Is this pivot and these supports correct?

dunfida

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Quote from: NotATether on August 19, 2020, 05:43:34 PM

Today I made a trading analysis where I speculated the BTC/USD price will go down if it trades below the pivot. But these numbers from Tradingview's technical analysis page don't seem right because it has been trading between $16000 and $24000 during the past few days. I'm interested in knowing how the support and pivot numbers were calculated since they they look off, but the resistance numbers seem to be OK, except for Fibonacci and Camarilla which strangely have an R1 below the current price.
The timeframe I'm using is 1 day so there's no way these numbers can be that low, unless these are different signals I haven't heard about.

You havent missed anything yet those pivots would surely come out and give out those numbers but those are just presumps in low level aspect no matter which timeframe you've been looking on.
The thing here is that it do shows the possible numbers on where it would be heading but since you do talk about 1-day tf then seeing even 8k price then its really hard to believe.
Why not just simply ignore and focus on R1? which would really be a decent choice.

palle11

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I don't really understand your analysis to the figures you have displayed. I don't know how long your expect that price will go down but on daily chart formation, the price seem down today and price has dropped to $11,400. On a longer chart, we can see a an up move because the drop can be a correction from the bull since two weeks ago.

NotATether

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Quote from: CucakRowo on August 22, 2020, 07:44:07 AM

So, what exchanges did you use in tradingview while creating your technical analysis?

I used the Bitstamp exchange for analyzing this stuff. Also the extra columns on the right are extraneous, I'm mainly concerned with the Classic column which I assume to be the normal supports and resistances. You can see in that column the supports and pivot were too low at the time. So it makes me doubt that Tradingview is showing me the correct data for its technical analysis.

Tradingview also has a function for support/resistance lines named Support/Resistance V2 Indicator I can add to graphs and it's showing the correct supports. It looks like this, adjusted to four days ago.

These support levels are ~$11850, $11700, nowhere near $9600 and $8000, so something is wrong with the technical analysis generated from Bitstamp data. Or it could be that the signals made by the pivot are correct but the pivot is just a really bad way to predict bitcoin prices.

Quote from: Coin_trader on August 22, 2020, 01:38:39 PM

BTC will correct below 10,200$ if the current ascending channel didn’t break above. I will send screenshot if you didn’t see what I’m describing.

Please do, that will help me understand what's going on. I can't seem to get the trend lines to display properly.

Coin_trader

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Quote from: NotATether on August 19, 2020, 05:43:34 PM

Today I made a trading analysis where I speculated the BTC/USD price will go down if it trades below the pivot. But these numbers from Tradingview's technical analysis page don't seem right because it has been trading between $16000 and $24000 during the past few days. I'm interested in knowing how the support and pivot numbers were calculated since they they look off, but the resistance numbers seem to be OK, except for Fibonacci and Camarilla which strangely have an R1 below the current price.

The timeframe I'm using is 1 day so there's no way these numbers can be that low, unless these are different signals I haven't heard about.

I’m using Exponential Moving Average 200 to determine support and based on your table, it’s showing a correct support line. Support line doesn’t mean price is bound to touch it. If you zoom out your chart, there is ascending channel that starts from march 20, 2020. BTC consistently touching the upper part of that ascending channel since July 27,2020.

BTC will correct below 10,200$ if the current ascending channel didn’t break above. I will send screenshot if you didn’t see what I’m describing.

CucakRowo

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aka JAGEND.

Could you clarify your question more specifically? Because with my tiny brain that i owned, i can't understand the point of your question.
Oh btw, based on my understanding. If you make fibo line between 2 exchanges, result can be different.

Coinbase

Bitfinex

So, what exchanges did you use in tradingview while creating your technical analysis?

NotATether

legendary

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bitcoincleanup.com / bitmixlist.org

Today I made a trading analysis where I speculated the BTC/USD price will go down if it trades below the pivot. But these numbers from Tradingview's technical analysis page don't seem right because it has been trading between $16000 and $24000 during the past few days. I'm interested in knowing how the support and pivot numbers were calculated since they they look off, but the resistance numbers seem to be OK, except for Fibonacci and Camarilla which strangely have an R1 below the current price.

The timeframe I'm using is 1 day so there's no way these numbers can be that low, unless these are different signals I haven't heard about.

Topic: Is this pivot and these supports correct? (Read 161 times)