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Title: THE Down-trend Is broken: LOOK AT THE 5 Minute CHART, BUY NOW!!! Post by: Bit_Happy on June 12, 2011, 04:26:22 AM BTC prices spiked from $10.50 to $16 and then within less than 10 minutes they went from $12 to $16.
If you know even the most basic facts about trading: The Down-trend is broken: LOOK AT THE 5 Minute CHART, BUY NOW!!! :D Title: Re: THE Down-trend Is broken: LOOK AT THE 5 Minute CHART, BUY NOW!!! Post by: proudhon on June 12, 2011, 04:32:24 AM So, you're talking about that tiny ascending triangle? :-\
Title: Re: THE Down-trend Is broken: LOOK AT THE 5 Minute CHART, BUY NOW!!! Post by: demonofelru on June 12, 2011, 04:33:55 AM I am far from an advanced trader but I seriously don't believe technical analysis is very valid if at all in bitcoins especially this early.
Title: Re: THE Down-trend Is broken: LOOK AT THE 5 Minute CHART, BUY NOW!!! Post by: Bit_Happy on June 12, 2011, 04:36:57 AM So, you're talking about that tiny ascending triangle? :-\ No I clearly mentioned the two big pushes up to $16. Those show many buyers locked in a fierce battle with scared sellers. The buyers have spoken and will again. I am far from an advanced trader but I seriously don't believe technical analysis is very valid if at all in bitcoins especially this early. Greed and fear apply to all markets. Look at the one hour chart, it is a perfect example of an easy to call top. I admit to still being bullish at $31, due to the excessive emotion here at the forum, but the chart is a classic perfect example of Greed and Fear. |