How does it feel to be #homo-raped hard by a thick, veiny, green red dildo?
Now I know.
Only joking, this is ant stuff, noise, jitter. Want to see the real trend? Average out. 52-/208-week MA. Smooth as silk, cool as air. Such dips don't even register.
HoDL.
Hahahaha
On
this https://bitcoinwisdom.io/markets/bitstamp/btcusd website.. I keep my EMA/MA SETTINGS "indicator parameters" set with 26, 52, 104 and 208... so of course those would be showing the weekly averages (which also accounts for volume) for 6 months, 1 year, 2 years, and 4 years with different color lines (light blue, orange, pink-ish and dark blue respectively)...
Currently, on the weekly, those four lines show about:
26 - $44,595 (moving sideways-ish)
52 - $42k-ish (moving Up)
104 - $25,786 (moving Up)
208 - $17k-ish (moving Up)
Of course, in the shorter timeframes, the lower averages change directions a lot easier and also are breached a lot easier than the higher averages, and since all of those are lagging indicators (because they are averages of weekly prices and also include trade volume, too), we cannot really determine BTC price direction from them exactly.. but we can get some sense of cushion (BTC price bottoms on various timelines) regarding how far up we happen to be from the current location (and the historical locations) of those various moving averages.
In about
the last 8 minutes of PlanB's interview with Preston Pysch, he mentioned that his new floor model is an advanced way of attempting to measure floor - beyond the 200 week moving average, so in that sense PlanB is saying that his floor model gives more accurate short term measures specifically connected with BTC (whereas the 200-week moving average is vaguer and safer - because ongoingly bitcoin prices tend to be way above it on an ongoing basis). In that portion of the interview, PlanB is a bit elusive about the math bases for his current "floor model," and surely I don't claim to really understand it - even though it may be worth looking into a bit more in order to attempt to possibly get a bit more accurate ideas in regards to shorter-term BTC floor prices.. Personally, I prefer to have some kind of an understanding regarding what I am talking about or considering rather than just rely on someone (such as PlanB) to tell me where the floor is, and in what time frame
(even if, purportedly based on maths/sciences).. blah blah blah.
This was a short lived low volume dip. Nothing to see here.
We should attempt to be realistic, if we can.
Combinations of low volume and high volume can be mixed in there quite frequently.
Of course, high volume is going to tell us that potentially a more meaningful battle is taking place or at least there is some level of seriousness behind the BTC price dynamic "happenings." I am not going to rule out short-term low volume events because it only tells us what is happening at the moment, but it does not tell us whether the bearwhales are running out of ammo (or their willingness to employ it).
Many of us know that if we end up witnessing a high volume dip coupled with a high volume reversal, we can gain confidence that the bottom may well be in.. no guarantees that the bottom is in, but the evidence is decently stronger in those kinds of high volume reversals.
If we do not witness a high volume reversal, then we should continuously retain some skepticism regarding whether the most recent local bottom is "in" or not.. and frequently, if the volume stays relatively low (or at least not high), then we must rely upon getting some distance up the price ladder that would cause us to garner increasing levels of confidence based on cushion.. How much cushion is enough is likely another question.. ? Frequently 5% to 10% can be helpful, but many times we have to get in supra 15% levels or so above our local bottom before confidence might be assured that such "bottom is in".. I know that peeps are capable of calling the bottom earlier than my supra 15% level is suggesting - and yeah call me a conservative when it comes to presuming the bottom too early.. and even if I start to presume any such bottom.. I become nervous if the cushion gets reached and then we start to fall back within striking distance in that 5% to 10% cushion zone.. which again.. just does not seem enough.. absent some stronger indications, such as a high volume reversal or something like that..
Poll
