The problem with most indicators is they're usually normalized price fluctuations - and therefore, complete crap.
Look at the MACD, and the rest of it. Hey, it goes up when price goes up, and goes down when price goes down. Seems like trying to trade off an echo, eh?
Ridiculous.
Topic: Price holding super-steady: launchpad formation or thin ice? - page 2. (Read 2190 times)
Looks like a top to me too, and it would have been, if not for the 4500 wall at 27.
The peaks have rounded tops!!
Demand will fall and price hold or dip. The swedes know that price can't go up forever without a decline in demand.
This graph is not a joke. It shows an adoptation cycle from the start until prices catch up and demand levels stop their exponential growth and levels off.
Technology advances in energy production end the downturns in the exponential curve along the way, much like Bitcoin.
If you have a webshop accepting Bitcoin, I bet you have to sell at a 50% discount in Bitcoin. Too fast a rising price is really a business killer. If you want to buy a Porshe for Bitcoins, you could also wait a month and buy a Ferrari instead!
The peaks have rounded tops!!
Demand will fall and price hold or dip. The swedes know that price can't go up forever without a decline in demand.
This graph is not a joke. It shows an adoptation cycle from the start until prices catch up and demand levels stop their exponential growth and levels off.
Technology advances in energy production end the downturns in the exponential curve along the way, much like Bitcoin.
If you have a webshop accepting Bitcoin, I bet you have to sell at a 50% discount in Bitcoin. Too fast a rising price is really a business killer. If you want to buy a Porshe for Bitcoins, you could also wait a month and buy a Ferrari instead!
All you people have been staring at the charts way too much the last couple of years. Everybody here seems to think that a "healthy" correction is due. And I bet that $27 sounds expensive to most of you who have a base price of say $5. You guys need to cut off that linear thinking. Everything right now is pointing at bitcoin becoming widely adopted on the internet and when that happens, $27 for a bitcoin is NOTHING. Real bitcoin adoption is not going to adhere to some silly indicator saying that we're overbought. I'm fully convinced that this is the last stop for everybody who wanted to make a quick buck to get out.
to me it looks like bulls gathering breath before breaking an all time high. but it may not happen immediately, won't be surprised if we correct to ~$21 first (you can see strong support there).
this is a healthy and realistic target.
to me it looks like bulls gathering breath before breaking an all time high. but it may not happen immediately, won't be surprised if we correct to ~$21 first (you can see strong support there).
i've been saying reversal since before the knife. the knife was the signal. ice seems pretty thin to me...
on the 6-HR scale:
-- bearish MACD crossover
-- Mass Index falling rapidly, meaning we're in reversal territory
-- double top in the upper range of the DPO, ripe for a downside correction.
-=====-
as for the tight trading range, it's just the market consolidating after the last big move, trying to make up its mind if it's 'ready' to correct yet.
on the 6-HR scale:
-- bearish MACD crossover
-- Mass Index falling rapidly, meaning we're in reversal territory
-- double top in the upper range of the DPO, ripe for a downside correction.
-=====-
as for the tight trading range, it's just the market consolidating after the last big move, trying to make up its mind if it's 'ready' to correct yet.
Anyone have a technical view on this tight trading range since the big announcements (reddit+Mega)?
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