Just a very quick TA for a quick comparison between Litecoin 2018 Usd crashing pattern, sharing extreme similarities with 2015 Btc usd crashing pattern from the MtGox crash pattern. This is the first time i found such a close similar bubble crashing pattern between two different assets, and i actually find it very interesting regarding human mass behaving on markets. This could be a proof that virtual gold and virtual silver are following the same trading importance for buyers, but with a difference on time scale: modern virtual silver is as much as important as virtual gold used to be few years ago. This means there is a progress of consideration regarding virtual assets: today's Btc crashing pattern is different than the current Ltc crashing pattern and than the 2015 Btc crashing pattern. Cryptocurrencies existance consideration is evolving in its patterns (humans are starting to realise the potential of cryptocurrencies better and better with time). I hope this is not too complicated to understand.
As I see it, people always act the same way. This is because of the feeling we have when it goes up. We go like... It's going up! I'm going to buy. Now, I think it has grown a lot. What if it falls now? I'm going to sell. Wait! It's up again, I'm going to hold for a while. Okay, now it's enough. I'm gonna sell. Everyone sells and it goes down.
I think our brain triggers a response and make people buy or sell at certain prices, and that makes people repeat their actions.
Feelings like dare or fear make us act similar in time and it's going to be this way til humans evolve in the future.And it's going to be gradually, and will take thousands of years.
Now, we can enjoy and learn from the past.
Andbcoin
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I didn’t see it but all cryptos charts and how they behave after a big pump.
However, I thought it was impossible to happen. It’s like... you know it’s going down but you change your mind after seeing all the posts here in TradingView saying it goes up.
Why do they do it? I was convinced it would fall below $100, but if you say that in a post, you’re dead.
Giovi6969
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@Andbcoin,
Some popular TA posters here are new comer millenials, posting TA for fun, they became popular for their analyses, not for their trading signals.
I saw some other TA posters that are real traders beeing in the denial of a bubble bursting, which is dangerous as they can give over bullish buy signals, that of course did not happen because Btc is a crashing bubble market.
Sometimes you have to listen to yourself and not be influenced by what you read. Have a look at the Btc bubble pattern since a year if you doubt about your thoughts, you will see that it is impossible for Btc to randomly grow up and raise in the middle of a bursting process, as it never, never never happened in the history of economics.
Andbcoin
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@Giorgioversace, Totally agree. I'm a millenial as well, tbh. But common sense will tell you the truth. After going up heavily, it has to do the same but the opposite way.
I don't know why they want it to go up, up, up. It's better it to retrace and get the power to grow up again.
I like trading, not holding, and that's why I don't like it to go up wildly but have a reasonable price. And this is a good opportunity to get in again once it goes down below $100.
Giovi6969
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@Andbcoin,
They don't want it to go down too much because they bought some parts when it was around a range of 13.000$ - 15.000$.
I think traders like Goldbug made his buyers buy some Btc at around 14k in the midst of the crashing pattern... as a long term investmen.
I really hope for them that Btc will raise again, but this might take a very long time.
Andbcoin
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@Giorgioversace, I said the same in some posts. They bought coins when they were touching the sky, and now that they are losing money, want people to buy so they can sell their bags.
But I don't want to say it again because I was treated like rubbish in these posts.
Well, I don't want people to lose money, but this world is the way it is and if you don't want to lose, just don't play this risky game.
Giovi6969
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@Andbcoin,
Lol.
On January i was warning of a possible Btc drop below 10k, 8k, and gave targets of 5.500$.
People was bashing me, "its impossible that Btc goes below 10k, support is too important", "8.000? youre crazy its not possible, miners will mine with losses".
It's the same as you say, human psychology
Andbcoin
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@Giorgioversace, Hahaha. Same as me.
I said BTC was going to $5000 - $6000. They said to me it was impossible and said I was a noob in this world. And yes, I was in fact, but my predictions weren't that crazy. Everything that goes up, has to go down in the same direction.
Btw... How did you get this BTC chart? I've tried to find it on TradingView and other websites and there's no data available. They all cut the chart when I scroll back to 2016.
Is it TradingView?
Giovi6969
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@Andbcoin,
Yes it's tradingview.
Try to use 4hour candles, and select a time of "5 years", or All"
Andbcoin
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@Giorgioversace, Thank you so much. I'm going to try it.
Nice to see great analysts in Tradingview.
You've got a new follower. ;)
I think our brain triggers a response and make people buy or sell at certain prices, and that makes people repeat their actions.
Feelings like dare or fear make us act similar in time and it's going to be this way til humans evolve in the future.And it's going to be gradually, and will take thousands of years.
Now, we can enjoy and learn from the past.