Bitcoin Price Thread

[schizo]

Anyway, it could simply turn out to be a "ascending triangle" as shown below. However, that's only if it can remain above the rising trendline. Once the trendline is broken, then it's anything goes.

 

[schizo]

Which is the better TL no.1 or no.2 and why?

View attachment 338116

Which is better? It really all depends on your conviction. No doubt, you'll be entering much sooner at (1) than (2).

Agree, but I'm also talking about determining which bar(s) to draw TL's from based on where price closes in said bars.

I usually pick the lowest lows.

However, see this new line that connects 3 lows?? 3 is more valid than 2 IMO.

 

[SunTrader]

Which is better? It really all depends on your conviction. No doubt, you'll be entering much sooner at (1) than (2).

View attachment 338125


I usually pick the lowest lows.

View attachment 338126

However, see this new line that connects 3 lows?? 3 is more valid than 2 IMO.

View attachment 338128

As I said previously I look to the bar closes as well but didn't mention only needing two pivots for a complete trendline. I really fail to see the need for more.

If a 3rd or 4th, etc pivot touches around it and reverses fine.

But all that means is the trend is still in place because if not obviously price would continue falling through line.

 

[schizo]

Not only is she back below 69K (yet again!), it looks like she will close below the trendline. This doesn't bode well. I don't expect her to check out before she reaches 60K, but 50K is not entirely impossible either.

View attachment 338105

 

[schizo]

As I said previously I look to the bar closes as well but didn't mention only needing two pivots for a complete trendline. I really fail to see the need for more.

If a 3rd or 4th, etc pivot touches around it and reverses fine.

But all that means is the trend is still in place because if not obviously price would continue falling through line.

Having 3 as opposed to 2 means the trendline is stronger and it will not be breached so easily.

Anyway, there's no right way or wrong way in this game. Stick to whatever works for you best. If you're constantly milking money, that's the BEST approach. On the other hand, the dumbest approach is to enforce your views on the market. It should be the other way around. Let price and indicators guide you. Good luck

 

[SunTrader]

Having 3 as opposed to 2 means the trendline is stronger and it will not be breached so easily.

Anyway, there's no right way or wrong way in this game. Stick to whatever works for you best. If you're constantly milking money, that's the BEST approach. On the other hand, the dumbest approach is to enforce your views on the market. It should be the other way around. Let price and indicators guide you. Good luck

Just expressing my view is all.

 

[SunTrader]

Closed, yesterday, below TL# 1, not #2. That will very, very likely happen with todays close.

Here's an Hourly view from yesterday's break. Again TL#1 ahead of TL# 2. Seems the preferable way, rather than the conventional default way "they" teach it.

 

[poopy]

64K by Monday equity open.

 

[Specterx]

Looks like WW3 is bearish for crypto.

 

[S2007S]

Looks like WW3 is bearish for crypto.

I keep hearing ww3,

Not happening anytime soon.