Bitcoin Forum

http://www.fxwirepro.com/data/charts/20150506fb349e4eR2(BTCUSD).png.png

BTC/USD is trading well above both short term resistance $237 (trend line joining $269.90 and $258.80) and also long term resistance $225 (trend line joining $299 and $257.48) and this confirms short term bullishness, a jump till $258 cannot be ruled out.

The pair's major resistance is around $244

On the down side short term weakness only below $224 and any break below will take the pair further down till $211.
 Indicator (Daily chart)

CCI (50) - Buy

Woodies CCI (14) - Buy

Ichimoku- Buy

It is good to buy around $235 with stop around $224 for the target of $258.

(Source: http://fxwire.pro/BTC/USD-Short-Term-outlook-32776)

numbers, words, maths.

Some ppl are fascinating trading based on the technical analysis as the one applied in financial world. I wonder whether it works at crypto world.

i think the GBTC trades are getting people overly bullish

which is a good thing, the bearish trend last even too much for my taste, we need to move ahead and stop shorting all the time

BTC/EUR Short term outlook

http://www.fxwirepro.com/data/charts/20150506995be774R3(BTCEUR).png.png

BTC/EUR is struggling to close above 221 (200 day 4HMA) and any trend reversal can happen only above that level.

On the upside minor resistance is around 221 (200 day 4HMA) and any break above would extend gains till 235/240 in short term. The pair's short term support is around 206 and any break below will extend loss till 200/193.

So, is there any professional trader around here care to comment on this? Do these moving averages indicators work in real life as far as price prediction goes? I'm a complete dumb ars on the subject and always thought it's a gambler's excuse to predict trends.

The main question is whether 'real world' indicators can be used for Bitcoin. There are two camps, basically: People who claim BTC is only influenced by TA (and thus self-fulfilling prophecies), and those who claim that regular TA just doesn't work when it comes to BTC.

actually i would prefer if everyone went over to okcoin and placed a large 20x short.  thats the fastest way to make bitcoin go up.

Ok, thanks... I better leave this thread before I completely embarrass myself.  :)

Just buy one of these and you'll do fine : http://www.amazon.com/Mattel-30188-Magic-8-Ball/dp/B00001ZWV7

I have one and it always (nearly) tells me the answer I'm looking for plus my trades skew on the positive w/ a prayer said. ;D Can't go wrong.

people constantly say this bear trend is getting ridiculous. maybe current price is too high. if so the bear effect will be much worse very soon.

I'd be quite scared if we indeed go below $213 from here. Some serious panic might kick in, and depending on when it would happen, we'd be left with no more support lines or resistance lines that are broken. There's this slight bullishness that seems to persist currently, but I agree that it will be difficult to break above $244, we've established quite some resistance there!

For a benevolent bearwhale it's easily possible to break the resistance in a (I suppose) flash-crash to finally get rid of the weak hands that cling on to the "established" resistance. Whenever you are talking about possibilities: Never forget, it is still bitcoin you are talking about. Hence everything is possible!

Benevolent or Malevolent? Yeah sure they could, and most of the times this does work, when we're hovering above support. Last night, though, things apparently didn't go the way the bear whale anticipated. He bearly (pun intended) moved the market, yet paying 10k of BTC for it.