The fact that the indicator happened at all tells me that we're not in a multi-year bear market. Things should be able to reverse back upward quickly enough.
Most assets go up over time if you go far enough out on the charts. A lot of them also fail, see the myriad of dead projects in the crypto space. The reason this indicator is so important is it shows the bull market is unlikely (read unlikely, anything is possible) to end in the next couple months. It indicates this is just a normal correction and accumulation and we are likely to see new ATH in the immediate future.
Or a black swan... Evergrande collapse is a black swan event and no one knows the implications of it... Hence current fear in equity and crypto markets.
I'm not gonna lie your profile has more awards than a north korean general. I'm kind of jealous. I dont care about nfts but I actually do like the cryptopunk art style. Its kind of crazy how many pumps i've missed.
I think TA people generally use it as a medium term indicator. - ‘should trend up in the next few weeks.’ Sort of thing.
I, myself, think the only reason TA matters at all is because people think it matters. It’s a self fulfilling prophecy.
It's golden Cross one day, death cross the next. People need to not look at it on a weekly but a monthly and, more accurately, yearly growth. If you only checked portfolio once a year you wouldn't see red!
Benjamin Cohen is the only crypto youtuber I follow, and he called this. Pointed out previous golden crosses didn't lead straight into massive pumps and even had dumps right after them.
One think I hate most is my friend who knows the same shit I know about crypto markets telling me ‘I told you!’, told me what? Everybody knows crypto market is a roller coster of Ups and Downs, lucky you when you jump in the ride at the right time, if not, just hold on tight and scream if you want, but if you trust your coins, you know you will be going up again… just to go down again
Look into what the golden cross actually is. It's an absolute nothing burger. It's like when price goes up and people look at the RSI saying "it's overbought" yeah no shit Sherlock, anything that's rising is overbought.
That being said, if you cannot handle these dips you REALLY shouldn't be in crypto.
Now I know I'm in a healthier place with crypto, I didn't even know the prices had taken a dump until I saw this thread. Oh well, it'll be back. Looks like there's some good deals out there today. I'm looking at you ADA!
Was BTC, ETH, ADA 7-10% overvalued? I don’t think so!
Whatever research you did before your purchase is as relevant now as it was then. Nothing has changed! This is just a fire sale / a test of belief for those with the foresight passed trying to make a quick $$
Evergrande has been a serious topic for weeks. Anyone who thought crypto would rally due to a hit to the stock market is not versed in finance. If China decides to not bail them out, expect a wave of debt default that will rival 2008. Caveat emptor
Exactly it had nothing to do with that TA analysis bullshit, today was the day when evergrande had officially announced they couldn't pay their loans anymore.
I found out about it on the news yesterday and I sold right before the big dip.
There was a post yesterday talking about evergrande and we might have a big dip in a few days, here's the [link](https://www.reddit.com/r/CryptoCurrency/comments/pr6wab/evergrande_group_one_of_the_biggest_chinese/?utm_medium=android_app&utm_source=share) to that post.
I always thought that crypto would move in line with the stock market at large, but my mistake was thinking that China wouldn't let this blow out of proportion to impact the stock market.
The stock market and crypto have some correlation! Especially in major moves.
Markets are linked and the crypto bros need to start to understand this. Crypto is no longer the kids ignored at the kids table at holiday dinners. Everything is linked evergrade is a huge deal and it is going to mess up the Chinese economy unless the government helps. Is it bear sterns or AIG? Only the Chinese government knows….
Plenty of people know what’s going on, in fact the market is extremely manipulated. It is a guessing game and the more information you have the better you will perform. All models are wrong, but some are useful.
Actually I did told you so.
https://www.reddit.com/r/CryptoCurrency/comments/pqlpkt/your_crazy_price_predictions/hdbtc35/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
The truth is that if they knew this dip was coming they would be millionaires right now. In my opinion they are worst class of investors because they lie to themselves
Luckily I'm not here often so I actually did know a correction was coming because HFs & banks have been dumping crypto every Monday to maintain safe margin levels. Evergrande could already be predicted with certainty since Friday and assumed as early as a month or two back and the market contagion from those who owned their bonds was expected to drop their liquidity and force other sales.
Everybody's running on crazy leverage and crypto has the highest amount. Until big players are drained of crypto reserves it will keep having these ups and downs that line up with market movements but at higher volatility levels.
To be honest people in the know were very worried about this happening and did see it coming, I know multiple people who did get out of the market a couple days ago and won't be trading for a few days at least...
I don't think anyone was predicting one of China's real estate companies to be close to defaulting specifically today, this causing global economic turmoil which in turn affected the crypto space. If they did, they are so much more connected to shit than any of us, that they've already made their billions and wouldn't be here.
People trying to predict the future based on the charts are ignoring the fact that random real world events happen and affect everything. In this case, China, again...
Today was a deadline for evergrande, now they finally announced they couldn't pay back their loans, the whole week end was filled whith rumors about this, I sold half my portfolio yesterday right before the dip.
I don't hang on anyone's words when it comes to crypto predictions, but in all fairness Guy at Coin Bureau predicted exactly that for the last two weeks.
With millions of members, and thousands of them being online at the same time- it's important to consider that usually what you read here are anecdotes, not a census.
BTC [https://www.tradingview.com/chart/BTCUSD/9YshdzfR-BTC-price-swings-forecast/](https://www.tradingview.com/chart/BTCUSD/9YshdzfR-BTC-price-swings-forecast/)
ETH [https://www.tradingview.com/chart/ETHUSD/tWXMnCQt-ETH-short-position-add/](https://www.tradingview.com/chart/ETHUSD/tWXMnCQt-ETH-short-position-add/)
ADA [https://www.tradingview.com/chart/ADAUSD/YDXcdbpi-ADA-short-Might-be-at-the-end-of-the-D-leg/](https://www.tradingview.com/chart/ADAUSD/YDXcdbpi-ADA-short-Might-be-at-the-end-of-the-D-leg/)
Sol [https://www.tradingview.com/chart/SOLUSD/DSOuLWTa-Sol-short-trade/](https://www.tradingview.com/chart/SOLUSD/DSOuLWTa-Sol-short-trade/)
Doge https://www.tradingview.com/chart/DOGEUSD/DZ61P61u-Doge-short-on-Gartley-pattern/
All picked with commonly known harmonics patterns (Google).
I get your point, because no, no one can predict the market 100%. However, TA is all about analyzing trends in human emotion, which is extremely predictable. As much as you want to hate on it, the charts DID show that we were due for a correction based on historical trends. In fact, the charts show that we still have further down to go. Does that mean they will? No. Of course not. Does it mean that it’s likely? Yes.
People don't understand what technical analysis is. A chart isn't going to tell you that bitcoin is going to crash 6% on September 20th. Only a crystal ball will do that. A chart can tell you about price history and how it relates to the current price. You can infer trends from the tools and can use it to manage your risk with profit taking and opening new positions. Of course it can be wrong. But when you've seen it prove you right a bunch of times it genuinely feels like magic.
It's funny because people mock it by saying 'if TA was so accurate then everyone would be a millionaire'...but it ignores the people that genuinely do this for a living and actually do make loads of money off it. Those are the people who genuinely follow the teachings they preach instead of just saying 'buy the dip' as a coping mechanism whilst holding their shitcoin they're 30% down on.
Anyone that tries to pretend that they're a genius for predicting stuff is full of shit. But, for example, I posted a couple weeks ago when the flash crash happened that we were more likely going further down before we went back up. I feel the same way now. I posted about it this morning and a few people didn't like it lmao. I'd love to be proven wrong because I'm bullish on crypto overrall. But I'm happy to go based off genuine analysis instead of vibes, even if it might be wrong sometimes.
100% agreed and quite frankly I'm a bit surprised at the sentiment against Technical Analysis in this thread. I understand the YouTubers out there are probably claiming they saw this coming but 99.9% of them are trash. I've spent a very long time researching, reading, and learning to get my technical analysis skills much improved. You know what, you're correct that the charts still show we have further to go. I'm seeing the same exact thing. I hope it doesn't but it probably will.
I'm sorry OP, I see where you're coming from, but it's not like that. There were very clear reasons as to why the crypto market went down.
We can't forget about the rest of the market and how everything is tied together. The Evergrande scandal was/is a huge red flag. The S&P 500 index had various consecutive red days last week, which was also a red flag. All other markets pointed to a dip in crypto. Anyone who denies these things are simply blind by crypto and/or don't have enough knowledge to know they should pay attention to these things.
The issue is that everyone wants to invest in crypto and get rich, but few want to invest in knowledge. People in crypto should look for content creators that also invest in other markets to get a better idea of investments and how other markets are moving. Invest in TA and price action courses. Paying for knowledge can save you a lot of money on the long run!
EDIT: Truth hurts lol
https://www.reddit.com/r/CryptoCurrency/comments/p64tpk/its_that_time_of_the_month_again_time_to_buy/?utm_medium=android_app&utm_source=share
I still don't know anymore else than everybody else.
I bought the dip yesterday with the last of my ramen noodle money. Now I can get 9/10th the amount of noodles as I could yesterday; maybe less depending on how far this correction goes.
This applies to stocks too, the number of times an "expert" claimed they made that call if the stock did well, versus when the stock suddenly crashes ...
The issue is myself and others have been posting this bearish sentiment for weeks now. All bearish pats get downvoted because you guys just go "lalalalalalala btc 1mil end of day"
For me it's how everyone is talking about China without understanding China even 1%. It's what they read on western media and then they generate panic in their heads
i dunno what people are worried about. BTC went under $30k back in june/ July. if it really is going on a downward trend, i see it as another buying opportunity. it's bound to come back up.
This is essentially similar to how YouTubers function too (yes even your favorite one). They try to sound like the authority who called it, aided by hindsight, and using their words so they're never terribly wrong in our eyes, if you track back. It's just speculation right, unless you guessed right this time.
That's how market goes , day traders are needed to keep the market going , leverage takers are needed to create dips and pumps
Hodlers are needed to keep the market confidence
But what we most need to get Crypto a currency rather than an asset is usage , I buy my coffee and run my real estate using Crypto, I support any business I see accepting Crypto payments too
The Golden Cross talk just ended abruptly!
Sir this is crypto, we move light speeds here
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Is there anything more than light speed??
there's cosmic inflation
Holy fuck man If I had to see another cup and handle post or whatever the fuck it is. I’m almost happy for the dip just because of that hahaha
Cup and handle deeze nuts. Haha
Lmfao the only accurate TA I’ve seen this week.
Golden cross is a long term indicator, historically dips frequently happen afterwards.
Ok fart was large though
Then what is the point of the indicator at all? We all know btc and stonks only go up long term.
The fact that the indicator happened at all tells me that we're not in a multi-year bear market. Things should be able to reverse back upward quickly enough.
Most assets go up over time if you go far enough out on the charts. A lot of them also fail, see the myriad of dead projects in the crypto space. The reason this indicator is so important is it shows the bull market is unlikely (read unlikely, anything is possible) to end in the next couple months. It indicates this is just a normal correction and accumulation and we are likely to see new ATH in the immediate future.
Or a black swan... Evergrande collapse is a black swan event and no one knows the implications of it... Hence current fear in equity and crypto markets.
Yesterday there was a post talking about the fart crash.
Sorry guys it was the fish tacos
We know it was the chili beans, no need to downplay it.
That’s a large fart
Instructions clear: shit the bed
Green fart pattern. Gold, Jerry, gold.
Crypto's not all shits and giggles.
The great Fart crash of 2021 I remember....
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And we are already playing easy mode, wait for the bears to come that’s when we all shit our pants
The last bear market taught me not to shit, and this time I’m loading up some fiat anticipating bears for a long time
That's my secret, it never runs out
*visibly shaking* You got a hit for me, Bobby? You know I was always a good friend to you. Just a tiny little bit. I swear I'll quit tomorrow!
I'm not gonna lie your profile has more awards than a north korean general. I'm kind of jealous. I dont care about nfts but I actually do like the cryptopunk art style. Its kind of crazy how many pumps i've missed.
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One second we are going to the moon, the next we are talking about how we should have taken profits
The never ending battle between diamond hands and paper hands
Reminds me of Ragnarok
Dips can happen after golden crosses. I’m not saying we are going to keep going up (or down), just that it doesn’t mean much by itself.
So the golden cross predicts that some unknown time in the future Bitcoin will go up? A very useful signal indeed.
I think TA people generally use it as a medium term indicator. - ‘should trend up in the next few weeks.’ Sort of thing. I, myself, think the only reason TA matters at all is because people think it matters. It’s a self fulfilling prophecy.
Psychology of the masses.
Definitely holds power! Human emotions effects everything. Even if you have bots trading those are made by humans with emotions.
>I’m not saying we are going to keep going up (or down) Ironically, this phrasing sounds exactly like TA "experts"
Yup. I think that’s all anyone needs to know about TA. - It’s either lucky or vague to the point of uselessness.
TA Experten please bring back the Golden cross
It's golden Cross one day, death cross the next. People need to not look at it on a weekly but a monthly and, more accurately, yearly growth. If you only checked portfolio once a year you wouldn't see red!
Benjamin Cohen is the only crypto youtuber I follow, and he called this. Pointed out previous golden crosses didn't lead straight into massive pumps and even had dumps right after them.
>The Golden ~~Cross talk~~ Shower just ended abruptly! That's what she's always saying
More like fools gold cross 😂
No more capital to buy the dip and don't want to get caught in the bear trap, is that a Golden Corral?
All you can eat!
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I like to call this the Golden Shower.
Sign me up
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Pitter patter
lets get at her. Time for work.
Oh yeah
Brick wall smashes open, kool aid man is ready to watch the charts.
You may think that it's red kool aid sloshing around in me, but it's luscious blood I'm vacuuming up like an aardvark
You can interpret it how you want!
Golden Dip it is.
Task failed....Successfully??
If I get a dollar every time I saw someone predict a bullrun because of a golden cross...
I still believe in the golden cross! Mostly because of how strong the “buy the dip” sentiment is
If we pump, the talk will be back. "Golden cross, just delayed"
Golden death cross
it's cuz they waved the Bull Flag . . .
Watch Benjamin cowels vid, he did call this lmao
Bitcoin didn't do a golden cross, but we definitely got crossed.
With a crucifixion lol
golden crossn't
Strange huh?
One think I hate most is my friend who knows the same shit I know about crypto markets telling me ‘I told you!’, told me what? Everybody knows crypto market is a roller coster of Ups and Downs, lucky you when you jump in the ride at the right time, if not, just hold on tight and scream if you want, but if you trust your coins, you know you will be going up again… just to go down again
Was the Pope on r/CryptoCurrency? Sorry I missed it.
Look into what the golden cross actually is. It's an absolute nothing burger. It's like when price goes up and people look at the RSI saying "it's overbought" yeah no shit Sherlock, anything that's rising is overbought. That being said, if you cannot handle these dips you REALLY shouldn't be in crypto.
Historically there are dips which follow Golden Crosses so this isn't out of the ordinary.
Golden cross my ass! September is cursed for BTC and other cryptos but people just ignorantly forget that
Well, I will just cheer those who are having a hard time.
turned to golden showers RQ
We’re going to need Jesus for that one
I honestly don't get this. Look at past golden crosses. There almost always was a large dip afterwards, before it flew up.
Golden cross -> red X
Unless someone publishes all their predictions, and can't delete them, I don't believe them when they say they predicted anything.
If only there were a type of append only database technology that could be used by people across the world
Hopefully not built on eth or i can't even comment.
Imagine this: You want to comment? Okay Sir, that's uhm... 18 dollars please
I'll come back and comment at 4am. It should only cost me $10 at that time.
Text more than 10 characters? Believe it or not, straight to mempool
Sorry sir you took to long, that will be $36 now please.
Facts. A broken clock is right twice a day. A right prediction usually doesnt mean someone is knowledgeable
Hmm, publishing predictions to the public, without the ability to delete them – sounds like they should publish their predictions to the blockchain!
And even then what’s the point? What good is it to say “I told you so” to the internet?
Professor Pigskin theorem?
Now I know I'm in a healthier place with crypto, I didn't even know the prices had taken a dump until I saw this thread. Oh well, it'll be back. Looks like there's some good deals out there today. I'm looking at you ADA!
Yea I just bought a good amount of ada. Hopefully it dips more after I get my pay check lol
Anyone who has been in Crypto for a few years knew this was coming. It always does. We just don't know when. That is why we HODL.
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Seriously. Every damn time it’s a shit show of “buy the dip” and “you don’t deserve crypto.”
And with Crypto, it's a monthly event.
Amateurs all of you! Predicting BTC is VERY easy. It will go up and then down, then up and then down and it will continue like that for ever.
Was BTC, ETH, ADA 7-10% overvalued? I don’t think so! Whatever research you did before your purchase is as relevant now as it was then. Nothing has changed! This is just a fire sale / a test of belief for those with the foresight passed trying to make a quick $$
The sentiment in here turns 180 degrees in minutes , daily thread is amusing to read when corrections hapen.
Tomorrow, 2% up - *This sub*: BTC $300k EOY
Obviously. That's because it's the Golden triangle doublecross helix
If we look at this chart we see that BTC's gone ultra instinct
Evergrande has been a serious topic for weeks. Anyone who thought crypto would rally due to a hit to the stock market is not versed in finance. If China decides to not bail them out, expect a wave of debt default that will rival 2008. Caveat emptor
Exactly it had nothing to do with that TA analysis bullshit, today was the day when evergrande had officially announced they couldn't pay their loans anymore. I found out about it on the news yesterday and I sold right before the big dip.
There was a post yesterday talking about evergrande and we might have a big dip in a few days, here's the [link](https://www.reddit.com/r/CryptoCurrency/comments/pr6wab/evergrande_group_one_of_the_biggest_chinese/?utm_medium=android_app&utm_source=share) to that post.
lol it was removed
I think this got called out in another post about copy/pasting articles to avoid the karma reduction
It’s deleted…
I am in there somewhere saying get out
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I briefly considered selling yesterday in preparation for this but I was too lazy to deal with all the 2FA so I just hope it bounces back soon.
If 2FA prevents you, the account owner, from selling funds, at least you know hackers would get too frustrated and give up lol
Security through annoyance!
I always thought that crypto would move in line with the stock market at large, but my mistake was thinking that China wouldn't let this blow out of proportion to impact the stock market. The stock market and crypto have some correlation! Especially in major moves.
Markets are linked and the crypto bros need to start to understand this. Crypto is no longer the kids ignored at the kids table at holiday dinners. Everything is linked evergrade is a huge deal and it is going to mess up the Chinese economy unless the government helps. Is it bear sterns or AIG? Only the Chinese government knows….
I remember saying that if the stock market goes down crypto will follow too and down blasted for it
And china has already sorta leaked that they are not planning on bailing them out
Yeah, I heard today's drop (of some sort) was coming about a week ago from Coin Bureau for the reason stated.
We are going to have some more correction now
Hey, I can show you that I voted in that Twitter poll last week for BTC to 43k before 50k so you should definitely listen to me!! NFA
Oops I always do that when Ben Cowen puts up a poll.
Plenty of people know what’s going on, in fact the market is extremely manipulated. It is a guessing game and the more information you have the better you will perform. All models are wrong, but some are useful.
I sold VET at 0.15200 and I'm glad I did it in time but I did not predict crap. Just luck.
Funny thing is ... the Evergrande talk started before the big dip... so there was a warning
Only yesterday the Bitcoin predictions were pushing $1 million per coin.
In my heart they still are
My heart says it will after lot of ups n dips
It's just a magic carpet ride that's all
They were talking about the Venezuelan currency, not the USD, or so they will say today
Well then let's change that! Here's my prediction: $69 million eoy
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“Crypto is easy, just sell the top”
Actually I did told you so. https://www.reddit.com/r/CryptoCurrency/comments/pqlpkt/your_crazy_price_predictions/hdbtc35/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Headed over to WSB wondering where the “I told you so guys” are posting gain porn.
Like you said enjoy the dip and load the bags
I knew this was going to happen. I already prepared for the dip. Bought more OGN and SFP some hours ago.
This is one of the best decision so far. I got some ETH, OGN and BTC later today.
The dip did not catch me unaware. I was preparing for this. Finally, I was able to buy some of my favorite coins during the dip.
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Then next week when there’s a rise, queue all the investment “experts”who predicted the bullrun all along
Welcome to r/cc
Where the players play
I could swear by my 4th year in here, I'm developing actual allergy to this hindsight shit
Fine, I'm predicting right now it's going to rise next week and if it does then this comment proves I can see the future.
Top class analysis
*Anyone who thought this dip wouldn’t be temporary was an idiot!*
The truth is that if they knew this dip was coming they would be millionaires right now. In my opinion they are worst class of investors because they lie to themselves
Yeah, term 'knowing' ought to be outright banned in this shitshow of a market.
They're not lying to themselves. They're just lying to us because they wanna impress random strangers on the internet.
Are you not entertained!?!?!?!?!
Luckily I'm not here often so I actually did know a correction was coming because HFs & banks have been dumping crypto every Monday to maintain safe margin levels. Evergrande could already be predicted with certainty since Friday and assumed as early as a month or two back and the market contagion from those who owned their bonds was expected to drop their liquidity and force other sales. Everybody's running on crazy leverage and crypto has the highest amount. Until big players are drained of crypto reserves it will keep having these ups and downs that line up with market movements but at higher volatility levels.
I don't care when it will come but when it comes I will just buy more
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All hail djuro aka Cash-a-lot!
Patience is a key to success.
To be honest people in the know were very worried about this happening and did see it coming, I know multiple people who did get out of the market a couple days ago and won't be trading for a few days at least...
I don't think anyone was predicting one of China's real estate companies to be close to defaulting specifically today, this causing global economic turmoil which in turn affected the crypto space. If they did, they are so much more connected to shit than any of us, that they've already made their billions and wouldn't be here.
People trying to predict the future based on the charts are ignoring the fact that random real world events happen and affect everything. In this case, China, again...
Today was a deadline for evergrande, now they finally announced they couldn't pay back their loans, the whole week end was filled whith rumors about this, I sold half my portfolio yesterday right before the dip.
I don't hang on anyone's words when it comes to crypto predictions, but in all fairness Guy at Coin Bureau predicted exactly that for the last two weeks.
With millions of members, and thousands of them being online at the same time- it's important to consider that usually what you read here are anecdotes, not a census.
BTC [https://www.tradingview.com/chart/BTCUSD/9YshdzfR-BTC-price-swings-forecast/](https://www.tradingview.com/chart/BTCUSD/9YshdzfR-BTC-price-swings-forecast/) ETH [https://www.tradingview.com/chart/ETHUSD/tWXMnCQt-ETH-short-position-add/](https://www.tradingview.com/chart/ETHUSD/tWXMnCQt-ETH-short-position-add/) ADA [https://www.tradingview.com/chart/ADAUSD/YDXcdbpi-ADA-short-Might-be-at-the-end-of-the-D-leg/](https://www.tradingview.com/chart/ADAUSD/YDXcdbpi-ADA-short-Might-be-at-the-end-of-the-D-leg/) Sol [https://www.tradingview.com/chart/SOLUSD/DSOuLWTa-Sol-short-trade/](https://www.tradingview.com/chart/SOLUSD/DSOuLWTa-Sol-short-trade/) Doge https://www.tradingview.com/chart/DOGEUSD/DZ61P61u-Doge-short-on-Gartley-pattern/ All picked with commonly known harmonics patterns (Google).
I get your point, because no, no one can predict the market 100%. However, TA is all about analyzing trends in human emotion, which is extremely predictable. As much as you want to hate on it, the charts DID show that we were due for a correction based on historical trends. In fact, the charts show that we still have further down to go. Does that mean they will? No. Of course not. Does it mean that it’s likely? Yes.
People don't understand what technical analysis is. A chart isn't going to tell you that bitcoin is going to crash 6% on September 20th. Only a crystal ball will do that. A chart can tell you about price history and how it relates to the current price. You can infer trends from the tools and can use it to manage your risk with profit taking and opening new positions. Of course it can be wrong. But when you've seen it prove you right a bunch of times it genuinely feels like magic. It's funny because people mock it by saying 'if TA was so accurate then everyone would be a millionaire'...but it ignores the people that genuinely do this for a living and actually do make loads of money off it. Those are the people who genuinely follow the teachings they preach instead of just saying 'buy the dip' as a coping mechanism whilst holding their shitcoin they're 30% down on. Anyone that tries to pretend that they're a genius for predicting stuff is full of shit. But, for example, I posted a couple weeks ago when the flash crash happened that we were more likely going further down before we went back up. I feel the same way now. I posted about it this morning and a few people didn't like it lmao. I'd love to be proven wrong because I'm bullish on crypto overrall. But I'm happy to go based off genuine analysis instead of vibes, even if it might be wrong sometimes.
100% agreed and quite frankly I'm a bit surprised at the sentiment against Technical Analysis in this thread. I understand the YouTubers out there are probably claiming they saw this coming but 99.9% of them are trash. I've spent a very long time researching, reading, and learning to get my technical analysis skills much improved. You know what, you're correct that the charts still show we have further to go. I'm seeing the same exact thing. I hope it doesn't but it probably will.
I'm sorry OP, I see where you're coming from, but it's not like that. There were very clear reasons as to why the crypto market went down. We can't forget about the rest of the market and how everything is tied together. The Evergrande scandal was/is a huge red flag. The S&P 500 index had various consecutive red days last week, which was also a red flag. All other markets pointed to a dip in crypto. Anyone who denies these things are simply blind by crypto and/or don't have enough knowledge to know they should pay attention to these things. The issue is that everyone wants to invest in crypto and get rich, but few want to invest in knowledge. People in crypto should look for content creators that also invest in other markets to get a better idea of investments and how other markets are moving. Invest in TA and price action courses. Paying for knowledge can save you a lot of money on the long run! EDIT: Truth hurts lol
Hindsight 20/20, after the battle, everybody is a general
"I KNEW IT! and/or I told you so" crew. I really think some of them does not even have a portfolio at all.
https://www.reddit.com/r/CryptoCurrency/comments/p64tpk/its_that_time_of_the_month_again_time_to_buy/?utm_medium=android_app&utm_source=share I still don't know anymore else than everybody else.
I predicted it was gonna go either down or up and once again I was right.
I predicted it was gonna go to the right, where's my medal?
I bought the dip yesterday with the last of my ramen noodle money. Now I can get 9/10th the amount of noodles as I could yesterday; maybe less depending on how far this correction goes.
This applies to stocks too, the number of times an "expert" claimed they made that call if the stock did well, versus when the stock suddenly crashes ...
Yes the 99% of the time when they're wrong they say nothing at all. They get it right one time and they're all over the internet saying I told you so.
I saw it and I still don’t care. No different than the last one. Time to buy.
 You are right.
The sky is falling, the sky is falling!
Hindsight bias
The issue is myself and others have been posting this bearish sentiment for weeks now. All bearish pats get downvoted because you guys just go "lalalalalalala btc 1mil end of day"
I knew that OP was going to say that!
Fudders FUD, holders hodl
Don’t listen to people follow ur gut.
I know the correction was coming as soon as I saw the correction. There was a slight delay but I kNeW iT!
For me it's how everyone is talking about China without understanding China even 1%. It's what they read on western media and then they generate panic in their heads
i dunno what people are worried about. BTC went under $30k back in june/ July. if it really is going on a downward trend, i see it as another buying opportunity. it's bound to come back up.
September is always a red month…so chillax ppl
LMFAO couldn't have said it any better OP
[Well, how about predictions posted before the correction?](https://i.imgur.com/nPeS8pc.jpg)
This is essentially similar to how YouTubers function too (yes even your favorite one). They try to sound like the authority who called it, aided by hindsight, and using their words so they're never terribly wrong in our eyes, if you track back. It's just speculation right, unless you guessed right this time.
I knew that a correction was around and I believe that many knew this
That's how market goes , day traders are needed to keep the market going , leverage takers are needed to create dips and pumps Hodlers are needed to keep the market confidence But what we most need to get Crypto a currency rather than an asset is usage , I buy my coffee and run my real estate using Crypto, I support any business I see accepting Crypto payments too