roslinpl
Legendary
Offline
Activity: 2212
Merit: 1199
|
|
June 16, 2014, 01:42:45 PM |
|
Compare volume and price from last few days seems like we are doing much better when the volume is very low I know that this is all about supply and demand ... but I must say that to predict a bitcoin price for a week ... is very ultra hard... Cheers!
|
|
|
|
dnaleor
Legendary
Offline
Activity: 1470
Merit: 1000
Want privacy? Use Monero!
|
|
June 16, 2014, 01:43:35 PM |
|
And the sheep go....paaaaanic!
never fails. All 3 figure bitcoin sells get followed by sheep. Ming boggling that we're not past this stage yet Slow and steady wins the race. Just don't panic. We're still pretty bullish. Back to 600 today, and back to 700+ after the FBI auction. I think 593 will hold. The new uptrend was too fast. Fibonacci retracements seems are a really god way to predict those small corrections 628 USD is the next target
|
|
|
|
Kupsi
Legendary
Offline
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
|
|
June 16, 2014, 01:43:51 PM |
|
Yes, Bitcoin. I guess $5xx is history now Dont be sure, still there is chance to touch again 5xx or lower. I'm not sure. When I predicted that single digits was history back in 2012 it went down to single digits one last time for some hours Edit: And there it was So you were wrong once, and you want us to believe you will be wrong another time ? Something like that. But $5xx is history soon. Everything below $1000 this summer is a cheap buy. I hope you are right. I entered in bitcoin world after last ATH, so i never lived a "to the moon phase" and it's hard to believe it is going to happen once again. No doubt. This forum will be full of dead bears, dancing bulls, rockets and fireworks again
|
|
|
|
ShroomsKit
|
|
June 16, 2014, 01:46:22 PM |
|
And the sheep go....paaaaanic!
never fails. All 3 figure bitcoin sells get followed by sheep. Ming boggling that we're not past this stage yet Yup.
|
|
|
|
aminorex
Legendary
Offline
Activity: 1596
Merit: 1030
Sine secretum non libertas
|
|
June 16, 2014, 01:48:35 PM |
|
This is probably very improbable though
lol, what? Dude seems to have a sophisticated model distinguishing alleatory and epistemic uncertainty.
|
|
|
|
el_rlee
Legendary
Offline
Activity: 1600
Merit: 1014
|
|
June 16, 2014, 01:55:59 PM |
|
Yes, Bitcoin. I guess $5xx is history now Don't jinx it! There we are again
|
|
|
|
spooderman
Legendary
Offline
Activity: 1652
Merit: 1029
|
|
June 16, 2014, 01:56:57 PM |
|
seems a little quiet for a monday. Where is everyone? Why such low volume too?
I need waves god dammit!
|
|
|
|
Richy_T
Legendary
Offline
Activity: 2548
Merit: 2258
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
|
|
June 16, 2014, 01:58:09 PM |
|
So it's a profit making game and not the future of money?
If it was about the future of money, they would be holding, not selling. The weak hands are typically both speculators and not convinced that Bitcoin will continue to see increased adoption and rising price. We need them to sell to go up since they are a negative feedback on rising prices. They will buy back in as we shoot to the moon and be the cause of the ensuing bubble burst and slow recovery again. These people are where successful traders profits come from.
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2296
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 16, 2014, 02:00:57 PM |
|
|
|
|
|
oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
|
|
June 16, 2014, 02:42:45 PM |
|
ITT some in here underestimate the (call it "psychological", if you want) effect a ~6 month bear market has on the following consolidation-slash-bull market, at least initially.
Remember how, after every ATH rally the bears need some time before they really get their way? It's the same now, only in reverse (and the amplitudes are slightly different due to the even larger trends governing the smaller segments).
|
|
|
|
hyphymikey
|
|
June 16, 2014, 02:43:46 PM |
|
I see the fake sell walls are back
|
|
|
|
JorgeStolfi
|
|
June 16, 2014, 02:44:14 PM |
|
A curiosity question for those who believe in TA (which I still don't, sorry): are its rules symmetrical with respect to up and down? Namely, if a certain pattern is supposed to impliy This and That, is the same pattern, but upside down, supposed to imply the opposite of This and That? (I am asking because I recently edited the Wikipedia article on 'cup and handle' (wait, no need to panic yet !), and it only discusses the 'upside-up' version, no mention of an 'upside-down' one. But wasn't a reversed cup and handle mentioned in this thread, some time ago? Or maybe it was some other upside-down pattern?)
|
|
|
|
podyx
Legendary
Offline
Activity: 2338
Merit: 1035
|
|
June 16, 2014, 02:47:25 PM |
|
Reversed head and shoulder pattern has been mentioned a couple times on here don't know what it means though
|
|
|
|
kehtolo
|
|
June 16, 2014, 02:51:13 PM |
|
Reversed head and shoulder pattern has been mentioned a couple times on here don't know what it means though A great glossary for all of these terms can be found at investopedia It really helped me out when i started reading here.. in fact if you highlight a term you read in here that you are unsure of, right click and search google, it usually comes up with investopedia first result.
|
|
|
|
Torque
Legendary
Offline
Activity: 3668
Merit: 5233
|
|
June 16, 2014, 02:51:46 PM |
|
ITT some in here underestimate the (call it "psychological", if you want) effect a ~6 month bear market has on the following consolidation-slash-bull market, at least initially.
Remember how, after every ATH rally the bears need some time before they really get their way? It's the same now, only in reverse (and the amplitudes are slightly different due to the even larger trends governing the smaller segments).
If you are referring to the psychological effect a prolonged bear market has on the populous, I agree with you. By this point, all trust that these mini rallies are real (i.e., not manufactured by whale traders) have been beaten out of most all but the diehard bulls. That's why recovery back into a true bull market takes so long. Most average Joes are now believing that the whales are just buying and trying to lure the sheep back in, only to spread mass FUD and drop the price at a later point. Again. Only to sell back to themselves once more. No appearance of true increasing adoption appears real to anyone right now.
|
|
|
|
oda.krell
Legendary
Offline
Activity: 1470
Merit: 1007
|
|
June 16, 2014, 02:55:19 PM |
|
A curiosity question for those who believe in TA (which I still don't, sorry): are its rules symmetrical with respect to up and down? Namely, if a certain pattern is supposed to impliy This and That, is the same pattern, but upside down, supposed to imply the opposite of This and That? (I am asking because I recently edited the Wikipedia article on 'cup and handle' (wait, no need to panic yet !), and it only discusses the 'upside-up' version, no mention of an 'upside-down' one. But wasn't a reversed cup and handle mentioned in this thread, some time ago? Or maybe it was some other upside-down pattern?) I'd never call TA 'rules', but let's say the question is: do all methods apply equally to rising prices as they do to falling. No, though some do. Example of those that do apply symmetrically: moving resistances (say, based on a moving average) are considered support once they are broken convincingly. Example of those that don't: Most indicators meant to signal a reversal of some trend inside larger market trend don't. Say for example the larger market trend is a bear market, like the one we've seen since December (and that we seem to have left last month). Say further that you are planning to trade smaller "swings" inside this larger context. If you would trade purely reactive, based on momentum signals like moving averages crossovers, you would probably demand a lot more evidence that the price about to go up than that it is about to go down. In other words, you'd look at a more sensitive indicator to tell you when to sell, and a more lagging one to tell you to get back in. EDIT: if you mainly have candle patterns in mind, then I think most of those apply symmetrically (e.g. hammer vs. inverted hammer). But perhaps someone who's more knowledgeable about those can comment on that.
|
|
|
|
ChartBuddy
Legendary
Offline
Activity: 2296
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
|
|
June 16, 2014, 03:00:56 PM |
|
|
|
|
|
BBmodBB
Full Member
Offline
Activity: 154
Merit: 100
BTC = FREEDOM IS OUR ONLY HOPE!
|
|
June 16, 2014, 03:02:25 PM |
|
A curiosity question for those who believe in TA (which I still don't, sorry): are its rules symmetrical with respect to up and down? Namely, if a certain pattern is supposed to impliy This and That, is the same pattern, but upside down, supposed to imply the opposite of This and That? (I am asking because I recently edited the Wikipedia article on 'cup and handle' (wait, no need to panic yet !), and it only discusses the 'upside-up' version, no mention of an 'upside-down' one. But wasn't a reversed cup and handle mentioned in this thread, some time ago? Or maybe it was some other upside-down pattern?) TA is not binary, also charting should always be reenforced by other real-time data : level 2 quotes etc...! ;-)
|
|
|
|
rebuilder
Legendary
Offline
Activity: 1615
Merit: 1000
|
|
June 16, 2014, 03:10:23 PM |
|
A curiosity question for those who believe in TA (which I still don't, sorry): are its rules symmetrical with respect to up and down? Namely, if a certain pattern is supposed to impliy This and That, is the same pattern, but upside down, supposed to imply the opposite of This and That? (I am asking because I recently edited the Wikipedia article on 'cup and handle' (wait, no need to panic yet !), and it only discusses the 'upside-up' version, no mention of an 'upside-down' one. But wasn't a reversed cup and handle mentioned in this thread, some time ago? Or maybe it was some other upside-down pattern?) I'd never call TA 'rules', but let's say the question is: do all methods apply equally to rising prices as they do to falling. No, though some do. Example of those that do apply symmetrically: moving resistances (say, based on a moving average) are considered support once they are broken convincingly. Example of those that don't: Most indicators meant to signal a reversal of some trend inside larger market trend don't. Say for example the larger market trend is a bear market, like the one we've seen since December (and that we seem to have left last month). Say further that you are planning to trade smaller "swings" inside this larger context. If you would trade purely reactive, based on momentum signals like moving averages crossovers, you would probably demand a lot more evidence that the price about to go up than that it is about to go down. In other words, you'd look at a more sensitive indicator to tell you when to sell, and a more lagging one to tell you to get back in. EDIT: if you mainly have candle patterns in mind, then I think most of those apply symmetrically (e.g. hammer vs. inverted hammer). But perhaps someone who's more knowledgeable about those can comment on that. Oda.krell, you seem like someone who might know - how much rigorous statistical evidence is there for different TA methods? Do you think the idea TA can provide an edge can be realistically tested?
|
|
|
|
bigdave
|
|
June 16, 2014, 03:49:08 PM |
|
Since the news about Tony Gwynn passing away is now breaking I'm expecting a price drop.
|
|
|
|
|