Figures may trigger and may fail, but triangle is not a circle anyway.
You do really sound like a prophet
Topic: Analysis - page 143. (Read 941582 times)
You do really sound like a prophet
I'm a bit worried because RSI is in highly in overbought area. It is close to overbought even on daily. So maybe a small correction could be in place?
I'd better worry about daily adx at 60. ADX > 50 usually hints about coming local top or bottom. However adx may rise much more than 50.
Indicators which showed overbought situation were right again. 4h RSI is now back down to 50 and we didn't break Fib 61.8% (around 260$)... New ride up or?
Good chance we take a stab at 260, then more up.
This looks like a 4 on my indicators
I'm a bit worried because RSI is in highly in overbought area. It is close to overbought even on daily. So maybe a small correction could be in place?
I'd better worry about daily adx at 60. ADX > 50 usually hints about coming local top or bottom. However adx may rise much more than 50.
Indicators which showed overbought situation were right again. 4h RSI is now back down to 50 and we didn't break Fib 61.8% (around 260$)... New ride up or?
Here's what I mean by inverse head and shoulders:
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
that's a pretty messed up head and shoulders pattern.
Not saying the price can't go up above that resistance level but damn...that head and that shoulder on the left looks like a hunch back.
Psst...
The head should be the lowest point of the pattern or it's just HH's and HL's (ie. a corrective trend)
That is more aimed at the people who are all behind this being a potential pattern. Not so much for smoothie
Here's what I mean by inverse head and shoulders:
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
that's a pretty messed up head and shoulders pattern.
Not saying the price can't go up above that resistance level but damn...that head and that shoulder on the left looks like a hunch back.
If that is a reverse h&s the person it shows must have some sort of physical condition. (or is wearing a padded suit)
If you were hanging upside down you might be happy to be wearing a padded suit! lol
The signs are there if you know to look for them.
Now THAT's what I call a padded suit!!
If that is a reverse h&s the person it shows must have some sort of physical condition. (or is wearing a padded suit)
If you were hanging upside down you might be happy to be wearing a padded suit! lol
The signs are there if you know to look for them.
If that is a reverse h&s the person it shows must have some sort of physical condition. (or is wearing a padded suit)
If you were hanging upside down you might be happy to be wearing a padded suit! lol
Here's what I mean by inverse head and shoulders:
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
If that is a reverse h&s the person it shows must have some sort of physical condition. (or is wearing a padded suit)
This is also not a duck
Here's what I mean by inverse head and shoulders:
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
I'm not disagreeing with the master, just wanted a better visualization of what I was thinking.
starting to look bubbly.
you ain't seen nothing yet
I'm waiting for a sizable correction in the meantime, though (since ~ 2 days ago, actually). 200 hour MA (blue in my chart) could be a target (~$252). Incidentally that's pretty close to the lower uptrend line (gray in my chart, currently at ~$248).
On the other hand: who knows what's up in China... this thing might have more legs.
starting to look bubbly.
I'm a bit worried because RSI is in highly in overbought area. It is close to overbought even on daily. So maybe a small correction could be in place?
I'd better worry about daily adx at 60. ADX > 50 usually hints about coming local top or bottom. However adx may rise much more than 50.
I tried to find out more about the MMM ponzi that is supposed to fuel the current uptrend (and I count as a fundamental).
It has been running for years, including accepting bitcoin for over 3 years, so I'm not convinced it is so important.
Supposedly in South Africa it has been running wild lately, but Google trends don't show a large rise for bitcoin in SA.
And it doesn't explain the huge buys in China, if bitcoins would be bought in SA, I would expect to be sold in other countries.
So, if someone has a better explanation for the renewed Chinese appetite, please post it.
The question is how long will this ponzi / renewed Chinese demand go on, with major medium term consequences on the price.
occams razorIt has been running for years, including accepting bitcoin for over 3 years, so I'm not convinced it is so important.
Supposedly in South Africa it has been running wild lately, but Google trends don't show a large rise for bitcoin in SA.
And it doesn't explain the huge buys in China, if bitcoins would be bought in SA, I would expect to be sold in other countries.
So, if someone has a better explanation for the renewed Chinese appetite, please post it.
The question is how long will this ponzi / renewed Chinese demand go on, with major medium term consequences on the price.
What's wrong with this simply being a pump, and this on Huoubi has the advantage that it can be made look huge by buying and selling the same coins several times without additional costs. Volume on exchanges with trading fees hasn't spiked, soo.
Also the run-up looks natural, albeit a little smooth (not enough oscillations). My guess this is a genuine spike, just the volume has been artificially inflated by people who want to make it look like it counts.
I tried to find out more about the MMM ponzi that is supposed to fuel the current uptrend (and I count as a fundamental).
It has been running for years, including accepting bitcoin for over 3 years, so I'm not convinced it is so important.
Supposedly in South Africa it has been running wild lately, but Google trends don't show a large rise for bitcoin in SA.
And it doesn't explain the huge buys in China, if bitcoins would be bought in SA, I would expect to be sold in other countries.
So, if someone has a better explanation for the renewed Chinese appetite, please post it.
The question is how long will this ponzi / renewed Chinese demand go on, with major medium term consequences on the price.
It has been running for years, including accepting bitcoin for over 3 years, so I'm not convinced it is so important.
Supposedly in South Africa it has been running wild lately, but Google trends don't show a large rise for bitcoin in SA.
And it doesn't explain the huge buys in China, if bitcoins would be bought in SA, I would expect to be sold in other countries.
So, if someone has a better explanation for the renewed Chinese appetite, please post it.
The question is how long will this ponzi / renewed Chinese demand go on, with major medium term consequences on the price.
Figures may trigger and may fail, but triangle is not a circle anyway.
But not every pattern is a perfect pattern, right?
The funny thing about TA is you can find a pattern to match any idea, if you just look for imperfect patterns
And to make matters worse, you can find multiple patterns that conflict each other. I find that the only patterns that are worth a LOT are the ones everyone agrees on. Because then they become self fulfilling prophecies. not always.
Recall the cup and handle pattern from couple of months ago.
But not every pattern is a perfect pattern, right?
The funny thing about TA is you can find a pattern to match any idea, if you just look for imperfect patterns
And to make matters worse, you can find multiple patterns that conflict each other. I find that the only patterns that are worth a LOT are the ones everyone agrees on. Because then they become self fulfilling prophecies.
This? H&S? No.
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