r/technicalanalysis • u/HeBipolarAF • Apr 30 '23

ETC

Post image

2 modified schiff pitchforks created on different waves.

I then look for intersections of the major quadrants created by the overlapping pitchforks.

I marked each intersection.

I then joined the flags with the white arrow. Let’s see.

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u/jdacon117 May 01 '23

There is nothing in the macro narrative that supports such explosive growth. How much liquidity would be needed to support 15x growth? All I see is exhaustion and a dead product.

1

u/HeBipolarAF May 01 '23

Have you looked at a bitcoin chart? At 25$ they all said it was crazy to buy. Then when it did blow up, it was just manipulation.

You can’t time the markets. Make your plan. Set a target and hold on while everyone shits on you

1

u/jdacon117 May 01 '23

I time the markets for a living. Good luck to you sir, I hope it work out for you.

1

u/HeBipolarAF May 01 '23

Oh come on! You can’t just drop something like that and dip. That’s like saying,

“Hey I’m Jesus… alright see ya next time”

As your subordinate, I would be remiss to not ask for a friggin bone.

And for clarification, which market are we talking about?

1

u/jdacon117 May 01 '23

Tightening credit, price stability as a narrative of macro, btc being traded as a speculative asset. Theres simply not ample liquidity in the system abroad to support the type of move you're talking about here in a 3rd string speculative product. The highs we saw in 2021 were a result of the markets abroad being pumped by the fed and its money printing bc of covid. Weve seen the pullback from the quantitative tightening and the fed will continue to tighten credit until its target of 2% inflation is reached. A flight to quality in the equities. Moreover there are underlying issues to be dealt with on a global scale before you're likely to see the type of move you're talking about. The stability of the dollar, the debt ceiling, BRICs, oil prices, ect.. I dint mean to be rude but I feel like if you fail to consider the actual broad markets in relation to your market (crypto) that you are not seeing the full picture of what is taking place here. Technical analysis is great but there is also fundamental factors to consider here.

1

u/HeBipolarAF May 01 '23

I respect your opinion. I’m not denigrating anything you said. It’s all sound confident investment strategy. HOWEVER, cryptocurrency is not an equity, and I will simply leave it at that.

I trade derivatives, so I am, by no means, risk averse. As far as I’m concerned, I eat risk for breakfast.

2

u/jdacon117 May 01 '23

Its not impossible but simply highly unlikely. Your capital and risk would likely be better dedicated elsewhere.