Quote from: ranlo on May 20, 2014, 09:32:32 PM

Quote from: rudius on May 20, 2014, 09:30:00 PM

Quote from: ranlo on May 20, 2014, 08:12:34 PM

Quote from: Wandererfromthenorth on May 20, 2014, 08:07:33 PM

Quote from: ranlo on May 20, 2014, 08:01:20 PM

Quote from: bassclef on May 20, 2014, 07:55:28 PM

Quote from: Dalmar on May 20, 2014, 07:13:15 PM

TA is a self-fulfilling prophecy.

Kinda funny to see that yesterday very few wanted to buy around 440-450, but now people are fighting over almost $500 coins. Grin

TA is mass psychology. When grouped together, humans move in somewhat predictable patterns. TA applies mathematical formulas to this. It doesn't guarantee anything, but it is certainly helpful if you know how to use it.

While I agree that in most cases we can create methods of guessing what's going to happen based on the past, Bitcoin is still at the point where it goes through erratic changes. I think this is all just coincidence at this point.

how can you say that line cross was a coincidence? what are the odds?

Also if you would have used the superior line in the graphs i posted for all your trades during this bear market (going fiat and shorting) you would have done perfect safe trades!
Also if you would have used the inferior line you would have guessed the $340 bottom flawlessly!

While I agree that in the very short term (days and weeks) bitcoin can be a little unpredictable, if you use basic technical analysis right the Bitcoin market is a trader's wet dream!!!

The problem is that news plays a major role in Bitcoin's rate of adoption and value. Good news increases both. Bad news (usually) decreases both. No chart can guess as to what news is going to be released, where it's released from and how it's going to affect the prices.

News is just noise in a chart. Look at the big picture.

News have a fundamental value. Price could go down whereas news are great. It happens all the time in all markets. For example, S&P500 just made an ATH during the biggest crises of our time.

But you feel that a chart would tell the future price? If so, why don't stock brokers just use charts instead? Why is there speculation if the chart gives all the answers?

i didn t say that all is definitive. Speculation is a war between bull and bears. If you know how to read a chart, you know who is winning. Nobody know the price in 5 years not even the chart Wink

But the important info is "will the price go up or down from here?", When to make an entry and when to make an exit to minimize risks. Bitcoin price is well formed in a channel. Always expects the pricee to stay within except if it breaks. Meaning a new bubble is to be expected. If the channel is broken by the low, i will start to think differently. For example, litecoin price in $ broke his channel by the low. But since there is asics, i was expecting that (fundamental value). Now the chart tell us that LTC will go nowhere.