Anyone who doesn't think this is a bear flag is actually fucking retarded

Looking at the chart right now I'd be surprised if we don't see a large red breakout candle in the next two hours

I have been expecting this since there has been some crazy growth the last couple days.
Some many FOMOing normie tards jesus, they probably all have weak hands too

>I have been expecting this since there has been some crazy growth the last couple days.

Yeah, 6k to 9k was a sustainable recovery, but ever since 9k it's been puming hard, and it's going to correct.

This is why I believe it'll correct to 9.5k, since that's slightly up from when the massive pump started. We'll probably go sideways for a bit after that.

That would be healthy

Yeah, take a nice healthy dump! All over btc holders face that would be nice

One more new high just above the recent 11,300 high, but below 12,000, this would get bulls fomo'd up. Then a punishing drop, but I don't think we'll get to new lows, just enough to shake out all the weak hands, then we moon. Below 8k would scare a lot of new longs out.

Lol this shit is going straight back to 20k buy in now while you still can

But what if he's just telling people that are holding to wait for this upcoming buy opportunity?

rising wedge and bear flag give you the same conclusion, though. point is that this rally is unconvincing.

t. retard

>Below 8k would scare a lot of new longs out.
Gee I wonder if exchanges might prefer that. Especially since almost every short since 8k has been killed

you two are idiots. It's been trying to break into yesterday's territory all day and can't fucking get past 10.8. Its going to drop hard by 8pm

>textbook example of bear flag
>lol buy now while you can

Nah, I'm buying more when it corrects

If he's so sure it'll go down to 9-9.5k, why wouldn't he want to make money from it by shorting?

Nobody just gives up money for free.

Fucking retard

i'm with ya, user. it's going to be sweet down below.

Yeah, I am just making it extra obvious. It's ticking every single box of a correction

i mean, if you really look at it, there is a bear flag within a bear flag within a bear flag. 5k soon.

good, can't wait to buy more btc after getting a 4k profit per btc

I don't care I'm not fucking selling. The gains will come when they're ready.

Selling is literally choosing atheism in Pascals wager

Yeah sometimes the best trade is no trade

If you sell at the right time and buy at the right time, it works. People do it, but buying and accumulating instead of trading is much safer. Better safe than sorry goes two ways in crypto. I'm with you on holding.

Selling now to buy back later is shorting, albeit not o margin, without the stupid risk of getting liquidated.

literally one of the stupidest fucking things ever said.

Buying back later means that you're bullish on bitcoin in the long run... which makes you a bull, not a bear

just like larping involves going outside yet everyone calls rping larping.

I kek'd but don't see what point you're trying to make.

told you

9/11 retards here don't know what the fuck they're saying.

Yep, you're right, it's happening now. It's only going down from now.

Next target: 9.5k

I've been home sick all week, so I've been able to go down the crypto rabbit hole a little. I keep seeing claims of what the market is going to do, here, on other forums, and in chat channels on sites like Bitmex.

Not a single one of you is right. None of you. I've yet to see a successful prediction of the market. I see claims of "We're going to 9k!" or "We're going to 12k!" from lots of people, and it's not happening, either way. (I love the more deluded and sad predictions of "50K! By April!")

If I've learned one thing about crypto, is that it's not a rational market. It moves for reasons nobody can discern. There's a lot of tea leaves reading and chart gazing and chatter about patterns, but for the overwhelming majority, it's a pure crapshoot.
Which is why, if I ever buy into the market, it will be for a long term (months) plan. There are no fundamentals to base judgement on, on market movement day to day, like you can sometimes get lucky with, on Wall Street.
The desperation is so strong, you wannabe lambo owners are basing real money decisions on what Ellen Degeneres said.
This is not a rational market.
But keep posting your predictions, they're harmless, and amusing. NOTE: I am not saying crypto is dying, or anything stupid like that. The market exists. It's going to keep existing, and bitcoin owners will keep buying and selling them. I'm just saying, there's no way to predict it's future.

>back to 20k
Find a new larp, this one isn't working so well for you.

Is that a one minute chart? Are you really trying to claim a market trend off a minute chart?

it shows it broke the channel.

Stop using Wall Street language to describe what is clearly not Wall Street, NEET.

ANd it's a minute chart, isn't it. You're so fucking clueless, you think it means something. LOL.

I hope you have money in the market, it needs suckers like you for volume.

it's a 1hr chart you fuck. Not to mention it can be seen on bigger candles too.
also

I can't believe it. I told all the bears they're going to FOMO back in at 10K and they still haven't FOMO'd back in.

Are you faggots FOMOing in at 12K now?

you're so fucking retarded. just because you're too retarded to do something as basic as a channel doesn't mean other people can't. stop projecting.
see

>rising wedge
Prove that your technical analysis outperforms a coin flip. You can't.

TA is no different in crypto than it is in traditional asset classes retard. You can use TA text books written in the 1940s and do great. Mass psychology is mass psychology.

no

Buy back now

Can you prove that your unique curry-brand Technical Analysis outperforms a coin flip? I bet you can't.

Prove that TA in "textbooks from the 1940s" outperforms a coin flip. You cannot.

you are such a smug fuck...yet still an idiot.

Worried right now placed a long when eth was at 944, how long this shit gonna drop

stop spamming faggot. I've literally tested this while paper trading. Coin flipping actually makes me lose money overall.

>'ve literally tested this while paper trading. Coin flipping actually makes me lose money overall.
This isn't proof that your TA outperforms coin flipping.

OK, are you FOMOing back in at 13K?

I get liquidated at like 12.1 or something

You can't be this stupid.
Let me spell it out
-i've made money doing TA
>I've lost money doing coin flips

Not valid statistical proof. You could just be a lucky retard.

And down we go, ty random fatfuck.

Dude stop. Just let these retards think TA is a joke. More money for us.

TA is a subjective psuedoscience, so there's no way to prove it in a "scientific" way, but it works. It is not a crystal ball, but it is a risk management tool. Trading is a coin flip, but with TA you can win big and lose small (google risk reward ratio). People think it doesn't work because it takes months to get good at it, it's not something you can master after watching a 20 minute youtube video.

we are going for 4k, OP
the crypto retards are gonna feel this one

I just shorted, that means the entire market is about to recover lads

>Not a single one of you is right. None of you. I've yet to see a successful prediction of the market. I see claims of "We're going to 9k!" or "We're going to 12k!" from lots of people, and it's not happening, either way.

Just because a lot of people are fucking retarded doesn't make every technical analysis wrong. Furthermore, TA does not *predict* the market, it simply tells you what's *important* in a market, and what to watch out for.

TA by someone competent gives you a good indication of what will happen to the market going forward. It may not be able to predict *exactly* what will happen at the various resistance and support points, but it does inform you of what decision needs to be taken at them, so that you can make rational decisions.

This particular case, however, should be fairly obvious. It is a classic example of a bear flag.

chart-patterns.netfirms.com/bearflag.htm

>There's a lot of tea leaves reading and chart gazing and chatter about patterns, but for the overwhelming majority, it's a pure crapshoot.

I am making an educated guess that it will go to 9.5k after an obvious bear flag. The reason I am estimating 9.5k is because that is slightly above when the ridiculous pump to 11.2k started (started at 9k, and reached 11.2k in just 4 days, clearly unsustainable.)

1/2

Why dont you just try it out yourself and see where it goes.
For every 10 bad TAs, you will find at least 5 good.
You just have to have some solid criticial thinking skillz

Can't wait for the wojaks.

>Which is why, if I ever buy into the market, it will be for a long term (months) plan. There are no fundamentals to base judgement on, on market movement day to day, like you can sometimes get lucky with, on Wall Street.

Day trading is particularly risky because whales stop-loss hunt, pump, dump, set up buy/sell walls as they please to make more money. If you're going to day trade, you have to maneuver whatever the whales are doing.

Long-term holds don't fly well for most alts, by the way. Most of them pump and dump, then never recover.

>This is not a rational market.

No market is rational, cryptocurrency is just exceptionally volatile. Doesn't mean that basic patterns like falling wedges, rising wedges, bear flags, etc. are suddenly not legitimate, and it doesn't mean that basic tools like analysing support/resist levels are suddenly useless. These are still very important for making good trades.

A bad workman always blames his tools. TA is not useless, there is just a lot of bad TA.

See for yourself in some hours. Temporary support at 10.2k, probably going to dip further to 9.5k.

holy shit that buy pressure is fucking NONEXISTENT

So you FOMO in at that point, right?

also, the flagpole is an $1100 from top to bottom and subtract that from the breakdown and you get your $9500

wrong.
I have no trading money at than point.
I shorted 10k

BTC reaching 30k before cryptobubble explodes mark my wordsyou fucking asholes

So you have no backup plan?

10K bitcoin or $10,000?

Yup, that's a pretty good point. Forgot to mention that.

I have a hodl stack, but I won't be pulling out of cold
£10K

Bears really want to get this below 10k before the weekly candlesticks close

And yet, big mouths like you: consistently wrong.

But you keep thinking you're Gordon Gekko, kid. LOL

I've gotten lucky on the craps table, doesn't mean I can predict the roll. Stop confusing luck with wisdom.

Not him, but looks like a confirmation that it's a bear flag to me.

All we need now is for the low trend line to be broken and then I can absolutely confirm that we're going to 9.5-9.7k

I agree here - you can manage risk.

But you can't manage the coin flip.

All these chart gazers think they can manage the coin flip - and they're more wrong than right - and when they do get lucky, it's just that: luck.

Unless you can give concrete answers on each market move in terms of why people bought and sold, you're just betting red or black.

If TA were a solid science with proven results, there would be no market, because nobody would bet into a market that's already predicted.

And, we're seeing the opposite of that - I see a healthy market, with people winning and losing, on a day to day basis. But the overall market trend is still a solid coin flip, unless there are outside factors driving the market, like a panci sell off on bad news. Then risk management comes into play - but you still can't predict the future.

how low do you think we can go? i have some fiat on the side and im looking to get a good dip

it'll happen on the next impulse down

If TA is real, why haven't you leveraged x100 three times and become a millionaire?

it's funny this gets so much heat from people that don't like it. why spend your time shitting on something so much? enjoy your life.

>If TA were a solid science with proven results, there would be no market, because nobody would bet into a market that's already predicted.

But no-one argues that it gives you an accurate prediction of the outcome.

People argue that TA gives you good indicators for how it is developing, where the important support/resist lines are, what the overall trend is and if it's likely to reverse etc. which is completely true. It gives you a decent idea of what points are good to buy in at, and which are good to sell at, but you obviously need a brain to be able to use the insight that TA gives you.

Don't treat it as solid investment advice as it is just an educated guess, but I imagine we'll hit 9.5k before strong support. At that point, we'll be going sideways for a bit I imagine. Maybe we'll dip to 9.2k intermittently during this sideways period. The important point on the chart after that is the downwards trend line from ATH, which is a make or break moment.

Pic related:

Orange arrows + red channel = bear flag
Thick green line = downwards trend from ATH
Thick red line = Strong support at ~9.5k, sideways movement
Red circle = Make or break moment when support meets ATH trend line

Bear flag continuation, looks like we're gonna break the trend line soon. Possible resistance at ~10.2k where the trend line is before dipping further.

If it bounces, which I find unlikely, I can't tell you what's gonna happen.

I have already sold and I'm gonna buy the dip.