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Message Subject
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Crypto bottoms when we have our next "world event" similar to covid pandemic
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Poster Handle
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Lady Jane Smith |
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Post Content
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One more thing, we have a tweezer top on the 4 hour candles. That is bearish.
Note to noobs: We do not have crystal balls, and anything can happen. No such thing as a risk free trade.
Quoting: Lady Jane Smith A "tweezer top?" WTF is that, already? I'm a technical kinda guy, and have never heard of that. It sounds kinda gay, to be honest!  a tweezer top is a two candle pattern where there is a localized high with a candle close. the following candle, upon the open, goes to the high of the previous candle (the wick) and decides to reject exactly at the same wick. if you look at it, it looks like two side by side identical candles with the same top. It kind of looks like a pair of tweezers, hence the name. cashflow don't care so much about "technical analysis". the miners can't pay BTC's electricity costs. the new belief seems to be that "miners will consolidate" as they go bankrupt and somehow something magical will happen so the remaining miners can somehow pay everybody's bill instead of just their own and then BTC will skyrocket to new highs. You are correct, techincal analysis does not cover all contingencies. It is just one tool, but not a crystal ball. That said, we have before seen the massive rout of miners, but BTC recovered. It took a long time, and it languished in a small range during that time, but it did make for day trading opportunities.
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