Quote from: Youghoor on December 28, 2019, 05:46:34 PM

It's good to use analysis by people to predict the next market value of bitcoin but there is always one thing people need to understand. This is that, the entire bitcoin market and ecosystem is 80% unpredictable and do not really follow the analysis made by experts. You just have to be open minded in order to understand some aspects of the bitcoin market...

I agree with you ... not as long as technical analysts are able to predict what the market is considering the bitcoin market is always fluctuating and changing always there are other aspects that can hitchhike and change everything ... but I'm just here to give an idea about BITCOIN using the TA that I learned ......
Thanks for your advice

Quote from: yohananaomi on December 28, 2019, 07:50:41 PM

interesting thing from the analysis made, but there is no blame for making analysis and prediction at least there is a mixture that can be held and can be a reference. but it must be remembered also that bitcoin is very difficult to predict and many have done it but nothing can be right and make sure how bitcoin will move.
~snip~

Thanks for your constructive advice .... for honest reference i don't have other than i learned from google in determining support and resist and also learned a lot about indicators in TA, i also learned from twitter some people like johnMcAfee, Tom lee and my others I just learned and am still new to TA but I will try my best .....

Quote from: kryptqnick on December 28, 2019, 08:01:50 PM

Of course, it's nice to learn something new and try to apply it. But technical analysis is not something well-respected. It's just a strategy of making predictions, not a strategy of telling the future. And I believe one can do all sorts of things to come up with numbers and stuff, but at best it can lead to a probabilistic conclusion ~snip~

I agree with you TA analysts are only to help us better understand the market movement of BITCOIN and certainly not to know the future in the market with certainty...
This is only a precautionary measure what will happen but it all comes back to each of us trusting or not

Quote from: bittraffic on December 28, 2019, 08:13:19 PM

Why only consider the SUPPORT 1 = $ 64xx, there are support line before it?
The Fibo certainly works differently to the forex platform fibo so I'm not sure how the trading fibo tool to be accurate at pointing out which supports are stronger. But to me $73xx and $69xx are considered to be support already as we break it. That means the battle again will continue when prices dips that level.

Quote from: bittraffic on December 28, 2019, 08:13:19 PM

In case price dips at that certain level, that's also a bigger opportunities for investors who still planned to venture with bitcoin. Tools like fibo always have the capability to do the basic trading as well, first of all as you take control of that decisions made; our personal principles will be the first priority. When we seek for other options, just take the opportunity of your alternative resources which you can use at any random state.

Thanks you for @AliMan for helping me explain, I just want to add a little to @bittraffic, of course the possibilities are always there but in my opinion each time frame also determines the support and resistance points of a TA could be and did not rule out the possible support points on TF 1H is different from TF in 4H, D1, D4 ... etc BUT nothing is certain in this case thinking TA only helps us to take action

Quote from: hugeblack on December 29, 2019, 10:32:49 AM

Good analysis, I agree with most of it, but I disagree with you on two points. The quotation is below:

Quote from: Shakreen on December 28, 2019, 05:37:16 PM

~snip~

Resistance levels at $ 6,400 require something to happen that pushes the price down for that level, something that has not been proven yet, so it is not likely "in the current circumstances" to see a decline of that level.
If the decline is confirmed below 6,400, we will not stop at $ 5,000, as there is no historical resistance at $ 4,000, so the levels of $ 3,000 are more likely.

So SUPPORT 1 & SUPPORT 2 are just temporary support levels.

I agree with your opinion that in TA we always have to consider everything temporarily without exception because in the bitcoin market price movements are always fast and fluctuating and cannot be predicted precisely so let's hope for the best for bitcoin prices

Quote from: piebeyb on December 29, 2019, 11:57:20 AM

Quote from: Shakreen on December 28, 2019, 05:37:16 PM

~snip~

as a trader I have not tried how to use the Fibonacci indicator, usually I only use the RSI and MACD indicators no more, but as a trader I understand because not all have the same way of thinking and always have a different point of view in analyzing, I see buying support in $ 5500 isn't sure it's at $ 44xx, but it's nice to see your Fibonacci

I hope that with this tread, it can open up your wider view of TA and its indicators ...
There is still so much we have to learn and let's get dizzy together wkwkwkkw Grin

Shakreen

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