Dumb TA here but we're not at an Apex marked by the red circle. We had an overall bear channel going back to the start of January and a 5 day bull channel. These are hourly candles.
We're right at the corner now. Depending on how the price breaks should implicate if we're going to keep going down or if the dip has ended.
>it will go up or go down woah
Meant to say now at an apex.
>draw lines >"so we will either go up or down"
Don't take it personally OP, but I think TA only applies in very specific cases, such as the parabolic break.
Are you spanish or italian?
So let me get this straight You're saying it will go down, or it will go up? I don't think I'll ever look at Buttcoin the same way. Give this man a nobel
no problem. But I believe this is a crucial point. If we stay in the bull channel and move out of the bear channel, I believe the dip has ended.
I've also used TA pretty successfully with predicting Elliot Waves using fib retracement for swing trading.
Big if true
I believe to be giving to 2 scenarios, 1 for up and 1 for down. I don't claim to predict which one will happen until we gain evidence from price movement in a short while
Are those supposed to be elliot wave labels on your chart? They don't conform to EW rules in any way.
TA expert here, I confirm it could go up, if by any chance it stopped going up it would start going down right after
>draw lines >this is ta
>if the dip has ended. what dip are you talking about? if you mean the big fucking dip, then breaking out of it will take fuck more than that little 5 days bull channel...
I think they follow impulse wave principles but I was just fucking around there, didn't delete them. Wasn't trying to do TA with them.
This is the trendline btc needs to break out from.
yah, thats the upper negative sloped line on my pic. Your just using daily candles right?
That was daily. This is a logarithmic chart, not sure if its proper to use a log chart for this or not. The curved line is just the straight trendline translated from the other linear chart i posted.
Anyway, if we start dropping from here it could be a nasty nasty drop.
:( Im not very good with english
yeah i saw that on another thread. Its a spooky analogue. one possibility is we churn around here and then have a false breakout up to around 9.8k, the resistance on the log chart, then possibly drop hard from there
I’m a sell up now and buy back in
Your English sounds fine
I'd probably put a sell stop around 8000 to 8100, since that might signal a breakdown from the rising flag. We could also break up from here. I literally have no clue.
This is a really cool fight, who will these teams be summoning next?