Bitcoin Forum
October 16, 2018, 11:52:46 PM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
   Home   Help Search Donate Login Register  
Pages: [1]
Author Topic: Bitcoin Technical Analysis for 11/20/2015 backwash  (Read 345 times)
Full Member
Offline Offline

Activity: 202
Merit: 100

View Profile
November 20, 2015, 11:43:40 AM

This week has been quite a roller coaster in terms of price movement. Earlier this week the market had a mini $14 bull run which brought bitcoin to the pre November bubble range of $330. In my last bitcoin technical analysis I discussed how the price drop on the 15th was nothing but a bull trap. Whether the current drop will prove to be yet another bull trap is up for debate. Volume died down after the 17th and as mentioned earlier, traders were waiting on the sidelines watching out for the next wave.

The wave sure came today in the form of a quick faith test as the price dipped over $20 and touched $310. Part of the reason for the crash seems to be the emergency meeting that the EU is holding on friday regarding regulation of virtual currencies, gold, and precious metals, as a response to the recent terrorist attack. However, in light of recent news, bitcoin and encryption did not play a role in the paris attack because the Paris police found a cellphone with an unencrypted SMS saying “Let’s go, we’re starting”.

Read More:

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Hero Member
Offline Offline

Activity: 588
Merit: 500

View Profile
November 20, 2015, 03:02:12 PM

Uhh... Bull traps don't happen when the price drops, and then rises again, that's a BEAR TRAP. But really we are just seeing price fluctuations. Bear/bull traps are made to look like a reversal of a trend, not sideways trading.

This is the kind of shit I'm talking about, most TA is a joke. TA with no math or anything behind it is just reading tea leaves.
Pages: [1]
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!