Bitcoin Forum
November 18, 2017, 10:02:02 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3]  All
  Print  
Author Topic: A more in-depth BTC/USD analysis...  (Read 3319 times)
solex
Legendary
*
Offline Offline

Activity: 1078


100 satoshis -> ISO code


View Profile
February 11, 2013, 08:41:21 PM
 #41

The Bitcoin price is stair-casing up, which is a strong bullish trend. The bears are also getting exhausted trying to pick the top for selling.

http://bitcoincharts.com/charts/mtgoxUSD#rg30zigHourlyztgSzm1g10zm2g25zv

See Jan 25, Feb 2 and Feb 10. Each time the sell-off is weaker and weaker.

The (short-term) end to the stair-case will be a blow-off top, where the price spikes 2 or 3 dollars in a day and retreats. There was a small such top on Jan 25 when it went from $19 to $19.75 very quickly and was kicked back down straightaway. The bears saw it and sold off hard in a bout of profit-taking which had the price back to around $15.80.

From the current price of $24, a top would be signalled by a sudden spike into the high-20s and retreat. In the event of massive profit-taking the price could retrace to $21 as this seems the next strongest support level.

Any thoughts?

A blockchain platform for effective freelancing
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511042522
Hero Member
*
Offline Offline

Posts: 1511042522

View Profile Personal Message (Offline)

Ignore
1511042522
Reply with quote  #2

1511042522
Report to moderator
1511042522
Hero Member
*
Offline Offline

Posts: 1511042522

View Profile Personal Message (Offline)

Ignore
1511042522
Reply with quote  #2

1511042522
Report to moderator
1511042522
Hero Member
*
Offline Offline

Posts: 1511042522

View Profile Personal Message (Offline)

Ignore
1511042522
Reply with quote  #2

1511042522
Report to moderator
TraderTimm
Legendary
*
Offline Offline

Activity: 2002



View Profile
February 11, 2013, 08:53:13 PM
 #42

The Bitcoin price is stair-casing up, which is a strong bullish trend. The bears are also getting exhausted trying to pick the top for selling.

http://bitcoincharts.com/charts/mtgoxUSD#rg30zigHourlyztgSzm1g10zm2g25zv

See Jan 25, Feb 2 and Feb 10. Each time the sell-off is weaker and weaker.

The (short-term) end to the stair-case will be a blow-off top, where the price spikes 2 or 3 dollars in a day and retreats. There was a small such top on Jan 25 when it went from $19 to $19.75 very quickly and was kicked back down straightaway. The bears saw it and sold off hard in a bout of profit-taking which had the price back to around $15.80.

From the current price of $24, a top would be signalled by a sudden spike into the high-20s and retreat. In the event of massive profit-taking the price could retrace to $21 as this seems the next strongest support level.

Any thoughts?

I'd agree that it is hugging a trendline rather well. I'm wary however - just like you are, because we both know that any selloff should be rather panic-fueled once it gets underway. The only comfort is that the recent selloffs haven't gone as far as they would've in 2011.

It has been a lot of fun to chart it, in any case.

fortitudinem multis - catenum regit omnia
Pages: « 1 2 [3]  All
  Print  
 
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!