Topic: Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 101. (Read 540250 times)
August 27, 2011, 08:14:06 PM
Funny how your long term is always up. How long is "long term?" All we've been seeing for the past 4 months is down, down, down
August 27, 2011, 04:43:53 PM
It is fixed now, thanks Blitzboom
August 27, 2011, 03:39:42 PM
Chart is looking ugly 
August 27, 2011, 10:16:27 AM
Indeed, and trades like these are at fault:
mtgoxUSD 2011-08-27 15:47:15 6.11665 0.09
mtgoxUSD 2011-08-27 15:51:20 6.14481 0.09
I have no clue if someone really bought/sold Bitcoins at this price, but that’s the trade data that was delivered …
Also, with regard to this topic, what do you people think about the 7.64 low we have seen?
mtgoxUSD 2011-08-27 15:47:15 6.11665 0.09
mtgoxUSD 2011-08-27 15:51:20 6.14481 0.09
I have no clue if someone really bought/sold Bitcoins at this price, but that’s the trade data that was delivered …
Also, with regard to this topic, what do you people think about the 7.64 low we have seen?
He said in IRC this was testing of JPY and other currency trades. Apparently they got mixed in with USD output in some cases. It's turned back off now.
August 27, 2011, 09:36:06 AM
Indeed, and trades like these are at fault:
mtgoxUSD 2011-08-27 15:47:15 6.11665 0.09
mtgoxUSD 2011-08-27 15:51:20 6.14481 0.09
I have no clue if someone really bought/sold Bitcoins at this price, but that’s the trade data that was delivered …
Also, with regard to this topic, what do you people think about the 7.64 low we have seen?
mtgoxUSD 2011-08-27 15:47:15 6.11665 0.09
mtgoxUSD 2011-08-27 15:51:20 6.14481 0.09
I have no clue if someone really bought/sold Bitcoins at this price, but that’s the trade data that was delivered …
Also, with regard to this topic, what do you people think about the 7.64 low we have seen?
August 27, 2011, 09:31:02 AM
It happened today, see chart example
Sorry ,I quoted the wrong post, what I was saying is I didn't see the spike on Mt.Gox's own trade data UI, and I don't know from which provider you're getting that chart from. So it's possbile that the problem is with the chart provider, not Mt.Gox itself.
He's using Sierra Chart, and I've had the same problem today. I've seen anomalous spikes twice now. I had to delete the MtGoxUSD.scid and re-download the entire history in order to get rid of them.
August 27, 2011, 09:27:36 AM
It happened today, see chart example
Sorry ,I quoted the wrong post, what I was saying is I didn't see the spike on Mt.Gox's own trade data UI, and I don't know from which provider you're getting that chart from. So it's possbile that the problem is with the chart provider, not Mt.Gox itself.
August 27, 2011, 09:26:17 AM
I agree that there are competitors who might be better.
But noone dares to do proper marketing and advertising.
You cant expect to overtake the marketleader with a "garage shop" operation.
and thanks for the advice with refreshing. I am trying now.
But noone dares to do proper marketing and advertising.
You cant expect to overtake the marketleader with a "garage shop" operation.
and thanks for the advice with refreshing. I am trying now.
Despite the past and ongoing problems with MtGox, MagicalTux is probably one of the most trusted people in the Bitcoin community at this point. He's doing a lot to build the credibility of bitcoins, and to do right by users. He's also leading the charge with improved security after the issues that occurred at MtGox.
There are security/trust/jurisdiction issues with pretty much all of the other exchanges. For instance, one of the guys involved with TradeHill has some pretty serious allegations of running off with people's money in the past.
MtGox is not perfect, but again, MagicalTux seems to me to be the most trustworthy person/entity running a market at this point. I just wish he'd step up the Q/A a little faster. This is I think the main reason you don't see people leaving the exchange for others.
August 27, 2011, 09:15:47 AM
It happened today, see chart example
August 27, 2011, 05:51:52 AM
Here is a short term update.
Trend is up after the break above bull flag trend channel.
https://twitter.com/#!/BitcoinAnalyst
Trend is up after the break above bull flag trend channel.
https://twitter.com/#!/BitcoinAnalyst
Don't see that spike on Mt.Gox's trade data price plot, could that be a problem with your chart provider?
August 27, 2011, 04:36:29 AM
I agree that there are competitors who might be better.
But noone dares to do proper marketing and advertising.
You cant expect to overtake the marketleader with a "garage shop" operation.
and thanks for the advice with refreshing. I am trying now.
But noone dares to do proper marketing and advertising.
You cant expect to overtake the marketleader with a "garage shop" operation.
and thanks for the advice with refreshing. I am trying now.
August 27, 2011, 04:20:54 AM
We need better, more secure, more professional exchanges, quickly, before people turn away from bitcoins and prices are back to pennies.
To clean up your chart, try Edit => Refresh all data for symbol.
August 27, 2011, 04:14:39 AM
The bitcoin price charts are screwed because of this fake dip...
MtGox, please test changes online first, before going live. Thank you.
And please, remove this trade from the history. Thank you a second time.
MtGox, please test changes online first, before going live. Thank you.
And please, remove this trade from the history. Thank you a second time.
August 27, 2011, 03:31:22 AM
Thanks, this does not help bringing back confidence for investors and traders. Just imagine those things happened weekly on major stock exchanges...
We need better, more secure, more professional exchanges, quickly, before people turn away from bitcoins and prices are back to pennies.
We need better, more secure, more professional exchanges, quickly, before people turn away from bitcoins and prices are back to pennies.
August 27, 2011, 03:25:50 AM
by the way, what happened just minutes ago? There is a brief spike to 6 $ on the charts? Is there yet again another issue / hack on Mtgox??? I hope not.
must be a bug.
August 27, 2011, 03:16:46 AM
Yes, there is no reason to buy bitcoins beyond day-trading activities, when considering reward / risk ratios.
Even a rise to 10$ or 12$ would not yet eliminate the downward risk to the 5 $ area. And if 5$ does not hold there is a risk for a much bigger crash, as we also outlined in the subscription section.
by the way, what happened just minutes ago? There is a brief spike to 6 $ on the charts? Is there yet again another issue / hack on Mtgox??? I hope not.
Even a rise to 10$ or 12$ would not yet eliminate the downward risk to the 5 $ area. And if 5$ does not hold there is a risk for a much bigger crash, as we also outlined in the subscription section.
by the way, what happened just minutes ago? There is a brief spike to 6 $ on the charts? Is there yet again another issue / hack on Mtgox??? I hope not.
August 26, 2011, 09:18:04 AM
Here's another brief analysis that seems to be saying roughly the same thing.
https://btctrading.wordpress.com/2011/08/26/long-term-update-mtgox-weekly-view/
Things don't look so hot right now.
Quote
The situation is very clear using a longer time frame like the weekly one.
Since the June top at 32$ every weekly bar have had a lower high, the bounce from the recent 5.74$ low has completed and now we are resuming the downtrend. A first important step for a weekly reversal to the upside will be to do not break the recent low with an higher low maybe around 6.50$, from there it is necessary to break above the 12$ resistance; without all of this it is impossible to avoid a new low under 5.74$
The inverse RSI fisher transform is oversold for 5 weeks now (it has never happened before) confirming the downtrend . For all the long term investors i hope that the slide will stabilize over 5.5$-6$ during september but the BTC/USD needs a new wave of fresh investors otherwise this downtrend will never stop (eventually it will slow down) due to miners that needs to sell bitcoins to pay back mining costs.
Since the June top at 32$ every weekly bar have had a lower high, the bounce from the recent 5.74$ low has completed and now we are resuming the downtrend. A first important step for a weekly reversal to the upside will be to do not break the recent low with an higher low maybe around 6.50$, from there it is necessary to break above the 12$ resistance; without all of this it is impossible to avoid a new low under 5.74$
The inverse RSI fisher transform is oversold for 5 weeks now (it has never happened before) confirming the downtrend . For all the long term investors i hope that the slide will stabilize over 5.5$-6$ during september but the BTC/USD needs a new wave of fresh investors otherwise this downtrend will never stop (eventually it will slow down) due to miners that needs to sell bitcoins to pay back mining costs.
https://btctrading.wordpress.com/2011/08/26/long-term-update-mtgox-weekly-view/
Things don't look so hot right now.
August 26, 2011, 01:14:18 AM
Bitcoin Forecast:
Long term: UP.
Mid term: DOWN.
Short term: DOWN.
Color legend: Green: UP, Purple: SIDEWAYS, Red: DOWN.
The short term rally that started at 5.74 $ came to an end yesterday with a decline below 10.5 $ and 10 $. This is a bearish sign and shows that bitcoin prices have entered a more protracted correction again . Further downside is now more likely. It will take a move above 14 $ to confirm the mid term rally continuation.
A test or even break of the key level of 5.74 $ is now quite probable.
Bitcoin Technical and Bitcoin Market Analysis
The strong decline from yesterday has changed the outlook significantly.
1) Bitcoin Prices broke beneath the key 10 $ and 10.5 $ level.
2) The bitcoin market is now below the green upper resistance line.
3) The momentum indicator MACD is likely to confirm a sell signal with a bearish cross over.
4) The relative strength is waning and is now again below 50, which is also bearish.
Trade Bitcoins well! Stay tuned for further Bitcoin technical and Bitcoin market analysis here.
Your S3052
Disclaimer: Please always do your own due diligence, and consult your financial advisor. S3052 owns some bitcoins. Never invest unless you can afford to lose your entire investment.
August 18, 2011, 01:37:14 AM
Awesome!! BUY BUY BUY!!
August 18, 2011, 01:18:59 AM
Here is a short term update.
Trend is up after the break above bull flag trend channel.
https://twitter.com/#!/BitcoinAnalyst
Trend is up after the break above bull flag trend channel.
https://twitter.com/#!/BitcoinAnalyst
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