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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 508950 times)
slush
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May 11, 2011, 02:27:27 PM
 #661

done with sierrachart

Good to know that somebody is using sierrachart Smiley. I should release new version fixing some issues soon...

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Enky1974
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May 11, 2011, 02:45:26 PM
 #662

done with sierrachart

Good to know that somebody is using sierrachart Smiley. I should release new version fixing some issues soon...
It works well nice job slush, i've noticed that sometime the data feed is lagged but it could be my internet connection.

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nster
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May 11, 2011, 03:09:52 PM
 #663

Dark pools exist, manipulation is made much easier thanks to that. Also, he may be selling little by little. Remember he bought at 4$ ish, so 6$ is already 50% profit, it my theory is he is trying to push the market to 10$ if he can, while selling along just in case, and buying when prices seem to want to fall

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BitterTea
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May 11, 2011, 03:19:09 PM
 #664

Dark pools exist, manipulation is made much easier thanks to that.

How, exactly?
slush
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May 11, 2011, 03:44:35 PM
 #665

It works well nice job slush, i've noticed that sometime the data feed is lagged but it could be my internet connection.

No, it is a bug in library which the script use. Will be solved in following bugfix release...

someotherguy
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May 11, 2011, 06:28:41 PM
 #666

well, fuck my life... 5$? really? I basically lost 150$ right now ,because I sold a few hours too early?

This is what I hate about BTC Sad Someone decides to buy alot and voila, his BTC is already worth over 50% more

If it makes you feel any better we're probably heading for a substantial drop in the near future.



An adjustment is coming +1
brocktice
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May 12, 2011, 05:36:42 PM
 #667

An adjustment is coming +1

So everyone keeps talking about this adjustment, but I haven't seen it yet. Looks to me like we're in a sideways channel for a while.

http://media.witcoin.com/p/1608/8----This-is-nuts

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Enky1974
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May 12, 2011, 05:55:53 PM
 #668

Honestly i prefer an upside breakout
this is an hourly chart, last 2 days

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epii
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May 12, 2011, 06:09:49 PM
 #669

It strikes me that the big question at this point is whether BTC is subject to longer term trends than have been easily observable up to now.  Take a look at the RSI over the past few weeks:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2011-02-21zeg2011-05-14ztgSzbgBzm1g10zm2g25zi1gRSI

Looking at a long-term time scale, we're way, way overdue for a reversal.  But BTC loves to misbehave.

Vires In Numeris.
Enky1974
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May 12, 2011, 06:32:57 PM
 #670

It strikes me that the big question at this point is whether BTC is subject to longer term trends than have been easily observable up to now.  Take a look at the RSI over the past few weeks:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2011-02-21zeg2011-05-14ztgSzbgBzm1g10zm2g25zi1gRSI

Looking at a long-term time scale, we're way, way overdue for a reversal.  But BTC loves to misbehave.
Yes and no, oscillators are good when the market trade sideways or not much trendy. When there is a strong trend it can become misleading to trust an oscillator like the RSI.

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silversurfer
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May 12, 2011, 06:44:11 PM
 #671

The RSI on Enron was flashing buy signals the whole way down.

That which is falling should also be pushed.
Anth0n
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May 12, 2011, 06:47:36 PM
 #672

It strikes me that the big question at this point is whether BTC is subject to longer term trends than have been easily observable up to now.  Take a look at the RSI over the past few weeks:
http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2011-02-21zeg2011-05-14ztgSzbgBzm1g10zm2g25zi1gRSI

Looking at a long-term time scale, we're way, way overdue for a reversal.  But BTC loves to misbehave.

I've noticed this about the RSI too, but keep in mind that since Bitcoin is a new phenomenon, there are constantly new buyers entering the market. I'm no expert on technical indicators, but my guess is that the RSI assumes that buy volume = sell volume on average, meaning that if one exceeds the other over a period of time, a correction is bound to occur. This is a viable idea in more saturated markets, but since new buyers keep entering the Bitcoin market, the long-term RSI seems likely to be unreliable.
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May 12, 2011, 07:57:51 PM
 #673

As promised, here is tonight's technical analysis.


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S3052
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May 12, 2011, 09:33:11 PM
 #674

Forecast materialized real well...

New all time high and more to come, given the strength of the rally.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

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allinvain
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May 13, 2011, 12:18:27 AM
 #675

The RSI on Enron was flashing buy signals the whole way down.

Indeed. MACD would be a much more appropriate technical analysis tool. That and of course moving averages.


allinvain
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May 13, 2011, 12:20:29 AM
 #676

We reached 6$. I give up trying to predict this market. It’s pure insanity. Grin

Reached it again and surpassed it. Either it's pure insanity or irrational exuberance, but either way I think the uptrend party is here to stay.

srb123
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May 13, 2011, 12:56:13 AM
 #677

Forecast materialized real well...

New all time high and more to come, given the strength of the rally.

You are a freak! Hope you didnt spend that 50BTC I sent you in feb too quickly, you would have made more off me than my "real" financial advisor, lol.
epii
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May 13, 2011, 01:03:22 AM
 #678

The RSI on Enron was flashing buy signals the whole way down.

Indeed. MACD would be a much more appropriate technical analysis tool. That and of course moving averages.


Okay then: http://bitcoincharts.com/charts/mtgoxUSD#rg60zigDailyzczsg2011-02-21zeg2011-05-14ztgSzbgBza1gEMAzm1g10za2gEMAzm2g25zi1gRSIzi2gMACD

What more does that tell us?

Vires In Numeris.
molecular
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May 13, 2011, 01:11:49 AM
 #679

We reached 6$. I give up trying to predict this market. It’s pure insanity. Grin

why, that's easy: longterm RALLY until 1 BTC = <value of world economy/> / 21,000,000

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brocktice
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May 13, 2011, 02:01:44 AM
 #680

We reached 6$. I give up trying to predict this market. It’s pure insanity. Grin

why, that's easy: longterm RALLY until 1 BTC = <value of world economy/> / 21,000,000


So I guess when we hit 2.6M USD/BTC I should sell some, eh?

http://media.witcoin.com/p/1608/8----This-is-nuts

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