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Let me give you some actual TA

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Thread replies: 48
Thread images: 8

You see that? That's the 50% fib retracement from the ATH beginning with the rally from the end of March. In bitcoin especially, 50% is extremely strong support and resistance. Approach that line from the bottom (like in a rally) it will almost always rally from 50%. If you punch through 50% from the top and test it as resistance it almost always results in a smackdown. What no one here will tell you is that this crash will almost certainly hit the 23.6% fib at $1479 like it always does in every crash because they're greedy bastards and don't want to share their profits. You're fucking welcome anons.
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>>2802929
thanks!
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>>2802929

Now anon.

Why don't you tell the class why you chose the end of March as your starting date?

To me, this seems irrelevant.
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>>2802949
Np man, I'm just waiting for the show to start again. This is better than TV, it's probably one of the most expensive forms of entertainment you can watch. Thinking about all that money changing hands is exciting and the shitposting in biz has been absolutely top notch...just trying to something backk to my anons
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>>2802981
So Bitcoin is gown down to $1500 and this uptrend is sort of a fekout?
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>>2802975
You have to consider all time frames desu. To trade sideways chop you want to consider the immediate formation and local top to local low. When you have significant price movement you have to scale out to the start of the latest major rally to the ATH, or alternatively 0/low of the last bear cycle (around 220 or so in BTC's case) to ATH. But in either case you want to scale out to all major time frames and find confluence in support/resistance areas between them.
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>>2803006
Imo yes, this is a huge fakeout/bulltrap or whatever you want to call it. Or it's simply just a technical move, maybe it doesn't even need to be a trap. Enough people just need to buy into the trap until it reaches a significant resistance zone (technical zones where traders are looking to sell for guaranteed profits from when they scalped 1750 coins AKA the last price other anons were trapped into bag holding a few days ago) and it will bounce off of it. Once the bounce looks confirmed, no one will want to stay in because the price looks weak when being rejected at a strong resistance point and it will trigger the next leg down. Rinse and repeat until selling pressure has been truly exhausted.
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>>2803006
>>2803064
Decided to include img. Notice the difference in sell volume in red to the left compared to the buy volume in green to the right, buying is not occurring with significant volume. The price only went up as high because of a thin orderbook, you only needed small buys to push the price up. That's because no seller actually wants to sell that low so they won't put orders in the book, but they will panic sell as a market order if the price goes low enough. Also see how cleanly it's turning around on the 50% line? I didn't choose where to draw that line, that's where the line is if you draw fibs from beginning to end of ATH rally. Everyone else is doing and looking at the same lines for the most part, and right now that line looks more like a roof than a floor.
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>30 minute bars
When will you fools learn?
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>>2802929
Thank you.

Where can I learn more of this stuff?
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>>2803100
You realize I wouldn't even be able to draw the fibs you see there unless I scaled out to 12h right? I scaled into 30m because I'm talking about a small and specific price movement, in this case the bulltrap rally starting from this morning. You're a fucking moron.
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>>2803112
Anon it's looking to me like it double bottomed while bouncing off the 38.2% line. Seems like the beginnings or a reversal, no?
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>>2803112

I'm on the sidelines cryptosenpai, just tell me what to do.. you have my entire trust at this point in my life.
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I actually agree with you OP though once August hits and the form doesn't happen shit's gonna rebound
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>>2803102
Most of it I picked up on my own after trading crypto for primary income the past few years, I browse basic TA websites like investopedia to learn the basic mechanics then just apply them to my own experiences. It's proven (like literally, through experiments) that nothing will teach you like experience and trading with real money. I "knew" about this stuff a long time before I started getting good at it, but trading is 80% a mental game I'd say.

If you want a good TA bootcamp try youtube channels like John Olszewicz (he is an example of someone who is very knowledgable about TA but gets a lot of trades dead wrong, view with caution)
https://www.youtube.com/user/carpenoctom

Another great resource I can recommend is Coinigy's channel, the lead trader Brian was a former oil futures trader I believe. Great stuff and fairly accurate, but they would've missed a lot of gains during the huge rally to ATH because they are more traditional, conservative traders.
https://www.youtube.com/channel/UCdaJtMEVnuhTXSsSwA93sGA
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>>2803091
like pottery. im just mad i still don't know how to short. i got into tether and have been making gains since last week. just traded on this last rise and now fall and scalped.
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>>2803130
Wish I could help you more anon, just keep building your skills and find what works for you. Don't listen to the ETH/LTC shills, FUDers HODLers. They're all just trying to eat your lunch.
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>>2803276
Any thoughts on trading on the (ETH or LTC) / BTC markets?
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WHICH WALLET DO I USE TO STORE MY BTC. Blockchain good lol? Mycelium? Help.
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>>2803120
Could be, there's a stronger case for it being a double bottom since the crash could just as easily stop and reverse at 38.2 rather than 23.6. I won't stop you from calling it here and longing, but don't count on double bottoms as a sure thing...these are just the last three most recent "double bottoms" people got fucked on, and on some pretty significant support fibs too.
http://imgur.com/a/KfxDl
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>>2803312
Coinbase is fine as long as you aren't doing anything illegal.
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Are the whales building up LTC for a final Pump and Dump? Seems to be the case from my PoV
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best way for learning how to do this whole fib shit? i find it pretty hard to use reversal signals in the absence of a strong ability to characterize resistance/support levels.
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>>2802929
Please stop spreading nonsense. There is a place for certain indicators in quantitative, systematic approaches to allocation. Drawing lines on a chart and looking for patterns with your eyes, however, is the equivalent of tera cards. the only way to be sure you haven't been fooling yourself with confirmation bias, or one of the thousand other internal misconceptions humans tend to have, is to create a constant environment of significant sample size and test different variables.
https://arxiv.org/pdf/1706.10059.pdf
This is a scientific, repeatable, testable approach to trading.
"technical analysis" has not been used outside of mechanical systems since computers were fast enough process the data.
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>>2803326
Should I hold ANYTHING in bittrex during August 1st or hold my ans in the ans wallet. Some other anon warned me of exit scams
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>>2803378
I'm just keeping my money out of the market until I see the floor, whales aren't done milking gullible suckers yet in my opinion.

Wait for things to level off, don't stick your money into an environment with daily double digit losses/gains day to day
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>>2803374
>claims TA doesn't work
>thinks algorithms that backtests markets works any differently
>muh cognitive dissonance
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>>2803296
haven't really looked into it much, i heard there was a bit of decoupling lately but the only way you can really trade that market is with algos because mispricing tends to happen for moments at a time. if you like programming and free money you should research it.
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>>2802929
I don't typically care for fib retracements because you can basically place them anywhere, but this does curiously line up the 78% level with the previous high of 1300 and the 50% level lines up with the bottom of my ichimoku cloud.

A few weeks ago I called the 1900 bottom, but if we do break this level we will see a serious crash to around 1300. I'd prefer to see Bitcoin range between 1900-2400 for a while and get some confidence back into altcoins.

We shall see!
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>>2803446
by your own statement TA shouldn't work either.
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>>2803494
so this is what hopium looks like
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>>2803497
you're very dense aren't you?

I never said B doesn't work, so my argument that A works is still logically consistent. YOU claimed A doesn't work, but think B works when in reality A=B...how does A then suddenly not work? that's called cognitive dissonance, the thing I was pointing out.

I bet you don't even understand the content of that whitepaper even though you're trashing TA with it, fucking cuck.
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>>2802929
If you use words like fib ironically you might be clinically retarded.
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>>2803514
What is hopium?
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>>2803556
did you mean to say...unironically? you fucking retard
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>>2803645
No, I mean ironically because OP was clearly here to troll.
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Should I sell now?

Today is legit my birthday and I want to earn like $20 so I can justify some nice food for myself
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>>2803705
can't tell you how to trade, sry anon. it all depends on too many factors; everything from last entry/exit, portfolio size/distribution, risk averseness, overall trading system, etc. happy fucking birthday though!
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been looking at 1500 since june, but it will be a short stop at that low level and we will be back on our way by september
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Hey faggots listen to OP. The rare good post in a sea of shit
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>>2803549
oh yea, that statement was stupid, but seriously, they do work differently. There are aspects of TA that have proved useful in quantitative analysis, but only after extensive back testing, not one day waking up and saying, yea these fib lines i drew last time worked, that must mean they will work next time, ill just keep believing that on blind faith. because that's what it is, faith. and if you don't believe them systematically, they have no use for you. Without a concrete systematic approach you have no way of knowing if your profit(or loss) was from your own genius(or stupidity), or from luck. And keep in mind a lot of people have made a lot of money doing the (mathematically) wrong thing, that doesn't mean what they were doing was right. the market hides failure like this in its various cycles. There is a reason that the most successful hedge fund to ever exist (rentec) almost exclusively employs mathematicians, statisticians,. and physicists. the level of mathematical certainty obtained by using scientific statistical analysis has been proved to be the most efficient and profitable approach to asset allocation. I may have been a bit aggressive in my original statement, but legitimately, i'd like for the analysis in this board to move past the 1970's and accept that mathematical(quantitive) models for asset allocation are far superior to drawing a line on a chart.
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>>2802929
This was true at the time but the winds have shifted we are going back up
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>>2804622
its almost like most technical indicators are lagging indicators.
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>>2803786
You seem like an intellect which is rare for this board. What are you holding or did you put it back into fiat? Also what are some good holds I am thinking of just putting it all into fiat. I am still up on my ROI But don't want to get burned here.
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>>2802929
>TA on an unregulated market where every trick in the book is used.
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>OP in charge of picking right point to draw fibs
just end youre self my man
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>>2802929
TA doesn't apply to crypto
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>>2804786
yes, but then again TA doesn't apply to anything so kind of a void point there
Thread posts: 48
Thread images: 8


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