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Title: A veiw of the past, a trend of the future..? Post by: spazzdla on January 14, 2017, 03:08:33 PM https://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-01-01zeg2013-11-01ztgSzm1g10zm2g25zv
https://bitcoincharts.com/charts/bitstampUSD#rg60zig30-minzczsg2013-10-01zeg2013-11-01ztgSzm1g10zm2g25zv https://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-10-01zeg2014-11-01ztgSzm1g10zm2g25zv That tea cup pattern is a nice one. Title: Re: A veiw of the past, a trend of the future..? Post by: manselr on January 14, 2017, 04:06:19 PM https://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-01-01zeg2013-11-01ztgSzm1g10zm2g25zv https://bitcoincharts.com/charts/bitstampUSD#rg60zig30-minzczsg2013-10-01zeg2013-11-01ztgSzm1g10zm2g25zv https://bitcoincharts.com/charts/bitstampUSD#rg60zczsg2013-10-01zeg2014-11-01ztgSzm1g10zm2g25zv That tea cup pattern is a nice one. Past performance doesn't guarantee future performance, but it can help trying to guess what's going to happen. Then again, no amount of technical analysis can predict something like what we saw recently (chinese government regulating exchanges or whatever other news that can cause a random ass super flash crash). So we can't predict anything, at the end of the day is a gamble so good luck. What's sure is, bitcoin is a great invention and will never disappear, price is another different story tho. Title: Re: A veiw of the past, a trend of the future..? Post by: pooya87 on January 14, 2017, 04:09:36 PM i always say look at charts, and history, zoom out, etc but looking at charts alone is never enough and will never give you the information that is needed to make a decision for the future. it must be couple with other information such as why things happened the way they happened in those times. and specially since it is not just a normal change but a big rise in your charts.
Title: Re: A veiw of the past, a trend of the future..? Post by: Snorek on January 14, 2017, 04:35:00 PM Charts are only representation and reflection of real market events.
Don't fell into a trap of comparing price charts and look for similarities expecting them to become a trend, they are usually are purely coincidental. Title: Re: A veiw of the past, a trend of the future..? Post by: manselr on January 14, 2017, 06:36:31 PM Charts are only representation and reflection of real market events. Don't fell into a trap of comparing price charts and look for similarities expecting them to become a trend, they are usually are purely coincidental. I agree but the reason that technical analysis works is precisely because of the psychological expectation that other people think it's going to work. It's just a hivemind thing were the majority of market participants think a certain figure is about to form so they all act alike thus creating the figure, like a self fulfilling propercy. In this case, yes, we may see $100,000 per BTC if the exponential growth continues. Of course, we always have external factors that can destroy those TA thoughts. |