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Question: Bitcoin Forecast: What do you expect BTC/USD prices to do in the next 4 weeks?
Up
Down
Same as now
I don't know

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Author Topic: Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN?  (Read 540158 times)
pent
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January 22, 2012, 06:38:29 PM
 #1841

There seems to be somewhat of an ascending triangle forming from that graph which is usually a bullish indicator. I am cautiously optimistic for the mid term at this point.
RSI & Macd not optimistic and averages are going to intercept.

5.8

However RSI ~= 50 within long bullish trend can mean upside breakout.
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finway
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January 22, 2012, 06:49:53 PM
 #1842

At one point, a next rally leg will most likely come, and it should be very strong.

But until 7.22 $ is cleared to the upside, there remains a neutral trading range down to 4.64 $. This means that there remains a risk for another short term sell off, before the mid term up trend continues.


4.64-7.22   thats' a big gap  Grin

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January 22, 2012, 06:52:56 PM
 #1843

4.64-7.22   thats' a big gap  Grin
This means the hell knows what would be next ))
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January 22, 2012, 07:16:09 PM
 #1844

sounds legit
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January 22, 2012, 07:45:53 PM
 #1845

i see green on recent bars at bitcoincharts. is this the last spike upwards before the fall?  Undecided
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January 22, 2012, 07:47:17 PM
 #1846

i see green on recent bars at bitcoincharts. is this the last spike upwards before the fall?  Undecided
Im not a main specialist here, but i think yes.
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January 23, 2012, 07:32:24 AM
 #1847

At one point, a next rally leg will most likely come, and it should be very strong.

But until 7.22 $ is cleared to the upside, there remains a neutral trading range down to 4.64 $. This means that there remains a risk for another short term sell off, before the mid term up trend continues.


4.64-7.22   thats' a big gap  Grin

This is true, but reality.

A more narrow, short term range is 6.1 - 6.5 $. A breakout of this range would be the first sign of a stronger move.

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January 23, 2012, 10:05:45 PM
 #1848

no shit
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January 23, 2012, 11:17:09 PM
 #1849

no shit

Calm now.. Smiley

But I was thinking it too.. lmao..

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January 24, 2012, 01:36:04 AM
 #1850

we're in the eye of the storm. noone knows where to go.

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January 24, 2012, 02:20:18 AM
 #1851

exciting times, exciting times Grin
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January 24, 2012, 03:01:26 AM
 #1852

we're in the eye of the storm. noone knows where to go.

Someone has hit the pause button, and then hid the remote.
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January 24, 2012, 08:05:56 PM
 #1853


Calm now.. Smiley

But I was thinking it too.. lmao..

never refrain when there's potential for lulz

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January 24, 2012, 09:29:02 PM
 #1854

brief update: http://bit.ly/xBq5et

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January 25, 2012, 07:04:06 AM
 #1855

brief update: http://bit.ly/xBq5et

Hmm - that triangle there (it is in http://www.bitcoinbullbear.com/ - for those that don't like clicking too much) had bottom at 6.25 yesterday at 2pm - now it would be about 6.3 - so it is broken down already.
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January 25, 2012, 09:57:26 AM
 #1856

brief update: http://bit.ly/xBq5et

Hmm - that triangle there (it is in http://www.bitcoinbullbear.com/ - for those that don't like clicking too much) had bottom at 6.25 yesterday at 2pm - now it would be about 6.3 - so it is broken down already.

Yes, I noticed that, too. It's now clearly broken, yet no fall is happening. I guess all bets are off because everyone seems reluctant to trade, which can be seen by the fact that the volume has been steadily declining for over a week now (since Jan. 18th).

I still think this is the calm before the storm, though.

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nelisky
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January 25, 2012, 10:31:51 AM
 #1857

I know nothing of triangles as they are applied to predictions and such, but the "calm" we're experiencing is a bit unsettling.

If I had to point my finger while looking at the shiny crystal ball, I would say that the fact mtgox's verification process is becoming a bigger burden, the fact they still don't allow SEPA withdrawals along with intersango's being unable to withdraw to UK banks is leaving many people without the "cash out" option, which is the main driving force for the quick dumps imho. I know I do it every month to pay electricity, and the fact I can trade coins but can't then easily collect euros is a major issue.
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January 25, 2012, 04:06:50 PM
 #1858

That should be taken care of quickly, as even I can remember how repelling it was to send EUR to that UK based bank account to to have it converted into Dollars without knowing beforehand how long it would take and what charges would apply, as Im being based in Germany. Also finding out about the whole process took 2 weeks (incl. 2 test transfers). With SEPA in place it would have been much easier.

Anyway, I think the current liquidity issue from bitcoinica is a major hold back for bitcoin prices atm. With accounting (1-2 weeks ago?) for roughly 80% of mtgox trades I would assume still a lot of those funds sit at bitcoinica and wait to go long as soon as buying will be (if ever again;) possible. This thread draws some interesting parallels between bitcoinica and recent resistences:
https://bitcointalk.org/index.php?topic=60078.0
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January 25, 2012, 07:21:57 PM
 #1859

I know nothing of triangles as they are applied to predictions and such, but the "calm" we're experiencing is a bit unsettling.

If I had to point my finger while looking at the shiny crystal ball, I would say that the fact mtgox's verification process is becoming a bigger burden, the fact they still don't allow SEPA withdrawals along with intersango's being unable to withdraw to UK banks is leaving many people without the "cash out" option, which is the main driving force for the quick dumps imho. I know I do it every month to pay electricity, and the fact I can trade coins but can't then easily collect euros is a major issue.

FYI Intersango's UK banking has been operational since the 20th.

Edit: Feel I should add that we have a SEPA account doing deposits AND withdrawals.
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January 25, 2012, 07:59:09 PM
 #1860

Mothly RSI just hit 50% from upside. 2m RSI even lower. Short term is down, long term is up. 2m charts shows downside divirgences in both MACD and RSI.

Good Lagrangian point for both rally and falling knife.
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