TIME TO BUY! Parabolic SAR just flipped the side

[Hyena]

Pic related. I hereby speculate that at least a short term rally is coming and we might see triple some serious digits again.

Edit on August 14, 2013:


Original content from July 10, 2013:

[ElectricMucus]

Never use parabolic sar as a complete trading system.

You see it failing at the beginning of the chart during the uptrend. The same thing could happen now.

[Hyena]

Yes. However, it concerns me that everyone is thinking that the downtrend will be pretty much a copy paste from the last big bubble. Therefore the downtrend might end earlier than people think. There seems to be increasing number of bitcoin related news lately and google trends for BITCOIN starts to take off again (http://www.google.com/trends/explore?q=bitcoin#q=bitcoin&cmpt=q).

[dnaleor]

Yes. However, it concerns me that everyone is thinking that the downtrend will be pretty much a copy paste from the last big bubble. Therefore the downtrend might end earlier than people think. There seems to be increasing number of bitcoin related news lately and google trends for BITCOIN starts to take off again (http://www.google.com/trends/explore?q=bitcoin#q=bitcoin&cmpt=q).

also, number of new members and posts is stabelizing/going up again

[MAbtc]

This is the first bounce after dropping from 110 to 65. You really think that means the downtrend is over?

[ElectricMucus]

There ought to be bounces in the search engine interest too. And it doesn't lead the price, it follows it.

And if anything the more people compare this to 2011 the more similar it will be. I'm not saying it will happen and open for the possibility of something else, but should it occur I'm fine with it.
What also could happen is a downtrend in the excess of 2011 which would take several years. Not that I think it is likely but I'm open for the possibility.

[Hyena]

This is the first bounce after dropping from 110 to 65. You really think that means the downtrend is over?

Well it depends on what scale downtrend we're speaking of. I'd say we're going to see some green candles for a while. After that I have no idea what happens but if you're planning to buy some SR goods in the next couple of weeks then it seems like a good time to buy some coins to be spent soon

[ElectricMucus]

This is the first bounce after dropping from 110 to 65. You really think that means the downtrend is over?

Well it depends on what scale downtrend we're speaking of. I'd say we're going to see some green candles for a while. After that I have no idea what happens but if you're planning to buy some SR goods in the next couple of weeks then it seems like a good time to buy some coins to be spent soon

What also could happen is a smack-down today in which case psar would go back where it was.

[Hyena]

This is the first bounce after dropping from 110 to 65. You really think that means the downtrend is over?

Well it depends on what scale downtrend we're speaking of. I'd say we're going to see some green candles for a while. After that I have no idea what happens but if you're planning to buy some SR goods in the next couple of weeks then it seems like a good time to buy some coins to be spent soon

What also could happen is a smack-down today in which case psar would go back where it was.

I'm not arguing that , it's a gamble anyway.

[xorglub]

It did flip at $166 too...

[notme]

More on PSAR:
https://bitcointalk.org/index.php?topic=59971.0

OP didn't set a custom date for the chart though, so it is showing current prices

[nrd525]

The google trends chart looks a lot worse if you use the more precise scale of the past 90 days or past year.  Basically we're sitting at around 2-4 times the level in Jan/Feb.  Which would make it worth $25-$55.

[Kazu]

Parabolic Sar is good a lot of the time, but much of the time its an epic fail.

Personally I'd say it should probably be in most strategies, but the sar in and of itself does not constitute a strategy. Sar will tell you potential direction switch, you need another indicator to confirm the direction switch and ensure that it will move far enough in that direction.

[Hyena]

And we have another dot supporting the new uptrend.. It could also be only very slight uptrend, meaning that the price stays in the range of 80 - 90 for some time. If we bought in at the lower side of current Bollinger band (80$) then time to sell would be near the price of 100$ or maybe 90$ to be more realistic.

[chufchuf]

This is the first bounce after dropping from 110 to 65. You really think that means the downtrend is over?

there's nothing to it, its not a matter of the graph. it just dropped a whole bunch because of gox doubt, then lurches up or down depending on the updates. look at the service section, after all the whining about how gox is bankrupt and ponziing everyone, now there's whining about how gox delays transfers INTO gox...

bears, bears, less of a case than penis in lesbos island

[Hyena]

Anyway, my point has been that market is unpredictable. This means that the thing that anyone would not predict right now is that price stays above 80$ and never falls down to 30$ as so many predict.

Let's look it that way: in 2011 there were very few people in this whole bitcoin business compared to today. Therefore it took more time for the price to find its after-crash bottom. Now the rate of just about everything bitcoin related happening out there is surely much higher than in 2011. And from here we can deduce that the after-bubble downtrend may end up sooner than in 2011.

[tutkarz]

Its somehow funny. People are using bitcoin buying it and selling while moving money around the world and some people here are sitting and creating monsters out of the charts fighting each other who is right and who arnt while trying to predict the price. Bitcoin is volatile because it is used. It would be dead if there was no transactions with it and its the opposite actually.

Just try to imagine if someone simply wants to transfer money from usa to china using bitcoins for his order payment for few mils of dollars, how it affect price and what is going on here while people are announcing end of bitcoin or rocket launches when one guy just buys and sells the same bitcoins after few days finalizing his transaction. Maybe he doesnt even know about this forum and wants simply to send his money somewhere else ...

[lucas.sev]

Its somehow funny. People are using bitcoin buying it and selling while moving money around the world and some people here are sitting and creating monsters out of the charts fighting each other who is right and who arnt while trying to predict the price. Bitcoin is volatile because it is used. It would be dead if there was no transactions with it and its the opposite actually.

Just try to imagine if someone simply wants to transfer money from usa to china using bitcoins for his order payment for few mils of dollars, how it affect price and what is going on here while people are announcing end of bitcoin or rocket launches when one guy just buys and sells the same bitcoins after few days finalizing his transaction. Maybe he doesnt even know about this forum and wants simply to send his money somewhere else ...

Bitcoin is volatile because 90% of this use you are mentioning is speculation.

[Hyena]

Each time BTC charts start to look more erect it gets wet dreams and premature ejaculation. Let's face it, Bitcoin is just in its puberty right now and this is what you get.

[derpinheimer]

JUST SAYIN'