Cryptocurrency

[Paralytic]

I got my crayons out too.



Stochastics, candles and oscillators blah blah blah

[scooterscot]

Move the line slightly to where it makes more sense, hits more actual price points - and you have a different viewpoint:



Well well look at me, I'm a TA expert now.

You're on the right track. You're looking for confluence when drawing a trend line. The more support / resistance along the trend the more meaningful it is. The trend line I've drawn goes back to the first 3 month of Bitcoin price action history.

[Whorty]

You're on the right track. You're looking for confluence when drawing a trend line. The more support / resistance along the trend the more meaningful it is. The trend line I've drawn goes back to the first 3 month of Bitcoin price action history.

[scooterscot]

The beauty of TA is that it is in the eye of the beholder. If the chart does not support your cognitive bias, choose a different set of points.

You might as well base your trades on your daily horoscope.

Then it is not TA. If you have bias there's no point to it. The point of TA is to measure probability. Nothing more nothing less. It is an aid. Studied probability mathematics at Strathclyde for my post grad, I liked it. So TA naturally appeals to me.

[scooterscot]

Move the line slightly to where it makes more sense, hits more actual price points - and you have a different viewpoint:



Well well look at me, I'm a TA expert now.

Something else to consider when drawing trend line, what was the RSI doing at the time? Each trend I draw not only looks for confluence but also what the oscillators were doing. If they also show confluence then the trend is very strong.

It is not as straight forward as you're making out here.

[scooterscot]

How long does bitcoin (and any other crypto using similar blockchain algo method) have before quantum computing forces the algo to increase complexity to such a degree that China secure enough percentage of the mining capacity to take full control?

Is it relevant?

The same theoretical quantum computing power could take down the current financial system by intercepting encrypted transactions thereby bankrupting countries in hours.

[TheGreenBastard]

Then it is not TA. If you have bias there's no point to it. The point of TA is to measure probability. Nothing more nothing less. It is an aid. Studied probability mathematics at Strathclyde for my post grad, I liked it. So TA naturally appeals to me.

I'd leave a scathing review for them, the amount of times you've displayed mathematical ignorance is astounding.

Also, given your historical prevalence for being wrong, either you're supremely bias and it's corrupting your TA, or TA is bollocks.

[scooterscot]

What ignorance - please provide a source?

That's quite a claim.

[TheGreenBastard]

What ignorance - please provide a source?

That's quite a claim.

For a start, doing financial analysis on a stock and presenting a conclusion that doesn't incorporate historical dividends.

Shambles.

[scooterscot]

I asked for a source and got an opinion. Sigh.