It's gonna happen Veeky Forums, a few more hours of this and then it's straight to 9k

>muh bitcoin can only go down from here since i totally didnt sell at 6k

>make another generic thread like the literally 38479232 other threads since 6k
>oh I am just doing it to warn you guys!!1

>CORRECTIONS NEVER HAPPEN LALALALALA

Fucking retard, I'm talking about 9k or 10k, not 6k or any of that stupid shit.

The implication must then be that you think corrections never happen. Is that what you think?

9k is not an unreasonable level to correct to.

>Daily chart
>Big uptrend but closed with shooting star
>Means bears have alot of power
>Shorts still increasing
>if daily closes red we are going to 8k at very least, possibly lower in next 2 weeks

>everything must go down forever
>disregard the 10 corrections and bouncing between higher highs and higher lows since 6k
>disregard even the recent correction from 11750 to 10600, which fits the pattern as well

guys they know our plan, what do we do?

This is what logic dictates but ever since 9k BTC has defied all logic so I'm just waiting for this daily candle to close.

It didnt defy logic. Big boys push up and down market. There is no new money, only whales and people running from alts.

They will take their 100% profits (6k to 11.8k) and dump it again. No reason to push bull market when market is not ready.

>BTC has to come down since it MUST correct
>I'd say to at least 10k maybe
>... its not unreasonable
>It has nothing to do with me selling at 9k
>ITS OVERDUE I SWEAR ITS THIS PREDICTABLE

but user isn't wrong
what are you expecting? an uniterrupted parabola to 1MM?

HURRRRRRRR BITCOIN CAN ONLY CLIMN

Those corrections were too small. BTC has been pumping like crazy since 9k and going to 9.5k-10k would be a reasonable correction and a continuation of that trend line.

Also, daily chart closed with a shooting star yesterday. It is no coincidence that we find ourselves in a bear flag right now.

Don't be a brainlet.

Another brainlet I see. I could buy in right now and I'd still have made a profit. See

Oh and yeah, I forgot to mention, see that ascending wedge there in this picture?

plus how many brainlets are willing to buy into 12k btc?
December is still fresh in their memories
I say a solid bull run in a month or so

You underestimate normies, but buying volume has rapidly decreased and you are probably right.

really hope so, went into fiat with 60% of my stack, 20% left in BTC and 20% in long-term alts

lovely how you argue with TA, even though the TA has been wrong consecutively for the past 15 days when BTC hit 6k and everybody just made money from buying when it was oversold, holding and doubling their money. you sure weren't one of them.

But then, when there is TA right in that 1 out of 25 cases THEN ITS TA PROVING EVERYTHING, right?

Fucking astrology cucks.

Yes, there is a chance of BTC going to 9k, but not because of you retards and your astrology shit, because it also didn't predict a rise from 6 to 12k (which also defied any logic or reason). If it goes to 9k then it is the market sentiment because big players push it down again how they see fit, usually to buy lower. It is 70% big players controlling the market and 30% psychology of sheep following them, but 0% TA accuracy.

I agree on this. However there is no reason for a huge decline again. It will probably do sideways shit for some time now. I also wouldn't buy BTC at 12k atm, because whale fucker and big players are playing around too much these days. I just buy when it is massively oversold until it is overbought again. Repeat and take some profits. Just have to be patient and not FOMO into green candles.

Bull market might very well as you said 1 month away. My estimation is rather 2 months, but who knows. things move faster now.

Is there a good way to see if it is overbought or sold? Altcuck who started margin trading at 9800. Pretty much been riding this up with a 10x long. Not sure what to do now.

>RSI

Well I like the 4h and 1h RSI. I don't give too much on TA, but this is a solid indicator for me. if it is under 30 I usually buy, if it is over 70 and higher I sell and wait some hours. also applicable on 15min candles if you want faster trades.

Go back to r9k brainlet

Text book. Tonight will be fun to browse Veeky Forums.

>even though the TA has been wrong consecutively for the past 15 days when BTC hit 6k

???

Nice strawman, I've never said that TA is a 100% reliable way to predict the market because it isn't. In this case though, the indications are pretty strong and there are multiple well-established and reliable indicators for a bearish trend reversal.

Also, not all TA is good TA, which is the underlying assumption you're making. Just because some tard drew a downwards trend line and said "WE'RE GONNA CRASH TO 4K GUYS" doesn't mean his TA is worth the bandwidth it took to upload. Anything below 8k is a ridiculous expectation for a price drop, but 9k isn't unlikely.

>But then, when there is TA right in that 1 out of 25 cases THEN ITS TA PROVING EVERYTHING, right?

Here's the "all TA is equal" assumption again. The writing is on the wall for a correction. You actually have to be an idiot to not believe it after we just bounced off a strong resistance (downtrend line).

>Yes, there is a chance of BTC going to 9k, but not because of you retards and your astrology shit, because it also didn't predict a rise from 6 to 12k (which also defied any logic or reason).

The concept you are looking for is called "market uncertainty", which is nothing new, and yes, of course that means TA is either ridiculously hard to do or just not possible in uncertain times. If TA was a reliable means of predicting the market 100% of the time, no-one would ever make money on it.

It is, however, the same defying of logic or reason that makes a correction from 11.5k to 9k necessary. Again, in this case, there are several extremely strong indicators that we're looking at a bearish trend reversal.

Of course, there's the chance that this bear flag here is going to turn into a bear trap, but the chance is growing smaller and smaller the closer we get to the downward trend line by sideways movement.

if you weren't braindead you would have noticed by now that memelines DON'T FUCKING WORK, so if this isn't bait go buy some rope

>1 hour charts
okay thanks i will ignore this

So you are aware of the 1d indicators?

Still there on the 4h chart, and then there's a shooting star on the daily + a rising wedge:

Sometimes I think some of these are made up

>Descending dickwagon

Who names these?

It won't. It'll hold around 10-13k whole March. 14k mid-April from 10k dip. May 10 - $21k. End of May $30k.

Be honest. You keep bringing up 9k. You sold at 9k. You're not fooling anyone with your bias

The problem is that this is 4d-chess. If everybody expects it to go down thanks to solid predictions and market sentiments, it probably won't. If people realize it won't and therefore buy, it probably will go down after that. Why? Because it is how big players fuck normie-tier investors best. Therefore it is just pure luck for everybody who doesn't daytrade 5 minute candles or hold long and don't give a fuck about small fluctuations.

In this market situation there is literally ZERO reliable prediction that is better than a 50/50. Maybe except you shouldn't hold alts.

Thanks, I will look into this.

The absolute fucking state of brainlets, no wonder Veeky Forums loses money all the time.

investopedia.com/university/charts/charts7.asp
investopedia.com/terms/s/shootingstar.asp
chart-patterns.netfirms.com/bearflag.htm

Nice job pulling numbers out of your ass.

thanks

Dont get triggered by morons here. They are just too stupid to understand basic TA.

try looking at elliot waves instead of this garbage lad

I keep bringing up 9k because of this one simple thing called a trend line. 6k was a massive overcorrection, but the bull run ever since ~9k has been ridiculous and unsustainable.

If not 9k, then 10k correction is likely.

yeah because elliot waves worked so well when 4th wave hit 6k and then just ignored the 5th and shot up to 12k, cucking every seller around 6-8k.

okay everyone before you sell, ask why is this person telling me this, for my own benefit on an anonymous image board, or maybe because they want it lower

well, usually because they are degenerates who thrive on making others miserable. I kinda doubt that it would significantly move the market however.

who fucking CARES

we are going to 100k end of year just hold your bitcoins you brainlets

god damn im tired of telling you

I don't do TA with a bias. The indications are there and I think the writing is on the wall, but other than that:

I want it to dip to a level on which it remains stable for about a week, and that level is not when testing the ATH downtrend line. There are two reasons for this:

1. My altcoins are getting fucked in the ass by BTC pumping and dumping and I want it to stabilise and go sideways.
2. If we don't have a smaller correction soon and go on a bull run to 14k or something, we'll have an even bigger correction later which will fuck every single coin 50 times to Sunday and cause market volatility for weeks.

Sorry but what you want is irrelevant. Sure, you can wait for it to happen, but it is all about analyzing the current situation and acting accordingly.

Also it is your fault for even holding alts in the first place in such a market situation. Everybody knows what happens to alts if BTC fucks around too long.

>TA has been wrong
I wish people would learn about TA, it doesn't predict what is going to happen. It analyses entry/exit points, a resistance line can either hold or brake, just because it's there doesn't mean that it will always hold.
Just because faggots here sometimes treat TA resistance/support lines as 100% doesn't make TA invalid.
If a resistance line is broken then that signals a good buy/long opportunity, if it holds then it signals that you should wait with taking any position or you could short if you wanna risk it.

>because it also didn't predict a rise from 6 to 12k
It will continue up until a resistance holds just like it would continue to go down until a support holds.
This is why people should always wait with selling/buying until there's confirmation.

>Sorry but what you want is irrelevant.

Of course it is, and that's why I don't do TA with a bias. BTC has to go somewhere and I don't think it's going on another bull run. The indicators for a bearish market are very strong. There are not many good indicators for a bull run left, nor do I feel that the market sentiment is currently very bullish, but the bearish indicators are getting stronger and more numerous.

The thing is though, he was the one who asked me about what I wanted, because he suspects me of trying to manipulate the market in my favour. Of course, that's retarded, because a board with approximately ~2k posters isn't going to manipulate shit. I explained to him what I wanted because he asked for it.

>Also it is your fault for even holding alts in the first place in such a market situation. Everybody knows what happens to alts if BTC fucks around too long.

This is correct.

Finally someone said it. Based (You)

Hardly anybody sees the indicators "bearish" in mid to long term. But also not bullish. This may just take 2 months to sort itself out. The crash is over however, that's what 6k sellers have to face. BTC is not going down forever with the worldwide growing (yes, demand is higher than 6 months ago, otherwise price would be the same). It is just about finding a good entry point if you missed it. No reason to sell now however if you bought at 6k however.

If you judge it to be at 9k, good luck with that. But I think it will continue bouncing around 10-13k.

>Hardly anybody sees the indicators "bearish" in mid to long term.

This isn't a very long term analysis. Based on what I am looking at, I suspect it'll go to 9-10k, somewhere in that area and then go sideways for 4-7 days.

Long-term, I'm pretty bullish on BTC, but a correction would be very healthy for it right about now.

>The crash is over however, that's what 6k sellers have to face.

We're not going to see 6k again for a looooooong time. 6k is very undervalued. According to JP Morgan's analysis, BTC has about 3.5k in intrinsic value alone due to electricity costs, and then there's extrinsic value building up the price we actually see from there.

>It is just about finding a good entry point if you missed it. No reason to sell now however if you bought at 6k however.

I bought a fair bit at 8.5k, sold some at 10.8k and opened a short at 11.4k and closed it 11k. If my TA turns out to not hold water, then I'll buy back in and still have made a profit.

>If you judge it to be at 9k, good luck with that. But I think it will continue bouncing around 10-13k.

10k is also not unlikely. There is a very strong support line at around 10k that'll be hard for BTC to break, but if we do break it then we won't go any lower than 9k and probably won't break the 10k resistance for 4-7 days or something. If we go to the 9k range, I expect we'll bounce between 9k and 10k until we intersect the ATH downtrend line, at which point we'll break it and go on a bull run.

Well at least it seems you do your own analysis and judgements, which is fair and reasonable. Good luck on having them hold up. I am inclined to agree with most of it. But we will see if the uncertainty factor aka big player fuckery will just make our jaws drop again when it behaves totally irrational again.

I already sold when I saw 4h RSI over 70 2 times only to see it burst to 78 again. Yes, RSI alone is not enough, but this is just irrational at this point. I find it too hod to do big investments in such a shitty market, so I just do safe daytrading and I'm happy with 200-300$/day desu.

>But we will see if the uncertainty factor aka big player fuckery will just make our jaws drop again when it behaves totally irrational again.

This will probably happen. Whales do love to fuck with us.

I wasn't pay too much to memelines during the december bull run, but didn't everyone get BTFO here? I did tether up around 11.3k a couple of days ago, which saved my sats from the alt dump, but that memory of BTC almost doubling in two days is still in my mind that makes me want to dump it all in btc

TA doesn't predict the future. People treat it as if it does, but it does not. Some TA does successfully predict, but only when the signs are clear and strong.