LibreCharts

2021-03-02 08:54:41 Back On-Track: Dissecting the Inaccuracies in Grayscale's Juxtaposition of Ethereum Next to Bitcoin

To refresh us, the specific quote we're dissecting is re-published below:

"[Is] Ethereum...better than Bitcoin? Not necessarily - they specialize along different frontiers and make tradeoffs accordingly. Bitcoin is hardened and relatively inflexible, instilling confidence that its accounting system won't change arbitrarily. Ethereum is adaptive and flexible, cultivating an environment of innovation and iteration." Open / Comment

2021-03-02 08:54:16 H) Projects also frequently overstate their importance and potential impact in an attempt to convince end users that their investment may also serve some socially righteous / altruistic purpose in addition to reaping profit. This tactic is particularly potent since it leads investors to believe that they may be failing the world / society / (some righteous cause) by closing their position in whatever project they're invested in.

There are undoubtedly countless additional psychologically manipulative tactics employed by various projects in the blockchain space in addition to self-contrived psychologies that imprison cryptocurrency investors, so the list above is by no means meant to be exhaustive.

However, it should be comprehensive (and hopefully relatable) for readers that can identify a poor investment decision they've made at any point since their initial foray into the blockchain sphere. Open / Comment

2021-03-02 08:54:03 F) Cognitive dissonance / embarrassment / denial (or a refusal to accept) that one could have been tricked, deceived, or victimized by the project they invested in. For some, this concept is a threat to their personal self-image / self-esteem. This often entrenches investors in the matrix until its too late since they are unable to embrace the fact that its possible to be a highly intelligent individual and also be an individual that was misled by carefully crafted, disingenuous information that imbued a false sense of confidence in the projects they invested in.

G) One of the core facets of just about any blockchain project you'll see these days is the "community". Unfortunately, this facet of the project ecosystem has been frequently leveraged to establish personal relationships with folks in the blockchain space to win their friendship and/or trust with the sole intent of making the investment feel more "personal" (as if they're giving money to a 'friend') Open / Comment

2021-03-02 08:53:57 D) A belief (rooted in fallacy), that investors are either "right" or "wrong", which serves as the foundation for the (often) complementary fallacy that since one has already "committed" to a project by placing an investment in it, it is "too late" to change course or re-consider their portfolio allocation.

E) Existential dread that any new realizations that question the legitimacy of the projects they've invested may lead to an ultimate conclusion that the entire space / blockchain technology itself is "bullshit" / "a scam" (this is not true) Open / Comment

2021-03-02 08:53:51 B) The idea that any information they come across that makes them question their investment must have been curated with an ulterior motive rooted in nefarious intent (that ultimately works against the investor's ends)

C) A false belief that the project is run by geniuses / extraordinary individuals or a team of world-renown experts whose competence is unquestionable. Many projects position their team in this manner in their promotional / marketing content to give investors the impression that the project's success is "inevitable" Open / Comment

2021-03-02 08:53:45 Initially, I found this to be a weird quirk - but now, at this point, I regard it as a critical indicator that an investor has been influenced and convinced to hold beliefs about the technology and investment in general designed to prevent them from questioning the core thesis of their investment due to:

A) Warped / perverted depiction of investing as an activity that only reaps rewards for those that are "true believers" in the "revolution" Open / Comment

2021-02-27 16:41:25 Wow, Balance of Power was showing fading buy pressure for Bitcoin spanning back to February 10th.

This indicator is magnifique Open / Comment

2021-02-27 16:36:22 Last One - Balance of Power RSI

Won't go over the construction for this indicator ; I've reiterated that enough times in here (ctrl+f , then type "Balance of Power" ; no quotes)

What Makes This Indicator Awesome

This indicator has been diverging with Bitcoin over the past 2-4 weeks or so.

This isn't due to me being a genius (although I deserve credit for identifying the usefulness of the BoP), but rather the effectiveness of the Balance of Power as an indicator, overall.

As stated before in here - this indicator is designed to identify subtle underlying trends in accum. / distrib. cycles even during times when the price is still appreciating.

I call this one my first line of defense because it always gives an early warning of waning trend strength before anything else Open / Comment

2021-02-27 16:33:17 With that being said, in the chart above I identified that:

1. The RSI formed a 'lower high' for the first time after its series of 'higher highs' combined with 'higher lows' (this is a key way to assess trend for oscillators and momentum indicators like RSI, Stoch, Accum/Distrib., etc.)

2. RSI is aligned with price (no divergence); confirming the hypothesis that this recent downturn isn't a fake-out but rather a genuine exhaustion of bulls

Good News

This is all really fucking healthy and I like that. This is the type of bull market you can sleep easy in.

The gains are good, but we're seeing periods of profit-taking as well as corrections that are definitely wake-up calls but not earth-shattering by any means.

Investor sentiment on Bitcoin or the crypto markets, in general, don't seem to be impacted either. Open / Comment

2021-02-27 16:29:22 RSI(14) On the Weekly

This indicator is custom coded ; factors in the EMA of the Rate of Change of RSI values with two diff lookbacks, creating a 'fast' and 'slow' moving average ; when fast > slow , line green / vice versa = red

Purpose of doing this was to pull out additional info from the RSI. There's a difference between an RSI that takes two weeks to climb from 40 to 80 & one that climbs those values in two days ; hence, I added in a augmentation that accounts for the Rate of Change of the RSI to provide us with a more acute (sensitive) reading from the RSI w/o skewing the actual values Open / Comment