(Serious talk) Bitcoin price!

[vinasky]

Ok, so recentely we saw some DISGUSTAING price changes I am going to give my explanation on it and I would really like to hear your feedback .
As an massive "Expert" in forex that i am and a slightly less massive "EXPERT" in cryptos that i am also i am going to give you my opinion on the future bitcoin price.

Ok, so lets start with the basics. The bitcoin price itself is pronounced by dollar.
It gives us the idea that bitcoin futures can be called a currency pair such as forex.

Knowing that Bitcoin is a base currency in this pair and USD(fiat) is a quote currency in this pair - we can finaly start discussing a future price.

Overall Cryptocurrencies are not affected by patterns and indicators (technical analysis), but we can't say the same about our qoute currency (USD).
So to make our technical analysis we will be using DX(DXM8) US Dollar Futures Index (i will not go into it).

Lets first look at my future DX analysis (indicators used RSI,STOCHACTIC,SAR):

https://imgur.com/aEUsU6j

And here you can see opposite simularity to the price of bitcoin:

https://imgur.com/TAx9tYI

(BOTH CHARTS ARE DAILY)

This month was great to USD, but there is upcoming double top that it wants to hit.
So i would say that there is no good opportunity for reversal of BTC price right now.
However long term after double top is what we are aiming at.
So overall my expectations is that we will see good BTC reversal or upward trend at the 2-nd to 3-rd Q of June


Have a good trading, boys, give me your feedback, what do you think about my thoughts?

[1714057301]

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[1714057301]

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[karinaloren]

Yeah, not that i am a trading expert but it makes sence...

[teilwalL05]

I am not a trading expert but the way Cryptocurrency move than in the forex are very volatile we can sure put our speculations on the test but I really think it is hard to really know the exact outcome of the given price when the expected date comes, But it is a good thing to make an assumption on what we would thing on whats gonna happen in the future value of bitcoin and other Cryptocurrency.

[Greenkarki]

I am not a trading expert but the way Cryptocurrency move than in the forex are very volatile we can sure put our speculations on the test but I really think it is hard to really know the exact outcome of the given price when the expected date comes, But it is a good thing to make an assumption on what we would thing on whats gonna happen in the future value of bitcoin and other Cryptocurrency.

Yah. Though it's hard to predict the exact price when fluctuating,  it's good not to stop predicting on price speculations. The altcoins value depends upon bitcoin mostly. So hope bitcoin price should go high with current gradual growth and reach minimum $10k by end of June or in mid of July. 

[Slow death]

what do you think about my thoughts?

being honest? I did not understand anything, maybe I'm not seeing well, these two images that you posted do not show anything, the first image I only see candles and lines that you did and wrote (double top), and that's it? Your analysis is all that? in the second image there is nothing. I've seen a lot of people doing analysis and no analysis was correct, so I do not believe in these analyzes because they always fail

Yeah, not that i am a trading expert but it makes sence...

 

I did not understand anything that is in these images that OP posted, did you understand what is in those two images that OP posted?

[richardsNY]

It's yet again another personal opinion, which is all fine, but we have literally been flooded with them in the last months and none has actually done well. The thing with all these predictions and market views is that it's quite easy to draw lines and come up with a conclusion afterwards, but that doesn't offer any advantage or useful input for what has to come. I am more a supporter of people following their own route because they somewhat stand on the same level as all other traders, the unpredictable nature of this market makes sure of that. I would even say that betting (i.e. going long or short) against the market sentiment is more rewarding than applying technical analysis before buying or selling.

[exstasie]

Overall Cryptocurrencies are not affected by patterns and indicators (technical analysis)

How do you come to this conclusion? I've been backtesting pattern, indicator and candle analysis on Bitcoin for years. TA applies just as much to cryptocurrency as anything else. Why would you think otherwise?

but we can't say the same about our qoute currency (USD).
So to make our technical analysis we will be using DX(DXM8) US Dollar Futures Index (i will not go into it).

Do you have some statistical analysis suggesting the DXY (or similar) correlates? And then, what is your system to trade this correlation?

Lets first look at my future DX analysis (indicators used RSI,STOCHACTIC,SAR):

https://imgur.com/aEUsU6j

Based on the S/R analysis alone (there are no indicators present), this is logical, although that downside target is not necessarily high probability. The pullback is expected, but not necessarily the failure below 92.

https://imgur.com/TAx9tYI

Not sure about this, dude. Doesn't look well-correlated on this time frame. And also, I can't assume your DXY forecast is correct. I prefer to wait and react to a clear breakout or failure than make these kinds of predictions.

[vinasky]

Overall Cryptocurrencies are not affected by patterns and indicators (technical analysis)

How do you come to this conclusion? I've been backtesting pattern, indicator and candle analysis on Bitcoin for years. TA applies just as much to cryptocurrency as anything else. Why would you think otherwise?

but we can't say the same about our qoute currency (USD).
So to make our technical analysis we will be using DX(DXM8) US Dollar Futures Index (i will not go into it).

Do you have some statistical analysis suggesting the DXY (or similar) correlates? And then, what is your system to trade this correlation?

Lets first look at my future DX analysis (indicators used RSI,STOCHACTIC,SAR):

https://imgur.com/aEUsU6j

Based on the S/R analysis alone (there are no indicators present), this is logical, although that downside target is not necessarily high probability. The pullback is expected, but not necessarily the failure below 92.

https://imgur.com/TAx9tYI

Not sure about this, dude. Doesn't look well-correlated on this time frame. And also, I can't assume your DXY forecast is correct. I prefer to wait and react to a clear breakout or failure than make these kinds of predictions.

Inds are not shown in order to improve image quality.(and overall did not wanted to make this post too complicated)
However, you have your point, i have mine, guess we will see)

[mostkey]

there may be some speculation about the bitcoin market movement that might outperform the crypto currency. which for the future may be an adjoining market

[vinasky]

there may be some speculation about the bitcoin market movement that might outperform the crypto currency. which for the future may be an adjoining market

Yeah, i guess, made a new post for longtermers!)
if you want to check it out - go ahead)
https://bitcointalk.org/index.php?topic=3936382.0

[Fuhre]

I am not a trading expert but the way Cryptocurrency move than in the forex are very volatile we can sure put our speculations on the test but I really think it is hard to really know the exact outcome of the given price when the expected date comes, But it is a good thing to make an assumption on what we would thing on whats gonna happen in the future value of bitcoin and other Cryptocurrency.

Yah. Though it's hard to predict the exact price when fluctuating,  it's good not to stop predicting on price speculations. The altcoins value depends upon bitcoin mostly. So hope bitcoin price should go high with current gradual growth and reach minimum $10k by end of June or in mid of July. 

yes, the prediction should still exist despite predicting the price problem is difficult, the price really fluctuates and keeps rising and falling significantly, hopefully in June and July later the price will really go up and achieve all that expected by the users. in the near future the price should reach $ 10,000 in order in the coming months later prices will rebound high as prices in 2017

[Wind_FURY]

OP, it is hard to take your "serious talk" seriously if your first sentence has words like "recentely" and "DISGUSTAING". Hahaha.

Plus this first reply. Hahahaha!

Yeah, not that i am a trading expert but it makes sence...