Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23421. (Read 26713285 times)
January 17, 2015, 03:13:50 PM
January 17, 2015, 03:12:16 PM
Everything about this screams indecision! Whichever way we break, it'll be massive.
January 17, 2015, 03:05:08 PM
?
At least on the basis of equity markets, descending triangle patterns break to the downside 64% of the time but that doesn't mean it can't break to the upside. Looks more like a wedge though from the swing lows.
Whatever it is, you need to take into account the market background and not simply draw lines around arbitrary support/resistance points and look for pattern matches at investopedia. That is not good TA. The background is that we had a reversal with record volume. That means a lot more than triangles, and is potentially very bullish. Super risky to short this.
$ 200 is not arbitrary. Pattern matches are very common in BTC price movement. It is not my fault. That is just how it is. You can draw 100 lines and this simple 2 lines could work fine. The rest of it is not on the chart -- its my gut feel and all the research i have shoved up in my head. I find simple things to work incredibly.
And btw, sometimes this triangle breaks to the upside.
January 17, 2015, 03:04:34 PM
January 17, 2015, 03:03:09 PM
Buy buy buy buy buy buy
January 17, 2015, 03:01:55 PM
According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
can i quote you on this Mr. / Mrs.?
January 17, 2015, 03:00:07 PM
Bulls can't even keep the price above 200.
Weak.
Weak.
You mean
bears can't even push the price below 200
Don't want you tasty cattle to get spooked and run away, we bears have cubs to feed...
January 17, 2015, 02:59:59 PM
January 17, 2015, 02:59:43 PM
According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
can i quote you on this Mr. / Mrs.?
January 17, 2015, 02:58:25 PM
?
At least on the basis of equity markets, descending triangle patterns break to the downside 64% of the time but that doesn't mean it can't break to the upside. Looks more like a wedge though from the swing lows.
Whatever it is, you need to take into account the market background and not simply draw lines around arbitrary support/resistance points and look for pattern matches at investopedia. That is not good TA. The background is that we had a reversal with record volume. That means a lot more than triangles, and is potentially very bullish. Super risky to short this.
January 17, 2015, 02:55:25 PM
According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
Oh great...I just sold my stash...couldn't you have told me this sooner?
It's going to take 3 days for me to make a bank transfer.
Do you think it will stay at 200 until then?
This is just my opinion, maybe your strategy is better, so relax. January 17, 2015, 02:53:55 PM
According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
Oh great...I just sold my stash...couldn't you have told me this sooner?
It's going to take 3 days for me to make a bank transfer.
Do you think it will stay at 200 until then?
January 17, 2015, 02:53:48 PM
January 17, 2015, 02:52:52 PM
We're testing the bottom of the trendline established at the $152 bottom. It'll be interesting to see whether we fall through, test on volume, or continue rising just enough to avoid the heavy volume test.
I am guessing it will be the final option, as we seem to currently be stuck in indecision while digesting everything that has (and hasn't) happened over the past few days.
January 17, 2015, 02:51:51 PM
According to my research based on mining cost, general interest (not based on exchanges data or Google stats), shy TA divergence and a few things from my trading methodology, from this point we are going up.
January 17, 2015, 02:51:35 PM
Bulls can't even keep the price above 200.
Weak.
Weak.
they're trying. within acceptable range +/-
January 17, 2015, 02:51:17 PM
Bulls can't even keep the price above 200.
Weak.
Weak.
You mean
bears can't even push the price below 200
January 17, 2015, 02:50:56 PM
I just sell 0.1 bitcoin for 197.6 is this mistake ?
January 17, 2015, 02:49:58 PM
Bulls can't even keep the price above 200.
Weak.
Weak.
Jump to: