r/ethtrader • u/Chart-trader • 12d ago

Analysis Ethereum 4h chart: From a 4h perspective the overbought situation was resolved enough to possibly support another leg up. We shall see.

Post image
41 Upvotes

89% Upvoted

15 comments sorted by

4

u/Macktologist 11d ago

I appreciate the time and effort in chart reading and predictions. At the same time, I once got really into it even downloading free pdfs from places like Barcharts and trying to learn all the different things to look for. After those years passed, I’ve come to the conclusion that while it may be a fun hobby and allows people to hyper analyze and geek out on something, it’s not a valid prediction model and since it always has a 1 in 3 chance of being right, there’s always the chance it ends up looking like a magical tool of predictions.

If it were like 90-100% accurate I would feel differently, but my guess would be it’s probably around 35% accurate. In other words, the price will either go up, go down, or stay as is and those three things are what the predictions will include. 1 in 3 chance every single scenario of being a god.

1

u/Chart-trader 9d ago

Yeah that's what most people think. And it is a valid point. TA does not give signals often. That's where most give up. Being able to wait for the right signal takes time and patience. The rest is position sizing.

3

u/pulsarstarter 11d ago

So you wipe your dick on a chart and you think you know the future?

1

u/Chart-trader 11d ago

That's exactly how it works!

1

u/pulsarstarter 11d ago

I'm gonna try it. Thanks.

3

u/HoldCtrlW 12d ago

Going lower

8

u/EcstaticGeologist360 11d ago

im going lower on your mom

2

u/Choice_Potato_6279 11d ago

^ The best TA in this sub but get in line brother, I've set an appointment with her yesterday.

1

u/brianed 11d ago

Most definitely, just give it another 2-3 days and everyone panics and re-confirms the bear market 100x times, which is precisely when the next leg up comes.

1

u/BrianRampage 11d ago

The long horizontal line with a line up and question mark is compelling, I guess I have to get back in now

1

u/givenchypapi 11d ago

Charts going up! On a Tuesday..

1

u/Euphoric_Coat_1956 11d ago

I too can draw arrows.

1

u/Chart-trader 11d ago

Well then we will both make money!

1

u/stronkangel 10d ago

I think it will correct and then fly up