In other news, bitcoin broke through an arbitrary line on a graph today. Film at 11.
Much of TA indeed is astrology and broken clocks. It's not that the methods themselves are bad, but many users of TA lack the statistical or scientific backing behind their arguments to make good predictions. It simply boils down to misuse of statistics. For example, what's the confidence interval on your downtrend channel hypothesis? How much of a "channel break" would you need for it to be statistically significant?
Topic: Channel breakout? (Read 1254 times)
Volume sucks. Everything happening now is noise.
hmm..
Ultra low volume, whilst trending down after a bounce from a crash that failed to take out any meaningful resistance levels.
....WhAt hApPeNs NeXt?
I hate technical analysis, when it does something unexpected, then new lines will be drawn and everyone will say that is makes sense. Its a nice retrospective tool though.
That's why I call it chart astrology. You can always twist it and reinterpret it until it says what you want it to say. Every now and then, someone gets a few guesses right in a row and is hailed as a prophet until things go the other way and then the cycle starts anew.
lol @ you
I hate technical analysis, when it does something unexpected, then new lines will be drawn and everyone will say that is makes sense. Its a nice retrospective tool though.
That's why I call it chart astrology. You can always twist it and reinterpret it until it says what you want it to say. Every now and then, someone gets a few guesses right in a row and is hailed as a prophet until things go the other way and then the cycle starts anew.
I hate technical analysis, when it does something unexpected, then new lines will be drawn and everyone will say that is makes sense. Its a nice retrospective tool though.
You should use log scale for building channels on such a volatile market
Something is happening here.
If doesn't happen with volume it's fake.
The indicator below the purple line speaks volumes about what's going on.
I would be convinced that the bear market is over once we break 900 
Still a while to go.
Still a while to go. 
Volume sucks. Everything happening now is noise.
Yep, but not on Stamp though 
What do you guys think? maybe a potential breakout of the channel.
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