Mr. Anderson Profile picture
Oct 12, 2022 6 tweets 4 min read Read on X
#BTC RSI Weekly

#Bitcoin managed to complete its typical #CryptoWinter Full reset on the Weekly Scale RSI

RSI Weekly hit 25 in revisiting a previous top that carried a reading of 90 on the weekly scale at that time

We can see some Bull Divs have shown up recently as well Image
#BTC Weekly

Of course, we have seen this before with #Bitcoin as it has made a habit out of resetting 90+ to sub-30 on the weekly scale Image
#BTC Weekly

The previous two occurrences have been perfect bottoms. We will need time to find out if the third opportunity nets us the same precision Image
#BTC Weekly

However, these resets are what allow us to dream of far bigger numbers as HTF RSI resets are most common in Big Accumulation phases Image
The Weekly TF will take months to show its hand

We can dive into the Daily for some clues

Typically, we will see momentum before price which signifies the ongoing "attempt"

However, each attempt has been rejected at/near RSI-60, displaying the Bear's control of the Range Image
We have seen these RSI rising bottom formations in which the Bulls struggled to take back "some" control until breaking that RSI-60 level

Bulls currently need that initial Daily scale break of 60 on-close to apply some real pressure to the Bears and set some traps of their own Image

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Mr. Anderson

Mr. Anderson Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @TrueCrypto28

Jul 26
"6 Stages Of A Trader"

If we are to become great traders, we will experience some variation of all six of these stages.

Being aware of these stages can help you identify where you are now and where you need to eventually be.

(Which stage are you currently at?)

Stage One of the journey to become a Master Trader:

The Mystification Stage

This is where the neophyte trader begins.

He has little or no understanding of market structure. He has no concept of the interrelationship among markets, much less between markets and the economy.

Price charts are a meaningless mish-mash of colored lines and squiggles that look more like a painting from the MOMA than anything that contains information.

Anyone who can make even a guess about price direction based on this tangle must be using black magic, or voodoo.

However, as one begins to observe, read, and study, the mess may begin to resolve itself into something that may make sense. Sort of... 😉
Stage Two of the journey to become a Master Trader:

The Hot Pot Stage

You scan the markets every day. After a while (sometimes a good long while), you notice a particular phenomenon that appears regularly and seems to "work" pretty well.

You focus on this pattern. You begin to find more and more instances of it, and all of them work! Your confidence in the pattern grows, and you decide to take it the next time it appears. You take it, and almost immediately your stop is hit, and you're underwater for the total amount of your stop-loss.

So, you back off and study this pattern further. The very next time it appears, it works. And again. And yet again. So you decide to try again, and you take the full hit on your stop-loss.

Practically everyone goes through this, but few understand this is all part of the win-lose cycle.

They do not yet understand that loss is an inevitable part of any system, strategy, method, or other approach; there is no such thing as a 100% win approach.

When they gauge the success of a particular pattern or setup, they get caught up in the win cycle. They don't wait for the "lose" cycle to see how long it lasts or what the win/lose pattern is.

Instead, they keep touching the pot and getting burned, never understanding that it's not the pot (pattern/setup) that's the problem but their failure to understand that it's the heat from the stove (the market) that they're paying no attention to whatsoever.

So, instead of trying to understand the nature of thermal transfer (the market), they avoid the pot (the pattern), moving on to another pattern/setup without bothering to find out whether or not the stove is on.
Stage Three of the journey to become a Master Trader:

The Cynical Skepticism Stage

You've studied so hard and put so much effort into your trading and this universal failure in the patterns only when you take them causes you to feel betrayed by the market, the books and materials and gurus you tried to learn from.

Everybody claims their ideas lead to profitability, but every time you take a trade, it's a loser, even though the setups all worked perfectly before you played them.

And since one of the most painful experiences is to fail when success looks easy, this embarrassment is transformed into anger: anger at the gurus, anger at the vendors, anger at the writers, the seminars, the courses, the brokers, the market makers, the specialists, the "manipulators".

What's the point in trying to analyze and improve your trading when so many dark forces are out to get you?

This excuse-driven blame game is a dead-end viewpoint, explaining many of the things you find on message boards. Those who can't pull themselves out of it will quit.
Read 7 tweets
May 29
"6 Stages Of A Trader"

If we are to become great traders, we will experience some variation of all six of these stages.

Being aware of these stages can help you identify where you are now and where you need to eventually be.

(Which stage are you currently at?)

Stage One: The Mystification Stage

This is where the neophyte trader begins.

He has little or no understanding of market structure. He has no concept of the interrelationship among markets, much less between markets and the economy.

Price charts are a meaningless mish-mash of colored lines and squiggles that look more like a painting from the MOMA than anything that contains information.

Anyone who can make even a guess about price direction based on this tangle must be using black magic, or voodoo.

However, as one begins to observe, read, and study, the mess may begin to resolve itself into something that may make sense. Sort of... 😉
Stage Two: The Hot Pot Stage

You scan the markets every day. After a while (sometimes a good long while), you notice a particular phenomenon that appears regularly and seems to "work" pretty well.

You focus on this pattern. You begin to find more and more instances of it, and all of them work! Your confidence in the pattern grows, and you decide to take it the next time it appears. You take it, and almost immediately your stop is hit, and you're underwater for the total amount of your stop-loss.

So, you back off and study this pattern further. The very next time it appears, it works. And again. And yet again. So you decide to try again, and you take the full hit on your stop-loss.

Practically everyone goes through this, but few understand this is all part of the win-lose cycle.

They do not yet understand that loss is an inevitable part of any system, strategy, method, or other approach; there is no such thing as a 100% win approach.

When they gauge the success of a particular pattern or setup, they get caught up in the win cycle. They don't wait for the "lose" cycle to see how long it lasts or what the win/lose pattern is.

Instead, they keep touching the pot and getting burned, never understanding that it's not the pot (pattern/setup) that's the problem but their failure to understand that it's the heat from the stove (the market) that they're paying no attention to whatsoever.

So, instead of trying to understand the nature of thermal transfer (the market), they avoid the pot (the pattern), moving on to another pattern/setup without bothering to find out whether or not the stove is on.
Stage Three: The Cynical Skepticism Stage

You've studied so hard and put so much effort into your trading and this universal failure in the patterns only when you take them causes you to feel betrayed by the market, the books and materials and gurus you tried to learn from.

Everybody claims their ideas lead to profitability, but every time you take a trade, it's a loser, even though the setups all worked perfectly before you played them.

And since one of the most painful experiences is to fail when success looks easy, this embarrassment is transformed into anger: anger at the gurus, anger at the vendors, anger at the writers, the seminars, the courses, the brokers, the market makers, the specialists, the "manipulators".

What's the point in trying to analyze and improve your trading when so many dark forces are out to get you?

This excuse-driven blame game is a dead-end viewpoint, explaining many of the things you find on message boards. Those who can't pull themselves out of it will quit.
Read 7 tweets
Feb 10
So, you want to be a Technical Trader? 👇👇👇

1. Education & Knowledge:

Learn to understand the markets, various trading instruments, and methodologies. However, your ultimate goal must be Mastery.
2. Trading Plan:

Develop a comprehensive trading plan outlining your strategies, goals, risk tolerance, and evaluation criteria.
3. Risk Management:

Only risk a small percentage of your trading capital on a single trade.

Employ stop-loss orders to limit potential losses.

Understand and manage leverage carefully.
Read 14 tweets
Nov 13, 2023
"6 Stages Of A Trader"

If we are to become a great trader we will go through some variation of all 6 of these stages.

Being aware of these stages can help you identify where you are now and where you need to eventually be.

(Which stage are you currently at?)

Stage One: The Mystification Stage

This is where the neophyte trader begins.

He has little or no understanding of market structure. He has no concept of the interrelationship among markets, much less between markets and the economy.

Price charts are a meaningless mish-mash of colored lines and squiggles that look more like a painting from the MOMA than anything that contains information. Anyone who can make even a guess about price direction based on this tangle must be using black magic, or voodoo.

However, as one begins to observe, read, study, the mess may begin to resolve itself into something that may make sense. Sort of... 😉
Stage Two: The Hot Pot Stage

You scan the markets every day. After a while (sometimes a good long while), you notice a particular phenomenon which pops up regularly and seems to "work" pretty well.

You focus on this pattern. You begin to find more and more instances of it and all of them work! Your confidence in the pattern grows and you decide to take it the very next time it appears. You take it, and almost immediately your stop is hit, and you're underwater for the total amount of your stop-loss.

So you back off and study this pattern further. And the very next time it appears, it works. And again. And yet again. So you decide to try again. And you take the full hit on your stoploss.

Practically everyone goes through this, but few understand that this is all part of the win-lose cycle.

They do not yet understand that loss is an inevitable part of any system/strategy/method/what have you, that is, there is no such thing as a 100% win approach.

When they gauge the success of a particular pattern or setup, they get caught up in the win cycle. They don't wait for the "lose" cycle to see how long it lasts or what the win/lose pattern is.

Instead, they keep touching the pot and getting burned, never understanding that it's not the pot (pattern/setup) that's the problem, but a failure on their part to understand that it's the heat from the stove (the market) that they're paying no attention to whatsoever.

So instead of trying to understand the nature of thermal transfer (the market), they avoid the pot (the pattern), moving on to another pattern/setup without bothering to find out whether or not the stove is on.
Stage Three: The Cynical Skepticism Stage

You've studied so hard and put so much effort into your trading and this universal failure in the patterns only when you take them causes you to feel betrayed by the market, the books and materials and gurus you tried to learn from.

Everybody claims their ideas lead to profitability, but every time you take a trade, it's a loser, even though the setups all worked perfectly before you played them.

And since one of the most painful experiences is to fail when success looks easy, this embarrassment is transformed into anger: anger at the gurus, anger at the vendors, anger at the writers, the seminars, the courses, the brokers, the market makers, the specialists, the "manipulators".

What's the point in trying to analyze and improve your own trading when there are so many dark forces out to get you?

This excuse-driven blame game is a dead-end viewpoint, and explains a lot of what you find on message boards.

Those who can't pull themselves out of it will quit.
Read 6 tweets
Feb 3, 2023
Envy is the root of all modern evils.

THEY want you to believe that GREED runs the world.

In truth, it's ENVY that runs the world today and envy is far worse

Envy as defined by Immanuel Kant👇
Since the beginning of time every wise piece of literature warned about envy.

The Bible

“A heart at peace gives life to the body, but envy rots the bones”

Greek philosopher Democritussaid, a free and peaceful society would actively seek to discourage envy.
“The laws would not prevent each man from living according to his inclination, unless individuals harmed each other; for envy creates the beginning of strife”

Seneca the Younger: “It is the practice of the multitude to bark at eminent men, as little dogs do at strangers”
Read 6 tweets
Feb 2, 2023
#BTC

It’s always fun to listen to financial geniuses talk about #Bitcoin.

They are so close and just don’t get it. They absolutely KNOW that money as we know it is dying & on life support.

Dalio knows we need a replacement, but wants an instant replacement w/ no volatility.
Growing from zero to enormous MUST be volatile

This is the process of shaking out long-term weak hands & transferring them to strong hands

#BTC must bubble, then it digests the bubble & repeats

This is why I give @saylor credit for seeing the light when most rich people can’t
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(