Re: Analysis

Quote from: JayJuanGee on October 29, 2018, 06:28:12 AM

Quote from: Tzupy on October 28, 2018, 01:21:54 PM

In the 6h and 12h time frames, the Bollinger bands are very tight, also PSAR flip may happen very soon.
So a move can be expected very soon, with a bearish bias IMO (12h PSAR may flip to bearish), although the local EW structure looks a bit bullish.
It is very annoying that coinsight is down... In such times of decision, the bid / ask ratio could help predict the outcome... Roll Eyes

Call me ignoramus, but I am having some difficulties understanding any proposition that "something has to happen" in terms of BTC price moving either UP or DOWN. Why can't bitcoin price stay sideways for another 6 months or longer?

Why does up or down price movement "have to be imminent" based on current tightening of BTC's price range?

Seems to me that a more accurate statement would be something like:

"Based on analysis of historical price trends, odds are 70% that either an UP or DOWN movement will happen in the next 3 weeks, and if such UP or DOWN movement does not happen in the next 3 weeks then odds are 75% that either an UP or DOWN movement will happen in the next 6 weeks, and if such UP or DOWN movement does not happen in the next 6 weeks then odds are 80% that either an UP or DOWN movement will happen in the next 12 weeks, etc etc etc... "

Just seems a bit presumptuous to be asserting that BTC UP or DOWN has to happen "soon"^TM.

Well, the start of the expected move just happened, lets see where it will find support. However, the 12h PSAR flip to bearish put the starting point high, so 12h PSAR won't flip back to bullish soon.
This move had to happen soon, because there were both bullish and bearish possibilities, and a such low volatility and tight BB can't last too long.

PS. This also (just now) flipped the daily PSAR to bearish. Time to buy when daily will leave oversold, it's just entering now.