Topic: Bitcoin Bottomed out ? TA analysis. - page 5. (Read 1767 times)
Bitcoin has bottomed the value, and now the travel towards the top has begun. All have been sitting tight for that for over a year now man. It might have officially bottomed out or it might at present take a dive, it'll be hard to know even with the most productive, I've become sick of the btc dramatization and chose to simply give it a chance to move where it needs. I'll simply be adaptable lol.
Not even about psychology to me, to me it is maths because its about probability not certainties. If you know a bit of maths you could possibly improve your chances on some fairground games, with that understanding.
Sure but these are separate things. Understanding probability is crucial to being a successful trader, but IMO it really helps to understand the market psychology underlying price moves too. It puts everything into context and keeps one patient enough to wait for the right trading conditions. Market psychology tends to repeat. It's cyclical in nature, which can be exploited as a trader.
Not even about psychology to me, to me it is maths because its about probability not certainties. If you know a bit of maths you could possibly improve your chances on some fairground games, with that understanding. This possibility for TA has been there for centuries if we talk about the commodity futures, this I think predates stock trading. If the harvest comes in well, the price of wheat or whatever would fall greatly but if crops fail then the price booms. To say the chart or TA done on it was incorrect just because price and fundamentals moved it through resistance or support is not really right, it can be that unlikely events occur and price goes with it.
If people dont like TA then its fair enough, it never offers a sure thing but a profit can be made by knowing when a trend is broken and the action isnt a blip but likely to continue. Like we had a bit of spike today up and then back down again, it seems to be about the 50 day moving average. Will it close above that, would be more interesting to see this happening and its been stuck to it like a fly on the ceiling for over a week now.
If people dont like TA then its fair enough, it never offers a sure thing but a profit can be made by knowing when a trend is broken and the action isnt a blip but likely to continue. Like we had a bit of spike today up and then back down again, it seems to be about the 50 day moving average. Will it close above that, would be more interesting to see this happening and its been stuck to it like a fly on the ceiling for over a week now.
This is psychology, not TA.
TA is psychology , if it was math, it would work all the time.
URL of BLX charts?
https://www.tradingview.com/symbols/BLX/?exchange=BNC
URL of BLX charts?
1- 50 Moving Average on the monthly chart.
the chart you looking at is the BLX, it has the longest data you can possibly find, the first candle goes to first of July 2010.
looking at the chart, we can clearly see that the 50 MA was never closed below and price did have a wick going under but not a single monthly close below.
the chart you looking at is the BLX, it has the longest data you can possibly find, the first candle goes to first of July 2010.
looking at the chart, we can clearly see that the 50 MA was never closed below and price did have a wick going under but not a single monthly close below.
Interesting observation. So a double bottom touching the 50 MA can be awaited. Since adoption isn't exactly in an ever accellerating state I would try a 55 MA or something, longer time periodes.
7- The lack of support below this level.
The bulls know for sure this support is a do or die, as we certainly have no sort of support below this until 900-1100$ , with only a minor weak support that has been tested only once, technically that support line is as good as not there, therefore the need for defending this area and to never have a weekly candle close below 2900 is very important for the bulls.
The bulls know for sure this support is a do or die, as we certainly have no sort of support below this until 900-1100$ , with only a minor weak support that has been tested only once, technically that support line is as good as not there, therefore the need for defending this area and to never have a weekly candle close below 2900 is very important for the bulls.
This is psychology, not TA. If the bulls can be shaken out by a drop below support, well what to say. If it can, it will just happen like that. "Capitulation" beeing the key.
Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.
We all learned here that the best time for buying is bottom. Now everyone wish to buy when Bitcoin hit`s the bottom.
I don`t bother with trading, I don`t bother with waiting bottom. I buy when I can cause I believe in this market in long-term.
Not all crypto-currencies will rise, so I`m careful when I invest. I choose, I buy and I wait. It`s my long-term plan.
It's just right not to bother with waiting for the bottom because we wouldn't know when that will come. I agree with your strategy of buying whenever you can at this stage since i believe there's little room for a decline anymore. It's just important that people know how to manage the risk they'll take.
Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.
We all learned here that the best time for buying is bottom. Now everyone wish to buy when Bitcoin hit`s the bottom.
I don`t bother with trading, I don`t bother with waiting bottom. I buy when I can cause I believe in this market in long-term.
Not all crypto-currencies will rise, so I`m careful when I invest. I choose, I buy and I wait. It`s my long-term plan.
It's just right not to bother with waiting for the bottom because we wouldn't know when that will come. I agree with your strategy of buying whenever you can at this stage since i believe there's little room for a decline anymore. It's just important that people know how to manage the risk they'll take.
We all learned here that the best time for buying is bottom. Now everyone wish to buy when Bitcoin hit`s the bottom.
I don`t bother with trading, I don`t bother with waiting bottom. I buy when I can cause I believe in this market in long-term.
Not all crypto-currencies will rise, so I`m careful when I invest. I choose, I buy and I wait. It`s my long-term plan.
That's the reason why the OP has a Technical Analysis to guide us and have an idea when a possible time of the bottom line to buy. Because investing needs a perfect time to buy trusted coins and in my own, I don't trust altcoins, I give priority on Bitcoin investment and followed by top 5 altcoins in long term purposes. As far as I know, altcoins price were swinging up when the Bitcoin price up.I don`t bother with trading, I don`t bother with waiting bottom. I buy when I can cause I believe in this market in long-term.
Not all crypto-currencies will rise, so I`m careful when I invest. I choose, I buy and I wait. It`s my long-term plan.
Anyone of us has a perspective view on the market analysis so if what your's I do respect.
Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.
We all learned here that the best time for buying is bottom. Now everyone wish to buy when Bitcoin hit`s the bottom.
I don`t bother with trading, I don`t bother with waiting bottom. I buy when I can cause I believe in this market in long-term.
Not all crypto-currencies will rise, so I`m careful when I invest. I choose, I buy and I wait. It`s my long-term plan.
Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough.
historically whenever bitcoin enters a certain trend that lasts a long time, people get stuck in that trend even if it comes to an end. right now you may not see the end of bear market so i will give you another example. the bull market in 2017. when it lasted a long time, a lot of people got stuck in it to the point where they didn't want to accept the end of it and were still looking for a new ATH. like Tom Lee or Mcafee insisting on ATH by the end of 2018. now we have the same thing but in reverse where people want a new ATL and can't accept the reversal and won't until price is at least 50% higher than current price.
Why are you guys waiting for the bitcoin to go down? If you can actually go now and invest, learn how to trade and that's enough. Blockchain is booming and these days you will see that it will grow. It seems pretty good TA but I didn't convince that there's a bottomed and I think we already reached that. Good job for the analysis and it is very informative, as well.
I've grown tired of the btc drama and decided to just let it move where it wants. I'll just be flexible lol.
That's pretty understandable with so many TA charts floating through social media.
It's also impossible to read any crypto related news outlet without being subjected to some random hillbilly TA. I think the main problem isn't so much all these predictions, but the desperation of holding a bag full of expensive coins people want to see pump for once. For most people the crypto market is their first investment sort of experience, so they literally have no clue what's happening here.
In the end, if you're not here to trade, or use Bitcoin, or do whatever else with your time to earn Bitcoin, your stay in the crypto market is boring and a waste of time. There just isn't a way to put it differently.
update : i still think we have bottomed, tho i also think it's too early to buy now, a flat market is about to take over for a few months "assuming we bottomed". i made a whole topic explaining my theory on why do I think that regadless of wether we have bottomed or not, to me, it's not the best time to buy BTC yet.
I followed all your Technical Analysis thread it seems to be true, I personally don't think the possible happen ahead because I don't want to get discouraged about happening the market. Only a few good news I wanted to read but when I saw your TA I am enlightened now and captured ideas in calculating the market price. Indeed, very informative tho. 
update : i still think we have bottomed, tho i also think it's too early to buy now, a flat market is about to take over for a few months "assuming we bottomed". i made a whole topic explaining my theory on why do I think that regadless of wether we have bottomed or not, to me, it's not the best time to buy BTC yet.
https://bitcointalksearch.org/topic/m.49710747
read it, let me know what you guys think.
https://bitcointalksearch.org/topic/m.49710747
read it, let me know what you guys think.
I've already just lost a bet today on Fairlay (for BTC to have touched $4k by 15th Feb 2019), was fully expecting to lose even when I took it in Dec though (the 5/1 was more like a consolation since it meant I couldn't get more coins at cheap price).
I think your theory has been shared by a lot of people, and has stood for a while. I still think we have yet to see the lows of the year, so I'm not 100% sure your bottoming out theory fits with that expectation of further lows, but I actually think it's not the worse time to buy now.
update : i still think we have bottomed, tho i also think it's too early to buy now, a flat market is about to take over for a few months "assuming we bottomed". i made a whole topic explaining my theory on why do I think that regadless of wether we have bottomed or not, to me, it's not the best time to buy BTC yet.
https://bitcointalksearch.org/topic/m.49710747
read it, let me know what you guys think.
https://bitcointalksearch.org/topic/m.49710747
read it, let me know what you guys think.
We just have to wait until March 1 and if Bitcoin breaks the $3,700 resistance levels. However, it's a 50/50 chance that Bitcoin breaks down to $3000 or below briefly. It's like waiting for the last of the weak whale hands to fall.
We've been waiting for that for more than a year now dude. It may have already bottomed out or it may still take a plunge, it'll be very difficult to know even with the most constructive ta. I've grown tired of the btc drama and decided to just let it move where it wants. I'll just be flexible lol.
Quote
My theory.
Everyone is waiting for a capitulation that will not come anymore, including the "weak hands" who would have, or should have caused the capitulation. Everyone is wiser, and more experienced now.
I believe the smarter traders, who are ahead of everyone, are starting to accumulate, before everyone has full knowledge of the situation that the best time to buy might be now.
My theory could be proven right. Everyone waiting for a capitulation followed by a "surging rally" will be waiting in vain. Yes, like the song.
I believe the people trading the market are too smart for that now.
We just have to wait until March 1 and if Bitcoin breaks the $3,700 resistance levels. However, it's a 50/50 chance that Bitcoin breaks down to $3000 or below briefly. It's like waiting for the last of the weak whale hands to fall.
wait for a break-out , go long. set TP and SL .
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