Can someone explain this to me? Ascending triangle, everything

>>2782407
zoom your chart out more

>>2782407

Ya i would agree, I was betting against the overall market trend but spikes like that are kind of uncommon, this definitely felt like manipulation.

its almost as if TA is COMPLETELY FUCKIN IRRELEVANT AS ITS A LAGGING INDICATOR AND HAS NO IMPACT OR USE FOR PREDICTING THE FUTURE YOU DUMB CUNT

looking at shapes and giving them names and saying oTher shapes will follow isnt a precise science, you are no better than the local newspaper horoscope who tells me i will encounter new experiences every second week

i fucking hate you technical analysis dipshits, i really do-youre s fuxking scourge honestly stop posting this shit

say it with me now-the market is controlled by peoples actions, not random shapes

>>2782460
This
TA is only useful if price volatility is low and everyone is using TA to self fulfill the prophecy like the stock market which is filled with TA bots. Crypto is highly volatile and is just played by a bunch of retards that have never looked up any TA or have experience in playing stocks.

>>2782460
>>2782523
you only think this because you're too retarded to understand TA

>>2782523
This is the beauty and danger of crypto. It is like the unpredictable retarded cousin of the stock market, doing whatever it wants when it wants, and is influenced by all the other retards it meets on the short bus. Do all the TA and analysis you want, all you are doing is trying to make sense of chaos, which is what human beings do naturally anyway....but don't ever think you have the edge because you are using some fancy maths to analyze the crypto market....

>>2782460
TA BTFO will ta rubes every recover?

protip: NO

>>2782407
People probably decided to dump a shitload of their coins at the same point. They might be using the same meme lines.

>>2782407
TA's main use is for whales to manipulate markets and expectations so they can dump and/or scoop. Same as any market, except exacerbated by liquidity. Ascending, descending triangles, wedges etc. will behave more like coin tosses than what you expect them to do. And triangles only exist because of market psychology (fear and greed) and expectations.

On top of which, some Eth whales and bots are literally only there to produce trading volume so that it stays "on top" despite being, you know, Eth. This means creating excitement and panic, the more volume it produces the better. This is why walls even exist and frequently either evaporate or just jump from price to lower/higher price or are traded into by one and the same person.

In simple terms but the best I can put it from trading for a few years. You could read the Book of Wolong but at this point it's practically become outdated, should give you a feel for whale/MM psychology though.

>>2782407
Rising wedge trend reversal. Google

>>2782407
>still doing TA in 2D
>and not in 3D

flatlander

>>2782807

Looks like it, did you short?

>>2783053
I did, it was obvious this dump was coming.
bought back in at 184 though.

>>2782832
Is this a real thing?

>>2782407
How are you still not getting this

There are no rules in crypto. No regulation and way too many wildcard variables = buku volatility. You cannot predict this shit the way you predict stocks.

Just remember to buy high sell low and you'll be fine

>>2783112
Lmao I analyze in 4D. Get on my level peons

>>2782407
ITT

OP finds out TA is a meme and TA faggots only remember the times when their coin flip guess was right

File: IMG_3435.jpg (26KB, 430x322px) Image search: [Google]

26KB, 430x322px

>>2782407
>not knowing wave theory
You really think something can keep going in one direction forever lol. It's ying and yang man everything gets balanced eventually

>Looking at the 1min graph.