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RE: Curious why Bitcoin is suddenly going up?
Maintaining daily support doesn't account for a sudden influx of volume (that came in right after the announcement b y the way).
On the whole, the chart is merely a reflection of news. Some of it moves the markets, some of it doesn't. Charts don't predict will will happen, they simply predict would could happen given the right catalyst.
Charts are mass-psychology not news.
News are centralized fake information..^^
And the mass psychology you are referring to is mostly people's reaction to all available (and unavailable) news. All news is reflected in the charts.
Look at Elliot-Waves-Theory. -> Mass psychology
News are a joke. Are you living a joke?
I am not debating whether news is accurate or not, I am saying that the news is in the charts, the news is the charts. The charts are merely a reflection of the views of the masses based on their interpretations of the news. Especially in something like bitcoin where there are no dividends or cash flows. It is all based on sentiment and speculation, which is dictated and influenced by the news.
=/=
=/=
This last one is an especially interesting paradox.
No tech/ fundamental/ geopolitical/... influence on the charts?
Yea
Lol I didn't say there was none, but fundamental and geopolitical can also come in the form of news that fits nicely in the speculation and sentiment categories... For example, it is reported that Argentina is experience a currency crisis, people buy bitcoin because they expect Argentinians to buy bitcoin. The price starts going up, the media reports about how bitcoin is going up, so more people jump in. The news itself didn't cause prices to go up, people did, but those people are influenced by the news. I think in a round about way we are sorta kinda saying the same thing. The charts are a reflection of all the actions by people, but people are influenced by news, so in a round about way, all news is reflected in the charts.
The price goes up or down if a whale buys.. or more whales do..
They are not influenced by news
But I get ur point. Would be more clear if u were saying the new is like many other things reflected in the chart.. but then you could also say everyhing is reflected in the charts