Momentum Proves Weak OR Rising to 14,000$ - page 2.

DustyRah

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Quote from: Rozita on January 25, 2018, 02:55:45 PM

I don't think technical analysis work now. Bitcoin price is now affected by news and rumors and also the whales. Sudden rises and falls is not normal. We should wait until every thing become normal again.

TA (technical analysis) has always been a one sided coin (pun intended) since FA (fundamental analysis) appears to affect Bitcoin significantly.

richardsNY

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Quote from: Rozita on January 25, 2018, 02:55:45 PM

I don't think technical analysis work now.

It has never really worked. I have never even done any technical analysis because of how unpredictable an open market is. I just look at the market and try to make an as unbiased guess as possible about what might happen, where you just have to accept that the chance for it to be wrong is on the higher side. I believed that with how the market corrected last week, people would wire money to their exchanges, which then woud/should result in the market to bump up. Technically speaking it did, but my prediction was and still is that we reach $13-$14k this week. With how thin the current market is, it takes just a matter of minutes for a large player to lift the market significantly, so I'm still not backing off on my initial prediction.

Rozita

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I don't think technical analysis work now. Bitcoin price is now affected by news and rumors and also the whales. Sudden rises and falls is not normal. We should wait until every thing become normal again.

pereira4

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Quote from: tokeweed on January 25, 2018, 10:22:32 AM

I don't know why there's still some people who believe in Japanese candle sticks or market predictions based off of it for that matter. I mean it could interpret the paychology of the market and its players, but I don't think it's anything good for predicting on what would happen next...

The fact that other people care is proof of how technical analysis is relevant. If other people think that that analysis is a plausible outcome, the analysis is a potential self-fulfilling prophecy, and this is the basis for all technical analysis as far im concerned, in fact I cannot fathom any other reason as to why TA would predict anything.

tokeweed

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Life, Love and Laughter...

I don't know why there's still some people who believe in Japanese candle sticks or market predictions based off of it for that matter. I mean it could interpret the paychology of the market and its players, but I don't think it's anything good for predicting on what would happen next...

hugeblack

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Quote from: https://www.coindesk.com/bitcoin-bull-reversal-sighted-momentum-proves-weak/

4-hour chart

Quote from: https://www.coindesk.com/bitcoin-bull-reversal-sighted-momentum-proves-weak/

Only a high volume break above the trendline resistance on the 4-hour chart would add credence to the bullish doji reversal and open doors for a sustained move higher to $13,000 and $14,250.
On the other hand, rejection at the falling trendline followed by a high volume drop below $10,300 (rising trendline support on the 4 - hour chart) could yield re-test of last week's low of $9,005.
That said, only a daily close (as per UTC) below $10,391.02 (50 percent Fibonacci retracement of 2017 low to 2017 high) would revive the bearish outlook.[1]

Bullish doji reversal was confirmed yesterday but so far bitcoin has been unable to generate the follow through necessary to declare that the bottoming process is complete.[1]

Based on the analysis of the writer. What are your expectations for the price in the coming days Do you think that an adjustment of the corrections will occur or whether the price will rise?

[/quote]

Source: https://www.coindesk.com/bitcoin-bull-reversal-sighted-momentum-proves-weak/

Topic: Momentum Proves Weak OR Rising to 14,000$ - page 2. (Read 352 times)