Topic: Price chart patterns / my prediction (Read 651 times)
huh? So you're lines are predicting what exactly?
I find myself wasting a lot of time lately on bitcoinwisdom.com's line drawing feature. Basically I keep noticing patterns, drawing lines, seeing more patterns, drawing more lines, etc. Thought I'd just share this stuff with you guys.
Not sure if this is all coincidence or something else but some of these patterns just fit really well. On the other hand, I might just be subconsciously making these lines fit my own expectiations though.
disclaimer: I am no professional. This is not investment advice. You know what they say about past performance. Use your scroll bars if you find my screen resolution offensive.
Just don't take this stuff too seriously and don't draw any conclusions from my primitive line drawings.
For my last drawing, I started by looking at the MtGox charts and drawing some rough trend lines. Notice how all the peak are consistently spaced 213-237 (224 avg) days apart:
- https://i.imgur.com/yplXETA.png
Next I drew two lines with the same upward slope on the Bitstamp charts, and tried to find as many parallels as I could. From here I added some horizontal lines and fibonnaci fans. Wherever the lines intersect at an interesting point, I added a vertical line:
- https://i.imgur.com/lpozdX7.png
Also notice how this correlates with historical data:
- https://i.imgur.com/jQF97AG.png
For my price "prediction", I drew a horizontal line at $130 (where the last $1000 peak started) and noticed any intersecting points, then drew a line a $650 with similar intersections. Based on the last few rallies the price tends to stabilize around a certain point right before shooting up. If we'll see another sudden surge, I expect this either starts at $865, $650 or $500. Let's assume $650 for now and we'll get something like this:
- https://i.imgur.com/JraPP64.png
I some more drawings with different patterns but only saved a few of them. Whenever I find any more interesting patterns I'll drop them in this thread from now on
edit: horizontal line at $13.25 has some interesting intersections too: https://i.imgur.com/ONKgNcM.png
Not sure if this is all coincidence or something else but some of these patterns just fit really well. On the other hand, I might just be subconsciously making these lines fit my own expectiations though.
disclaimer: I am no professional. This is not investment advice. You know what they say about past performance. Use your scroll bars if you find my screen resolution offensive.
Just don't take this stuff too seriously and don't draw any conclusions from my primitive line drawings.
For my last drawing, I started by looking at the MtGox charts and drawing some rough trend lines. Notice how all the peak are consistently spaced 213-237 (224 avg) days apart:
- https://i.imgur.com/yplXETA.png
Next I drew two lines with the same upward slope on the Bitstamp charts, and tried to find as many parallels as I could. From here I added some horizontal lines and fibonnaci fans. Wherever the lines intersect at an interesting point, I added a vertical line:
- https://i.imgur.com/lpozdX7.png
Also notice how this correlates with historical data:
- https://i.imgur.com/jQF97AG.png
For my price "prediction", I drew a horizontal line at $130 (where the last $1000 peak started) and noticed any intersecting points, then drew a line a $650 with similar intersections. Based on the last few rallies the price tends to stabilize around a certain point right before shooting up. If we'll see another sudden surge, I expect this either starts at $865, $650 or $500. Let's assume $650 for now and we'll get something like this:
- https://i.imgur.com/JraPP64.png
I some more drawings with different patterns but only saved a few of them. Whenever I find any more interesting patterns I'll drop them in this thread from now on
edit: horizontal line at $13.25 has some interesting intersections too: https://i.imgur.com/ONKgNcM.png
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