Bitcoin Forum

I 'm starting this thread in order to keep a log of very simple analysis usually without comments from me.
You can comment you as much as you want.
Lets start:
http://s15.postimage.org/diynfd5ln/upload.png

Where is the mistake?
What should I do to correct it?

http://s8.postimage.org/8b1v2a4h1/upload.png

Why no comments? Given this is a forum community, a description would be helpful to a lot of people even if it is only one sentence.

I thing because they are simple they are somehow self explained :)

From what I see, I understand that you use minimum and maximum day prices in certain days (typically in long-time lows and peaks). However, I don't understand how maximum and minimum prices in these days are relevant. You know, sometimes people sell/buy small amounts of bitcoins for much less/more than what market price is.

Care to explain your methods?

I don't have any specific method.
When you draw lines, channels, fibs, e.t.c. you use the extremes.
I don't recomment any entry or exit points.
I just try to keep it simple and not overanalyse.

Well, if you don't have a specific method and just draw straight lines and connect them somewhere then it seems like a random analysis that shows nothing.
Truth be told, I'm skeptical about technical analysis in general.

Well, you can see that the trend-lines show obvious support/resistance, and that the descending channel was broken out of today. I would recommend however, the use of parallel lines to mark the top/bottom extremes of the channels, and everyone would be able to see how these channels hold up over time.

These charts are all of the past. When do we get the future ones?

I'd pay some decent coin for SierraChart:Future!  :P

@1pakis
have you thought of using logarithmic scale?
you'd have a different view

I will try it.
I think log scale is for long term and very big price movements.

Here is the log scale of the above image.
Not much difference.
http://s15.postimage.org/rwi53auff/upload.png