Good day Bitcoin lovers/haters,
Today I'm posting a long-term prediction for BTC/USD price (Bitstamp) and unfortunately the price indicator still follows the down trend, which is most likely to hit the main support line of 4932$.
Now let me explain and argument my point of view:
1. As John Murphy stated in his book "Technical analysis of financial markets" on the second page we see 3 premises on which the technical approach is based:
- "Market action discounts everything"
- "Prices move in trends"
- "History repeats itself"
If I open a BTC/USD price chart from february 2012 until mid 2013 I can notice a perfect clone of price movement that we can see these days. Visually all candles are equal.
I can even finish the analysis here, but let me give you further info...
2. If you open a math function analysis program and enter price data by days/hours/years you will see a "Rational model"/"Steinhart model"/"Reciprocal logarithm" (+2 extra), which represents most suitable bitcoin's price function form that has predicted a BTC/USD price plunge.
3. Also judging by the history. Open BTC/USD price with a time interval of 1 day and scroll left until you notice that a main exponential growth of BTC/USD price chart consisting of smaller exponential functions. That principle can also be seen in "Sierpinski triangle" (an object is a composition of smaller objects that has just the same size ratio). So I mean that main exponential line of BTC/USD now is becoming a part of something greater than it is. In other words the graph finishes itself in order to create a new exponential line of BTC/USD. That feature has been going on from the Bitcoin's "birth", but I have no idea why analytics and media haven't been announcing that evident fact.
That is everything that I wanted to say for this moment, this analysis will be updated and commented every day (I hope).
I just want a few people to know some basic for me things that are laid on the surface.
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*Red line = place where price will decrease/support line (= step 1).
*Red dashed line = further price decrease after "step 1" (= step 2).
*Green line = place where price will increase (= step 1).
*Green dashed line = further price increase after "step 1" (= step 2).
*Grey dashed line = undefined type of line (red? / green?).
-------------------------------------------------------------------------------------
Today I'm posting a long-term prediction for BTC/USD price (Bitstamp) and unfortunately the price indicator still follows the down trend, which is most likely to hit the main support line of 4932$.
Now let me explain and argument my point of view:
1. As John Murphy stated in his book "Technical analysis of financial markets" on the second page we see 3 premises on which the technical approach is based:
- "Market action discounts everything"
- "Prices move in trends"
- "History repeats itself"
If I open a BTC/USD price chart from february 2012 until mid 2013 I can notice a perfect clone of price movement that we can see these days. Visually all candles are equal.
I can even finish the analysis here, but let me give you further info...
2. If you open a math function analysis program and enter price data by days/hours/years you will see a "Rational model"/"Steinhart model"/"Reciprocal logarithm" (+2 extra), which represents most suitable bitcoin's price function form that has predicted a BTC/USD price plunge.
3. Also judging by the history. Open BTC/USD price with a time interval of 1 day and scroll left until you notice that a main exponential growth of BTC/USD price chart consisting of smaller exponential functions. That principle can also be seen in "Sierpinski triangle" (an object is a composition of smaller objects that has just the same size ratio). So I mean that main exponential line of BTC/USD now is becoming a part of something greater than it is. In other words the graph finishes itself in order to create a new exponential line of BTC/USD. That feature has been going on from the Bitcoin's "birth", but I have no idea why analytics and media haven't been announcing that evident fact.
That is everything that I wanted to say for this moment, this analysis will be updated and commented every day (I hope).
I just want a few people to know some basic for me things that are laid on the surface.
-------------------------------------------------------------------------------------
*Red line = place where price will decrease/support line (= step 1).
*Red dashed line = further price decrease after "step 1" (= step 2).
*Green line = place where price will increase (= step 1).
*Green dashed line = further price increase after "step 1" (= step 2).
*Grey dashed line = undefined type of line (red? / green?).
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評論:
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*Red line = place to hit when decreasing (= step 1).
*Red dashed line = further place to hit when decreasing after so called "step 1" (= step 2).
*Green line = place to hit when increasing (= step 1).
*Green dashed line = further place to hit when increasing after so called "step 1" (= step 2).
*Grey dashed line = undefined type of line (red? / green?).
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