I still feel like we're bullish. TA is one thing, but the distribution is another. TA works best when the asset is distributed evenly, but BTC isn't. There's still a lot of coins in the hands of early investors and people who went in for fun and forgot about it. We will keep facing young people who read the news and got reminded of that 1000 BTC they mined on their computer in 2011 or people who bought in 2016 and now suddenly need to buy a house or something. There are people who won't care about indicators and will sell just because they'll be millionaires regardless of whether the price is 7k or 10k USD.
I believe we've just faced this kind of dump and there's no point in blaming the media.
Topic: [2018-09-05] Bitcoin Price Indicator Turns Bullish for First Time in 8 Months (Read 205 times)
September 06, 2018, 04:25:10 PM
September 06, 2018, 06:14:00 AM
I feel like they are only making things worse, because newbies get false hopes that get ruined by these dips, which then makes them anxious all the time. Why can't they just acknowledge the bear market? It's not like Bitcoin is going to zero, there's no shame in bear market, it's a natural part of the cycle.
i feel like the media is always just chasing price. they're often good counter-indicators. i see the same things in real markets. they hype things at the top and talk smack at the bottom, and they're always looking to explain price movements with news stories. they're just clueless about how markets work.
Exactly. The media's agenda isn't that of stirring sentiment, it's that of peddling what's likely to be read. Bull or bear serves them equally, so they don't really need to think long term or even to think objectively. Bad TA, good TA, if it's something people want to hear, they'll publish it.
I can't imagine anyone who hasn't acquiesced to the acknowledgement of a bear market. What I feel people are finding hard to let go of is the hope that we're not mired in it, and that a new dawn is just around the corner.
The corrections from last year, the maturing of the industry... finding its way and stumbling. All this has to happen and all this will take a while.
September 06, 2018, 12:12:00 AM
-12% at $6,400 now.
Technical analysis and perma-bulls fail to predict the price yet again.
Technical analysis and perma-bulls fail to predict the price yet again.
no need to disparage all TA---just bad TA.
relying on a weekly positive MACD in a corrective or bear market is just silly. it turned positive twice in the 2014-15 bear market and we still made new lows afterwards. I feel like they are only making things worse, because newbies get false hopes that get ruined by these dips, which then makes them anxious all the time. Why can't they just acknowledge the bear market? It's not like Bitcoin is going to zero, there's no shame in bear market, it's a natural part of the cycle.
i feel like the media is always just chasing price. they're often good counter-indicators. i see the same things in real markets. they hype things at the top and talk smack at the bottom, and they're always looking to explain price movements with news stories. they're just clueless about how markets work.
September 05, 2018, 08:20:05 PM
And as soon as this news article is published, bitcoin went below $7000 again. So I guess the price indicator was somewhat misleading to say the least and it only proves that bitcoin price prediction is really hard because the market very volatile.
The indicator was probably Chinese and it messed up the green and red candles.
People should really stop with those TA and market analyses as most if not all turn out to be terribly wrong in a matter of days.
At press time, BTC is trading at $7,320 on Bitfinex, representing a 0.8 percent appreciation on a 24-hour basis.
Update:
7012, -4.69% for the last 24h.......
-12% at $6,400 now.
Technical analysis and perma-bulls fail to predict the price yet again. I feel like they are only making things worse, because newbies get false hopes that get ruined by these dips, which then makes them anxious all the time. Why can't they just acknowledge the bear market? It's not like Bitcoin is going to zero, there's no shame in bear market, it's a natural part of the cycle.
September 05, 2018, 03:33:54 PM
The list of indicators signaling a long-term bullish reversal in bitcoin (BTC) continues to grow with each passing week.
Basing up on technical analysis when you do see up the MACD it is already positioning for long term bull trend but i do somehow anticipated on possible dips after such price increase which im actually right that there would be always a possible dump on certain percentage after that rise either manipulated or huge profit taking of short orders but still we are on a good support as of now and might gradually took the same gradual increase on past weeks upto now. September 05, 2018, 02:20:08 PM
And just like that the bullish momentum of Bitcoin suddenly went into a stop. Bitcoin as of right now dropped -5.83% from its recent high and it confirmed that they are rejecting to enter the bull market yet again, as a result majority of the altcoins in the market are down more than 10%. Re-visited the chart of Bitcoin yet again and I saw on its 2 Hour and 4 Hour chart that there is a big H&S pattern forming and with the recent drop we have, BTC is currently in the right shoulder now, MACD is also way below zero which means your bullish sentiments is over for now. This market is really a roller coaster ride, one minute you think everything is calm and fine but then it will fall down unexpectedly.
September 05, 2018, 10:01:22 AM
We are back to the drawing boards to see and look for TA indicator that will say that this is not a imminent crash waiting to happen. Its a big pullback, but hope though that support around $7000 is strong. Because don't need to go back to $6300-$6500 again and repeat this cycle, just saying.
It was likely to happen with how $7500 is a very important level in more ways than just one. I think the chances are realistic that we have taken distance from yet another lower high, unfortunately (for people who were hoping for a recovery). If it turns out to actually be a lower high, then we're heading back straight to $6000 which for most people is the least favorable scenario.
The dump we've seen today is one that has probably been planned for a while. It's safe to say that whoever the dumper was, was waiting for other whales to break $7500 and since no one was willing to do so, it's dump time. I hope that I'll be proven wrong, but thus far the downtrend has been doing what I expected it to do for a longer while.
The only advantage of this dump is that the short I opened just over $7000 some days ago looks a bit better now.
September 05, 2018, 09:59:09 AM
And as soon as this news article is published, bitcoin went below $7000 again. So I guess the price indicator was somewhat misleading to say the least and it only proves that bitcoin price prediction is really hard because the market very volatile.
The indicator was probably Chinese and it messed up the green and red candles.
People should really stop with those TA and market analyses as most if not all turn out to be terribly wrong in a matter of days.
At press time, BTC is trading at $7,320 on Bitfinex, representing a 0.8 percent appreciation on a 24-hour basis.
Update:
7012, -4.69% for the last 24h.......
September 05, 2018, 09:46:58 AM
The movement of bitcoin is so very fast the truth is the market value of bitcoin is now goes dump
I think before make this article the price is in good condition but after published it the price is not in the good value because the price of bitcoin every second and every minutes have changes
I think before make this article the price is in good condition but after published it the price is not in the good value because the price of bitcoin every second and every minutes have changes
September 05, 2018, 09:25:48 AM
And as soon as this news article is published, bitcoin went below $7000 again. So I guess the price indicator was somewhat misleading to say the least and it only proves that bitcoin price prediction is really hard because the market very volatile. We are back to the drawing boards to see and look for TA indicator that will say that this is not a imminent crash waiting to happen. Its a big pullback, but hope though that support around $7000 is strong. Because don't need to go back to $6300-$6500 again and repeat this cycle, just saying.
September 05, 2018, 09:06:45 AM
Believe in returning of bulls also, and today`s dump was predictable, number of short position was too high. Anyway, good chance to buy more.
September 05, 2018, 02:56:33 AM
The list of indicators signaling a long-term bullish reversal in bitcoin (BTC) continues to grow with each passing week.
The latest to join the list is the MACD histogram, which has moved above zero – turned bullish – for the first time since January. The MACD, which oscillates above and below the zero line, is one of the most popular technical indicators used to determine a trend's reversal and momentum.
A bearish-to-bullish trend change is confirmed when the histogram moves above the zero line. On the other hand, a bearish reversal is confirmed when it dips below zero.
The bullish turn of the MACD adds credence to BTC's strong defense of the psychological support of $6,000 in the last 10 weeks.
Further, it validates bearish exhaustion indicated by BTC's long-tailed monthly candle and the record low net shorts in the BTC futures market.
At press time, BTC is trading at $7,320 on Bitfinex, representing a 0.8 percent appreciation on a 24-hour basis.
Read more: https://www.coindesk.com/bitcoin-indicator-turns-bullish-for-first-time-in-8-months/
The latest to join the list is the MACD histogram, which has moved above zero – turned bullish – for the first time since January. The MACD, which oscillates above and below the zero line, is one of the most popular technical indicators used to determine a trend's reversal and momentum.
A bearish-to-bullish trend change is confirmed when the histogram moves above the zero line. On the other hand, a bearish reversal is confirmed when it dips below zero.
The bullish turn of the MACD adds credence to BTC's strong defense of the psychological support of $6,000 in the last 10 weeks.
Further, it validates bearish exhaustion indicated by BTC's long-tailed monthly candle and the record low net shorts in the BTC futures market.
At press time, BTC is trading at $7,320 on Bitfinex, representing a 0.8 percent appreciation on a 24-hour basis.
Read more: https://www.coindesk.com/bitcoin-indicator-turns-bullish-for-first-time-in-8-months/
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