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Is it happening now, BTC below 37K !!??!!
- Thread starter burden
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- bitcoin cryptocurrency
Except it's not. A poor double top at best and monthly has to close under 35 to even consider a break.
Lol, tealeaf reading at best. It may or may not go down.
DXY chart is what counts these days.
Is now the right time to invest my remaining PLN in the more stable terra luna?Nice playbook heh ?
Soon these kind of actions what happened today for luna will happen to all other coins.
Delevaraging of luna destroyed this coin is noone going to high leverage anymore
You need to learn more. It is called a slanted head-and-shoulders pattern, which can form on any time frame. It is just that the higher the timeframe, the higher the chance of success.
You could have easily Googled for this information yourself:
https://www.dailyforex.com/forex-te...-shoulders-pattern-forms-april-28-2022/178043________________
If it stays below $30k until the Friday close, it is then far more likely to form a $30k resistance level.
If that happens, I do not see much support until $20k. Of course, fundamental analysis always trump technical analysis. Oh wait, we are talking about Bitcoin. There are no real fundamentals.
Once upon a time, all the gurus touted Bitcoin as safety against stock market declines, dangerous world events, and inflation. Well, we all saw how that went. It might still prove useful against capital controls.
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So now people are disputing the existence of price pattern formations that technical analysists have used for fifty years. And the fools are now calling normal people fools. Now I have seen everything.
Peak clown world has arrived.
https://www.dailyforex.com/forex-te...-shoulders-pattern-forms-april-28-2022/178043
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The term "slanted head and shoulders" pattern does not exist. This is the only website I've seen mentioning it, what a reliable piece of information. You posted 2 images, both showing a H&S pattern, not a "slanted head and shoulders" pattern
.From the top in 12 April 2021 to the top in 28 March 2022 is a 25% difference. Even if you take the top of September 2021 and March 2022 it still remains a poor H&S pattern, like I previously said. Both the baseline and top of the right shoulder confirming my view.
Learn what a H&S pattern is and learn what confirms or invalidates it. Next time I won't educate you for free, gotta pay a bill or something.
A friend of mine is the best forecaster I know: he manages to pick tops and bottoms with almost absolute precision (only in the wrong direction). His last move was to buy OHM at $1k. Now he sold most of his alt coins. Just saying…
@JohnnyDoe I am actually trying to buy XMR at the moment but all exchanges are having issues right now
putting up lines arbitrarily is not science, but some voodoo practice at best.
It is all liquidity driven right now more than ever.
If QE comes back tomorrow it goes up, if not, doom.
That’s some good analysis: if it doesn’t go up, it will go down.
Btw, sometimes basic TA is self-predicting. For example, you might calculate 61.8% retracement from ATH and you will get…
Unless you're from Africa or South America, you might have your account frozen and helpdesk will string you around for months.
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