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by noofen 1851 days ago
It's genuinely concerning how 1:1 the Wyckoff pattern is for BTC at the moment [1].

[1]: https://www.youtube.com/watch?v=Lhf_2gJJS1I

1 comments

That was a month ago and it has since diverged, the same youtuber is performing even more mental gymnastics to try to explain the divergence
As anyone who was around to see the advent of “crypto TA” c. 2012 can attest, TA in the Bitcoin space started out as quantitative-themed narrative pumping, and it remains so to this very day. Crypto TA chartists self-promote and advertise coins in a furtive attempt to bolster speculation. They can then point to “trading volume” and speculation-fueled transactions to further boost perceptions of credibility — “$X zillion dollars were settled on this blockchain I’m invested in”.
He mentioned pretty early that he bought at 60k. hindsight 20/20 I guess.