Thats a very short-term chart.
In the longer term, the downtrend is losing steam. Dont forget also, that pre-christmas money can tend to be tight. My experience in business has always been that business slows to a crawl pre-christmas but picks up late January the following year, gaining momentum mid-January.
Topic: Accord's trading forecast/outlook - page 2. (Read 2411 times)
I don't believe a word you say. Didn't you say a few days ago that "it's getting ugly on mtgox," predicting imminent crash? Well, it turned out that mtgox price ROSE up instead. You have no credibility with me.
You are being result oriented. I said it was getting ugly on Gox because of several triggers such as 1k wall coming down plus btcchina following GOX and stamp not all that bullish. I showed the proof, and I was wrong.
In fact I want you to not only discredit me, but to make me look like shit.
Hey look I drew two lines and made a forcast .... 
Anyone can draw a few lines and make any forecast they want.
Anyway bitcoin isn't a stock and is volatile to bad or good news.
I don't see technical analysis working for bitcoin at the moment.
Anyone can draw a few lines and make any forecast they want.
Anyway bitcoin isn't a stock and is volatile to bad or good news.
I don't see technical analysis working for bitcoin at the moment.
I don't believe a word you say. Didn't you say a few days ago that "it's getting ugly on mtgox," predicting imminent crash? Well, it turned out that mtgox price ROSE up instead. You have no credibility with me.
I won't be using a lot of TA. Not an expert and it is not as effective with low vol markets like btc. I have been able to stay above water trading BTCs, which is better than I'd say 90% of people that try to trade BTCs. I will be making 3 analyses:
Bearish-bullish spectrum spans from -10 to 10, with 0 being neutral, 10 being full blow parabolic, -10 being crash to oblivion.
Price forecast
And news/ta analysis
12/27 - 12/29:
Current price: 720 btsp
Sentiment: -3
forecast: 780-550
-India's central bank taking early precaution to denounce bitcoin is bad news even if it is expected.
-Market has been a bit oversold last few days with China volume picking up.
-Could not break resistance of higher 700s... support could get pulled back near 700 and if broken flash crash may ocurr.
This trend developing plus some setbacks may cause a longer decline. Late January is critical time as China will be more focused on bitcoin. Like I said though, all the exchanges are still following China. This is sad, a fake exchange could be playing everyone like a fiddle, and though I hope is not true, it could send bitcoin back to 100s. Though I doubt btcchina is faking it... their actual vol was very inflated bc of 0 fees and the influence of the fake exchanges.
Bearish-bullish spectrum spans from -10 to 10, with 0 being neutral, 10 being full blow parabolic, -10 being crash to oblivion.
Price forecast
And news/ta analysis
12/27 - 12/29:
Current price: 720 btsp
Sentiment: -3
forecast: 780-550
-India's central bank taking early precaution to denounce bitcoin is bad news even if it is expected.
-Market has been a bit oversold last few days with China volume picking up.
-Could not break resistance of higher 700s... support could get pulled back near 700 and if broken flash crash may ocurr.
This trend developing plus some setbacks may cause a longer decline. Late January is critical time as China will be more focused on bitcoin. Like I said though, all the exchanges are still following China. This is sad, a fake exchange could be playing everyone like a fiddle, and though I hope is not true, it could send bitcoin back to 100s. Though I doubt btcchina is faking it... their actual vol was very inflated bc of 0 fees and the influence of the fake exchanges.
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