Post
Topic
Board Speculation
Re: Analysis never ends
by
Miz4r
on 28/01/2015, 14:47:16 UTC
http://thepatternsite.com/ShootingStar.html

But that's his result for traditional markets. Possible that in BTC, shooting star is a better predictor.

Or worse. Since FOMO is so strong in this market you get crazy spikes sometimes followed by big drops back to 'normal' levels, making these shooting stars a somewhat regular thing in this market. Or perhaps it does work as a self-fulfilling prophecy and positive feedback loop, as people become conditioned to sell when they see these candles appear on the charts. And since everyone who is trading BTC has access to internet and free technical analysis everywhere warning about these shooting star patterns, it could be quite a big market force all combined.