View: slopechart_$ALGO.jpg


Outside of seasonality, I have not been exposed to the concept of time within technical analysis very often. I guess Team Elliot Wave likes their forward looking Fibs based on time with both lines and circles, but after puttering around with that here and there I have yet to experience an earth shattering moment. 

I was looking at the Bitcoin chart yesterday for probably the 8 billionth time, give or take a few million, and I was feeling some weird emotion bordering on frustration because that thing has just been doing a weird meandering sideways thing for about 2 months. I am kind of a bad trader, and I want to see some absolutely in your face, LOOK HERE RETARD, kind of a move for me to make up my mind, because those seem to work well for me. 

The whole crypto market kinda looks like that to me right now, with a few exceptions, but I think the exceptions are just behind, and will do the same meaningless meandering here soon enough. Or perhaps just crash. 

And then I started mousing over each candle for

Image added via SlopeCharts


That's why I simply use price for TA. Fibs, EW, indicators, etc are garbage. As for cryptos I have an indexing approach and have a basket of BTC ETH ADA DOGE. Currently patiently waiting for sub 25k BTC to add to all 4. Yes it has been frustrating because it's not cracking fast. I may be the only one here doing this because my time horizon is long and I seek 10x gains, not a few percent here and there. Also I fully embrace not knowing what will end up happening with cryptos. My theory: Millennials and younger people love it and want to own it at least as a small % of assets. It is private money, free from central bank fuckery. The trend is toward private everything. The common working man is fucked. 7/9/21
The Vulcan Sloper akaGrinThe Vulcan Sloper akaGrin
@Riskcap, Do you own any PMs? 7/9/21
I don't own any PMs. I do not want to guard them or pay for safe storage. I'd rather own more real estate than any type of commodity. Also, gold is a very mature market. Crypto is an emerging asset class. 7/9/21