Confluence detectors and crypto press inability to note patterns
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So the big headline in the queue this day again involves a confluence detector. Its being applied to Bitcoin. For the sake of amateur Journalism, lets see what confluence is:
Google defines "Confluence" as follows:
"the junction of two rivers, especially rivers of approximately equal width.
"here at the confluence of the Laramie and North Platte Rivers"
synonyms: convergence, meeting, junction, joining, conflux, watersmeet; sangam
"the confluence of the Rhine and the Mosel"
an act or process of merging.
"a major confluence of the world's financial markets"
I imagine the detector to be the modern day equivalent of a diving rod - perhaps even a bi forked stick or twig.
This in an attempt to get people to buy what.... after thinking about it, ...Bitcoin - isn't gold to Lite coins silver - it is a highly overpriced, overrated aluminum to bitcoins gold. To XRP's palladium, To even BCH's bronze.
Bitcoin acts and behaves like a really negative junk bond.
TODAY IS FRIDAY. The press seems to have neglected that the market tends to peak most Fridays and to a lesser degree Saturdays ,followed by a Sunday sell-off for those who haven't noticed this correlation yet and are reactionary day traders.
The weekend's do not always produce this result - but I again encourage you to do a 30, 60 , 90 day look back , and find the pattern to this very obvious pump and dump.
Another headline again is slamming XRP; saying how it is spending its fifth weekend in the red, in a row; but NOT saying that it is up from the .28 territory it's "Confluence detector" said it wouldn't break anytime soon.
Fortis Fortuna Adiuvat
Google defines "Confluence" as follows:
"the junction of two rivers, especially rivers of approximately equal width.
"here at the confluence of the Laramie and North Platte Rivers"
synonyms: convergence, meeting, junction, joining, conflux, watersmeet; sangam
"the confluence of the Rhine and the Mosel"
an act or process of merging.
"a major confluence of the world's financial markets"
I imagine the detector to be the modern day equivalent of a diving rod - perhaps even a bi forked stick or twig.
This in an attempt to get people to buy what.... after thinking about it, ...Bitcoin - isn't gold to Lite coins silver - it is a highly overpriced, overrated aluminum to bitcoins gold. To XRP's palladium, To even BCH's bronze.
Bitcoin acts and behaves like a really negative junk bond.
TODAY IS FRIDAY. The press seems to have neglected that the market tends to peak most Fridays and to a lesser degree Saturdays ,followed by a Sunday sell-off for those who haven't noticed this correlation yet and are reactionary day traders.
The weekend's do not always produce this result - but I again encourage you to do a 30, 60 , 90 day look back , and find the pattern to this very obvious pump and dump.
Another headline again is slamming XRP; saying how it is spending its fifth weekend in the red, in a row; but NOT saying that it is up from the .28 territory it's "Confluence detector" said it wouldn't break anytime soon.
Fortis Fortuna Adiuvat
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p.s. IF after every crash, which is just a cycle, traders become ever more timid, profits go down, crypto goes down.... as in for the count; these cycles need to be viewed as OPPORTUNITIES!!!註釋
That was meant to read Bitcoin is ALUMINUM, highly overpriced, comparable to Lite coin's gold.Bitcoin is a steaming pile of that which fertilizes crops. Etc. Et. Al. ad. Nauseum.
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