Angry, Festering RSI

[LoweryCBS]

If this were a zit, I'd pop it:

http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zxzi1gRSI

[Spaceman_Spiff]

If this were a zit, I'd pop it:

http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zxzi1gRSI

How much good would 'popping the zit' have done you in June, July or December?
But I agree that we could have a decent correction here.

[byronbb]

BURN THE MANIPULATOR!!

[ajk]

just like any indicator using a single one to weigh your trading options is amateur

while RSI is one of my favorite indicators a period of stability would more than fix the overbought state that RSI says we are in right now

while a sell off wouldnt be surprising to me I would say it is more than likely there will be a stable period considering we havent seen any relative big sell offs in the last recent days / 1 week period and  last time there was a moderate sell off the market immediately recouped and rallied upwards which leads me to believe that we are still trending in that direction

hopefully we see some stability it would be great for me and for the overall image of bitcoin, many good things are going for it right now and hope to see this continue,

[Luno]

I use these indicators:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zig6-hourztgSzbgBzm1g10zm2g25zi1gMACDzi2gRSIzi3gSStochzi4gOBVzv

More like a pimple (please notice that my indicators reflect past dips)

[jwzguy]

I use these indicators:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zig6-hourztgSzbgBzm1g10zm2g25zi1gMACDzi2gRSIzi3gSStochzi4gOBVzv

More like a pimple (please notice that my indicators reflect past dips)

Did they predict past dips, though?

[ajk]

Its the market,

If indicators were always correct everyone in the world would be trading stocks and making money off of it,

just like anything involving 2 major options it is a coinflip regardless of how many indicators say one thing because they can be wrong..

they are there to help you make educated guesses,

those are all good indicators, alot of people also use the Parabolic SAR which shows optimal times to buy and sell by dots below or above in that respective order, buy:below / sell:above

but also should be taken with a grain of salt and used with other indicators as well as trending direction

[Luno]

I use these indicators:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zig6-hourztgSzbgBzm1g10zm2g25zi1gMACDzi2gRSIzi3gSStochzi4gOBVzv

More like a pimple (please notice that my indicators reflect past dips)

Did they predict past dips, though?

I said reflect not predict, and thats the catch.

It's more like an indicator of risk, so when it's high, I shave my upper hedge, But we have been going up for long now. On the other hand, the inflow of money in to trading is quite constant so no reason to believe that a dip is imminent. Looking at the actual trades, every time someone throws some BTC, the cheap ass buyers come crawling out of the woodwork.

The large ask walls are actually there to not let the buying run amok.

[humanitee]

I use these indicators:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zig6-hourztgSzbgBzm1g10zm2g25zi1gMACDzi2gRSIzi3gSStochzi4gOBVzv

More like a pimple (please notice that my indicators reflect past dips)

Did they predict past dips, though?

I said reflect not predict, and thats the catch.

It's more like an indicator of risk, so when it's high, I shave my upper hedge, But we have been going up for long now. On the other hand, the inflow of money in to trading is quite constant so no reason to believe that a dip is imminent. Looking at the actual trades, every time someone throws some BTC, the cheap ass buyers come crawling out of the woodwork.

The large ask walls are actually there to not let the buying run amok.

... ....
... not sure if serious

[Luno]

I use these indicators:
http://bitcoincharts.com/charts/mtgoxUSD#rg30zig6-hourztgSzbgBzm1g10zm2g25zi1gMACDzi2gRSIzi3gSStochzi4gOBVzv

More like a pimple (please notice that my indicators reflect past dips)

Did they predict past dips, though?

I said reflect not predict, and thats the catch.

It's more like an indicator of risk, so when it's high, I shave my upper hedge, But we have been going up for long now. On the other hand, the inflow of money in to trading is quite constant so no reason to believe that a dip is imminent. Looking at the actual trades, every time someone throws some BTC, the cheap ass buyers come crawling out of the woodwork.

The large ask walls are actually there to not let the buying run amok.

... ....
... not sure if serious

The walls or me?

They serve that purpose, intentional or not!

[humanitee]

Where are these "large" ask walls? There are only ~BTC20k to $32.00!