The next 24 days are critical - page 3.

uki

legendary

Activity: 1358

Merit: 1000

cryptojunk bag holder

Quote from: Shiver on April 05, 2015, 09:25:52 AM

Quote

RSI at the chart you presented favours the negative solution (to the downside).

I get what you're saying, but RSI isn't a predictive indicator. It could bounce around in the upper margin for an extended period if it wanted to. I'm not saying it is a useless indicator, but that its use isn't in prediction, more for rule of thumb value measurement at best.

sure it may. Have a look at the same chart at the end of 2013. RSI stayed for quite a long in the overbought area.
The difference is however, we didn't have the negative RSI we have on the chart now.

Shiver

sr. member

Activity: 248

Merit: 252

Quote

RSI at the chart you presented favours the negative solution (to the downside).

I get what you're saying, but RSI isn't a predictive indicator. It could bounce around in the upper margin for an extended period if it wanted to. I'm not saying it is a useless indicator, but that its use isn't in prediction, more for rule of thumb value measurement at best.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Quote from: uki on April 05, 2015, 07:43:56 AM

Quote from: tokeweed on April 05, 2015, 05:18:25 AM

Quote from: redsn0w on April 05, 2015, 05:05:17 AM

Who care if bitcoin will drop under 200 dollars? Do you want a stable price or only a pump & dump scheme , like all the altcoins?

You're right. We have been waiting for a stable Bitcoin. Now we have it.

Stable? Well, I would rather say we are slowly reversing the down trend from the last year. We are now, indeed, in the horizontal trend, limited in between $200 and $300 roughly. If that is what you call stable, then we are stable.

The range could get narrower and narrower though...

Luthier

member

Activity: 73

Merit: 15

Extended periods of price stability are not possible now with Bitcoin. Too many people know about it.

As soon as people see a stable price the thought process goes: "Hmm this thing is looking pretty stable, maybe trending up slightly... this looks like a good investment, time to buy." "Buy?" "BUY??!" "BUUYYYY!!!" There goes the stability...

Staying flat at $250 is not an option and we will be forced out of the triangle shown above within the next few weeks (maybe sooner).

uki

legendary

Activity: 1358

Merit: 1000

cryptojunk bag holder

Quote from: tokeweed on April 05, 2015, 05:18:25 AM

Quote from: redsn0w on April 05, 2015, 05:05:17 AM

Who care if bitcoin will drop under 200 dollars? Do you want a stable price or only a pump & dump scheme , like all the altcoins?

You're right. We have been waiting for a stable Bitcoin. Now we have it.

Stable? Well, I would rather say we are slowly reversing the down trend from the last year. We are now, indeed, in the horizontal trend, limited in between $200 and $300 roughly. If that is what you call stable, then we are stable.

erikalui

legendary

Activity: 2632

Merit: 1094

I don't think that if bitcoin is stable at $230 till the end of this month, the price will rise in May. It will most probably decrease and reach $200 but the price fluctuations last for a week or two. It was above $290 last month, $240 last week and now it is stable at $255. It will again reach that amount $270-$280 in the coming months if I follow the chart.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Quote from: redsn0w on April 05, 2015, 05:05:17 AM

Who care if bitcoin will drop under 200 dollars? Do you want a stable price or only a pump & dump scheme , like all the altcoins?

You're right. We have been waiting for a stable Bitcoin. Now we have it.

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Who care if bitcoin will drop under 200 dollars? Do you want a stable price or only a pump & dump scheme , like all the altcoins?

uki

legendary

Activity: 1358

Merit: 1000

cryptojunk bag holder

Quote from: Luthier on April 04, 2015, 06:18:30 PM

IMO these are the only 3 lines you need to draw.
The convergence of the uptrend and the top of the downtrend channel will happen around April 26th or so.
If we are above $230 at the end of the month, uptrend is confirmed. If we are below $230, say hello to the bottom of the channel soon (high double digits).
Thoughts?
-snip-

RSI at the chart you presented favours the negative solution (to the downside).

WhatTheGox

legendary

Activity: 812

Merit: 1000

Quote from: Luthier on April 04, 2015, 06:18:30 PM

IMO these are the only 3 lines you need to draw.
The convergence of the uptrend and the top of the downtrend channel will happen around April 26th or so.
If we are above $230 at the end of the month, uptrend is confirmed. If we are below $230, say hello to the bottom of the channel soon (high double digits).
Thoughts?

Many people saying april is important so must be seeing the same patterns. I think we are in an uptrend as everyone wants to buy bitcoin under $200.

unsoindovo

legendary

Activity: 1932

Merit: 1042

https://locktrip.com/?refId=40964

For the long run it is sufficient an avg daily 200. but this can help you just for the long run.

TheNewAnon135246

legendary

Activity: 2198

Merit: 1989

฿uy ฿itcoin

Quote from: tokeweed on April 05, 2015, 02:13:51 AM

Murphy's Law. Whatever can happen will happen. Just know what to do when it does.

Exactly. A lot of people draw random lines on a graph and tell us it will either go up or down. Not exactly a great prediction :/.

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Murphy's Law. Whatever can happen will happen. Just know what to do when it does.

Q7

sr. member

Activity: 448

Merit: 250

It looks more like this to me. What do you guys think?

But I agree with OP that the couple of weeks ahead could be very exciting. If you look at the graph, the market has not really confirmed on the direction it is moving. It's either we will see the worst of the worst or finally something new with a reversal in the pattern.

randy8777

legendary

Activity: 896

Merit: 1000

so, basically it means that the price will go either up or down. which is already the case without reviewing charts.
i'm only not so sure about the double digits. i have the feeling we will never see double digits ever again.

dasource

hero member

Activity: 821

Merit: 1000

Quote from: Luthier on April 04, 2015, 06:18:30 PM

IMO these are the only 3 lines you need to draw.
The convergence of the uptrend and the top of the downtrend channel will happen around April 26th or so.
If we are above $230 at the end of the month, uptrend is confirmed. If we are below $230, say hello to the bottom of the channel soon (high double digits).
Thoughts?

If only it was that simple ... Good to see different opinions none the less. Thanks

Inotanewbie

sr. member

Activity: 252

Merit: 250

www.CloudThink.IO

Quote from: Bitcoiner_cph on April 04, 2015, 07:11:47 PM

So from your analysis, no matter if we are above or below 230 at the end of the month, then we are in uptrend/bull-market?? Why didnt you just say that the price will go up??

Not that I really understand your arguments???

No if you read what he wrote properly you would see he is saying if we are above '230' he thinks it is a confirmed uptrend, if it is below 230 then we will be free falling to high double digits. That was really quite clear if you read what he wrote Cheesy

I think we will be confirming your theory of a uptrend on the 26th of April. Well i hope so lol

Bitcoiner_cph

full member

Activity: 160

Merit: 100

So from your analysis, no matter if we are above or below 230 at the end of the month, then we are in uptrend/bull-market?? Why didnt you just say that the price will go up??

Not that I really understand your arguments???

Luthier

member

Activity: 73

Merit: 15

IMO these are the only 3 lines you need to draw.
The convergence of the uptrend and the top of the downtrend channel will happen around April 26th or so.
If we are above $230 at the end of the month, uptrend is confirmed. If we are below $230, say hello to the bottom of the channel soon (high double digits).
Thoughts?

Topic: The next 24 days are critical - page 3. (Read 3644 times)