Update: Still Bearish; Target Unchanged | $BTCUSD #Bitcoin
Friends,
A quick update on this Bitstamp exchange-based BTCUSD.
Essentially no change in directional bias, forecast or target: The initial conditions that supported our directional bias and forecast on February 10th remain unchanged, regardless of any manipulative hands, interruptive hacking or other fundamental events that may have occurred in the interim.
Just as in this Litecoin forecast (see LTCUSD chart replay here: www.tradingview.com/v/R5QGZThQ/), our proprietary strategy and forecasting methodology are independent of current price action, on-going fundamental news, or any other interim events. We also do not believe that the exchange data of one BTCUSD is any more accurate over that of others (i.e.: BTC-e vs. Bitstamp vs. MtGox), at least not to the extent that traders have attempted to demonstrate. Yes, variations will exist at the smaller timeframe levels (M1, M5, M15, H1), but we like to look at H4 and above, which are institutional-level point of views, where variations tend to decrease. So, send us your evidence to the contrary if you have to, but our analyses do not depend on the elements upon which you may base your differencing opinion against other exchanges. In other words, it really makes no difference in the way we predict, forecast and define our targets.
Cheers,
David Alcindor
TradingView MOD
A quick update on this Bitstamp exchange-based BTCUSD.
Essentially no change in directional bias, forecast or target: The initial conditions that supported our directional bias and forecast on February 10th remain unchanged, regardless of any manipulative hands, interruptive hacking or other fundamental events that may have occurred in the interim.
Just as in this Litecoin forecast (see LTCUSD chart replay here: www.tradingview.com/v/R5QGZThQ/), our proprietary strategy and forecasting methodology are independent of current price action, on-going fundamental news, or any other interim events. We also do not believe that the exchange data of one BTCUSD is any more accurate over that of others (i.e.: BTC-e vs. Bitstamp vs. MtGox), at least not to the extent that traders have attempted to demonstrate. Yes, variations will exist at the smaller timeframe levels (M1, M5, M15, H1), but we like to look at H4 and above, which are institutional-level point of views, where variations tend to decrease. So, send us your evidence to the contrary if you have to, but our analyses do not depend on the elements upon which you may base your differencing opinion against other exchanges. In other words, it really makes no difference in the way we predict, forecast and define our targets.
Cheers,
David Alcindor
TradingView MOD