Up or down?

Down in about an hour. Exact same pattern and same time as Friday Morning

Already making red candles dropping through EMAs

>>2215674
What's an EMA?

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:)

>>2215680
exponential moving average, the blue and yellow lines.

>>2215681
You think it will drop to that before recovery?

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>>2215661
Here is my TA

maybe one more test up then down in around an hour.

>>2215696
recovery?

fibonacci levels call for a retrace to around 1000 in next few days. and a long fade to nothing eventually. these tulips be dying

>>2215699
you just drew lines that follow the trends lol...

I respect the effort tho.

Google fibonacci retracement and you'll learn your first real TA indicator.

>>2215699
Also add some simple moving averages and exponential moving averages and use those as support/resistances in different timeframes. Also use candles instead of lines.

>>2215699
SnowyNW on stocktwits is who I learned from. Add him, go through his posts, learn. He is the only trader who actually posts when to get in and get out to make cash on trades. and ive never had a loss with him either...

>>2215661

>>2215706
Well I do think that the "correction" isn't over. But I can't imagine it falling past $1500 and to say back down to $1000 seems pretty far fetched at this point.

>>2215661
looks like reversed head and shoulders pattern to me.... meaning bullish

>>2215728
I traded my crypto for fiat today so I don't get fucked when this thing starts crashes again. I've been thinking about getting into trading stocks which seem much safer than this crazy shit. What platform do you use? Do you day trade or just hold? What kind of percentages can you average in a month?

>>2215737
You've clearly never seen an artifically valued cult stock capitulate before then... BTC literally has 0 real value...

Then again cryptocurrency is novel. But hype is hype.

>>2215752
I day trade. Using over 25k I can make 200% in a month depending on market volatility. SnowyNW trades with 5k and never breaks PDT rules. Makes the retail investors money. I've seen him make 100% with 5k and 3 trades in a week.

I'll hold for a few weeks or a month or two with mid-large cap large volume stocks like TSLA

>>2215754
Well I did see it drop 32 billion last night over the course of a few hours so I know how quickly this shit can go south. I really want to get into stock trading so at least im investing my money in something tangible.

>>2215747
H&S is meaningless when a reversal signal is present. signals can be negated by stronger signals. and a 50% retracement of a gain is a very bearish reversal signal.

>>2215763
As tempting and cool making 400% in a month or two on btc is, the risk is substantial and its a one trick pony. Stocks have relatively minimal risk due to stop losses and heavy volume as well as better analysis data. There are also dozens of 20%+ gainers per day. And the price influencers are more easily identified.

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>>2215661
This is my analysis. A new uptrend seems to have established, at least hourly. You can see the last trendline I drew is currently being followed.
Also keep an eye out for fib levels, as always these are incredibly precise and help you alongside volume and indicators.

>>2215763
Honestly a day job is your best bet lol. Having trading as a hobby is nice tho. Log 1000 hours of charting and be able to make 10+ trades in a row without loss then maybe think about it as a career.

>>2215706
To nothing?
That just doesn't seem viable given what crypto is offering the world.

If BTC is going to die like that, something has to take it's place.

My bets would be ETH, but as we can see it's tied to (or someone is tying it to) the growth/loss of BTC.

>>2215772
Stock trading sounds way less stressful than crypto desu. The whole market is built on hype and this shit makes my hair turn grey watching the numbers constantly. I have 25k I just took out of crypto that I want to put into the stock market. What platform do you use to trade on?

>>2215783
Stock trading is also based on hype for the most part.

>>2215773
That new uptrend isnt a real new uptrend until it starts to test previous highs, as the previous downtrend was too strong. Red bar volume the size of my dick as well not good.

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OHH BOY, HERE WE GO

>>2215706
Anyway, this.

I also expect a retrace to around 1000 and even lower, mid-term. The whole market is just overbought and far too away from its real value. Holding long term now seems pretty crazy, but again, I do scalping and short-term leveraged margin trading, so don't care about the long term since I can do that at any price :)

>>2215783
It really is, Stocks move up and down on weekly scales mostly, it's rare to get these insane +20/-20% changes 5 times a day.

So much less stressful, and what's more is they actually produce something / give out news reliably.

>>2215785
Somewhat but they are stock in a physical company. 99% of cryptocurrencies are literal scams that people are trying to race to get and not be the last one left with the bags.

>>2215786
Absolutely. This is just a very short term prediction. I 100% agree with you in the long run, see >>2215797

>>2215799
Basically (DGB / RDD / MOON)

/biz/ pump n dumping things seems great, but someone is losing money.

>>2215785
lol? not hype, its just highly reactionary. But movement is based on catalysts. if the stocks you're trading are hype based, you're not trading the right stocks and are exposing yourself to significant risk. The hype stocks are obvious. hype = fat price movement off of relatively low volume and mfi.

>>2215783
I use Etrade to day trade for the faster refresh rate. milliseconds matter. But TD's think or swim platform is superior for analysis.

Stock trading is no less stressful. ITs all money. Only your reason and emotional control determine the stress you experience.

Confidence is key. Once you suffer a loss you're fucked forever. It will fuck with your mind. So use simulations with low equity and follow PDT rules before you trade real cash.

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>>2215786
>>2215798
What do you niggers trade with? Helb me

>>2215804
Ah i see.

>>2215798
you think so? SnowyNW used to log 30% gains daily back when he was active. And thats making one trade a day. None of this get in get out get in business since he didnt want to break PDT rules for low equity traders.

>>2215807
>I use Etrade

Thank you

>Confidence is key. Once you suffer a loss you're fucked forever.

I've lost so much on crypto nothing can phase me now. I'm still up overall but I lost thousands.

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>>2215798
Friday's top gainers. On extremely low volume and volatility due to labor day. usually the gainers are double or triple this. Some 100%+ on high volatility days like tuesdays and wednesday fed updates.

>>2215808
I use IG - it's a fairly nice app. And i use StockTwits to see what people are saying about certain stocks.

My favourite watches are bioscience right now, especially CRISPR research companies.
Might not be this year, or even 5 years from now, but CRISPR is going to cure all disease.

>>2215823
Thats the thing. you haven't lost then. but you feel liek you have. The losses always stay with you and exaggerate themselves. The gains fade and seem insignificant. The human brain is irrational, selfish and quite frankly retarded. IF you can ignore your brain and just look at the charts with a strategy no matter how scared you are youll be successful. The retardation of others is why you can make gains. 99% of the time everyone will be telling you to do the opposite of what eh charts say. Don't listen to them.

>>2215830
Oh i know, i mean like how crypto is just up and down so much in one day, where as those gains there are often steady.

I saw SGMO - Sangamo Bioscience go up 85% in 3 days after Pfizer got involved with them to make a haemophilia drug.

60% on day 1, 15% on day 2, 10% on day 3.

I've been waiting for it to dip down but it just won't.

>>2215832
yep. Biotech and the Russel have been hot as fuck for 10 years now. check out MNKD.

>>2215836
Ahh i see. don't chase, just look for the next thing. Try and predict the initial 60%, so you have no stress and its better than making those 6 super high effort chase trades for 10% each. But I'm sure you intuitively knew these things haha, its just harder done than said.

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Somebody here willing to give 0.0XXX BTC in order to allow me to play your game?

>>2215832
Thank you. I'll definitely check this stuff out.

>>2215853
try a simulator. Forget about crypto lol. They're all based on BTC which will be crashing for the mean time. real stocks are more worth it. And I've seen people make millions with options, but that shits beyond me. Too risky.

>>2215850
What resources do you use to research companies to buy stock in?

>>2215838
>MNKD
Oh nice, thanks for the tip. Added to my watches.
>>2215850
>harder done than said
Definitely, and it's not even like hot news is ever an indicator something will go up.

So often i see a company drop some nice sounding news like they've secured a patent / got FDA approval for something and the stock drops 1-2%

Then the same damn thing will happen to something else and it blows up 8-15% on the day.

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>>2215859
Here is the current state of BTC.

>>2215859
I appreciate the info.

>which will be crashing for the mean time
Isn't this what people say since the beginning?

>>2215861
Yeah sometimes news is factored in. Only unexpected news causes movement. Suprise earnings, unplanned ccs, etc.

>>2215860
Once you gain charting experience you can watch the volume and % change charts for big movers and ride the momentum. Yahoo top gainers is nice and basic for that. Also earnings reports schedules or any big news causes movements. Also technological or political speculation. Best gains are when the general public is skeptical and gets proven wrong, ex: $TSLA in 2011-2013.

Welp... there it goes...

I still feel like it/eth will bounce 10-15% again but i just don't want to catch that falling knife right now on the off chance i grab the handle instead.

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>>2215884

>>2215853
poorfag wants 20 bucks

>>2215872
You're right. I guess I continue to analyze based on stock experience, and forget how emotional people can get sometimes.

But I saw the cup and handle coming. Also the crash was predictable as well due to the previous catalysts.

RSI right now is just very overbought. But it did reach 97 previously, so if it goes to 3500 itll be there again lol...

Upside is just minimal compared to downside now.

Consider looking at it from the outside. would you feel safe hopping in at this price?

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>>2215892
It's still following the trendline, but had a small down correction. Volume is also bearish. Probably going to crash when that trendline gets seriously broken

>>2215894
I'm not greedy.

Over 2135 in next 15 mins will be bullish. Then test 2200 then 2500 if no bearish signs.

Another test of 2020 will be bearish confirmation. Then another test of 1850 if that happens, then 1780 if no bullish signs meanwhile.


BTC could very well continue up, but as it stands right now the indicatiors are looking down. And until they look up again my opinion stands.

Price action is dynamic. So what could be a sure bet one minute could change the next depending on action. Trading is just being ready to adapt to the signals.

>>2215928
Sorry, meant a test of 2045 is bearish. But lots of red bars so far. means more are coming.

Maybe BTC will be a 3 jump chump and hit 10k after the rsi resets lol. We can all dream..

For that to happen the RSI would need to go back to 50ish without a new low below 1780. RSI currently 80ish on the week scale.

>>2215928

Thanks bro gonna x50 long .5 BTC on MEX, wish me luck.

>>2215969
Good luck, if it does something you don't like/didn't expect, either reevaluate your reasoning/strategy until it does what you expect or get out

>>2215905
>You're right.
Don't take me seriously. I'm just a poorfag who don't have real experience.

>>2215992
Haha nah, its totally correct to point out that predicting the future is impossible and unexpected things happen. Just stay on your feet and be ready.

I don't trade BTC unless its a long term low risk entry since getting in and out is almost impossible to do quickly. With stocks, you can get out instantly, which makes me feel very safe.

Missing out on gains may feel bad in the beginning, but losing feels 100 times worse. And there is always tomorrow. At least with stocks haha.

Crypto is a psychological nightmare.

>>2215979

Went for x25 entry @ 2269

This is just change so I'm happy if i lose this.

>>2216003
whats on your watchlist for tomorrow?

Bullish test coming, but at the same time RSI is increasing a little faster than I'd like for bullish confirmation. Could just as well be resetting for a further drop so it doesn't go into oversold territory. That would be fading action.

Seems like we're being taken for a ride. This will probably top out around 2300 (looking at polos numbers)

>>2216009
tomorrow markets are closed. Only think on my watchlist is $TSLA for a breakout and a 4% gain I'd enter at 326, 4x margin and hope for a 10% gain on my initial equity. $MNKD for a test of previous top from 2 weeks ago, and if it cant break then sell, and if it does break out double down. Its unmarginable though since it is only small cap. Would swing those overnight until a bearish indicator.

>>2216003
>Crypto is a psychological nightmare.
Heh. Don't make me remember this. I mined some BTC back then in 2013. I recently remembered it because of a TV reportage. That HDD with the wallet has been formatted three or four times, therefore it's all lost forever.

>>2216021
Better to just watch BTC from afar until it does something you like, and focus on other stocks. Hindsight and regret are killers. I doubt you look back to 4th grade and say man if only I had started learning calculus back then I could be a millionaire quant by now. So don't look at BTC that way either haha.

>>2216021
Reminds me that a buddy lost 3k BTC on a flash drive about 4 years ago

>>2216034
What's your opinion on daytrading oil in general?

>>2216040
Not enough volatility to make a profit unless you have a few million dollars. Unless you mean trading options, then I say nothing but bearish options since the Keystone is going to fuck alberta up. KXL will drop prices in midwest, and canada, something like 50-100k albertans will lose jobs because of it.

>>2216044
are you in a chatroom or something? Would be awesome to exchange with experienced daytraders since i'm just starting

https://www.investing.com/currencies/btc-usd-technical

>>2215853
I'll let this here, just in case:
19C4DuRKizkLwfJCmC1NN7FYNVEHxpe74c

>>2216107
Nah I just use Stocktwits. Trade rooms are sketch sometimes.

>>2216107
iHub is good too. Lots of very experienced and helpful traders.

>>2215667

I think we're going to crash down to 1500-1600 soon. The only reason we haven't yet is because BTC has this weird microphone feedback thing to it where China or the US will often reverse the other's play. It's like a old turn based game. When one country's investors are tired the next comes in and does the opposite of what the other one does.

I've noticed US investors benefit the most from this since they usually sell during their afternoon while China is buying after US lowered the price. In a small way it's almost like we're fucking wealth out of Chinese Millionaires.

But my point is, I think the price collapses once Chinese investors get sick of picking up American losses each day.

>>2215728
>SnowyNW on stocktwits

Holy shit, I've never seen Stocktwits before. It looks fucking awesome! Thank you anon, I just signed up for that shit.

>>2216171
>>2216219
Yeah, StockTwits is good, they've good a good sense of humour there too; it's no hugbox.

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>>2216202
My guess while looking at the trend canal and ZigZag is 1600€ in the next day, after that a short rebound and then I don't really know. The weekly candelstick chart suggests a bit more room down to 1200€, but then again it's bitcoin, which seems quite bullish this year

wooohoo cheap bitcoin! buy every satoshi of it!

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>>2216692
Yeah, on sale. Only $2200.

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>>2216716
just bought at 1960 on polo

>>2216264
Seems more and more like I was right, downtrend canal holds

>>2215754
>BTC literally has 0 real value
>Clearly does not understand what "value" is

>>2217675
what is speculative value

>>2218339
still value
are we going to argue metaphysics now?

approaching oversold.. might be a bull wedge for some short term gains