Who had that Bitcoin target price prediction?

Ranga

Billy Hamilton status
Dec 31, 2008
1,431
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Almost never have I see a rising wedge break upward. See my previous comment on this pattern.

Pennant pattern is symmetrical triangle which as a much different top line. See below.

I find pennant patterns in crypto to be an absolute bitch. Half the time they break down and half the time they break up. And on the ones that breakup, they seem to fail before double top. Hate when this pattern is formed, which is all the time. :toilet:

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Forgot we were talking about crypto. In my world that's how it works. You're on your own here chief.
 
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ghost_of_lewis_samuels

Miki Dora status
Oct 27, 2019
3,665
2,398
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Almost never have I see a rising wedge break upward. See my previous comment on this pattern.

Pennant pattern is symmetrical triangle which as a much different top line. See below.

I find pennant patterns in crypto to be an absolute bitch. Half the time they break down and half the time they break up. And on the ones that breakup, they seem to fail before double top. Hate when this pattern is formed, which is all the time. :toilet:

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Do TA folks have to sit and look at this stuff all day or do you have software that tells you what to do?
 

r32

Administrator
Staff member
Apr 1, 2005
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Do TA folks have to sit and look at this stuff all day or do you have software that tells you what to do?
The big dogs like Citadel, Alameda, etc., they rarely allow anyone on staff to trade manually. Everything is traded by machine using complex algos, developed by the traders, researchers, and developers on staff. The staff still has to monitor everything, every day, watch the news, and do all the research.

For retail day traders, you watch the charts and react.

For retail swing traders, you watch higher time frames, wait for pattern to develop, set your buys/sells and walk away.

**

A good day trader can make way more money than a good swing trader.

A good swing trader can make way more than a crappy day trader.

A good investor can make more than crappy traders.

A good day and swing trader can out perform most hedge/investment funds in % gained, year after year, easily.

**

All of the TA for crypto is taken from stock world. It's all the same. But obviously crypto tends to be much more volatile and has way different dynamics at play than the stock market. Things such as tokenomics, coin burns/minting, etc. are important to keep an eye on.

That said, many TAers only watch the charts and 0% fundamentals. I prefer a mix, like the big dogs.

From 2013

 

ghost_of_lewis_samuels

Miki Dora status
Oct 27, 2019
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Does anyone have thoughts on the upcoming ETH merge?

opportunity to receive an airdrop of 'new eth'

and/or greater opportunity for chaos ?
 

crustBrother

Phil Edwards status
Apr 23, 2001
7,462
2,910
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Does anyone have thoughts on the upcoming ETH merge?
i'm bullish

assuming the merge is successful (and i'm cautiously optomistic it will) i think that the drastic reduction of energy consumption for operation of the ETH network will be seen in a very positive light

BTC will be seen as the planet-killing network while ETH becomes the green network

ETH will begin the long process of slowly eating BTC's lunch

BTC maxis have a *very* different perspective
 

r32

Administrator
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Apr 1, 2005
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Does anyone have thoughts on the upcoming ETH merge?

opportunity to receive an airdrop of 'new eth'

and/or greater opportunity for chaos ?
I don't have any thoughts on it but the merge hype is insane. Been years in the making, and some people think this could be "the flippening" where ETH takes over #1 marketcap and BTC becomes #2.

I have no idea long term, it but I think ETH could be pushed to new highs next bull cycle. From here, a run to $10k would be about 6.6x ROI.
 

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,104
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i'm bullish

assuming the merge is successful (and i'm cautiously optomistic it will) i think that the drastic reduction of energy consumption for operation of the ETH network will be seen in a very positive light

BTC will be seen as the planet-killing network while ETH becomes the green network

ETH will begin the long process of slowly eating BTC's lunch

BTC maxis have a *very* different perspective
you bought the narrative congrats :roflmao:

ETH will still be in the low to mid triple digits within the next year while all the green crowd will be sitting on their thumbs too scurred to make a purchase
 

deepwater

Legend (inyourownmind)
Aug 9, 2022
365
177
43
i'm bullish

assuming the merge is successful (and i'm cautiously optomistic it will) i think that the drastic reduction of energy consumption for operation of the ETH network will be seen in a very positive light

BTC will be seen as the planet-killing network while ETH becomes the green network

ETH will begin the long process of slowly eating BTC's lunch

BTC maxis have a *very* different perspective
CNBC did a report today on what the impact of the merge will mean to Ethereum, first time the question has been raised on a major network regarding the 99% decrease in energy usage and how it will change perceptions on Bitcoin due to its continued use of POW. It's gonna be a serious short to hell for BTC.
 
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ghost_of_lewis_samuels

Miki Dora status
Oct 27, 2019
3,665
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CNBC did a report today on what the impact of the merge will mean to Ethereum, first time the question has been raised on a major network regarding the 99% decrease in energy usage and how it will change perceptions on Bitcoin due to its continued use of POW. It's gonna be a serious short to hell for BTC.
Well eth has to prove to be stable and functional (time) before any short against btc would play out
 

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,104
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ETH and BTC aren't really apples and apples.
one can actually be used for applications while the other failed to meet its original intended use and was rebranded for the masses, more like apples to potatoes. real gold is basically useless too, so maybe that's why the new narrative was written.
 

r32

Administrator
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Apr 1, 2005
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LUNC going absolute bonkers over last 7 days, 240%.

Hype for 'drop a zero' is building. 1.2% burn tax is now coded in, and should be activated in Sept. Also, staking will be re-enabled. Could be the biggest comeback of all time, or it could crash again and be the biggest double ponzi crash of all time. But keep in mind, it's no longer tied to USTC (UST Classic), which is the (unstable) stablecoin that brought it down.

Available at KuCoin, MEXC, Gate, Kraken. Be careful with this one!

 
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ghost_of_lewis_samuels

Miki Dora status
Oct 27, 2019
3,665
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LUNC going absolute bonkers over last 7 days, 240%.

Hype for 'drop a zero' is building. 1.2% burn tax is now coded in, and should be activated in Sept. Also, staking will be re-enabled. Could be the biggest comeback of all time, or it could crash again and be the biggest double ponzi crash of all time. But keep in mind, it's no longer tied to USTC (UST Classic), which is the (unstable) stablecoin that brought it down.

Available at KuCoin, MEXC, Gate, Kraken. Be careful with this one!

wow maybe my bet on 600k luna at a low point right before the split will turn out to be a miracle
 
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deepwater

Legend (inyourownmind)
Aug 9, 2022
365
177
43
If you have balls and a solid internet connection, you've prob been slaying on short term trading given the volatility over the past few days.

@LifeOnMars Why are all BTC maxis such a-holes?