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Bitcoin price discussion and analysis

Discussion in 'Forex and Cryptocurrencies' started by greggles, Nov 28, 2017.

  1. noirua

    noirua

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    Quite a lot of thought going on in this market. Over 1,500 different coins and Bitcoin is adjusting to all the many events as well as the new lines of asset backed coins and gold backed cards. Always a guess but maybe leave it to late in 2018 as Bitcoin simply got well ahead of itself.
     
  2. moXJO

    moXJO menace to society

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    It was a stellar run. Now it needs to drop to levels that all the hodlers feel comfortable buying in at. Scarcity and FOMO is what launches these crazes. And you don't need a massive volume for price spikes.
    There are too many $hitcoins out there as well.
     
  3. So_Cynical

    So_Cynical The Contrarian Averager

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    The top (red) down trend line is the only one really intact - perhaps a turn around in a month or so..
    ~
    BTCtrend.JPG
     
  4. So_Cynical

    So_Cynical The Contrarian Averager

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    greggles likes this.
  5. greggles

    greggles I'll be back!

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  6. noirua

    noirua

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  7. noirua

    noirua

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  8. noirua

    noirua

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    Winklevoss Twins Earn 5th Blockchain Patent
    https://uk.advfn.com/stock-market/C...oss-Twins-Earn-5th-Blockchain-Patent/77165681

    The most notable working operations the Winklevoss Twins are involved with are cryptocurrency exchange Gemini, founded in 2015, and investment fund Winklevoss Capital Management, formed in 2012. Their pursuit of patents may hint at a new route to establishing cryptocurrencies as ETFs.
     
  9. greggles

    greggles I'll be back!

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  10. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Lol...is this serious??
     
  11. greggles

    greggles I'll be back!

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  12. Joules MM1

    Joules MM1 ....everything has an art

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    the new petrodollar ?
     
  13. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    What a load of wank, more rumor and innuendo from the crypto spruikers.....that recent low is what we refer to as a "poor" low in auction market theory. Value was not rejected, it was accepted there, price will return to unfinished business....
     
  14. greggles

    greggles I'll be back!

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  15. InsvestoBoy

    InsvestoBoy

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    Hello CanOz,

    Can you explain this a bit better? How do you know value was "accepted"? Why does this mean price will return there?
     
  16. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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  17. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Poor or weak low

    It is easiest to illustrate what a weak or poor low by discussing what a strong or excess low is. When the market moves lower and finds that prices are just too low to be fair, the traders generally immediately drive price higher as buyers grab up as many contracts as possible at the perceived low prices. This generally leaves a buying tail on the chart and little in the way of volume on the profile. A weak or poor low is the opposite. This occurs when the market tests a low and can’t move away from it readily. A lot of volume trades a tick or so from the low print and buyers don’t seem to be interested in lifting prices higher. This is a weak or poor low and there is a generally tendency to revisit that low within that session or immediately after that session.
     
    fiftyeight, cynic, kid hustlr and 2 others like this.
  18. InsvestoBoy

    InsvestoBoy

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    Thanks, that sounds much clearer.

    Can we see the chart?
     
  19. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    3BB59102-AB41-4066-8B6C-6C22B5FDB890.png BTC / USD daily with excess low and recent poor low....
     
  20. So_Cynical

    So_Cynical The Contrarian Averager

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    Problem is that there is no genuine way to determine what a low price is, its crypto and basically worthless - and yet its not...whats fair here????
     
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