Technical Analysis

Why do anons keep saying this?

Log scale most likely

If they keep posting it every day they might be right at some point, remember yesterday 9 PM est?

It's worth noting that symmetric triangles often fail to break out in the direction of the original trend. thepatternsite.com/st.html

TA is astrology for men

Most TA is a meme but the basic shit works. Trend lines support, resistance, fibs and momentum indicators are really you need. Those dudes with a million lines trying to predict prices are where it starts to get retarded.

ok, so in January, how did you know to draw the yellow line, and not the blue line?

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we go big ups
or big downs

>ok, so in January, how did you know to draw the yellow line, and not the blue line?

Fib retracement brainlet.

>Fibs

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You didnt, so you drew both. Once BTC dropped below 1st line, thats a big red flag, sell orders began that dumped it to 2nd line.

Also one could argue that the blue line is """biased"""" as it includes the bullrun which was already a break out and you dont map break out, because break out stop following trends. Where as the yellow line was a general trend leading up to the bullrun.

Also, that area of support was a previous area of support. Everyone is looking at the same chart and seeing the same shit. Half the people are thinking 'it's gonna bounce off here i'm ready to buy' and the other half are saying 'it could go lower i'll be ready to sell'. More people bought though which kept the price above that support and that got the momentum going to reverse the downward trend.

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i'm gonna believe you when you say fib retracement supports the yellow line
what i don't believe is that if fib retracement supported the blue line, and not the yellow line, you wouldn't just throw some other bullshit TA indicator at me instead, that happened to support the yellow, but not the blue

TA is supposed to help show you where is going, not where its been (confirmation bias)
TA works well traditionally but cryptos dont follow patterns very well so TA is only a guide.

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Hello brainlets, i was able to predict what was going to happen to bitcorn from that little purple flag. It wasn't even fully formed and i drew it in

TA is shit alot of the times, but at other times... basic TA helps alot
exactly.

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i'm not a TA person, but that makes sense to me
but you couldn't have known that until after february 1st
on feb 1st, the bottom was just about to touch my blue line
sure, after it crossed it, then you knew it was on a dowtrend, and waited for a support level to redraw the lines
but in january, before it dipped before the blue, there was nothing telling you to draw my yellow line

I get that TA is a guide
Support levels and trends are accepted outside TA circles

What I don't accept though is people who go around after the fact, boasting how the indicators they cherry-picked to match what has happened predicted this all along

If the price movements were different, they'd just pick a different set of indicators that happened to support it, and claim they'd pick those indicators and not the previous ones with the information they had a few months ago

this is true
Alot of the top charters claim duhhh I CALLED IT

When they drew 3 charts over the days, with 5 different out comes for each chart

is price action, congestion zones and simple volume analysis TA? Because that's been really useful to me.

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also, I looked up fib retracement
here's a chart I made that uses it
at the end of January, you have 3 data points that support the blue line
3 points where the price bounced off the blue line and it coincided with a fib level
so i don't see how anyone could have predicted the yellow line until after feb 8th, when the price found its bottom

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I drew those same ones up on trading view(pretty obvious if ur eye is trained for it)...oh well..my friends dony wanna listen....they are gonna be pissed off camprrs when we bounce off

if enough people believe the lines, they start to become a thing.

> (You)
>i'm gonna believe you when you say fib retracement supports the yellow line
>what i don't believe is that if fib retracement supported the blue line, and not the yellow line, you wouldn't just throw some other bullshit TA indicator at me instead, that happened to support the yellow, but not the blue
The blue line could have acted as a support area based on the trend but it didn't hold, so it simply dropped thru, do to whatever negative shit was going on. So naturally the next retracement was the next target and you can see it held, which then became an area of support (again) and continued the trend. Like I said. Everyone is looking at the same chart with the same lines and ready to buy or sell at all points and that's why it works, when it does.

like santa?

Imagine being so retarded, that you draw a triangle on BTC's pattern on a chart, then ask's how it's stayed perfectly in it. I hope this was a max level troll

people wanna tack it all up to some trend formula or some shit, looking for THE answer, but it's all sociology. What are the formations saying about sentiment?

Using just one of those is TA.

TA is there to identify assymetrical risk/reward opportunities, it's not really supposed to be a crystal ball. In the fall from 11k to 6k, there are some green candles along the way, some people/bots probably bought because it hit another line with another method and different extremum. But even if you only decide to draw the blue line that's still useful, if you were betting on it to hold and it dies you can sell and decide when to rebuy later, you don't really need to catch the bottom and as long as you have more or less clear what your plan is, it's fine even if you have to buy sometimes higher because in the long run you're saving yourself money.

>it's not really supposed to be a crystal ball
I understand that
I'm not a fan of TA, but I'm not here just to shit on it
I'd run out of shit very quickly if I was going to do that

>Lines have been there since Jan 7th
op wrote this
this is the statement i have a problem with

>explain how BTC price has stayed in the triangle perfectly
and this one
"because that's how you drew the triangle" is the answer

TA works exactly as well in crypto as it does in any other market.

"TA doesn't work in crypto" is about the most retarded meme I've ever seen on Veeky Forums

if it doesn't work here, it shouldn't work anywhere. there's no difference, its just people buying and selling

What leads anyone to believe that the past movement of a stock has any indication of it's future?

That's all fair, I misunderstood what you were saying. Until the fall to 6k I don't think there was many people thinking about that line.

this
>high
>close
>high
>muh TA

fucking retards drawing lines how they want them to look. No wonder u brainlets are getting liquidated

>using TA

Sorry bud not into that Voodoo stuff it’s astrology for me

A crazy bullrun or we free falling to hell

what do the stars say about crypto?
I want detailed analysis

TA is a meme because it only works in hindsight.

Proof of long, proof of short, or fuck off.

Buy at 20k, sell at 5k

You fib's should go to the end of the wick not the body!

LMFAOOOOO THIS

lvl 10 kek

Because your triangle is fucking huge.

this. there are always multiple trendlines and support/resistance zones, when one gets violated it looks for support around others.

people hate what they don't understand, they can't wrap their heads around the fact that TA is an analysis of market psychology and behavior. all the chads look for quick easy "answers" to the market where there are none, just statistically probable outcomes you can take advantage of using proper risk management techniques.

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>when one indicator didn't work, find another that did
>claim the second one was the one you were gonna use all along
>when someone disagrees, tell them they just didn't do it right
TA is fucking religion
if it works for you, I'm happy for you, enjoy your gains
but don't bring your gospel here and tell me it's science

>but don't bring your gospel here and tell me it's science

if it were a science everyone would be able to do it with reproducible outcomes, obviously this isn't the case. like i said, it's a form of statistical analysis that certain individuals can be better at than others, i don't see why this has to trigger you so much. TA isn't a religion to me, it's a tool.

btw i agree that most TA is trash and that most people using it are trash (nonsense ideas, deleting posts, redrawing lines, cherry picking indicators, etc). that's not the point. the deeper point here is that people trading with bigger stacks and a higher level of strategy are preying on people who are utilizing fairly basic TA (like the ones you see 90% of the time), and if you understand how retail traders look at and interpret charts you can lay traps and hunt order books in a consistently profitable way by painting the chart in a way to lure them in. this is why TA noobs often feel like TA doesn't work when in reality it was being used against them.

i don't really care if you believe this or not, but you're coming off like you have a problem with the individuals behind TA rather than the TA itself, whether you know it or not.

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> you have a problem with the individuals behind TA rather than the TA itself
yes, it's exactly that
i'm sorry if i didn't communicate that well enough

i come from a stock trading background
there, the TA people keep to themselves
they're happy
everyone else is happy
and I don't have to filter through TA crap on my feeds

TA is based on the axiom of "past market movements can help predict future ones"
when you disagree with that basic axiom, it's of no use to you
just like if you disagree with "there is a god", religion becomes of no use to you
and you don't want to hear about it everywhere you go

when you mention statistics and probabilities, that's science
an electron can be observed with a certain probability within an orbital
that orbital was initially calculated using statistical measurements
that's still science

you won't find a lot of hate towards TA in the stock market
because people there accept that people have different "religions"
and the preaching is confined to their "churches"
in crypto, for some reason, people became TA zealots
maybe because FA doesn't really work with crypto
we don't have accepted valuation models for that
i don't know

you do your thing
just don't imply others are stupid for not believing what you believe
i don't think you're stupid for believing what you believe
just like i don't think religious people are stupid
if it helps them lead a happier life, that's not stupid
if TA helps you make gains, that's not supid
just stop with the preaching, please

>> What leads you to think your behavior tomorrow is going resemble today's? Because it usually does?

I'm a Volume Profile Trader sometimes I use fibs for confluence. Understanding orderflow is key. Trendlines only reveal 90% of the story.
I can tell you with 99.99% accuracy which levels will hold and which levels will crumble using high value nodes only.

Don't hodl, you need to learn how to trade using basic T.A. This bear cycle could last longer than a year. Bull-markets only occur when dumb money flows in mass amounts.
Dumb money will buy your bags at 10x price.

Bullmarket wont come until the markets are regulated for mainstream audience.

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All you have to do is redraw your memelines every time you're wrong.

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What am i looking at? If you continued the fucking lines more than one inch you would see most of them predict a massive movement.

I didn't draw into the future because the blue lines represent each arbitrary point chosen where the market currently reached or else it would be covered with black triangles. If you can imagine what that would look like you can see the wedges/triangles are remade every time it breaks a trend which is 11 times based off the chosen points.

Ok, experts: where will BTC be in June?

Because we believe

I hear everyone talking about bull-runs.

For a bull-cycle you need
1/ lots of gullible newcomers we call them dumb money.
2/ some people argue - that corporate money will inject huge amounts of capital into crypto-space.
They already did in 2016 and took profits in January 2018.
3/ Institutional money sold at btc $18k-20k, sold xrp at $4, sold XLM at $1
4/ Instutotional money will buying BTC back at $2k -4k

When you finally realize the market is rigged and that BTC could drop to $2k
When you realize that altcoins like ONT - NEO - ICX - could back to $1.

It's all good I'm not a investor just a trader..

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>Stop preaching in a topical subsection of an open forum, aka thread
Uhh stob lizzening den

tfw you want a complete privacycoin but you also want to be able to tell if that coin is a scam

Oh my god...

You are are both correct; all three lines are correct. There are waves running in and out of the chart. You have to identify them and adhere your trading to them.
>>Everyone is looking at the same chart and seeing the same shit.
No, they are not.

The price is the equilibrium of all known knowledge including noise and mistakes.

There is a tendency for humans influence to things in proportions to phi, or the golden ratio, like everything else across the universe does.

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ONT is only like $2 you retard

>The price is the equilibrium of all known knowledge including noise and mistakes.
>There is a tendency for humans influence to things in proportions to phi, or the golden ratio, like everything else across the universe does.
That's the premise, but it doesnt give you a conclusion.
That's why TA is bullshit, you cant draw any conclusions from that premise