Yup, looks like BS meme coin chart to me

I used to be snoody about my trade picks, too.

Have you tried pig entrails? That works about as well as this kind of TA.

My goodness I should have done some TA on the room before I posted here

What exactly do you expect, doing TA on meme coin is like presenting "pet rock jr" to a VC firm for funding?

Shinu/Doge has two outlooks:
1. You make real crypto a laughing stock and millennials are pissed because they're trying to get boomers to take it seriously
2. You make real crypto a laughing stock and millennials love it because boomers aren't driving up the price yet so they can still accumulate

Both scenarios the meme coins are still pet rocks that you may or may not get lucky with but not sure why TA would be useful?

I honestly don’t care if I’m trading a meme coin, pet rock, or D2 item. If the price action is giving me a ton of movement and volatility in either direction, why not take advantage?

nothing wrong with that at all, if it's in your risk tolerance and you think it's fun you should play with it.

meme coins are very illogical, that's usually their appeal and part of their value proposition. illogical means ta is out of the window, anyone who uses it on meme coins doesn't know what they're doing and just trying to portray themselves an "expert" to their subscribers.

Fist bump.



Illogical may not be the best adjective here, but initially I see what you're saying.



Hmmm. TA is meant to help someone strategize their trades using price action. So you're saying even attempting to create a visual strategy with the information we have is useless? And worse, it's fake and flashy?

You lost me man. This is a simple chart with only an MA indicator and some support / resistance lines I drew. Nothing flashy or illogical here, IMO.

hm, k another way

head and shoulders is a bearish ta pattern right?

it means bulls failed to rally the stock to a new local high and short-term traders will get pessimistic by the lack of momentum and typically will selloff so they can use their cash elsewhere

typically ta is a self-fulfilling prophecy as traders see a h&s setup and they expect everyone else to selloff so they also selloff (or they hold off on buying until the selloff), also a lot of high frequency trading is done via algos that have these trading patterns built in

memecoins are typically trading by unsophisticated traders, please consider it objectively, you might not be but most dogecoin hodlers do not know what h&s setups are. also memecoins are not approved by compliance departments at major funds to deploy client funds on so marketcap is almost exclusively retail traders.