Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33056.

Richy_T

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Quote from: phoenix1 on June 08, 2013, 12:38:29 PM

Quote from: Richy_T on June 08, 2013, 11:51:43 AM

Speculators and traders thrive on volatility. Volatility is not good for bitcoin. Lack of volatility causes speculators to exit. Speculators exiting causes price to drop. Could be a good sign for the long-term health of bitcoin (I won't say "bullish").

Bitcoin needs to build fundamentals. That is what will drive its success.

I agree about the fundamentals, but not in whole about the role of speculators. Having a number of them there who are prepared to risk their own capital to provide liquidity is not such a bad thing.

I don't mean to disparage speculators but I think there is likely such a thing as excess liquidity at times.

ChartBuddy

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Abandon

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I recommend anyone who isn't an expert trader to take an educative read: http://www.babypips.com/school/the-big-three.html

Frozenlock

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Indeed. We were overbought for most of the sprint upward in April.

byronbb

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HODL OR DIE

Quote from: lucas.sev on June 09, 2013, 12:15:49 AM

Quote from: byronbb on June 09, 2013, 12:12:38 AM

Quote from: lucas.sev on June 08, 2013, 11:00:10 PM

Quote from: Nightowlace on June 08, 2013, 10:59:14 PM

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

Imagine the panic it would cause if it disappeared now

Exactly.... Moreover the ask side is offering terrible liquidity.

lucas.sev

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Quote from: byronbb on June 09, 2013, 12:12:38 AM

Quote from: lucas.sev on June 08, 2013, 11:00:10 PM

Quote from: Nightowlace on June 08, 2013, 10:59:14 PM

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

Imagine the panic it would cause if it disappeared now

byronbb

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HODL OR DIE

Quote from: lucas.sev on June 08, 2013, 11:00:10 PM

Quote from: Nightowlace on June 08, 2013, 10:59:14 PM

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

ChartBuddy

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Abandon

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Quote from: lucas.sev on June 08, 2013, 11:48:24 PM

Quote from: Abandon on June 08, 2013, 11:36:49 PM

Quote from: lucas.sev on June 08, 2013, 11:30:13 PM

Quote from: Abandon on June 08, 2013, 11:16:25 PM

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink area on the MACD is volume. If it's above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

Thank you! Wink

So MACD tells us we are bearish, because only cross above the pink area tells signals bullish market, yes? Do I understand correctly that oversold is interpreted as expecation to get back to higher pricepoint?

Currently the MACD is bearish for the long term, but the lines there are about to cross over, so it might be bullish for a little while. Oversold or overbought usually means that the market is due for a correction or change in trend.

lucas.sev

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Quote from: Abandon on June 08, 2013, 11:36:49 PM

Quote from: lucas.sev on June 08, 2013, 11:30:13 PM

Quote from: Abandon on June 08, 2013, 11:16:25 PM

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink area on the MACD is volume. If it's above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

Thank you! Wink

So MACD tells us we are bearish, because only cross above the pink area tells signals bullish market, yes? Do I understand correctly that oversold is interpreted as expecation to get back to higher pricepoint?

Abandon

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Quote from: lucas.sev on June 08, 2013, 11:30:13 PM

Quote from: Abandon on June 08, 2013, 11:16:25 PM

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink bars on the MACD is volume. If they are above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

lucas.sev

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Activity: 252

Merit: 250

Quote from: adamstgBit on June 08, 2013, 11:32:33 PM

Quote from: lucas.sev on June 08, 2013, 11:30:13 PM

Quote from: Abandon on June 08, 2013, 11:16:25 PM

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

It tells me nothing, I wanted to get more insight on how the graph can be interpreted in a way that tells you "its oversold". From I understand "oversold" means that it is expected to go back to non-"over" state i.e. buying is expected?

adamstgBit

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