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Author Topic: Bitcoin Charts Technical Indicators  (Read 1890 times)
xali
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August 17, 2011, 06:25:41 PM
 #1

HOW DO I USE THEM?!?

I'd rather not get an economics degree so please can someone more informed help me and the rest of the board out? Which do you use? What do they mean?

Smiley ;/)
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xali
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August 17, 2011, 06:34:58 PM
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After going through every single one of them I just found my personal favourite. Positive Volume Index.

Smiley ;/)
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August 18, 2011, 03:05:48 AM
 #3

After going through every single one of them I just found my personal favourite.

i had a favorite kind of similar to that ... it worked perfectly, until all of a sudden it didn't.

be careful with placing much value on  charts with bitcoin.  it is still such an immature instrument and is easily manipulated, in either direction.
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August 18, 2011, 12:41:20 PM
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Also the guy that runs the technical analysis blog bases everything on incredibly long term things, and I don't think you can do that with something as volatile as bitcoins. Also MACD and RSI drastically changes depending on how "accurate" you get by changing the difference in time period between each point; not entirely sure what this means but I know it can't be good.

Smiley ;/)
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August 18, 2011, 12:52:29 PM
 #5

http://www.google.com/trends?q=bitcoin

More Bitcoins are currently made each day than bought. It takes a huge influx of new buyers for the price to shoot up as with the $30 high.

Google trends shows several things, most importantly how many people have just heard about Bitcoin and want to find out more. There will be a conversion rate between searching for Bitcoin in Google and purchasing Bitcoins at an exchange. Sadly that info is not public knowledge but it's possible the big exchanges track conversions with Google analytics.


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xali
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August 18, 2011, 02:22:14 PM
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Oh yea I've been looking at the trends too; it looks so pathetically flat Sad.

I also tried seeing any similarities with silkroad and tor, and there actually was a few increases with silkroad and bitcoin at a couple crests; though I think silkroad is also more often searched for a different silkroad than the one I'm thinking of which would explain why it wouldn't line up most of the time.

Smiley ;/)
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