Alright biz let me give you some education.
This big green candle is called a bullish engulfing. The fact it came after a red candle with an extremely long lower wick means that bears could not sustain downward price pressure. This may have something to do with the fact btc has been oversold on the daily and weekly charts.
All before we mention the 200 day EMA which was only broken on the drop to 6k.
See you at 10k. You've been warned
>bullish engulfing
yeh dats a thing. get woke.
this doesnt matter. none of this matters anymore. mtgox trustee can crash everything. market only forms patterns based on his selling habits. TA literally useless right now.
Candle patterns can be easily back tested and you'll quickly see that they don't really work most of the time.
>oversold weekly
But still overbought monthly. See you at 1k.
Are you actually disabled or fudding?
Big sellers like that should sell OTC which they did not.
They sold enough to be doing blow out of high class escorts brap holes for the next 2 years.
Further trades like this will most likely be off exchange. Meaning it won't crash the market again.
However they won't tell the masses of brainlets such as yourself this until about 15k. In which they'll dump their bags on you, rebuy at 10 and you'll fomo in again at 20k.
>muh TA
>muh reverse cock and balls pattern
>never gonna be below X again... this time for real!
you TAfags are embarrassing yourself with your terrible calls
Ok
Monthly time frame is too long a period to use. 3 months ago people only started hearing about crypto.
The sheeple bought into the biggest exit scam in history when they signalled to the banks that they liked crypto.
Approaching the impending economic crisis you will see banks all of a sudden move to crypto as a way to "create a fairer and more equal financial situation".
What they won't tell you is they've been accumulating since 1k.
Buy now or don't. Your choice user
>6 days straigh of red candles
>One day of green candle
>Seriously guyz its over bears cant sustain anymore pressure
You fcking retards dont get. Bears = bulls here. They push the price up to dump it for solid $. They dont want to dump it to 3k because they would rather you retards fomo and buy their bags at 10-11k
Kys seriously.
See
You
At
1k.
Screencap
This
1 month and 1 week charts are stupid on btc. Max you should be looking at is 3 day, but the best one for me has always been 1 day charts. It's the same as saying amazon or google stocks need a massive correction. They don't, price doesn't need to return to the norm after a set amount of time and exposure.
i'm not going to buy BTC until it hits 20,000/
then i'm going to sell at 16 cents.
>200 day EMA which was only broken on the drop to 6k.
It was penetrated yesterday
>mfw this is the most manipulated market on the planet and turboautists try to predict the future by reading tealeafs
See the part that says return to normal?
Well the 200 day ema is normal.
If you look at the overall picture, i.e. sentiment, TA, news and almost any other geopolitical/financial event occurring in the world now it's quite simple to see who is manipulating the market.
3D chart looks absolutely bearish
- first time under cloud since 2015
- failing rsi and macd
- 200sma is ironically at 4k
i thought we had moved past this already
you're a fucking retard.
my shorts are getting wet