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Author Topic: To all your TA experts out there...  (Read 1583 times)
mgio
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May 09, 2013, 08:45:53 PM
 #1

Looks like a triangle/wedge thing with the price the past week, right?

Doesn't that mean the price is supposed to start soaring up soon?

I'm not going to waste my time editing a chart with MS Paint lines drawn over it. It's obvious to see.
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ElectricMucus
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May 09, 2013, 09:12:42 PM
 #2

So you are wasting our time instead?

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
SgtSpike
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May 09, 2013, 09:14:08 PM
 #3

The triangle/wedge isn't consolidating upward though (which would indicate a breakout upwards).  It is consolidating to the middle, which means it could break out either direction.

However, with the Gyft + Humble Bundle news, I think it'll break out upward.  Just a general optimistic feeling about BTC today.
mgio
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May 09, 2013, 09:17:57 PM
 #4

So you are wasting our time instead?

No, I don't need a picture, if others do they can post one.

I just want to know if it is going up or not.
ironstove
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May 09, 2013, 09:30:55 PM
 #5

It isn't a wedge, it's a triangle, and based on the shape of it I think the market is going to go down to ~100, however there is a small chance of high upside to ~125.. basing these numbers on market depth as well... so placing orders on both ends would be the smart thing to do, however you should not be basing your conclusions on a single indicator either.
UltimateReaper
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May 09, 2013, 09:35:02 PM
 #6

Looks like a triangle/wedge thing with the price the past week, right?

Doesn't that mean the price is supposed to start soaring up soon?

I'm not going to waste my time editing a chart with MS Paint lines drawn over it. It's obvious to see.

No.

No.

No.

No.













no

We exist, in a seemingly empty universe, bound by perception, and yet most people live in self created illusions and their own versions of reality. It may be, that our logic denies truth. For all we know, we are utterly wrong. We are drones, grasping at self awareness. Nothing is more important than the truth. If I could, I'd become eternal. I'd grasp power, and take myself into the infinity. I want to know, I want to understand, and I want to feel it; I am a machine... and I can know much more.
dandirk
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May 09, 2013, 09:38:10 PM
 #7





At least in the last 12 hours or so, looks to be resistance in the 113 area, with a moving support trending up...  This is very short term and I haven't supported this data with anything else...  Same thing happened 12 hours before that with a short 3 hour rise which then corrected lower again.

Will this happen again.. anyone's guess....
Abandon
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May 09, 2013, 09:48:26 PM
 #8

If you look at the big picture, there is a large wedge/triangle.
Someone else posted this the other day:
evolve
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May 09, 2013, 09:51:37 PM
 #9

No, I don't need a picture, if others do they can post one.

I just want to know if it is going up or not.

Taking financial advice from strangers on the internet is a sure way to go broke; do your own analysis and dont expect others to do the work for you.  If you must know other peoples opinions, read one or all of the many analysis threads on this subforum.
Dalib
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May 09, 2013, 09:54:11 PM
 #10

today is quite "interesting" by TA:
  • yes, triangle is almost closed
  • EMA 10 and EMA 20 are nearly coincide
  • Today's price is almost the same as the SMA 200 (hourly)
But can begin rise but also fall ...
mgio
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May 09, 2013, 10:23:53 PM
 #11

No, I don't need a picture, if others do they can post one.

I just want to know if it is going up or not.

Taking financial advice from strangers on the internet is a sure way to go broke; do your own analysis and dont expect others to do the work for you.  If you must know other peoples opinions, read one or all of the many analysis threads on this subforum.

Funny, there is no shortage of people here willing to give advice.

I'm not buying or selling any bitcoins at all this week. I'm a buy and hold investor.

I think TA is BS actually, I just was asking to see what people would say. The market has been pretty boring this week.
Dalib
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May 09, 2013, 10:35:10 PM
 #12

ok, if you buy and hold investor, you certainly know, that will buy BTC less than $ 110 and will sell for more than $ 112. And because a lot of investors they know, this is so boring this week;)
ironstove
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May 09, 2013, 10:35:26 PM
 #13

TA isn't good alone, you need to pay attention to fundamentals, which for BTC is the news as there are no other fundamentals to go by.

Market should have declined between the 6th and 7th, however an influx of good news kept the price stable with speculators rushing in i.e. China news, Coinbase funding, Bill Gate's endorsement.... However news is news, and the fact that news this good cannot cause the price to breakout is a bad sign.

It's extremely hard to call where the market will go, short term charts/trends say up, indicators long term charts point down , but whichever direction it goes, it will swing hard... I'm leveraged 33 coins/33 fiat at hand/33 fiat held up in limits so I can better adjust... It's because it's so close to the crash that it's hard to really determine where the market will fly, but my gut still says DOWN.
mgio
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May 09, 2013, 10:49:53 PM
 #14

TA isn't good alone, you need to pay attention to fundamentals, which for BTC is the news as there are no other fundamentals to go by.

Smartest thing said here all week.
Frozenlock
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May 09, 2013, 10:52:25 PM
 #15

The price movement totally disregarded the news for a month. Just saying...
Rampion
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May 09, 2013, 10:55:51 PM
 #16

TA isn't good alone, you need to pay attention to fundamentals, which for BTC is the news as there are no other fundamentals to go by.

Smartest thing said here all week.


There are other fundamentals to go by.

Infrastructure (exchanges fundamentally) is still über week for prime time

Buying bitcoins for the first time is difficult and slow

Real economy is still a peanut. Most of it, is ASIC companies taking orders for mining hardware.

But still it's improving, and real work seems to be put in Bitcoin, besides speculation

Miz4r
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May 09, 2013, 10:58:37 PM
 #17

The price movement totally disregarded the news for a month. Just saying...

You can't say that without knowing what would have happened without the news. Maybe the good news prevented a crash or further deflation of the bubble? Maybe we would have been at $70-80 or lower now without all the news.

Bitcoin = Gold on steroids
Frozenlock
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May 09, 2013, 11:11:10 PM
 #18

You can't disprove a non existent relation.

IE, you could prove there's a link between the news and the price, but I can't prove there's no relation.
Miz4r
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May 09, 2013, 11:34:18 PM
 #19

I think it's common sense to assume there is a relation between news and price, but since we're in post-bubble territory now the relation between news and price becomes confounded. Anyway you stated that there was no relation, and that statement can't be proven and thus can not be considered to be true.

Bitcoin = Gold on steroids
Frozenlock
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May 09, 2013, 11:37:59 PM
 #20

Ok, let me try again:

There's no evidence that the news influenced the price in the last month. At all.
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