ChartArt

Money makes the world go round - Bitcoin price chart 2012-2014

BITSTAMP:BTCUSD   Bitcoin / Dollar
A long-term Bitcoin chart (weekly time-frame) shows most indicators signal a large downtrend. But the price might still bounce at $450. Otherwise the price might fall much lower. Current price is below $500.

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MACD ( Moving Average Convergence/Divergence) shows the begin of a downtrend

ROC ( Rate of Change ) shows currently a downtrend

Stochastic Oscillator shows currently a larger downtrend

Volume shows currently a larger downtrend

Weighted Moving Average (WMA) 9 period shows currently a larger downtrend

Weighted Moving Average (WMA) 90 period is still neutral, but close to a very large downtrend

Gann Fan shows the price is close to a very large downtrend if the price falls below $400

Fibonacci retracement areas signal a possible bounce at around at $485 (0.382 Fibonacci retracement) or $325 (0.236).

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Based on NicoNaylor's chart
No Razzle Dazzle-- Just good Demand Zones.
MarvinMartian
2 years ago
So, are you saying that large sell off volume bar is "lost confidence" :-)
If you need a chuckle, http://www.reddit.com/r/Bitcoin/comments/2ds12f/coinbase_delaying_purchases_until_friday_822/cjsnvfb

Just so everyone can see, there's always buyers at any price. Without using technicals!

"I guess I'll buy some at this price"
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MarvinMartian
2 years ago
Oh, and if anyone wants to talk crypto charts.. IRC Freenode we have a decent sized channel, pm me for the name.
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ChartArt
2 years ago
It was damn close, but it seems we made it and have a bottom:

snapshot
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ChartArt
2 years ago
UPDATE -- 13 days later -- August 30

Looking at the weekly Stochastic indicator It seems that we were 'cleaning up' the entire last uptrend from May, June, July in August. It seems there is room for one last leg down to test the $450 bottom again - before a new uptrend starts.

snapshot
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