New suscriber here..
Looking forward to see more of your work. I hope you are able to give some pointers in this market that can help avoid buying at the wrong time.
Seems like i have a lot of technical jargon to catch up on (newbie in bitcoins) - any good ideas where to read about RSI, bearish, bullish etc?
Chart School
http://stockcharts.com/school/doku.php?id=chart_school:overview:technical_analysisTrading View
https://www.tradingview.com/e/M1ZPd859/I've only been following this stuff for a couple of months myself but am becoming more and more convinced that TA is actually a branch of astrology. YMMV.
lol. Even if there are good reasons for TA, it's so hard to read the signals through the noise that it's almost unusable. We're in an exponential uptrend for years, but a down trend since Dec 1, 2013, and an uptrend since last Friday... wrong analysis can be explained away and correct analysis is usually so vague it's meaningless. Ok, we're going to probably have a new ATH. When?? I stay 90% in bitcoin. Price goes up, I sell some. Price goes down, I buy some. Simple as that.
Thank you for your comments and opinions. Discussions such as these make us take a good look at what we do, why we do it, and what we can do to improve. Below are a few comments about the concerns you raise:
-A service like ours exists specifically to cut through the noise and false signals you mention. TA is an art, not a science, and therefore its effectiveness depends on the skill of the technician. We think we have some of the most talented analysts in the game and their track record speaks for itself.
-There are 2 different classes of participants in any market: investors and speculators. Each will have the same goal, capital appreciation, but will achieve the goal in different ways. The investor is comfortable with sacrificing alpha for convenience and the trader is more concerned with abnormal profits at the expense of leisure/quality of life. Your strategy works for you, others will approach the market in a way that works for them. BTW, we think we can provide a benefit to both types, but for different reasons.
-TA is purely the study of psychology, behavior and sentiment as manifested in market price action expressed through a graphical representation known as a chart (see Chapter 1 of John Murphy’s Technical Analysis of the Financial Markets for a great explanation of what TA is and what is attempts to achieve). This makes it particularly applicable to digital currencies which lack a corporeal quality and cashflow, rendering traditional valuation methodologies virtually impossible. It is a momentum-driven market, and technicals are good at measuring exactly that. Also, TA is no different than any other time series analysis you would apply to a dataset in order to glean insights that can provide an advantage in the marketplace. Sure, nothing works 100% of the time, but anything over 33% success rate is beating the odds in a mathematical sense (market has three directions: up, down, and sideways. You must choose only one making your statistical odds of success 33.33…%).
-Our reports are not vague, and any losses incurred by unprofitable analysis are quickly mitigated by the frequency of our updates.