Why are you idiots freaking out? We still have a ton of support to rely on

It will go straight down to $4k.

TA is a self-fullfilling prophecy, and there are always a million different "TA experts" with a million differently drawn tea leaf lines, so some percentage of them will always be correct in hindsight (at which point they'll brag about how they guessed right, develop a Twitter following, and start making money by giving "coaching services" to their followers instead of actually trading.

when eth kicks back alts will rise

I'm not saying anything is guaranteed. I'm just saying we have more support to rely on.

If you think support and resistance lines are meaningless, you're retarded as fuck.

I'm not even a trader, I've been holding for years.

>Meme lines

Is there some kind of motivating force behind all the FUD shill threads? Like when Shareblue flooded /pol/ in 2016?

Yeah, now zoom out tho

Every morning before checking my trading account I go on biz

>Biz full of pink wojaks
>Everyone is panicking and blaming everyone else for their own trading decisions
>BTC is down 2%
Or
>Biz full of green wojaks, talking about Lambos, shilling shitcoins and sucking each others dicks
>BTC is up 2%
Biz is full of weak handed faggots. Meanwhile my stack is growing from not listening to anyone on biz.

no it's just people who don't understand their investment. Crypto is still a highly emotional and speculative market still in its infancy stages.

When a small event happens or something impacts an exchange or webstite, there can be tons of dramatic moves following.

TA often works because everyone is looking at the same indicators or lines. That's why you get channels with multiple hits on the support/resistance lines until it breaks out one way or the other and people who bet on continuation of the channel get burned.

The recent drop from 11,800 was very close to the channel line that everyone was watching, like 200 points away. A shit ton of people were planning to either short or lighten up their positions there, so it got front run by people selling in anticipation of other people selling.

TA does work, but there is a lot of amateur or poor application of TA, e.g. all the shorts who shorted at every possible trendlines all the way up to 11,800, they ignored the strong trend signals from rsi etc and didn't want to miss out on any crash.

yeah 9k support is impenetrable until it hits this resistance line again and if it doesnt break it it's dumping even lower

>Sold bottom grats

>9k is impenetrable
I feel like I've heard this before. Probably a few weeks ago. Short memory huh?

This is the absolute state of biz

Sentiment seems good to you only because price has been manipulated up.
It's a mask. An illusion. Not going to take much to get right back to fear and panic.
People are still very afraid.

I'm not talking about the sentiment regarding the price, but the fact that a lot of good fundamental news has come out for BTC in the past couple days, people feeling more like BTC is gonna climb back in dominance compared to alts again now that alt season is ending, etc.

I've been following BTC since early 2016 and between then and now, I've never seen depression/negativity like I saw on the day BTC bounced off 6k. Then sentiment wasn't that low even during the summer China FUD or the Bcash fork drama. I really feel like the market makers perfectly planned out the bottom at 6k, the sentiment couldn't get much worse, any lower then that and I think people would really have considered crypto dead (and of course the whales don't want to actually KILL their cyclical cash cow).

shhh sweet angernon

Its pretty obvious we’re going up. Buy and fuck the shorts.