REPLY To NO 1 Ranked Chart: Your Coke vs BTC Comparison is Wrong
First let me stress, that this is NOT MEANT to bash the author of the right now no 1 trending charting on TradingView, where he argues for a huge BTC-drop with comparing BTC with Coca-Cola. This is ONLY for educational purpose, and to illustrate, how we human are evolved to see patterns everywhere - also where there might be NONE.
And the reason for that is, that its a clever evolutionary trait we humans have, cause it could mean between LIFE or DEAD 10,000 years ago. Are there a dangerous animimal hiding in the bush or not - its better to go with more safe approach, and believe there might be something there. Anyway, here is his chart.
2 Different Charts Suddenly
This is the exact same chart - but because he has drawn his lines differently from me, and have focused on other things that I have, they almost look completely different. And it should be obvious, that when you look at his chart its very easy to be misled to think, that we will see a huge dump soon.
On the other hand, you will probably get a competely different view on BTC, and will most likely believe, that we will continue our parabolic Bull Run if you see my chart.
Why I believe MY chart is more valid
1. We had no obvious accumulation at the Coca-Cola chart. We did on Bitcoin.
2. We had a LOT of selling pressure in the same period on KO - We havent seen that on BTC
3. The Price Volume Trend Convergence is significant bigger in BTC compared to KO
4. We had NO prior Price Volume Trend DIVERENCE in the downtrend on the Cola Chart - We had that on BTC
5. The Parabolic Movement is 3 times stronger than on the Cola-chart
6. The Bullish Momentum is by far more present in BTC than it was in Coca-Cola back then.
Once again. This is NOT meant to go after the player. Im going after the ball, and I think I have proven with these charts my point.
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D4
And the reason for that is, that its a clever evolutionary trait we humans have, cause it could mean between LIFE or DEAD 10,000 years ago. Are there a dangerous animimal hiding in the bush or not - its better to go with more safe approach, and believe there might be something there. Anyway, here is his chart.
2 Different Charts Suddenly
This is the exact same chart - but because he has drawn his lines differently from me, and have focused on other things that I have, they almost look completely different. And it should be obvious, that when you look at his chart its very easy to be misled to think, that we will see a huge dump soon.
On the other hand, you will probably get a competely different view on BTC, and will most likely believe, that we will continue our parabolic Bull Run if you see my chart.
Why I believe MY chart is more valid
1. We had no obvious accumulation at the Coca-Cola chart. We did on Bitcoin.
2. We had a LOT of selling pressure in the same period on KO - We havent seen that on BTC
3. The Price Volume Trend Convergence is significant bigger in BTC compared to KO
4. We had NO prior Price Volume Trend DIVERENCE in the downtrend on the Cola Chart - We had that on BTC
5. The Parabolic Movement is 3 times stronger than on the Cola-chart
6. The Bullish Momentum is by far more present in BTC than it was in Coca-Cola back then.
Once again. This is NOT meant to go after the player. Im going after the ball, and I think I have proven with these charts my point.
Please leave a LIKE!
D4
Also when BTC drops, we have instanly Bulls to buy it up. I also want you to take a look at the volume. We have Record high volume in BTC. At the Cola-chart it's not significant bigger than the MA20 Volume.
Lastly. Please take a look at that perfect, green Histogram on Bitcoin. This is a completely different scenario, and I think its very few traders who are aware of HOW STRONG this attack from the BTC-Bulls are.
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