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I’m picturing Rayvin Luded out his mind, trying to open his car doors with his feet and just apologising left, right and centre to trees, bins and the pavement. 

Like being in a Silicon Valley Starbucks, this thread. 

I see TGQ has moved from crypto into NFTs.

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There’s no way that it doesn’t go back to $2k or even below that for a short while, whenever it looks like it’s going to break out properly somebody (a group of 🐳) dump it. 

 

The big players will squeeze every last drop out of the weaker hands if there are even any left by now.. I wouldn’t expect any kind of massive run up like 2017 again for a good while yet if ever. That’s not to say a big bull rush won’t happen again because it likely will I just wouldn’t expect it to be like December 2017s and imo if regulation does happen that’ll be the end of any kind of huge explosive growth should the regulation work and cease all the manipulation. Of course this is all my own opinion and I know nothing as per 99.999% of crypto knowledge, don’t try telli g that to these ‘hand cupping my bollocks’ TA graph lads because they will tell you that TA works in crypto even though someone can dump a load of bitcoin at any given time and thus completely put any graph to shite.. 

Edited by 247
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29 minutes ago, TheGingerQuiff said:

I'd be surprised to see 2k any time soon. Agree that a big bull run isn't likely any time soon either though, but it will come. There's warning of potentional global recession which could provide some impetus but who knows. Of course TA works btw. 

 

I think this little pump we are seeing now is a false bull flag and there will be an epic dump in the coming week or so. $2k might be over pessimistic because the resistance at 3-3.5 seems solid but imo another big dump it’s coming sooner rather than later.. I don’t think it would hang around long there mind. Mate if TA works for you then absolutely go for it, a good mate of mine swears by it and has made a decent stack for himself shorting this bear but personally I just don’t think it applies to crypto like it does the stock market.. it’s to unpredictable and to easy to manipulate but again I could be wrong.

 

I feel like if a recession happens it could go either way tbf, you could get loads of panic selling and people pulling their money out or the other way around entirely lol. 

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20 hours ago, TheGingerQuiff said:

I'd be surprised to see 2k any time soon. Agree that a big bull run isn't likely any time soon either though, but it will come. There's warning of potentional global recession which could provide some impetus but who knows. Of course TA works btw. 

Surely the debate on whether technical analysis works is dependent solely on who is performing the analysis?

Edited by Kevin Carr's Gloves
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55 minutes ago, Kevin Carr's Gloves said:

Surely the debate on whether technical analysis works is dependent solely on who is performing the analysis?

 

If we're agreeing that it only works for those capable of correctly interpreting the data then we've already ascertained that it 'works'. Anyway it's only a guide and can't predict the future with any certainty, just assist traders playing the probabilities. Most of the successful traders will say sound risk management is the single most important tool. I'm too much of a gambler to ever have a crack at trading anyway I'm just an interested observer  

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9 minutes ago, TheGingerQuiff said:

 

If we're agreeing that it only works for those capable of correctly interpreting the data then we've already ascertained that it 'works'. Anyway it's only a guide and can't predict the future with any certainty, just assist traders playing the probabilities. Most of the successful traders will say sound risk management is the single most important tool. I'm too much of a gambler to ever have a crack at trading anyway I'm just an interested observer  

Yeah, the problem I have with TA is it basically says if something is going up jump on. You then have to guess when to jump off, as well as that being the side of trading I don't like. If you're just buying and selling shares then you are basically just gambling the same a s roulette or poker.

 

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It took me many years of trying and failing with pointless TA strategies and squiggly indicators to realise the old cliche, buy low sell high (and vice versa for shorts) is pretty much the crux of trading. Add some basic support / resistance and some decent risk/mm .. then just choose your battles wisely (when there’s volatility/volume is often best).

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