Bitcoin Price Technical Analysis (28/5/2015)

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: Amph on May 31, 2015, 02:13:36 PM

Quote from: expert4knowledge on May 31, 2015, 10:47:48 AM

Quote from: BTCevo on May 30, 2015, 11:43:22 PM

Quote from: randy8777 on May 30, 2015, 02:06:45 PM

Quote from: BTCevo on May 30, 2015, 10:20:56 AM

Quote from: expert4knowledge on May 28, 2015, 06:06:08 AM

I am considering stagnant situation a good thing for bitcoin since it helps bitcoin grows more in the long-term and more people come to bitcoin era.

I dont think that stagnant situation is a good thing for bitcoin in this time, because with the stagnant we can't even do anything with our bitcoin and the price wont raise to high so people wont got any profit from it. May be for some newbie they have a chance to buying in low but for higher member I dont think they will happy with all of that

what a mentality. you can do everything you want with bitcoin at current price. the stagnation doesn't change anything. so you are only willing to use your coins if the price will sky rocket...

With the volatile price I also can do anything without any concern of it. So why should I wait until stagnation time to do everything that I could do? I dont think stagnant time will make your coin value going high and grow your bitcoin. Stagnation doesnt affected your bitcoin at all

If you consider bitcoin investing you may consider that fluctuations is well but I think stagnant can lead more shops use bitcoin and increase price of bitcoin.

stagnancy is only good for building trust, among average users and new merchants, but we should not remain forever in this situation, or bitcoin will not grow ever, we are aiming at much higher with this technology

Its true that we need some stagnancy for a while. But are you really want this price going to stagnant forever? With this kind of method or technology you really need to make bitcoin going higher not to mention some other things that will support bitcoin going higher. But I still dont know why the price is drop significant like this

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: expert4knowledge on May 31, 2015, 10:47:48 AM

Quote from: BTCevo on May 30, 2015, 11:43:22 PM

Quote from: randy8777 on May 30, 2015, 02:06:45 PM

Quote from: BTCevo on May 30, 2015, 10:20:56 AM

Quote from: expert4knowledge on May 28, 2015, 06:06:08 AM

I am considering stagnant situation a good thing for bitcoin since it helps bitcoin grows more in the long-term and more people come to bitcoin era.

I dont think that stagnant situation is a good thing for bitcoin in this time, because with the stagnant we can't even do anything with our bitcoin and the price wont raise to high so people wont got any profit from it. May be for some newbie they have a chance to buying in low but for higher member I dont think they will happy with all of that

what a mentality. you can do everything you want with bitcoin at current price. the stagnation doesn't change anything. so you are only willing to use your coins if the price will sky rocket...

With the volatile price I also can do anything without any concern of it. So why should I wait until stagnation time to do everything that I could do? I dont think stagnant time will make your coin value going high and grow your bitcoin. Stagnation doesnt affected your bitcoin at all

If you consider bitcoin investing you may consider that fluctuations is well but I think stagnant can lead more shops use bitcoin and increase price of bitcoin.

stagnancy is only good for building trust, among average users and new merchants, but we should not remain forever in this situation, or bitcoin will not grow ever, we are aiming at much higher with this technology

expert4knowledge

hero member

Activity: 826

Merit: 1000

The All-in-One Cryptocurrency Exchange

Quote from: BTCevo on May 30, 2015, 11:43:22 PM

Quote from: randy8777 on May 30, 2015, 02:06:45 PM

Quote from: BTCevo on May 30, 2015, 10:20:56 AM

Quote from: expert4knowledge on May 28, 2015, 06:06:08 AM

I am considering stagnant situation a good thing for bitcoin since it helps bitcoin grows more in the long-term and more people come to bitcoin era.

I dont think that stagnant situation is a good thing for bitcoin in this time, because with the stagnant we can't even do anything with our bitcoin and the price wont raise to high so people wont got any profit from it. May be for some newbie they have a chance to buying in low but for higher member I dont think they will happy with all of that

what a mentality. you can do everything you want with bitcoin at current price. the stagnation doesn't change anything. so you are only willing to use your coins if the price will sky rocket...

With the volatile price I also can do anything without any concern of it. So why should I wait until stagnation time to do everything that I could do? I dont think stagnant time will make your coin value going high and grow your bitcoin. Stagnation doesnt affected your bitcoin at all

If you consider bitcoin investing you may consider that fluctuations is well but I think stagnant can lead more shops use bitcoin and increase price of bitcoin.

boopy265420

legendary

Activity: 1876

Merit: 1005

At large it seems that Bitcoin's price are stable between 230-240$ at the moment.If this trends of holding the price at this level continues then in coming weeks we will see huge price rise and can see once again 300$+ even more.This is again in accumulation period after the recent news of adoption and price index allowance by NYSC.This time price is good in my opinion.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Looks like the "decisive move" was to the downside, it's trading now at $233. Of course, that's not much of a move. What's the general sense of the lack of volatility. It certainly allows people to conduct more transactions with the confidence in value, but it would also allow people to stock up their reserves with a lower (than in recent past) and more stable price.

Any thoughts?

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: randy8777 on May 30, 2015, 02:06:45 PM

Quote from: BTCevo on May 30, 2015, 10:20:56 AM

Quote from: expert4knowledge on May 28, 2015, 06:06:08 AM

I am considering stagnant situation a good thing for bitcoin since it helps bitcoin grows more in the long-term and more people come to bitcoin era.

I dont think that stagnant situation is a good thing for bitcoin in this time, because with the stagnant we can't even do anything with our bitcoin and the price wont raise to high so people wont got any profit from it. May be for some newbie they have a chance to buying in low but for higher member I dont think they will happy with all of that

what a mentality. you can do everything you want with bitcoin at current price. the stagnation doesn't change anything. so you are only willing to use your coins if the price will sky rocket...

With the volatile price I also can do anything without any concern of it. So why should I wait until stagnation time to do everything that I could do? I dont think stagnant time will make your coin value going high and grow your bitcoin. Stagnation doesnt affected your bitcoin at all

expert4knowledge

hero member

Activity: 826

Merit: 1000

The All-in-One Cryptocurrency Exchange

Quote from: alh on May 30, 2015, 03:10:58 PM

I think the price stagnation is primarily a reflection of how people treat Bitcoin. It's a commodity, and not a currency. The actual usage for currency purposes is miniscule, and fraught with peril in terms of fraud and what-not.

I have no idea when (or even if) Bitcoin will be a treated like a currency.

Interesting analysis, but the price of bitcoin has usually very fluctuations but I think we may consider it something like Gold rather than currency.

alh

legendary

Activity: 1846

Merit: 1052

I think the price stagnation is primarily a reflection of how people treat Bitcoin. It's a commodity, and not a currency. The actual usage for currency purposes is miniscule, and fraught with peril in terms of fraud and what-not.

I have no idea when (or even if) Bitcoin will be a treated like a currency.

randy8777

legendary

Activity: 896

Merit: 1000

Quote from: BTCevo on May 30, 2015, 10:20:56 AM

Quote from: expert4knowledge on May 28, 2015, 06:06:08 AM

I am considering stagnant situation a good thing for bitcoin since it helps bitcoin grows more in the long-term and more people come to bitcoin era.

I dont think that stagnant situation is a good thing for bitcoin in this time, because with the stagnant we can't even do anything with our bitcoin and the price wont raise to high so people wont got any profit from it. May be for some newbie they have a chance to buying in low but for higher member I dont think they will happy with all of that

what a mentality. you can do everything you want with bitcoin at current price. the stagnation doesn't change anything. so you are only willing to use your coins if the price will sky rocket...

BTCevo

legendary

Activity: 1834

Merit: 1008

Quote from: expert4knowledge on May 28, 2015, 06:06:08 AM

I am considering stagnant situation a good thing for bitcoin since it helps bitcoin grows more in the long-term and more people come to bitcoin era.

I dont think that stagnant situation is a good thing for bitcoin in this time, because with the stagnant we can't even do anything with our bitcoin and the price wont raise to high so people wont got any profit from it. May be for some newbie they have a chance to buying in low but for higher member I dont think they will happy with all of that

expert4knowledge

hero member

Activity: 826

Merit: 1000

The All-in-One Cryptocurrency Exchange

I am considering stagnant situation a good thing for bitcoin since it helps bitcoin grows more in the long-term and more people come to bitcoin era.

anderson00673

sr. member

Activity: 308

Merit: 250

That isn't a bad thing that the price is stagnant. Wider adoption requires price stability IMO. We are not talking about shares of Apple here but a currency. Your average person doesn't want a currency that has so much ups and downs.

Thanks Bornil for the analysis. It helps me to wrap my head around these things when I see specific real world examples.

Amph

legendary

Activity: 3248

Merit: 1070

here the whole picture since january, by removing the first pump, we are basically in a straight line, constant trend, the truth is that we are not in a up or down trend, but in a stagnant trend

expert4knowledge

hero member

Activity: 826

Merit: 1000

The All-in-One Cryptocurrency Exchange

I think the prices will not move very much shortly but they may do so in the few months.

bornil267645

sr. member

Activity: 406

Merit: 250

AltoCenter.com

Bitcoin is seemingly finding it difficult to shrug off laziness and inactivity. Ever since it breached the support zone at the start of this week, the digital currency has traded in an extremely narrow range of $234-238. However, I expect either of the fighting parties to make a decisive move as we enter the latter half of the week.

Bitcoin trades on a flat-to-positive note, up from yesterday’s $235.19 to $235.40.

Taking a technical look at the 240-minute BTC/USD price chart helps us in finding out that there is a better chance of Bitcoin hitting $230 than there is of kissing $240.

Bitcoin Chart Structure – As can be seen from the chart above, Bitcoin made another attempt to force a jump to a higher ground but the resistance zone (marked as yellow in the chart) proved to be an insurmountable task. The digital currency is trading flat as it remains trapped between support and resistance levels.

Moving Average Convergence Divergence – The MACD indicator has closed in on the Signal Line, thereby lifting the value of the Histogram to -0.1338. The current MACD and the Signal Line values are -0.5486 and -0.4148 respectively.

Momentum – The Momentum indicator has sunk deeper to -2.0500 from -1.6800.

Relative Strength Index – The 14-4h RSI reading continues to linger near yesterday’s level. At 44.7224, the indicator reveals that the market sentiment is still fairly bearish.

Topic: Bitcoin Price Technical Analysis (28/5/2015) (Read 1033 times)