Bitcoin: The Downward Trend Continues

[spazzdla]

I would disagree.. this is the first time over the last 5 dips the price went back to it's start..  IMO we have found the floor.  Before it was like 1200 drop to 700, rise and steady at 900.  Then 900 to 600 steady at 700, now it droped 450, down to 350 steading out at 430.. 

[teukon]

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullshit on BTC long term but get out of here with this crap.

I peed myself laughing.

I can't remember why I added you to my ignore list but I've decided to unblock you for my entertainment.

[spazzdla]

Or maybe we dip below $400 again today..  Come on hit my buy of $300

[jonald_fyookball]

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullshit on BTC long term but get out of here with this crap.

I peed myself laughing.

I can't remember why I added you to my ignore list but I've decided to unblock you for my entertainment.

Whatever.

I know several professional traders, and none of them use charts like that for the exact reasons I posted.  I also trade myself, I'm profitable, and I know a good deal about charting, technical analysis, and price action.

Now, if you know something about the matter, then go ahead and enlighten us.  Otherwise STFU and stop acting like a jackass. 

[envy2010]

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullish on BTC long term but get out of here with this crap.

If you are going to speculate on crypto I suggest you study some elementary algebra. A straight line with slope m on a base-N log plot is a exponential curve defined by N^m on a linear plot.

Bitcoin adoption (and price) history fits an exponential curve much better than a linear one, so it makes sense to plot it that way.

[igorr]

Zero soon,


image upload

[Zule]

Zero soon,

You have to draw the lines by hand, and make the illustration of price plummeting in the next 7d, and it has to be done in ms paint with thick red wiggly pencil line.
Please read similar threads and see how the pro trolls are doing it, you fucking amateur.

[matt4054]

@igorr: You have such a fair, balanced and non-biased view of Bitcoin that we should all listen to you and panic sell right now!

[uhoh]

Really need to start banning some of these top-drawer morons like igorr

[UnDerDoG81]

I wonder what these peoples like fonzie,igor and the others purpose is...

[igorr]

Really need to start banning some of these top-drawer morons like igorr

 

[matt4054]

Really need to start banning some of these top-drawer morons like igorr

 

Given your signature, you must be quite nostalgic of the Good Ol' Soviet Union days.

Of course, even during the Perestroika I don't think Bitcoin would have been allowed

PS: I save you the In Soviet Russia... joke, I don't think you would get it anyway (I would even grant you that most of them actually suck)

[igorr]

Just check Ukraine. 

[teukon]

I peed myself laughing.

I can't remember why I added you to my ignore list but I've decided to unblock you for my entertainment.

Whatever.

I know several professional traders, and none of them use charts like that for the exact reasons I posted.  I also trade myself, I'm profitable, and I know a good deal about charting, technical analysis, and price action.

Now, if you know something about the matter, then go ahead and enlighten us.  Otherwise STFU and stop acting like a jackass. 

Ah yes, I remember now.

Blocked.

[matt4054]

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullshit on BTC long term but get out of here with this crap.

I peed myself laughing.

I can't remember why I added you to my ignore list but I've decided to unblock you for my entertainment.

Whatever.

I know several professional traders, and none of them use charts like that for the exact reasons I posted.  I also trade myself, I'm profitable, and I know a good deal about charting, technical analysis, and price action.

Now, if you know something about the matter, then go ahead and enlighten us.  Otherwise STFU and stop acting like a jackass. 

None of them?

Logarithmic price scales are generally accepted as the default setting for most charting services, and they're used by the majority of technical traders. Common percent changes are represented by an equal spacing between the numbers in the scale. For example, the distance between $10 and $20 is equal to the distance between $20 and $40 because both scenarios represent a 100% increase in price. Contrast this to "linear price scale".

Source: http://www.investopedia.com/terms/l/logarithmicscale.asp

[jdun]

What you're forgetting is that downward trends do not last forever. The market always swings from downward to upward to downward, etc. The fact that is has been downward for a while means the market is strongly due for an upward trend. The longer it stays downward, the more overdue it is for upward trends.

[serenitys]

I think the chart sites I use are broken...they've been in the 420s all weekend. I'm assuming the stoners have control of the ball and are baking before this coming week's strenuous activities in the bitcoin market? 

[jonald_fyookball]

What kind of bullshit chart is this where the vertical axis numbers aren't uniform ?  It goes from 100 to 140 to 200 to 280 with same vertical space....this only distorts things, it does not give a clear picture of price action.
And then you're gonna use it to draw a trend line?  I'm very bullshit on BTC long term but get out of here with this crap.

I peed myself laughing.

I can't remember why I added you to my ignore list but I've decided to unblock you for my entertainment.

Whatever.

I know several professional traders, and none of them use charts like that for the exact reasons I posted.  I also trade myself, I'm profitable, and I know a good deal about charting, technical analysis, and price action.

Now, if you know something about the matter, then go ahead and enlighten us.  Otherwise STFU and stop acting like a jackass. 

None of them?

Logarithmic price scales are generally accepted as the default setting for most charting services, and they're used by the majority of technical traders. Common percent changes are represented by an equal spacing between the numbers in the scale. For example, the distance between $10 and $20 is equal to the distance between $20 and $40 because both scenarios represent a 100% increase in price. Contrast this to "linear price scale".

Source: http://www.investopedia.com/terms/l/logarithmicscale.asp

Some use tic based charts or even Renko etc...first I've heard of log, always learning something new.  Perhaps cause we mostly trade currencies or commodities, changes happen in smaller increments and smaller tf

[Zule]

Some use tic based charts or even Renko etc...first I've heard of log, always learning something new.  Perhaps cause we mostly trade currencies or commodities, changes happen in smaller increments and smaller tf

Perhaps you're just full of shit and now you embarrassed yourself.

[btcxyzzz]

While it’s not clear whether any hacks have been directly attributed to Heartbleed, the news caused at least one major exchange to clamp down on Bitcoin withdraws until it’s fixed.

I can confirm my Bitfinex account was hacked because of that bug. Probably not just mine.