spiral_mind (OP)
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October 26, 2013, 12:15:05 AM |
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Read more about the cup and handle: http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_cont The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.
As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.
Cup: Handle:
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Walsoraj
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October 26, 2013, 12:15:59 AM |
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no.
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adamstgBit
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Trusted Bitcoiner
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October 26, 2013, 12:17:35 AM |
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yes.
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SheHadMANHands
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October 26, 2013, 12:19:08 AM |
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Seems too good to be true, but I guess we'll see. May be some more consolidation in order first.. Some unexpected, random whale dumps can always fck up any pattern in Bitcoin.
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SheHadMANHands
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October 26, 2013, 12:24:40 AM |
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Since this got no love earlier.... and it took me freakin 10 whole minutes to artistically assemble...
The mother... Of all of the cups...
And every handle that ever lived...
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JustAnotherSheep
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October 26, 2013, 12:33:02 AM |
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6 month cup and 2 day handle? Seriously?
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Is it a bull? Is it a bear? No, it's just another sheep.
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SheHadMANHands
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October 26, 2013, 12:44:25 AM |
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6 month cup and 2 day handle? Seriously?
Good point. Make the handle longer... I don't think we're going to be able to make the cup smaller.
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Zangelbert Bingledack
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October 26, 2013, 03:45:01 AM |
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Yeah, after a week or so of bouncing around $200 there will be more of a handle.
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spiral_mind (OP)
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October 27, 2013, 08:30:45 PM |
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Yes 2 days was a short "handle" but obviously it wasn't done forming yet, and still isn't. Still looks on track to me though:
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windjc
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October 27, 2013, 10:44:55 PM |
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There is no cup and handle pattern happening.
However, what is happening now seems to be a microcosm of what the market has done since April, with a the bottom a few days ago being similar to the one in July.
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freethink2013
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October 27, 2013, 11:20:03 PM |
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These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.
There's two things:
1. Supply. 2. Demand.
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SheHadMANHands
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October 27, 2013, 11:49:26 PM |
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These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.
There's two things:
1. Supply. 2. Demand.
Actually pretty solid reason behind the cup and handle: http://www.investopedia.com/terms/c/cupandhandle.aspOf course, it's really all an attempt to determine what's most probable of happening next. It's not like "oh, gee.. obvious cup and handle. 100% we're going through the roof soon". 55% confidence would be pretty profitable.
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afbitcoins
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October 28, 2013, 03:52:50 PM |
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For fun, heres a giant one in silver spanning decades
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Rannasha
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October 28, 2013, 04:20:32 PM |
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These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.
There's two things:
1. Supply. 2. Demand.
Actually pretty solid reason behind the cup and handle: http://www.investopedia.com/terms/c/cupandhandle.aspThat's hardly a solid reason being mention in that link, it's not even a reason. It's just a description what supposedly happens in the pattern. Most technical "analysis" is more like astrology, pseudo-science trying to divine occult patterns from observations without proper application of scientific methods. There is a point to be made for round number and previous ATH/ATL values acting as a psychological barrier (support/resistance), but most of the other line-on-chart-drawing seems to be rather silly to me.
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notme
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October 28, 2013, 04:24:38 PM |
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Previous trades indicate current positions. Current positions influence future trades.
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afbitcoins
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October 28, 2013, 04:34:38 PM |
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These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.
There's two things:
1. Supply. 2. Demand.
Actually pretty solid reason behind the cup and handle: http://www.investopedia.com/terms/c/cupandhandle.aspThat's hardly a solid reason being mention in that link, it's not even a reason. It's just a description what supposedly happens in the pattern. Most technical "analysis" is more like astrology, pseudo-science trying to divine occult patterns from observations without proper application of scientific methods. There is a point to be made for round number and previous ATH/ATL values acting as a psychological barrier (support/resistance), but most of the other line-on-chart-drawing seems to be rather silly to me. Why trash Technical Analysis in the Speculation forums ? Do you prefer we just pull numbers out our asses ? Why are you here ?
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NamelessOne
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October 28, 2013, 05:02:37 PM |
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These people come up with arcane theories based on no real examination of the market but completely on the shape of the charts make me laugh. No clue was had that day.
There's two things:
1. Supply. 2. Demand.
Actually pretty solid reason behind the cup and handle: http://www.investopedia.com/terms/c/cupandhandle.aspThat's hardly a solid reason being mention in that link, it's not even a reason. It's just a description what supposedly happens in the pattern. Most technical "analysis" is more like astrology, pseudo-science trying to divine occult patterns from observations without proper application of scientific methods. There is a point to be made for round number and previous ATH/ATL values acting as a psychological barrier (support/resistance), but most of the other line-on-chart-drawing seems to be rather silly to me. Why trash Technical Analysis in the Speculation forums ? Do you prefer we just pull numbers out our asses ? Why are you here ? +1, TA is simply the analysis of the psychology of people playing out on the market. It is really quite fascinating.
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JimboToronto
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You're never too old to think young.
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October 28, 2013, 05:24:43 PM |
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Why trash Technical Analysis in the Speculation forums ? Do you prefer we just pull numbers out our asses ? Why are you here ?
Not all speculators are TA devotees. While I don't dismiss TA personally, I do take it with a large grain of salt when applied to Bitcoin. Even scientists have been known to check their horoscopes. It's fun.
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MAbtc
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October 28, 2013, 05:32:56 PM |
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Why trash Technical Analysis in the Speculation forums ? Do you prefer we just pull numbers out our asses ? Why are you here ?
Not all speculators are TA devotees. While I don't dismiss TA personally, I do take it with a large grain of salt when applied to Bitcoin. Even scientists have been known to check their horoscopes. It's fun. Do you not take it with a grain of salt when applied to other markets? Why is bitcoin any different?
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yayayo
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October 28, 2013, 05:38:06 PM |
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I'm also bullish for the coming weeks. But not because of that cup and handle pattern. Simply because of the increasing awareness on Bitcoin. +1, TA is simply the analysis of the psychology of people playing out on the market. It is really quite fascinating.
TA is the attempt to analyze the market psychology. Most prediction methods in TA are not based on sound empirical evidence and are simply not reliable in the long term. Regarding pattern analysis: You can always interpret different patterns from the very same chart. Patterns can evolve over time - so what seems to be a cup and handle pattern now could be a double top later... However I think it is indeed useful to pay attention to volume and advance/decline slopes to come to conclusions about market force and possible exhaustion of a rise/decline in price. ya.ya.yo!
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