i see a rise to 16 very possible, if not up to ~18
support is quite strong (shouldn't fall below 14)
Topic: [SHARE] Your Personal Analysis (only post with pictures) - page 3. (Read 20166 times)
here's my update with the nest resistances and supports
i see a rise to 16 very possible, if not up to ~18
support is quite strong (shouldn't fall below 14)
i see a rise to 16 very possible, if not up to ~18
support is quite strong (shouldn't fall below 14)
I see this "stable" zone since we've broken the parrallel uptrend channel as:
1. a correction:
if we hold the longest blue line and breake through 13.8-13.9 -> return to uptrend
or:
2. as a midterm top:
if we breake through the longest blue line there are the resistances:
- minor between 12.8-13.1
- major at 12 (green line from altime high)
but longterm the uptrend looks still intact so after a short decent i expect remaining uptrend!
(longest blue line comes from the bottom of 20.08.12)
IMO option 2 looks more possible...what are your thoughts?
1. a correction:
if we hold the longest blue line and breake through 13.8-13.9 -> return to uptrend
or:
2. as a midterm top:
if we breake through the longest blue line there are the resistances:
- minor between 12.8-13.1
- major at 12 (green line from altime high)
but longterm the uptrend looks still intact so after a short decent i expect remaining uptrend!
(longest blue line comes from the bottom of 20.08.12)
IMO option 2 looks more possible...what are your thoughts?
I agree with this 100%
I believe bitcoin is still in "price discovery mode" no one really knows what its worth to everyone else, everyone is scared of huge players sitting on mountains of coins just waiting to crash the market. no one wants to drive the price up, but at the same time everyone wants a piece of the action. I see option 2 as very likely, we all need to see how the market reacts to a slow price drop, we all need to see just how strong support at 12$ really is, b4 we blast off. i believe we will blast off because the truth is no one is sitting a huge mountains of coins, and if they are they have no intention to crash the market, EVER. So let the price drop and lets get the show on the road!
looks like its going for option 1
upper blue horizontal line broken
I see this "stable" zone since we've broken the parrallel uptrend channel as:
1. a correction:
if we hold the longest blue line and breake through 13.8-13.9 -> return to uptrend
or:
2. as a midterm top:
if we breake through the longest blue line there are the resistances:
- minor between 12.8-13.1
- major at 12 (green line from altime high)
but longterm the uptrend looks still intact so after a short decent i expect remaining uptrend!
(longest blue line comes from the bottom of 20.08.12)
IMO option 2 looks more possible...what are your thoughts?
1. a correction:
if we hold the longest blue line and breake through 13.8-13.9 -> return to uptrend
or:
2. as a midterm top:
if we breake through the longest blue line there are the resistances:
- minor between 12.8-13.1
- major at 12 (green line from altime high)
but longterm the uptrend looks still intact so after a short decent i expect remaining uptrend!
(longest blue line comes from the bottom of 20.08.12)
IMO option 2 looks more possible...what are your thoughts?
I agree with this 100%
I believe bitcoin is still in "price discovery mode" no one really knows what its worth to everyone else, everyone is scared of huge players sitting on mountains of coins just waiting to crash the market. no one wants to drive the price up, but at the same time everyone wants a piece of the action. I see option 2 as very likely, we all need to see how the market reacts to a slow price drop, we all need to see just how strong support at 12$ really is, b4 we blast off. i believe we will blast off because the truth is no one is sitting a huge mountains of coins, and if they are they have no intention to crash the market, EVER. So let the price drop and lets get the show on the road!
I see this "stable" zone since we've broken the parrallel uptrend channel as:
1. a correction:
if we hold the longest blue line and breake through 13.8-13.9 -> return to uptrend
or:
2. as a midterm top:
if we breake through the longest blue line there are the resistances:
- minor between 12.8-13.1
- major at 12 (green line from altime high)
but longterm the uptrend looks still intact so after a short decent i expect remaining uptrend!
(longest blue line comes from the bottom of 20.08.12)
IMO option 2 looks more possible...what are your thoughts?
1. a correction:
if we hold the longest blue line and breake through 13.8-13.9 -> return to uptrend
or:
2. as a midterm top:
if we breake through the longest blue line there are the resistances:
- minor between 12.8-13.1
- major at 12 (green line from altime high)
but longterm the uptrend looks still intact so after a short decent i expect remaining uptrend!
(longest blue line comes from the bottom of 20.08.12)
IMO option 2 looks more possible...what are your thoughts?
it seams to be a minor accumulation, confirmation come when the low is taken out
line broken:
price and accumulation/distribution divergence 1h chart
possible targets if we get a break-out with big volume 60 min chart
http://yfrog.com/kj4ulep
http://yfrog.com/kj4ulep
bulls is now or never
Doesnt look like a particularly (i.e. well tested) resistance. The support however is much battle-tested. Should go to 20$ soon
Something to recall when considering triangle formations is that they tend to breakout dramatically. In my chartist opinion, we're looking at a long-term ascending triangle.
Reference: http://www.investopedia.com/terms/a/ascendingtriangle.asp#axzz2EmTEbeFx
One of the reasons I love charting BTC is that it traces out the 'classic' chartist patterns - unlike the current high-frequency trading saturated markets now.
Reference: http://www.investopedia.com/terms/a/ascendingtriangle.asp#axzz2EmTEbeFx
One of the reasons I love charting BTC is that it traces out the 'classic' chartist patterns - unlike the current high-frequency trading saturated markets now.
bulls is now or never
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Wow. Probably a good time to short. Looks like we're going back down to around $1.
http://www.youtube.com/watch?v=Lzl5t1Sracc&t=0m33s
bulls is now or never
Wow. Probably a good time to short. Looks like we're going back down to around $1.
bulls is now or never
I just made two charts for a friend, so I can as well just post them here:
http://bitcoincharts.com/charts/mtgoxUSD#rg120zigDailyztgSzbgBzm1g10zm2g25zi2gRSIzvzcvzl
https://ferroh.com/chart
The first chart shows some severely low volumes at rising prices. A correction to more stable levels is immanent, unless volumes rise up shortly. The target area is 12$ (weaker support) to 11$ (stronger support). I would say chances are 85% for a soon drop versus 15% chance that we make it above 13$ and stay there for a couple o days at least.
The second chart illustrates the text book double top, that would form if a price drop occurred. In such a pattern, prices drop to levels where they commenced the pattern (around 11$ in our case).
Above all, the upward triangle shows from 9.77$ to 13$. I doubt that we will break it with this attempt, but rather sometime within the this month (could be the best christmas present yet;)
http://bitcoincharts.com/charts/mtgoxUSD#rg120zigDailyztgSzbgBzm1g10zm2g25zi2gRSIzvzcvzl
https://ferroh.com/chart
The first chart shows some severely low volumes at rising prices. A correction to more stable levels is immanent, unless volumes rise up shortly. The target area is 12$ (weaker support) to 11$ (stronger support). I would say chances are 85% for a soon drop versus 15% chance that we make it above 13$ and stay there for a couple o days at least.
The second chart illustrates the text book double top, that would form if a price drop occurred. In such a pattern, prices drop to levels where they commenced the pattern (around 11$ in our case).
Above all, the upward triangle shows from 9.77$ to 13$. I doubt that we will break it with this attempt, but rather sometime within the this month (could be the best christmas present yet;)
I think its save to say: "The volume has returned and we can continue our rally without fear!"
http://twitter.yfrog.com/z/hwb8nhp
special thx to RyNinDaCleM for pointing my failure on wave B
special thx to RyNinDaCleM for pointing my failure on wave B
Keep in mind that most technical indicators based on price tend to look like the price action they are applied to, except they are 'detrended' or normalized around a common 'zero' point. This is why you get 'oversold' or 'overbought' conditions - which really don't help at all.
A real indicator doesn't get pegged at the extremes, beware of the ones that do - they're pretty much useless.
A real indicator doesn't get pegged at the extremes, beware of the ones that do - they're pretty much useless.
I find RSI, for example, which makes a perfect poster oscillator, very helpful. Keep in mind to NOT only rely on oscillators (those indicators that oscillate around a zero value)! Always put them into context and combine them with other indicators, chart patterns, etc.
What gives many ppl the idea indicators wouldnt be worth much is that they apply them only or use them wrongly. The RSI for example appears to predict the market very well at first, till you realise it always lags price movement. Nevertheless is it a great tool to pick entry- and exit points. Compare an arbitrarily large time frame with reasonable intervals and you will see, the RSI mostly predicts good entry and exit opportunities.
I've spent a good deal of my life developing trading systems for various markets. I used to do so on the actual trading floor, then moved to off-floor for other opportunities. I see your point about RSI, you recognize its characteristics and if you can weave that into a system you're familiar with, good for you.
My point revolves largely on indicators that are predictive, not reactive. Yes, they exist, and no - I'm not about to expose what works (it took a LOT of iterations to get where I am right now). Suffice to say, there are things in price action that can be used for predictive purposes that exceed random 'chance' correlations. I'm not claiming perfect performance, but enough of an 'edge' that can be used in an automated strategy.
That is why when I see an indicator lagging or merely displaying price-influenced characteristics quite transparently (Peaks when price peaks, turns down when price turns down) -- I'm immediately cued into the fact that I'm dealing with a simple formulaic projection of price that provides zero predictive power.
Keep in mind that most technical indicators based on price tend to look like the price action they are applied to, except they are 'detrended' or normalized around a common 'zero' point. This is why you get 'oversold' or 'overbought' conditions - which really don't help at all.
A real indicator doesn't get pegged at the extremes, beware of the ones that do - they're pretty much useless.
A real indicator doesn't get pegged at the extremes, beware of the ones that do - they're pretty much useless.
I find RSI, for example, which makes a perfect poster oscillator, very helpful. Keep in mind to NOT only rely on oscillators (those indicators that oscillate around a zero value)! Always put them into context and combine them with other indicators, chart patterns, etc.
What gives many ppl the idea indicators wouldnt be worth much is that they apply them only or use them wrongly. The RSI for example appears to predict the market very well at first, till you realise it always lags price movement. Nevertheless is it a great tool to pick entry- and exit points. Compare an arbitrarily large time frame with reasonable intervals and you will see, the RSI mostly predicts good entry and exit opportunities.
Keep in mind that most technical indicators based on price tend to look like the price action they are applied to, except they are 'detrended' or normalized around a common 'zero' point. This is why you get 'oversold' or 'overbought' conditions - which really don't help at all.
A real indicator doesn't get pegged at the extremes, beware of the ones that do - they're pretty much useless.
A real indicator doesn't get pegged at the extremes, beware of the ones that do - they're pretty much useless.
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