I believe the bottom is in

bitcoin

#122

Consider it from a different perceptive: percentages.

BTC could fall 50% from here. And 50% again from that point. Then 50% again from there. When you look at it like this, the amount that it can fall is infinite.

So in many ways Manuel is correct, while in other ways, you are correct.

At the end of the day, it’s all inconsequential.


#123

The bottom is in Vs. The bottom isn’t in.

Both sides are ignorant. There are cases for either scenario.


#124

here’s a good thread.


#125

Yeah I follow him he’s great and put up a good argument to why he believes price Will break below the 200 week MA…
the difference is , unlike others he never once suggests this is definitely going to happen. I’d guess the reason for him not giving guarantees it’s going to happen, is the fact he understands he’s using TA not a crystal ball…
As @kryptokenzie has mentioned,to believe whole heartedly that it’s definitely going one way or the other is the road to rekt city… having a plan in place for either eventuality will probably serve you better than being on one side or the other.


#126

well that is a 100% drop from its current price point so yeah it is a lot lmao


#127

This is what I think could happen

The lines are clones of each one, though they look bigger on the right side it is because of the LOG setting.

IF BTC is in the triangle and when it breaks down and using the purple line, it has a length of its opposite down to $1.9k and being the 0.786 FIB projection to the downside from the dotted line points in the image too, nice coincidence?

Now … if BTC bounces again at $3.2k which is another FIB point of the dotted projection to the downside, it could bounce back to 4.5k then it would form a bear flag, just to have its down movement to $1.3k, that is the full projection as stated by the gray 1 and it is the previous rally ATH.

So, place your bets ladies and gents, where should BTC go? :beetconnect:


#128

yip, some of those projections are scary low but can’t be discounted. the red diagonal has acted as pretty solid support thus far as has the horizontal at 2954 (bitstamp prices, not marked on my chart pic).


#129

I lost you at GBP alskdfj lkasjdf


#130

Chinese new year on Tuesday, Get those shorts in bois


#131

Manuel, your chart has nothing on this:


#132

Looks similar to mine :see_no_evil:
definitely a case of, if I draw enough lines I’ll hit something.


#133

lol yes it does look like a web or tangled mess, just several FIBS, resistances and supports I’ve been placing on several time frames too, but to me it looks perfectly organized :slight_smile:


#134

Your probably aware of this, but if you use the visibility settings on each fib or trend line you can allocate them to specific tf’s so as not to clutter your chart.


#135

but I like them that way :sob:


#136

@Clarky663 I was going to ask what those blue line moving up means… surely moving up like that doesnt really work… if it does can someone explain this concept… I havent seen this before.

Crash


#137

They’re clones of the first red diagonal trend line from 2017 then placed on highs and lows which show confluence with current price.

Maybe watch a few of this guys vids


#138

If you watch the dude’s video… it makes sense… still not sure about those blue lines… there is no basis for them

Crash


#139

It seems find random peaks that line up… and draw a line… hmm… interesting…


#140

why wouldn’t they make sense? the basis is previous diagonal trend lines. by that logic moving averages make no sense…


#141

I think @airbaker 's graph is spot on… … :wink: