Bitcoin Forum

GMT20140704 9:10 Trend Analysis of Democurrency

 

Bitcoin:

 

Bitcoin goes on moving sideways.

 

It seems that wave theory is not useful. It’s better not to utterly depend on this technical analysis.

 

It has moved sideways for 4 days. And it will go on moving sideways for 3 days.

 

The trading volume becomes slight. But orders of bidding and asking are large. So trend aptitude will be small. Let’s waiting for Big investors’ actions.

 

These days are the key and a mile stone to trend market in future.

 

If it goes down, a shape of double head will be formed. It will move sideways for at least one month at $580-$660. And it is difficult to confirm when it can go up to above $700.

 

If it goes on rising, it will move as what I have said.

 

Now Bitcoin is like the early period of starting a atomic bomb. It will expose if there is a single more nuclear fission leading to more fissions. But It will have to restart if without that single fission.

 

History is dependent to the minority. So is Bitcoin trend.

 

Altcoin:

 

Altcoin Index 1 is 5.03, up 0.5%. Altcoin Index 2 is 2.18, up 1.5%.

 

LTC still goes down. But LTC market cap is $200 million, and it’s 1.5 time of that of all other altcoins. New coins valued $250,000 every day are mined so it will go down. My anticipation is $5.

 

DOGE and Darkcoin rebound today.

 

XPM has increased greatly in these days. This is a counter reaction to the Doge dive because XPM will never be attacked by script miners. It’s trading volume is only $50000, and some body can easily push price up.

http://www.bit-sky.com/index.php/english/1006-gmt20140704-9-10-trend-analysis-of-democurrency

Primecoin [XPM] is being purchased here (https://bitcointalk.org/index.php?topic=530163.msg7545859#msg7545859).

Yeah litecoin can go to 5 usd, is still very high in contrast to the 2 usd price it had last year.

Where are you finding the Altcoin Index 1 and 2? All I can find are a couple of months-old announcements and a website that appears to be inaccessible.

I want to know more about components and methodology.