On the frontier, quantitative easing ( ) has ended which may or may not be a good thing for Bitcoin . We will see within the coming weeks and months how we react to that.
Sentiment wise it has actually been much more silent than usual. I use it as a gauge to determine the without looking at the charts. It had been more exciting than this earlier. However, things have been calming down since then. In any case, it has gotten a bit too quiet for my comfort. Yet, I just don’t care that much. Buy in, wait, & sell. Sounds like a plan to me.
• – Classic , telling me we have gotten just above the turbulent zone for now. I’d like to say it is showing a , but the price was much lower at the time of that low. So, it is inconclusive at the moment.
• ATR – It is looking semi promising to say the least. I have noticed how instead of going up when the price goes down that it now is going up when the price sort of goes up. What this means to mean is that we are in uncertain times. We have all the people who think there is going to be some news that will blast us off and others who think we will just follow the trend.
• PSAR – Has yet to change to a buy signal. Meaning there is a bit more left to this trend or else the price will just continue sideways and PSAR will switch. Either way there is nothing for sure saying we will go up.
Overall, I would say we continue to clip a little bit further down if we have any more push left on the sell side. There is a bit of wiggle room, and I would either like to see my other set of indicators start heading back up or bottom. So close to getter near zero. Lots of potential to the upside and not so much for the down.
Bull Target: $360
Extreme Bull: 376
Bloody Bear: 303
On a side note, I find it funny that no one has used stability tag.
Short term targets have been hit.
Now, what my other charts are saying is that, combined with other indicators, is that you should sell soon. Deflection is happening off the resistance zone. No targets ATM.
I just don't see how you can draw conclusions from these indicators...trend is down, and there is further down to explore, the whole move from the ATH is a huge correction, in the big scheme of things, mostly sideways movement (use semilog chart and look at the weekly over the daily).
There is little standing between 117usd and the current price.
If it doesn't bounce off 276 or 266, it'll hit lower lows.
Also, since this is a one day chart it is going to be shorter term. That is the assumption that I hope would be taken away from a 1D chart.
Furthermore, I have looked at longer term charts. Just have a look back on my old ones. I know what I am doing here. I am not really that much interested about Bitcoin in general since I am booked on that amount of time I have. I've done enough long term charts that I would be basically updating old charts again. No thanks.
To add to that, I haven't included many other indicators, notes, etc. that I use for my targets and my analysis. If I did it would be 1) cluttered as hell and 2) not something I am willing to share with all.
I agree on the part about global economy, it's definitely going to affect the BTC price, but we'll also see some competition from Bitshares, and maybe Apple pay.
I'll watch from the sidelines, for now.
Have a nice day! :D