Bitcoin Forum
January 29, 2020, 01:29:35 AM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 3  All
  Print  
Author Topic: ichimoku cloud says 3100$ is the cheapest bitcoin will ever be  (Read 17674 times)
mikeywith
Hero Member
*****
Offline Offline

Activity: 658
Merit: 1853


be constructive or S.T.F.U


View Profile
December 20, 2018, 01:10:14 AM
Last edit: December 20, 2018, 10:17:35 PM by mikeywith
Merited by criptix (5), STT (1), bones261 (1)
 #1


  



it is all in the picture, every time the red cloud showed up on the weekly chart, it marked the lowest price and the end of a bear market.

happened in 2012 >2015 and could possibly repeat again this time.  Roll Eyes Roll Eyes Roll Eyes


if history is to repeat itself, then expect around 300 days of sideways market between 3 and 6k, end of 2019 will be the beginning of the new bull run. mid to end 2020 we hit a new ATH.

maybe !  Grin


** sorry forgot to mention that if we close below this current support then bulls are doomed and going straight to rekt city. i highlighted on one of my comments how crucial this support is on a monthly scale, it does not matter if we had a wick down to 2.5 what so ever, but going below 2900 and not going back up straight away is very likely a 3 digits bitcoin again. as the next major supports sits between 900-1100$

** also I do not advice anyone to get married to one direction of the chart, just because I think this is the bottom it does not mean if it doesn't hold I will HODL my btc till they drop to 1k or even 1.8k, i will short to re-buy cheaper. as goes the other way around, i will be selling the moment i see 4500 all the way to 5500 as we approaching strong resistance.

this is not a financial advice what so ever. do your own research , trade smart .

1580261375
Hero Member
*
Offline Offline

Posts: 1580261375

View Profile Personal Message (Offline)

Ignore
1580261375
Reply with quote  #2

1580261375
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
davis196
Hero Member
*****
Offline Offline

Activity: 1400
Merit: 562



View Profile
December 20, 2018, 06:46:01 AM
 #2

What the hell is an ichimoku cloud and why does it matter?
In the chart,the "cloud" appears 2 times when the bitcoin price is going up(2012-2013 and 2015-2016).
The last appearance is in the current bear market.That doesn't prove anything.

.
.
.
▄███████████████████▄
█████████████████████
████████████▀▀░░░░███
███████████▌░░░░░░███
███████████░░░░██████
███████████░░░░██████
████████░░░░░░░░░░▐██
████████░░░░░░░░░░███

███████████░░░░██████

███████████░░░░██████

███████████░░░░██████

███████████░░░░██████

▀██████████░░░░█████▀
▄███████████████████▄
█████████████████████
█████████████████████
████▀██████▀░░░▀▀▄███
████░░▀▀███░░░░░░▄███
████▀░░░░░░░░░░░▐████
████▄░░░░░░░░░░░█████
█████▀░░░░░░░░░▄█████

████▀█▄░░░░░░░▄██████

█████▄░░░░░▄▄████████

█████████████████████

█████████████████████

▀███████████████████▀
▄███████████████████▄
█████▀▀▀▀▀▀▀▀▀▀▀█████
███░░░▄▄▄▄▄▄▄▄▄░░░███
██░░▄█████████▀▀▄░░██
██░░███▀▀░░░▀▀▄▄█░░██
██░░██▀░▄███▄░▀██░░██
██░░██░░█████░░██░░██
██░░██▄░▀███▀░▄██░░██

██░░███▄▄░░░▄▄███░░██

██░░▀███████████▀░░██

███░░░▀▀▀▀▀▀▀▀▀░░░███

█████▄▄▄▄▄▄▄▄▄▄▄█████

▀███████████████████▀
▄███████████████████▄
█████████████████████
█████████████████████
██████████████▀▀▀████
██████████▀▀░░░░▐████
██████▀▀░░░▄▀░░░█████
████░░░░▄▄▀░░░░▐█████
██████▄▐█░░░░░░██████

███████▌▌░░░░░▐██████

████████▄██▄▄░███████

█████████████████████

█████████████████████

▀███████████████████▀
.
harizen
Legendary
*
Offline Offline

Activity: 1778
Merit: 1258



View Profile
December 20, 2018, 07:02:05 AM
 #3

I see people nowadays always likes to draw on chart and if they saw some "formation" , THAT'S IT!

Thanks for the bearish market this year. Without it, their drawing skills will not be enhanced. /lol/

Anyways that's your speculation. I don't really depend on "some" indicators even how well it was backed up it is if we have to applied it on bitcoin price movement.

Goodluck everyone.

███████ ███████ ███████
███████ ███████ ███████
███████ ███████ ███████
███████ ███████ ███████
▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄
███████ ███████ ███████
███████ ███████ ███████
███████ ███████ ███████
▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀
███████ ███████ ███████
███████ ███████ ███████
███████ ███████ ███████
███████ ███████ ███████
..SudokuWallet..██
██
██
██
██
██
██
██
██
██
██
██
██
                     ▄▄████▄▄
                    ▄████████▄

         ▄▄█████▄▄  █████████████████
       ▄███████████████████████████████
      ▄████████████████████████████████
      ██████████████████████████████████
      ▀██████████████████████████████████████▄▄
       ▀█████████████████████████████████████████▄▄
     ▄█████████████████████████████████████████████████▄▄▄▄▄
 ▄▄▄█
████████████████████████████████████████▀▀██████████████████▄
▀▀▀█████████████▀▀▀███
██████▀▀▀███████████           ▀▀▀▀▀▀▀
      ▀████████▀      ▀▀▀▀▀       ▀███████▀
       ▀▀████▀▀
██
██
██
██
██
██
██
██
██
██
██
██
██
          ▄ ▄▀▄
         █▄▀▄▀
        ███▀
      █▄██

       █
██
    ▄▄▀
   ██▄▄
  ▄▀  ▄▀ █
████▄
 █  ▄▀ ▄  █
█████
█ ▄▀  ▄▀ █ █
██████
█ █ ▄▀ █  ██
██████
▀▄▀▄█ █  ███
█████▀
 ▀▄▀█▄ █ ██
█████▀
   ▀▀████
████▀▀
stelee68
Member
**
Offline Offline

Activity: 657
Merit: 19


View Profile
December 20, 2018, 07:17:07 AM
 #4

What the hell is an ichimoku cloud and why does it matter?
In the chart,the "cloud" appears 2 times when the bitcoin price is going up(2012-2013 and 2015-2016).
The last appearance is in the current bear market.That doesn't prove anything.

Ok I will have to be candid with you peeps...

Every time I feel a tingling sensation in the rear, I will tilt to one side (usually to the left) and let it go.

The air that escaped became one of the most poisonous and toxic gas known to human, and all living things that has legs in close proximity are advised to leave the area immediately. It may sometimes trigger a slight giggle from me.

The formation of the said gas is cloud-like, and it may or may not be ichimoku cloud, but its definitely an itchy stinking cloud!
 

GenesisP2P Payment Ecosystem  │ GITHUBPOOLSEXPLORERBLOCK TRACKER☑ No ICO/Auction  
Equihash 192.7 ● ─[ Secure & Private Cryptocurrency ]─ ● ────[ ForumFaucetExchangeAirdrops & Bounties ]──── ● ☑ No pre-mine      
 POW/MNs     │SOLUTION FOR BUSINESSES AND E-COMMERCE│           ANNTWITTERDISCORDREDDIT           │ ☑ Fair Launch    

Full/Sr Member:
Code:
butka
Full Member
***
Offline Offline

Activity: 434
Merit: 221


View Profile
December 20, 2018, 07:33:08 AM
 #5

First of all, we are still way below the (red) Ichimoku cloud. That means we are still in bearish territory. It could still go up or down, but the overall bearish trend is there.

The necessary condition for a bullish run is

1. a TK cross (blue line above the red line), which is not about to happen,
2. the price to go above the cloud, which is also not happening any time soon.

In addition, the cloud is becoming thicker, which could mean sideway action for longer periods of time.
exstasie
Hero Member
*****
Offline Offline

Activity: 1428
Merit: 922


View Profile
December 20, 2018, 07:44:45 AM
 #6

What the hell is an ichimoku cloud and why does it matter?

It's a technical indicator. I don't use it myself, but I know many traders that swear by it. Here's a brief summary:

Quote
The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines support and resistance, identifies trend direction, gauges momentum and provides trading signals. Ichimoku Kinko Hyo translates into “one look equilibrium chart”. With one look, chartists can identify the trend and look for potential signals within that trend.

In the chart,the "cloud" appears 2 times when the bitcoin price is going up(2012-2013 and 2015-2016).
The last appearance is in the current bear market.That doesn't prove anything.

The daily cloud flipped bearish shortly after the 2011 crash ended and shortly before the 2014 crash ended. The OP is suggesting the bear market may be ending because it's happening again. We obviously won't know until many months have gone by (same as 2012 and 2015), but it's possible.

rodalutor
Full Member
***
Offline Offline

Activity: 364
Merit: 105


WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN


View Profile
December 20, 2018, 09:24:45 AM
 #7

Well so far so good on that prediction. $4000 was just broken a short while ago. Still it's going to be a long way until bitcoin is clear of any potential new lows in this market. We saw how quickly the price fell from $6000 when it eventually did fall. Let's hope the cloud is right.

           ﹏﹏﹋﹌﹌ WPP ENERGY ﹌﹌﹋﹏﹏
☆═══━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═══☆
≈ WORLD POWER PRODUCTION ≈


【 BACKED ASSET GREEN ENERGY TOKEN 】
☆═━┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈┈━═☆
dreamax25
Full Member
***
Offline Offline

Activity: 335
Merit: 103


View Profile
December 20, 2018, 09:28:13 AM
 #8

Just recently, Mark Dow, a trader and economist who worked at the U.S. Treasury and the International Monetary Fund, has closed his short position on Bitcoin!

https://coincodex.com/article/2779/mark-dow-a-trader-who-shorted-the-bitcoin-top-has-closed-his-position/
mahilchii
Member
**
Offline Offline

Activity: 406
Merit: 10


View Profile
December 20, 2018, 12:55:26 PM
 #9

Well so far so good on that prediction. $4000 was just broken a short while ago. Still it's going to be a long way until bitcoin is clear of any potential new lows in this market. We saw how quickly the price fell from $6000 when it eventually did fall. Let's hope the cloud is right.

Yes it's good to see the market right now from last week, BTC is going great and it needs to be continued for a while . Something is better than nothing I was likely to sell my coins after a long wait but I have changed my mind now to hodl for few more days.

[   B E S T   C H A N G E   ]       Best Rates For Exchanging Cryptocurrency
●          ►          Buy bitcoin with credit card  ✓          ◄          ●
FACEBOOK               TWITTER               INSTAGRAM               TELEGRAM
shield132
Hero Member
*****
Offline Offline

Activity: 1358
Merit: 565


Crypto Exchange - Secure & Anonymous


View Profile
December 20, 2018, 01:30:49 PM
Merited by LoyceV (1)
 #10

I see people nowadays always likes to draw on chart and if they saw some "formation" , THAT'S IT!

Thanks for the bearish market this year. Without it, their drawing skills will not be enhanced. /lol/

Anyways that's your speculation. I don't really depend on "some" indicators even how well it was backed up it is if we have to applied it on bitcoin price movement.

Goodluck everyone.
Also I see people like to use charts these days but you are hilarious lol, is bitcoin's price movement begining of the new era of great painters/drawers? lol
OP I agree with you that we will see high rise in 2019 and new most time high in 2020 but have different opinion. Bitcoin is so unpredictable, we can't only think with charts. But let's think about mining too, this plays a huge role. One fact is that after halving, people almost believe price will rise and have very positive imaginations on it + miners really need high price. In 2020 we will got as much rise (if not more) as we got last year.

█▀▀▀











█▄▄▄
|
▄▄█████▄▄
▄███████████▄
▄███████████████▄
▄██▀███████████▀██▄
▄█████▀███████▀█████▄
████████▀███▀████████
██████████████████
████████▄███▄████████
▀▀▀▀██████▄██████▀▀▀▀
█████████
▀███████████████▀
▀███████████▀
▀▀█████▀▀
▄▄█████▄▄
▄███████████▄
▄███████████████▄
▄█████████████████▄
▄████████████████▀██▄
██████████████▄██████
█████████████████████
████████████▀████████
▀█████████████▄█████▀
▀█████████████████▀
▀███████████████▀
▀███████████▀
▀▀█████▀▀
.
Trusted by ✔
MONERO
& DASH
|◆  OVER 115 COINS 
◆  FIXED RATE 
◆  NO REGISTRATION 
▀▀▀█











▄▄▄█
BitBustah
Hero Member
*****
Offline Offline

Activity: 1232
Merit: 534



View Profile
December 20, 2018, 02:22:15 PM
 #11

I agree with his assessment, we will never see bitcoin under $3000 again.  There are just too many financial institutions that are entering the crypto space.  Once prices get this low people get greedy because they can easily 5x their money from these price points by simply holding.  This will likely be the last chance you have to get very rich off crypto with little work.
proudhon
Legendary
*
Offline Offline

Activity: 1428
Merit: 1025



View Profile
December 20, 2018, 03:23:13 PM
 #12

We will see sub-$3,000 bitcoins. There's really no question about it. We'll see sub-$1,000 bitcoins eventually, because bitcoin is on a long term down trend to zero, just look at the charts and read the sources.

When I use the word "higher" in a sentence I actually mean lower.
dothebeats
Legendary
*
Offline Offline

Activity: 2072
Merit: 1158


Crypto-Games.net: Multiple coins, multiple games


View Profile
December 20, 2018, 03:45:53 PM
 #13

While the patterns seem to indicate a sign of growth, I'm still not buying it, or at least I'm not convinced that we're already out of the bear market. It needs more than just breaking the current resistance IMO, though there had been a lot of shorts that had been closed in the past 2 days of trading. Even then I'm still expecting yet another crash before a sideways movement for the rest of 2019, with a potential bull run starting by 2020, and until then these picture are just projections and assumptions.

▄▄█████████▄▄
▄█████████████████▄
▄████▀▀▀▀█████▀▀▀▀████▄
████▀██████▀█▀██████▀████
██████████████████████████
▐█████▄███████████████▄█████▌
▐███████▄▄█████████▄▄███████▌
▐██████▀█████████████▀██████▌
▐███████████████████████████▌
▀██████████████████████▀
▀████▄████▄▀▀▄████▄████▀
▀███████▀███▀███████▀
▀▀█████████████▀▀
  ▀▀▀▀▀▀▀▀▀
|
★.★.★   8 GAMES   ★   WAGERING CONTEST   ★   JACKPOTS   ★   FAUCET   ★.★.★
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▄█▀█▀█▄

 ▀███▀
  ▄▄▄
▄██▀▄█▄
██▀▄███
 ▀▄▄▄▀
  ▄▄▄
▄█ ▄▀█▄
██ █ ██
 ▀▄▄█▀
  ▄▄▄
▄▀▄▄▄▀▄
█▀▀▀▀▄█
 ▀███▀
  ▄▄▄
▄▀   ▀▄
█  █▄ █
 ▀▄██▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▀ █ ▀
▀▀▄▀▀
 ▀▄█▄
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
|
beerlover
Legendary
*
Offline Offline

Activity: 1484
Merit: 1065


Crypto Exchange - Secure & Anonymous


View Profile
December 20, 2018, 04:13:55 PM
 #14

Like ever in history ? Or for now ? Ichimoku can't show you what the price will be in 2030 or something, of course can't even in 2019 properly but I just wanted to give an exaggerated example. This means 3100 can't be achieved these days, probably won't go down that much, however if the price goes up a bit and than another whale who bought a lot during the sub 4000 levels could potentially sell all of their coins all at once (again) and create a bear run that will continue with the panic sellers doing their thing and we can be under 3100 once again.

Ichimoku is here for the short term possibilities, but when you put in extra unexpected things into play there is nothing that can keep bitcoin over 3100 (technically speaking). That being said, I still think bitcoin can go back to 6500 thousand dollar levels without a problem.

█▀▀▀











█▄▄▄
|
▄▄█████▄▄
▄███████████▄
▄███████████████▄
▄██▀███████████▀██▄
▄█████▀███████▀█████▄
████████▀███▀████████
██████████████████
████████▄███▄████████
▀▀▀▀██████▄██████▀▀▀▀
█████████
▀███████████████▀
▀███████████▀
▀▀█████▀▀
▄▄█████▄▄
▄███████████▄
▄███████████████▄
▄█████████████████▄
▄████████████████▀██▄
██████████████▄██████
█████████████████████
████████████▀████████
▀█████████████▄█████▀
▀█████████████████▀
▀███████████████▀
▀███████████▀
▀▀█████▀▀
.
Trusted by ✔
MONERO
& DASH
|◆  OVER 115 COINS 
◆  FIXED RATE 
◆  NO REGISTRATION 
▀▀▀█











▄▄▄█
mikeywith
Hero Member
*****
Offline Offline

Activity: 658
Merit: 1853


be constructive or S.T.F.U


View Profile
December 20, 2018, 04:42:45 PM
Last edit: December 20, 2018, 05:03:34 PM by mikeywith
Merited by criptix (5), bones261 (1)
 #15

 Most people who troll TA's are the moon boys who HODLED btc from 19k and probably sold at 3k.  this is normal in every market for someone to make money a noob on the other side of the exchange has to lose it.

the same people who called for 100k the beggining of the year, are now calling for 0 on bitcoin. it's funny how many people including some early adopters did not bother spend sometime learning to read charts. millions of people make living by doing so, billions of dollars are being made on BTC chart and the noobs will still say TA is pure bullshit. it's funny but i could care less  Grin


if you know how to do TA then you would have probably sold at 5700$ >





A few  days ago i was still bullish on bitcoin as it stayed strong above major support  trend as well as horizontal support support of 5800$-6100$. the bulls defended that area for from the beginning of the dip on Feb, the long positions on that area were always big enough to bring price up as soon as it mingles around those prices.

this time however, it's pretty different. price went pass them like they were nothing. the area from  5800 to 6100 is has now formed a very strong resistance levels that do not seem to be broken before making a considerable low.

I do believe there could be one more bull-trap before we head down. but most likely nothing major.

The next support would be 4900 which happens to be both trend line as well as a horizntal support formed on Aug 2017 " previews resistance". yet i would not count on that to be a kick start for a new bull run. price will surely bounch back from there only for correction.

breaking lower the 4900 will easily take us to 2900-3100 which is a strong support formed on Sep 2017 from a previous resistance formed on June 2017, what's more interesting that price meets the concept of "history repeating it self" which is about 85% drop from ATH that started in late 2013.

this is the most likely scenario that i expect now, however the hardest part would be the timing. if history is to repeat itself then we will remain a bear market till around Sep 2019 before the next bull run starts.

-------------------------

From a fundamental point of view. recently Crypto has not made anything noticeable that could make it attracting enough to be 2-3 Trillion market.

we see new shit coins every day, most which has no purpose, many scam projects. and recently the hash-war of BCH is one simple example of why the world still think crypto is a risky and easily manipulated market.

we will need couple more months to clear out the path for the true vision of crypto for preparation of mass adoption. as with this situation,prices are as best as they get.


no fud here, just trying to point out the facts. i want nothing more than BTC going to 1 million over night. but this is just not happening.

being realistic can save you from future coming events that may break your heart.

----------------------------------------------------------------------------------

24/11/2018  9:55 pm (GMT)
UPDATE : BTC is down about 30% from the time I posted this, some moon boys probably did not like what i said, some said TA is B.S . but if even 1 person took my analysis seriously and benefited from this i am glad enough.

currently btc is trading at  3940$ on binance .

we will see some relief from here, but most likely only a bear flag that will only bring another dip.

my strategy is to buy into this market slowly as the bull run could happen any time, but major buys will be around 2900-3100$ .  i might increase my buying postion at 3500$ area if i see some good price action.


as i mentioned in one of the comments, the only way for BTC to really be in a bull market is with a daily close above 7500$ with some huge volume, aside from that any surge is nothing but a good chance to short.








and again if you looked at the chart you would re-buy at  around 3220$





waiting for a break out. Shocked






nicely done, approaching resistance so getting ready to close my long position , i might open short positions should i see a reversal candle.

 
and once we broke the 3700 yesterday you would entered in more buying positions. and waiting for  4500$ to take partial profit and most likely sell everything and short everything if the price goes to 5500$.

there are TONS of trades that can be made, my portfolio BTC wise had almost 70% increase from the last fall of the large triangle . and i am not even a professional , i know scalpers who trade on the 1 and 5 mins chart who are up at least 300%.

and you still get the Moon boys who now are the same noobs calling for infinity to the downside.

I am not betting the house that this is the bottom, but the signs are there, if it is the bottom i'l be happy, if it's not then the charts will show it and i will short the hell out of it and still make profit while you can sit there with your crystal ball and wait for BTC to go wherever you wish to see it.

I post my TA's to people who know what it is and they like it and benefit from it. if you are so mad because you hodled btc for so long and sold at 3k and got rekt both ways then these posts should be the least of your concern. Roll Eyes


First of all, we are still way below the (red) Ichimoku cloud. That means we are still in bearish territory. It could still go up or down, but the overall bearish trend is there.

The necessary condition for a bullish run is

1. a TK cross (blue line above the red line), which is not about to happen,
2. the price to go above the cloud, which is also not happening any time soon.

In addition, the cloud is becoming thicker, which could mean sideway action for longer periods of time.

I do not think you even looked at the chart. whenever the red cloud appeared it marked the lowest price. while it is true that as long as we are below the cloud the overall trend is still bearish but if you look closely then you will understand that the the lowest weekly candle appeared right after the cloud was showing.

if the picture is not clear enough then you can use the BLX chart on TV which has a 7 years worth of data and zoom in to every lowest weekly candle , draw the vertical line and it will perfectly line up with the beginning of the cloud.

indeed i do not give much weight to Ichimoku cloud , but it had to match more important factors such as a major support area plus 50 moving average on the monthly chart as well as the weekly 200  MA all these SMAs were never broken below from the begging of btc.

you can look at it here > https://bitcointalk.org/index.php?topic=5084972.msg48670288#msg48670288


-----------------------------

I do not like to make long term analysis, i stick to present and follow the chart as it goes regardless, but this could be helpful for the noobs who were selling at 3k.

I do not understand why would someone hodl all the way fro 10k or 15k and sell now , even if 3k was not the bottom, then it can't be too far. it would be either 1800 or worst case scenario at 1100 which marks the last ATH of 2013 and probably is the strongest support of BTC history.

even assuming we were to fall to sub 1000$ and you are not a day trader, does it really make sense to sell at 3k? ofcoz not.


mexxer-2
Hero Member
*****
Offline Offline

Activity: 924
Merit: 1003


4 Mana 7/7


View Profile
December 20, 2018, 05:36:43 PM
 #16

Sure Ichimoku is a somewhat good indicator, but indicators go wrong all the time. This has been tried extensively in other currency pairs and its not even that reliable these days

STT
Legendary
*
Offline Offline

Activity: 2338
Merit: 1184


LuckyB.it is Back!


View Profile WWW
December 20, 2018, 06:29:51 PM
Merited by criptix (1), mikeywith (1)
 #17

Dont rely on just one view, we saw this with the 6000 support area.   It was called time by a few different views but took some time to develop into a negative scenario.   The indicators etc werent wrong exactly but confirmation is usually needed for a position to progress.
Cloud might be right but I want to see it across a few perspectives to be convinced and I imagine the market does check this level

My view of current price action is this is an area the market slides into previous support and so could meet selling, blue line here is the 50 day.   My more medium term guess was more bullish at the 6000 area but not sure we go right there


                         ▄▄▄▄▄▄
             ▄▄█████▄▄███████████▄▄
     ▄▄    ▄████▀▀█████▀▀▀  ▄███████▄
  ▄█████  ████    ███▀     ███▀▀▀████▌
 ▐██▀    ████    ▐██▀  ▄  ▐███    ███▌
 ▐██▄   █████  ▄▄███  ███ ███▌   ▄███
  ▀█████████████████▄███ ▐█████████▀
    ▀▀▀▀████▀▀  ▀▀████▀  ██████████
       ▐███▌            ▐███    ▀███▄
       ████             ███▌     ████
    ▄▄█████       ▄██▄ ▐███     ▄███▀
 ▄███████████▄▄▄█████▀ █████▄▄▄████▀
█████▀▀▀▀██████████▀ ▐███████████▀
▀▀          ▀▀▀▀▀     ▀▀▀▀  ▀▀▀













██████████████████
████████████████████████
████████████████████████████
███████████████████████▀▀    ███
████████████████████▀▀   ▄▄██  ███
██████████████████▀▀   ▄▄██████  █████
██
████████████▀▀   ▄▄██████████  █████
███
████████▀▀   ▄▄██████████████  ██████
██
█████▀▀   ▄▄██████████████████  ██████
██
██▀   ▄▄██████████████████████  ██████
██
██
▄▄██████████████████████████  ██████
██
██
████████████████████████████  ██████
███
██
███████████████████████████  ██████
██
███
█████████████████████████  █████
████
██
█████████████████████████  █████
███
██
████████████████████████████
███
████
██████████████████████████
████
█████
███████████████████
██████
██████████████████
██████████████████












● Great Prizes
● Trophies
● The Original Plinko
● Great Community
● Chat Lotto
● Low House Edge
Report to moderator
fabiorem
Sr. Member
****
Offline Offline

Activity: 1008
Merit: 328



View Profile
December 20, 2018, 06:45:55 PM
 #18

Makes sense.

Recovery will be slow and painful.

butka
Full Member
***
Offline Offline

Activity: 434
Merit: 221


View Profile
December 20, 2018, 07:25:09 PM
 #19

I do not think you even looked at the chart. whenever the red cloud appeared it marked the lowest price. while it is true that as long as we are below the cloud the overall trend is still bearish but if you look closely then you will understand that the the lowest weekly candle appeared right after the cloud was showing.

if the picture is not clear enough then you can use the BLX chart on TV which has a 7 years worth of data and zoom in to every lowest weekly candle , draw the vertical line and it will perfectly line up with the beginning of the cloud.

No, the picture is clear enough and I get what you are saying. But just because the lowest price happened two times in the past at that particular configuration, it doesn't mean it will happen again.

Or let me put it this way: that's not how the Ichimoku system works. I can show you countless examples of other currencies where the appearance of the red cloud above the price meant a prolonged downtrend.

indeed i do not give much weight to Ichimoku cloud

Yes I agree, Ichimoku has its moments, but no indicator is perfect if used alone.
mikeywith
Hero Member
*****
Offline Offline

Activity: 658
Merit: 1853


be constructive or S.T.F.U


View Profile
December 20, 2018, 10:05:17 PM
 #20


No, the picture is clear enough and I get what you are saying. But just because the lowest price happened two times in the past at that particular configuration, it doesn't mean it will happen again.

Or let me put it this way: that's not how the Ichimoku system works. I can show you countless examples of other currencies where the appearance of the red cloud above the price meant a prolonged downtrend.



i gave you the link to where i used more important types of indication, i should have posted in the OP but again indeed relying on only this to be 100% is dumb, but i am a big believer in fractals when it comes to bitcoin, even in small time frames , you can find a dozen of fractals that strangely keep on repeating for no technical reason on the chart. this could be the act of bots or god knows what.

as far as how the ichimoku works, i know exactly how it does, as far as am concern the red cloud represents tremendous resistance ahead which is obvious, every previous support from ATH is now adding to the cloud, the ticker it is the harder to break. but being under the cloud does not mean an extended or never ending bear market.

there are a dozen of reasons on why this could be the bottom or at least something that is very close

1- Major support area that held as both support and resistance for about 100 days in 2017.
2- touching the 200 weekly MA which BTC never closed below
3- touching the 50 monthly MA which not a single monthly candle closed below it
4- 85% drop from ATH which almost exactly the same drop we had in 2014
5- it is a very strong support physiologically even or those who don't do TA 
6- it is probably the last wall the bulls have to defend before going 1100 as there is latterly no major support below this
7- the RSI on the monthly is sitting at 44 which is nearly the exact bottom of  2014 and the RSI is over sold on the weekly too

TA wise, this level is amazingly strong and should we have a monthly close below the 2700-3000 area then it will be a very easy and fast trip to 900-1100 without any doubts.


as  far as the trading plan goes for the couple next months

1- buy the 3k zone , sell the 5-6k
2- sell the close below 3k buy the close above 6k.

as for people shorting at 3k before we break it , i have nothing to say to them except "Good fucking luck" you gonna need it.









Pages: [1] 2 3  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!