Bitcoin Technical Analysis for 11/7/2015 – The calm before the storm

[m3]

In our previous technical analysis for 11/6 we speculated that if prices hold steady for the next day there may be a sign that stability is here. The recent bull run signaled the completion of the 1 year long bearish market. Because of the sudden decrease in trading volume post the bull run, we speculate that the market will try to stabilize between strong support and resistance orders.

pantheo from tradingview suggests that the demand and support zones are ~$250 and ~$400. There simply isn’t enough momentum to continue crazy price movements, this chart points out the demand and supply areas as pointed out by pantheo:



Read More: http://themerkle.com/coins/bitcoin-technical-analysis-for-1172015-the-calm-before-the-storm/

[talks_cheep]

Just as I suspected.

If the bubble has already burst, this has been the most pathetic bitcoin bubble in its history. It's like a rocket, after lifting off, stalls in mid-air, hanging. There is no more moon. Get over it.

[r0ach]

Your chart is ridiculously amateurish and not useful because it doesn't take the halving into consideration at all.  We already knew the halving was going to take it to 400-450 BEFORE the bull run occurred, now it will probably take it to 600 or more.  The halving in this case would fall more under the area of unchartable fundamentals than something you can put on a chart.  All you can do is calculate the short term trade range like I did in the post below while knowing there will be an obvious upward trend from halving as the months continue.

P.S. - look at the poster above, talks_cheep, post history.  Half his posts say "$350 or higher here we come!" then he says the price is going to 0 in the next post.  Typical lying psychopath.

Tired of looking at crappy line drawing that shows absolutely nothing, so here's what I see as the best altcoin trader in the universe.  So in other words, a trading range of 360 - 415.  Take the bottom of 360, add it to the point where resistance started to increase of 415, divide it by two = average of 387.5, exactly where the price is.  With a continous uptrend unless it breaks below 360.



Called the 415 before it went there while it was at 370 or so in the 2nd wave blowoff too:

Will test $415 next

[jaredboice]

Your chart is ridiculously amateurish and not useful because it doesn't take the halving into consideration at all.  We already knew the halving was going to take it to 400-450 BEFORE the bull run occurred, now it will probably take it to 600 or more.  The halving in this case would fall more under the area of unchartable fundamentals than something you can put on a chart.  All you can do is calculate the short term trade range like I did in the post below while knowing there will be an obvious upward trend from halving as the months continue.

P.S. - look at the poster above, talks_cheep, post history.  Half his posts say "$350 or higher here we come!" then he says the price is going to 0 in the next post.  Typical lying psychopath.

Tired of looking at crappy line drawing that shows absolutely nothing, so here's what I see as the best altcoin trader in the universe.  So in other words, a trading range of 360 - 415.  Take the bottom of 360, add it to the top resistance point of 415, divide it by two = average of 387.5, exactly where the price is.



Called the 415 before it went there while it was at 370 or so in the 2nd wave blowoff too:

Will test $415 next

Trolls everywhere, trying to affect sentiment.  Some of these trolls are likely the same person switching between multiple accounts to make it look like a conversation that actually has real people involved.