Bitcoin price

[Steve]

For those following, this is a pivotal moment.



Where the two white lines converge is the deciding point (the tip of the triangle). From that point if the price breaks above the tip, the price might surge up. If it drops below, it will probably head south further.

The bulls are defending around US$6250 and bears trying to push below it. Amusing to watch big investors fighting each other to manipulate the price.

So far it looks like the price just peeked above the intersection point (positive breakout). Watch live at link:s://bitcointicker.co/ - this is from seconds ago:


If it continues an uptrend, thats good news. Where it goes from here depends on who has more money: the bulls or bears.

[ati]

I don't really believe in TA, so many "experts" failed to predict what was going to happen this year, but I really hope we see a bull market soon. I have lost too much money.
Unfortunately it looks like the price is going back where it was.

[Steve]

Most TA is bullshit. Some is not, because enough people are influenced by it, and that influences more TA and people in a circle.

Yes there are loads of "experts" who are incorrect. That doesnt mean there arent more experienced traders who see the bigger picture and know better.

In the case i highlighted, most reasonably experienced traders understand things go haywire at the end of the triangle. But which direction will it go? If the long term price outlook is good, it will probably go up. If the long term outlook is bad, it will probably go down. If it's 50/50, it will be a choppy mess.

If you know this, and the resistance and support levelswhich are based on TA, and can see how bulls and bears react to them, then you know when the bulls and bears let price move to the next levels. Knowing when each has given up is one way to get an edge.

Often the whales are the ones who move the price. The smaller investors are mostly pawns. Big price movements with sudden volume spikes are usually whales. You can see what the rest of the market thinks, the sentiment, with smaller volume trades. But if you watch the order book you can see when whales are using bots because the amount of smaller orders clearly spike.

There's so much market manipulation. The manipulation is based on TA and what whales expect the market will react to.

[Herby]

Anyone has good links where to get the data to use for testing purposes in own programs ?

bitcoin: timestamp  bid ask volume price
Tnx

[Blueprint]

Here's a ichimoku cloud for binary choices (even chances).  I made this in Excel, for fun - inspired by cht.

[Thanatos]

Just letting you know that Humble Bundle just released a "win at the stock market" ebook bundle of 15 Wiley ebooks for $15 about chart patterns, daytrading, banking, pennystocks, big data statistics etc. Seemed relevant for this forum topic.

Hope its ok i post this because i know we usually dont like "adds" but since Humble  Bundle is for charity, im not linking to it directly & those books are written by people with phd's in economics & math (and not some single scammer trying to get you into a pyramid scheme) i hope it ok.