ItisCalvin
Long

Pitchfork Me to Another High

BITSTAMP:BTCUSD   Bitcoin / Dollar
652 20 8
The heartbeat analogy is weird and out there. So is the title, but who cares. Today’s TA includes two different pitchforks . The one downward trend pitchfork is based upon the bubble while the other is just based upon a pivot point that happens to be the lowest low.

For the moment we are ranging into an ever tightening price range. There has to be some point in time where we break out. I have been waiting for this for weeks and still have not seen significant movement up. At the moment a few of the indicators have lined up perfectly. There is a bullish convergence, which is big. In this market seeing any positive bull signs is great. Combine that with the others, we may in fact begin something fun!

Indicators
Ultimate Oscillator – This is the one giving the bullish convergence signal. From the chart you can see how price remained flat. Likewise, the price was flat during that time. This is indicative of some strong bull moves.
Stoch RSI – OVERSOLD right now and may just start busting up. We are in the lower resistance prong and I would expect at some point to return to the median line on the pitchfork .
Aroon Oscillator – It looks to be getting ready to switch to buy soonish. Maybe in the next few days we will be seeing 650s!

Targets
Bull Target: $660
Bear: 622
Extreme Bull: 707
Extreme Bear: 605
Timing: July 22 – July 24

Lala, you know what it is. Slightly more stuff at the blog about CampBX. I'm doing some research and stuff for inflation vs consumer spending with the dollar. http://www.allbitcointa.cu.cc/2014/07/what-caused-campbx-price-to-spike.html
Anybody have a nice link to some place to learn about pitchforks?
Reply
ItisCalvin Macainian
I'll find a decent one for you. Hang tight I'm on mobile.
Reply
ItisCalvin Macainian
Here is a great site with awesome examples.
http://www.tradingsetupsreview.com/andrews-pitchfork-trading-strategy/
Reply
ChartArt ItisCalvin
What I will never understand: Price trends move like waves that ripple in oscillatory motions. Straight lines are straight.

Why does it make sense to use straight lines to analyze oscillatory wave motions?
Reply
ChartArt ChartArt
"Turbulence may be defined as the most general case of unsteady fluid motion"

Look at figure 1
http://www.thermopedia.com/content/1224/
Reply
ItisCalvin ChartArt
I think most of the time it's easier to use straight lines to simplify things.

Price is crashing hard right now.
Reply
ChartArt ItisCalvin
The price crash already ended. I bought back.
Reply
ItisCalvin ChartArt
I guess it did end and I was catching tail end if it. I had a live ticker going on a website. Maybe this be the end for now. I'm not seeing any news that would suggest we go any lower. All technical.
Reply
ChartArt ItisCalvin
I made a new chart with the hope that this the end of the correction:

A possible path of a bullish Bitcoin breakout
Reply
ChartArt ItisCalvin
Because of people who still think the price is crashing - that is explaining the next upcoming much smaller correction, until everyone sees that the bottom for the current move has already been found.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out