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Wtf

Expanding/Reverse Symmetrical Triangle? The massive volume spike in the 2nd move up didn't materialize into a rally and failed to intermediate support (POC). This PA is a major criteria for a rev sym triangle setup. To confirm this setup, price needs to move up a third time and fail roughly at the red box (the red box is also a major pivot). Price won't move in a straight line, could fall to 6K and this pattern would still be valid. Typical count = 5 touches. Expecting a lot of fake outs. Just observing.
BITFINEX:BTCUSD
by MoonPickle
1
Bart Simpson stealing your Bitcoins Ever since i started with forex and crypto almost 2 years ago i was wondering what even is goin on ? In my early days i read every book i could get my hands on, always thinking the magical answer to trading must be somewhere hidden in those books. Edward Magee , Murphy, Voigt were definitely the good ones. Anyway. 95 % of all traders loose their money. And yet, here we are. Retail traders use all these lagging indicators, combining them, changing settings and interpreting things diffrently on all sort of timeframes. We use literally over 100 year old technical analyses to predict the future based on past price action? Doesnt that sound stupid to anyone? Tell that to your neighbour and watch the irritated look on his face. The best way to predict the price would be to manipulate it yourself. Of course this is already being done simply through the media. The Bitcoin price is choreographed through news. Good news always come in bulk as will bad news. Coincidence? No. We might aswell lower the opacity of our candlesticks to zero and trade on google trend searches for "bitcoin". More than 50 searches day for one week means we are in an uptrend. Wait till cointelegrah trashes bitcoin and buy the dip. While my tinfoil hat is already warming up, who is owning and funding cointelegraph? Sadly we are not all billionaires and can control the bigger picture ourself. But what about the small picture, how is the price manipulated on the 1minute to 4 hour timeframe? Nowadays you cant look on any chart without seeing Bart Simpson like modern art everywhere. But what is even going on? From my understanding whales go stop hunting. If the bigger trend is up, and we are trading around support a whale would love to squeeze the longs, triggering the stops to push the price a ittle lower, to then buy his crypto at a discount and start the pump. High frequency trading bots then create the illusion of a weak pullback, so noobs fomo in and pump the price even higher. With every stop hunt, pump, barting, the momentum gets weaker and weaker. At key resistence the whale decides that the price should go down and starts the short squeeze setup. If anyone has a better understanding i would like to hear a different theory.
BITMEX:XBT
by globalz11112
WTF LitecoinLike I said in the title WTF! Litecoin just decided to go on a freakish bull run today which normally I would be happy about, but there doesn't seem to be any real reason for this degree of movement. I sincerely hope that this volume is not because of the Litecoin Cash fork that was openly dismissed by Charlie Lee as a complete SCAM! I want to believe that people aren't that dumb :pray: Either way just keep an eye on this if you have open trades, I believe that a pull back to the $200 or even the $160 range is entirely possible.
by Kuza0
5
BTC Vs Eos - Will the base pair skew the charts. I expect Eos to retrace back to point c after finishing 5 waves and then possible consolidate through the cloud, if BTC takes off to challenge exiting the descending triangle then EOS might shoot lower to the third box and create a new trend line on the 1/2 gann line. Any further than this and the chart would be invalid as it would likely become a bear trend. Indicators will move a bit but wave wise using the comparison to BTC as its the base makes sense to look for areas where this might have congruence. At this point I think BTC will climb slowly along the trend line up to the end point of the triangle and around 15K ish mark. depending on the speed of this then the trade here should still be valid.
by WhispersNZ