timwest

Bitcoin/ Dollar - BTCUSD - Daily - TIME AT MODE CONCEPT

BITSTAMP:BTCUSD   Bitcoin / Dollar
1208 15 17
Shows that the recent low was nicely structured with the 'time at mode' methodology.

Two consolidations projected a low on and one day after the low in Bitcoin .

There is massive overhead supply just above the current market and I will publish charts when it gets to a sell level or a sell setup. Marc Andreessen put his foot forward on Bitcoin in recent days to validate its long term value, so there is a short-covering rally going on here, from what I can see.

Tim 11:24AM EST 10/8/2014
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Target hit! :D
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TimWest, i'm afraid you are missing one VERY important point here. Volume has been VERY high since we have touched 276usd, i would have agreed with you if volume was about the same as the previous downwards movements. I would love to see you re-think this strategy keeping the volume in mind.
+2 Reply
Volume was lower than previous volume spikes...this is still heading down I'd say. Maybe time for a correction before a double bottom on climatic volume. I agree with Tim's view.
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NightWish IvanLabrie
I'll keep this in mind to keep realism in sight, though i'm strongly convinced we have reached reversal, I would even go as far as to say this is equal to the 50USD on 2013
+1 Reply
snapshot
Tim, feel free to comment. Interested on hearing what you have to say on the topic of volume.
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timwest PRO NightWish
Volume isn't all it is chalked up to be. Price is the most important. Volume can be manipulated. I like to see range expansions with higher volume, but I can analyze comfortably without volume.
+2 Reply
NightWish timwest
We've just touched 1st resistance @ 355usd you're talking about the 2nd line which is 364usd imo there is a third higher line which is 377usd. I'm seeying buying-bots accumulating over all exchanges, keeping the growth upwards, as soon as they turn off you will be right. Keeping this in mind we'll have to see how this plays out.

http://i.imgur.com/4r6HCrp.png
+2 Reply
NightWish NightWish
I know this might be Tinfoil-hat-talk, but there are buying bots highly active across all exchanges, they seem to buy, create support, then let go and catch the panic straight on supportlevels again, i haven't seen this kind of activity ever before, you can clearly see the bots being turned on again on the far right:

http://i.imgur.com/GnIegXH.png
+1 Reply
timwest PRO NightWish
I see there is a nice uptrend in place on the 2-hour chart you have posted -
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NightWish timwest
I know we shouldn't be using our tinfoil-hats here, but these high-frequency-bots are something i've never seen before and i've been closely following the charts since early 2013. Something to take into consideration at least. (i've tried to open up a private-conversation but I have to wait several hours because this account is new, so sorry for cluttering this thread)

Your thoughts?
+1 Reply
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