 8.6k that I'm actively watching.
same but at 8500. where is your stop?
nvm, 9300 i guess, i'm retarded
The problem with how angled these lines are is that shit usually travels through the path of less resistance. So sideways trading does a lot to escape.
It can. But it's unlikely after a fast drop like the one that came recently. Volatility goes nutty for a bit if it's realigning to accumulation.
9k. Though I really don't think that'll be hit. Volume has been decreasing since 6k, so only news would cause a sudden rise like that.
Why don't you mention the obvious 12 Apostles showing on that graph?