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RE: Bitcoin Technical Analysis: Could be about to break up, or break down soon?
Hey @xaero1, excellent information! Really enjoyed reading this one. I see a lot of random speculation on prices so it's refreshing to study the technicals for me. I'm still a novice so I'm still trying to get the hang of using the MACD but I feel like every time I see someone using it, it clicks more. Haven't learned how to use the Bollinger bands yet. Anywhoo, it'll be fun to see what happens to the BTC price. I was actually thinking it might retrace below 2000 but it hasn't so far. When it breaks upwards $4-$5k range is totally possible but it might not even happen until fall/winter. But what do I know (nothing lol). Cheers, looking forward to reading more in the future.
Thanks a lot for your feedback and kind words!
My favourite site for charts is easily https://cryptowat.ch, which is simply amazing. In the settings, you can switch on loads of various indictors (most of which i know nothing about!) I just stick to a few, primary: EMA (exponential moving average), MACD, volume, and b-bands. For coins that aren't on there poloniex is good for charts although they are mostly plottted against BTC. I also use the coinmarketcap charts too.
I've got this vague feeling that bitcoin won't go up further until its shaken out all the possible sellers / 'weak hands'! ;) (disclaimer: I already sold most too!). This usually requires a 50% retrace at least, but possibly 63% is more likely. If so, we'd be looking at $1500 area for bargain prices ;). On the other hand, ethereum recently had a second 'leg up' from $200 area to $400 area', without a big retrace in between. So, anything is possible.
Best regards!