Care to expand any further or are you just going to talk in one liners?
Charts/TA
- Thread starter MirosWife
- Start date
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Here's a chart for ya..
Eth flipped BTC
Eth flipped BTC
i'm good
Any comment on key moving averages where a lot of buy/sell orders are setup, so can help identify support/resistance levels?
their only limited use is to contextualise fundamental factors
on their own technical indicators hold no predictive value
Understanding where S/R levels sit isn't trying to predict anything, it just helps to understand spots to place buy/sell orders depending on the situation. The risk metric I posted is just a measure of risk appetite, but you also need to support that with other data e.g. not long after those peaks in risk, the 10 year US bonds tend to have sharp daily increases and help to confirm that some further downside is coming in the riskier assets like crypto.
You also need to pay attention to news events at the time as well to understand whether macro factors are driving the markets, such as the FOMC meeting today in the US that was the trigger for institutions to 'Risk Off' in early November and move to things like 10 year bonds.
tldr; TA has no predictive value
I have no idea why you bothered to post in this thread if you weren't willing to have a discussion about your views.
noticed that nobody was pointing out the obvious, is all
someone clicking on this thread might make the mistake of giving TA more credibility than horoscopes and flat earthism
What about moon cycles.. They're good right?
TA is just one tool to help make decisions in financial markets, of course fundamentals and global news events are also important. The moving averages just help me identify support and resistance levels without drawings 30 lines on a chart, I’m not trying to predict the future price with them.
- Jun 14, 2013
- 13,076
- 15,681
- AFL Club
- Essendon
Nonsense. Plenty of good traders make a living using TA.
Price has bounced between the 50 week SMA and EMA for a week or so now. Lose the EMA and I'll get worried. The biggest selling pressure is coming during Asian trading times for the past couple of months (likely due to Huobi shutting down their CEX and Evergrande), but their selling appears to be slowly tapering off in the last couple of weeks. This just feels like another 2-3 month accumulation period, similar to June-August.
Feels like we are about to pop on ETH (in a good way), this is squeezing nicely and I predict some decent price action when volume returns after the holiday period. Also seems like a fairly clear bottom on the weekly chart.
Pop
BTC did the same yesterday arvo... But you all know that by now
Thinking it's likely we drop to that $45,5 line you have in the next 36 or so hours? Im thinking we might go lower to at least 44 but hoping for a quick recovery. EOW/EOY might see some serious dumps.
44-45ish is where the 50 week EMA sits and generally acts as the last support level in a bull cycle. If there is no quick bounce here we lose 40 I reckon.
- Jun 14, 2013
- 13,076
- 15,681
- AFL Club
- Essendon
Not sure about timelines. There's a high probability that we hit that low, but we've come close already so it's probably not a good time to sell now. We should get a reaction around 45.5 if we get there.
I think the high is in for this cycle. RSI was lower at 69k compared to the previous swing high at 65k. Volume has dropped off. Retail isn't playing.
The most bullish case I can make is that 69k gave us a higher high than 65k. If we get a third top above that in this cycle, that would be a good time to look for the exit gates.
I'm not selling, but agree retail isnt buying and neither are whales. Ive got more into the rabbit hole of defi, so much so moving almost 1/3 of my holdings into the Tombverse, and splatterings on Time.
I'd be happy to range around 40-55k for months.
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Whales are definitely still buying and haven’t stopped since the November low. 2nd largest wallet has also been buying heavily since then as well. This is why I’m still confident this is simply another accumulation phase of this bull cycle like June-August.
- Jun 14, 2013
- 13,076
- 15,681
- AFL Club
- Essendon
Who said TA doesn't work? We bounced $120 from my support line.
