Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32989.

rdsc

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Quote from: phoenix1 on June 12, 2013, 07:37:56 PM

Funny thing is, many of the people who deride TA here will quite happily make statements such as
'sideways consolidation usually leads to a breakout and rally in Bitcoin as people realise its not going to go down and buy in'
or 'it's coiling up like a spring and the pressure is building'
or 'there's no volume ... I don't trust it'

That is TA Cheesy

Just expressed in a slightly different language ...
Or to put it another way, that is the emotion behind the price action that forms the patterns that we see repeat again and again on different levels

So does "the Bear is pushing the Bull down to the bottom of the hill because he's got a poorly leg" count as TA?

phoenix1

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Funny thing is, many of the people who deride TA here will quite happily make statements such as
'sideways consolidation usually leads to a breakout and rally in Bitcoin as people realise its not going to go down and buy in'
or 'it's coiling up like a spring and the pressure is building'
or 'there's no volume ... I don't trust it'

That is TA Cheesy

Just expressed in a slightly different language ...
Or to put it another way, that is the emotion behind the price action that forms the patterns that we see repeat again and again on different levels

EDIT : Just seen what you posted 10c ... I agree. The greatest danger is to stick to only one way of viewing things and to close your mind to all others

10c

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Quote from: ?? on ??

Quote from: 10c on June 12, 2013, 06:42:46 PM

Funny how perma bulls turn bear isn't it?
Do you have any interesting theory as to why we won't go below that?
Some nice TA or other stuff?
Even though I don't always agree with it I like to learn from you guys and find it interesting.
I also don't quite understand how conventional TA is applied to BTC.
Mainly because this is a relatively new market and most people factor out the continuously changing parameters and circumstances which you don't have in 'old' markets.

As BTC started to go hyperbolic, Businessinsider.com was posting daily updates of its price. They also posted about its crash. Businessinsider, I would imagine, gets a lot of its web traffic from people in the business/finance world. The kind of people that love making money and invest/trade in equities. The founder of the site, Henry Blodget, used to be an equity research analyst on Wall Street during the tech bubble era many years ago. He even wrote an article about Bitcoin saying how a $1000 price target may happen one day and it may be worth the risk to invest.

My point is, a lot of speculators may have been exposed to Bitcoin for the first time by reading these articles on BI. I'm sure a lot of these speculators also use TA. As more and more people apply TA to BTC, TA will become more practical. It is kind of like a self-fulfilling prophecy as people have said.

Don't get me wrong; I don't dismiss TA as not being valuable. I just think that it clouds your vision if you factor out important parameters (not always known at this point). Some just factor stuff out because it doen't suit their view.
My father used to say: accurate predictions are difficult, especially when they involve the future.

MAbtc

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Quote from: ?? on ??

As BTC started to go hyperbolic, Businessinsider.com was posting daily updates of its price. They also posted about its crash. Businessinsider, I would imagine, gets a lot of its web traffic from people in the business/finance world. The kind of people that love making money and invest/trade in equities. The founder of the site, Henry Blodget, used to be an equity research analyst on Wall Street during the tech bubble era many years ago. He even wrote an article about Bitcoin saying how a $1000 price target may happen one day and it may be worth the risk to invest.

My point is, a lot of speculators may have been exposed to Bitcoin for the first time by reading these articles on BI. I'm sure a lot of these speculators also use TA. As more and more people apply TA to BTC, TA will become more practical. It is kind of like a self-fulfilling prophecy as people have said.

How big is BusinessInsider? IIRC, they are pretty damn fringe. I remember reading a lot of them back when I was an agorist a few years ago. The same people who I'd see posting BI articles were posting shit from Alex Jones, etc..... not really the finance crowd. More so the fringe anti-government crowd (more or less the niche that bitcoin already occupies). Obviously this is just anecdotal, though.

Quote from: 10c on June 12, 2013, 06:42:46 PM

I also don't quite understand how conventional TA is applied to BTC.
Mainly because this is a relatively new market and most people factor out the continuously changing parameters and circumstances which you don't have in 'old' markets.

Can you elaborate as to how this would negate the effects of TA? Being a relatively new market does not mean that price movement cannot be analyzed. On the contrary, we are constantly seeing familiar retracements in the BTC market.

Coinseeker

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Quote from: rdsc on June 12, 2013, 07:10:32 PM

Quote from: Coinseeker on June 12, 2013, 07:05:20 PM

Quote from: adamstgBit on June 12, 2013, 06:46:43 PM

TA is for day traders looking to find a way to "scrap pennies"
you need to take a step back and look at what has happened, and what you think will happen(and i don't mean price action...), and how that will affect bitcoins price.
draw triangle all you want, if max keiser runs out of blow, we're going up!

I wouldn't consider it pennies but what's the point of coming to this thread or watching markets at all, if you're not day trading? Might as well just get a cold wallet, and check in every year or so.

SATAN!!

Whew....that's better. Grin

adamstgBit

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Quote from: 10c on June 12, 2013, 07:23:48 PM

Yes I think IT WILL happen, just not now till we have decent infra and descent market cap.
But if a major VC will adopt it will change things very swiftly. practically overnight. meaning if it happened now at this point in time,
we will be seeing 4 figures within a day or 2. But for this to happen we need to build the economy beyond the so hatted phrase by many 'Silk Road economy'
That's one of the reasons I'm now building/implementing payment systems for BTC. Every vendor/shop/person that uses BTC helps create the basic support we need. It's not only the big fish we need, we need the small fish as bait.

yes waiting for lower prices seems like a gr8 idea.

rdsc

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Quote from: 10c on June 12, 2013, 07:23:48 PM

... we need the small fish as bait.

Not quite selling it to me there...

10c

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Yes I think IT WILL happen, just not now till we have decent infra and descent market cap.
But if a major VC will adopt it will change things very swiftly. practically overnight. meaning if it happened now at this point in time,
we will be seeing 4 figures within a day or 2. But for this to happen we need to build the economy beyond the so hatted phrase by many 'Silk Road economy'
That's one of the reasons I'm now building/implementing payment systems for BTC. Every vendor/shop/person that uses BTC helps create the basic support we need. It's not only the big fish we need, we need the small fish as bait.

adamstgBit

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Quote from: 10c on June 12, 2013, 07:08:03 PM

Quote from: adamstgBit on June 12, 2013, 06:46:43 PM

Quote from: 10c on June 12, 2013, 06:42:46 PM

Quote from: adamstgBit on June 12, 2013, 06:34:05 PM

Quote from: 10c on June 12, 2013, 06:31:43 PM

So we all agree 50 is a bargain/on track for now?
I too don't believe we will be seeing 30

I think you bearish bulls would be lucky to see 99$

Funny how perma bulls turn bear isn't it?
Do you have any interesting theory as to why we won't go below that?
Some nice TA or other stuff?
Even though I don't always agree with it I like to learn from you guys and find it interesting.
I also don't quite understand how conventional TA is applied to BTC.
Mainly because this is a relatively new market and most people factor out the continuously changing parameters and circumstances which you don't have in 'old' markets.

TA is for day traders looking to find a way to "scrap pennies"
you need to take a step back and look at what has happened, and what you think will happen(and i don't mean price action...), and how that will affect bitcoins price.
draw triangle all you want, if max keiser runs out of blow, we're going up!

So how far have you zoomed out? I mean regarding timespan?
We all know that if one major player accepts BTC this will cause adoption and infrastructure to become available and make BTC skyrocket.
Most of us see manny 0000 added on the correct side

so what you think that will never happen?

BTCThousandaire

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How many of you have heard of the price manipulation caused by this guy this weekend?
https://twitter.com/fontase

samson

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Quote from: adamstgBit on June 12, 2013, 06:34:05 PM

Quote from: 10c on June 12, 2013, 06:31:43 PM

So we all agree 50 is a bargain/on track for now?
I too don't believe we will be seeing 30

I think you bearish bulls would be lucky to see 99$

I agree - it will only be a fleeting glance and will perhaps last a few seconds at $99.xx as we move down to new lows.

rdsc

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Activity: 42

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Quote from: Coinseeker on June 12, 2013, 07:05:20 PM

Quote from: adamstgBit on June 12, 2013, 06:46:43 PM

TA is for day traders looking to find a way to "scrap pennies"
you need to take a step back and look at what has happened, and what you think will happen(and i don't mean price action...), and how that will affect bitcoins price.
draw triangle all you want, if max keiser runs out of blow, we're going up!

I wouldn't consider it pennies but what's the point of coming to this thread or watching markets at all, if you're not day trading? Might as well just get a cold wallet, and check in every year or so.

SATAN!!

http://s24.postimg.org/n7dxntoh1/Screen_Shot016.jpg

10c

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Quote from: adamstgBit on June 12, 2013, 06:46:43 PM

Quote from: 10c on June 12, 2013, 06:42:46 PM

Quote from: adamstgBit on June 12, 2013, 06:34:05 PM

Quote from: 10c on June 12, 2013, 06:31:43 PM

So we all agree 50 is a bargain/on track for now?
I too don't believe we will be seeing 30

I think you bearish bulls would be lucky to see 99$

Funny how perma bulls turn bear isn't it?
Do you have any interesting theory as to why we won't go below that?
Some nice TA or other stuff?
Even though I don't always agree with it I like to learn from you guys and find it interesting.
I also don't quite understand how conventional TA is applied to BTC.
Mainly because this is a relatively new market and most people factor out the continuously changing parameters and circumstances which you don't have in 'old' markets.

TA is for day traders looking to find a way to "scrap pennies"
you need to take a step back and look at what has happened, and what you think will happen(and i don't mean price action...), and how that will affect bitcoins price.
draw triangle all you want, if max keiser runs out of blow, we're going up!

So how far have you zoomed out? I mean regarding timespan?
We all know that if one major player accepts BTC this will cause adoption and infrastructure to become available and make BTC skyrocket.
Most of us see manny 0000 added on the correct side

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: adamstgBit on June 12, 2013, 06:46:43 PM

TA is for day traders looking to find a way to "scrap pennies"
you need to take a step back and look at what has happened, and what you think will happen(and i don't mean price action...), and how that will affect bitcoins price.
draw triangle all you want, if max keiser runs out of blow, we're going up!

I wouldn't consider it pennies but what's the point of coming to this thread or watching markets at all, if you're not day trading? Might as well just get a cold wallet, and check in every year or so.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

rdsc

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Quote from: ?? on ??

Quote from: rdsc on June 12, 2013, 06:44:42 PM

My deeply considered TA

http://s12.postimg.org/kw6jzjbzx/Bear_Pushing.jpg

The caring bear ... how cute Cheesy

Well we're all in this together!

adamstgBit

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Trusted Bitcoiner

Quote from: 10c on June 12, 2013, 06:42:46 PM

Quote from: adamstgBit on June 12, 2013, 06:34:05 PM

Quote from: 10c on June 12, 2013, 06:31:43 PM

So we all agree 50 is a bargain/on track for now?
I too don't believe we will be seeing 30

I think you bearish bulls would be lucky to see 99$

Funny how perma bulls turn bear isn't it?
Do you have any interesting theory as to why we won't go below that?
Some nice TA or other stuff?
Even though I don't always agree with it I like to learn from you guys and find it interesting.
I also don't quite understand how conventional TA is applied to BTC.
Mainly because this is a relatively new market and most people factor out the continuously changing parameters and circumstances which you don't have in 'old' markets.

TA is for day traders looking to find a way to "scrap pennies"
you need to take a step back and look at what has happened, and what you think will happen(and i don't mean price action...), and how that will affect bitcoins price.
draw triangle all you want, if max keiser runs out of blow, we're going up!

rdsc

newbie

Activity: 42

Merit: 0

My deeply considered TA

http://s12.postimg.org/kw6jzjbzx/Bear_Pushing.jpg

Pale Phoenix

sr. member

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Merit: 250

Quote from: 10c on June 12, 2013, 06:10:45 PM

No probs, I will buy it anyway within 5 years with or without bitcoin Wink

You're still pretty young I think, and since aren't asking for advice... I'm going to give it to you anyway. :-)

Take it from someone a little older, cars and fast living won't make you nearly as happy as building up your capital so that you never have to take shit from a boss or a client again. I chased that fast life in LA for years and thought all the toys made the bullshit worth it, but man, when you have freedom, real freedom, to do what you want, when you want... you'll wonder why you ever parted with a penny that didn't have a return attached to it.

If fast cars are your thing, buy one after you build enough capital to never have to work again.

10c

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Quote from: adamstgBit on June 12, 2013, 06:34:05 PM

Quote from: 10c on June 12, 2013, 06:31:43 PM

So we all agree 50 is a bargain/on track for now?
I too don't believe we will be seeing 30

I think you bearish bulls would be lucky to see 99$

Funny how perma bulls turn bear isn't it?
Do you have any interesting theory as to why we won't go below that?
Some nice TA or other stuff?
Even though I don't always agree with it I like to learn from you guys and find it interesting.
I also don't quite understand how conventional TA is applied to BTC.
Mainly because this is a relatively new market and most people factor out the continuously changing parameters and circumstances which you don't have in 'old' markets.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32989. (Read 26466831 times)