Bitcoin daily technical analysis (for trading with 1hr time frame)

[spiritual3]

16.08.2016.
Note: It is just my view as per technical analysis. There is no commercial purpose.

[InvoKing]

to the speculation board maybe?
hate thoses graphs prefer to use my feeling when i trade (not much) (always fail )

Edit: kinda confused here

[countryfree]

That graph doesn't look technical to me, it's financial. I guess it can be useful to people doing day-trading.
A technical graph would show things like last block sizes or transactions per hour...

[spiritual3]

That graph doesn't look technical to me, it's financial. I guess it can be useful to people doing day-trading.
A technical graph would show things like last block sizes or transactions per hour...

Thanks for your suggestion.. edited the title ..

[ajmagz09]

so according to your analysis, the price is going down. i hope it wont go all the way down. but maybe it can be better too if the mining or gaining the coins would be easy while the price is going down. hope you can have your own speculations on when the price will be up again.

[maydna]

from what you tell in your chart, the trend is going down, i wonder how much is going down? will it reach $525? i hope that the rate will be back into $600 in this week, and will up more than that.

[spiritual3]

[topiOleg]

You should really describe the picures and what they suggest in layman terms, so more people can get what you mean. Im used to technical analysis with a lot of trianges, and the suggested trend is obvious even for a layman. But with your graphs, I just assume it is recent price and volume, and the S1-4 and R1-4 current order book supports, but thats it - nothing more I can get from the graph, you should not assume many using this application (so familiar with the graph representations).

[spiritual3]

You should really describe the picures and what they suggest in layman terms, so more people can get what you mean. Im used to technical analysis with a lot of trianges, and the suggested trend is obvious even for a layman. But with your graphs, I just assume it is recent price and volume, and the S1-4 and R1-4 current order book supports, but thats it - nothing more I can get from the graph, you should not assume many using this application (so familiar with the graph representations).

thanks for your suggestion. will do from next post

[pooya87]

these types of speculation about price never works completely in your favor, because bitcoin is not changing with much logic but mostly on events that are happening about it.

(i guess everything is that way but bitcoin is mostly affected)

[Kakmakr]

In the Bitcoin world, a lot can happen in a 1 hour time frame. It is for this reason I stopped day trading, because it becomes a full time job to watch the price and to play the game. I now just hoard a bunch of coins and when the price drops, I buy more.

Once I have reached my target price, I sell a small percentage to refund my own investment in fiat and then play around with the profits. ^smile^

[abugseuf]

In the Bitcoin world, a lot can happen in a 1 hour time frame. It is for this reason I stopped day trading, because it becomes a full time job to watch the price and to play the game. I now just hoard a bunch of coins and when the price drops, I buy more.

Once I have reached my target price, I sell a small percentage to refund my own investment in fiat and then play around with the profits. ^smile^

to me that is a good decision, we cannot predict about bitcoin for a single minute, therefore day trading or hourly trading is too much risky, i think the best option is to invest in bitcoin for a long time.