Topic: 94% correction? [46% so far] - page 3. (Read 8970 times)
The trendline I have drawn seems to be violated now. I was wrong about the 5.45 bottom.
Patiently awaiting yesterday morning prices to get some coins 
Ok, so now I'm convinced that somebody just in principle wants the price to go down.
Wat do, proudhon? Wat do? 
And he is doing it right now !
Ok, so now I'm convinced that somebody just in principle wants the price to go down.
So someone makes a bearish thread and then suddenly everyone sells and Bitcoin dies? If so, I think it deserves to die.
+1
We all have to bear the burden of socializing Bitcoin in order for it to succeed. This is not such an easy task for the introverted, and it could well serve to change some individuals for the better in rather unexpected ways.
Interestingly enough, if you compare the magnitudes of each rally and assume that they will drop as much as the first rally as a magnitude of the percentage, you get a "perfect" estimate of a 33% drop from our high of $7.22, bringing us down to $4.81.
...God damn 33% percent retracement rule.
...God damn 33% percent retracement rule.
u mad bro? I think you need to adjust your risk management regarding Bitcoin, clearly you have too much at stake. 
So someone makes a bearish thread and then suddenly everyone sells and Bitcoin dies? If so, I think it deserves to die.
So someone makes a bearish thread and then suddenly everyone sells and Bitcoin dies? If so, I think it deserves to die.
[Early June 2011]
See it?
You shouldn’t take it seriously. I don’t think it would go that far. It’s just a provoking thought experiment.
Sometime I feel like ignoring everyone in speculations threads,
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to $5.00 without any major news
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to $5.00 without any major news
See it?
why would you assume any of that?
Why the hell not? There’s been a rally from November to January, so if we consider it over, it’s interesting to extrapolate how much downside we had last time a 3 months rally ended.You shouldn’t take it seriously. I don’t think it would go that far. It’s just a provoking thought experiment.
with the possible outcome of killing bitcoin. congratulations!
think about it out-of-the-box: bitcoin trades for >5.3$ since one month, and you come here and tell us seriously you are doing a "provoking thought experiment" when you spread FUD about bitcoin droping 94% to 0.5$?!
its like doing a fire insurance on your neighbours house and then starting to play with fire at his place, tell him that you really think his house burns already, and if he says "no, it doesnt" you say "well! that is just a provoking thouhgt experiment, what IF your house burns to the ground like the house of my other neighbor did (where i also had a fire insurance and played alot with those neat lighters)?
[Early June 2011]
See it?
You shouldn’t take it seriously. I don’t think it would go that far. It’s just a provoking thought experiment.
Sometime I feel like ignoring everyone in speculations threads,
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to $5.00 without any major news
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to $5.00 without any major news
See it?
why would you assume any of that?
Why the hell not? There’s been a rally from November to January, so if we consider it over, it’s interesting to extrapolate how much downside we had last time a 3 months rally ended.You shouldn’t take it seriously. I don’t think it would go that far. It’s just a provoking thought experiment.
If we assume the top is 7.22 and there is again a months long 94% "consolidation", the low would turn out to be 0.45 USD.
why would you assume any of that?
Sometime I feel like ignoring everyone in speculations threads,
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to 50c without any major news
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to 50c without any major news
they were thinking, they could bring down the price with their thoughts! hahaha
scary thing is, they had these thoughts and then the price went down just a little bit more.
Sometime I feel like ignoring everyone in speculations threads,
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to 50c without any major news
How can you spew up so much non-sense, Bitcoin market is based much more on fundamentals than any other penny stock.
I don't know what the F you're you're talking about, How can btc get to 50c without any major news
Now, for the fellow chartists: http://www.sierrachart.com/userimages/upload_2/1328458777598.png
We have 3 trendlines, let’s call them short, mid and long term.
Short term is broken, mid term is about to be tested now.
Update http://www.sierrachart.com/userimages/upload_2/1328494454347.pngWe have 3 trendlines, let’s call them short, mid and long term.
Short term is broken, mid term is about to be tested now.
Price has bounced off the mid term trendline for the second time now. We may have done a double bottom, but there has also been a kind of double top at 5.8.
Interesting stuff going on for sure.
It's the Batman trend!
Now, for the fellow chartists: http://www.sierrachart.com/userimages/upload_2/1328458777598.png
We have 3 trendlines, let’s call them short, mid and long term.
Short term is broken, mid term is about to be tested now.
Update http://www.sierrachart.com/userimages/upload_2/1328494454347.pngWe have 3 trendlines, let’s call them short, mid and long term.
Short term is broken, mid term is about to be tested now.
Price has bounced off the mid term trendline for the second time now. We may have done a double bottom, but there has also been a kind of double top at 5.8.
Interesting stuff going on for sure.
While it's undoubtedly usefull the way in which analysis of charts has often been used here is somewhat arbitary at best and dangerous at worst, Eliot waves, guessing at trend lines where hundreds of lines could apply in some way, triangles, (to some extent wedges) etc... The entrails comment is a valid one.
i can agree that none of the above methods have much more validity than entrails.
I also concur.
Thanks for the lesson. It's a common theme you will find. Everybody thinks they need to teach us this sub-forum is no more than a playground, and the market is more like a battle ground.
But, keep preaching the lesson, it would suck for the newbies need miss the lesson and hand over all their money based on some clowning around.
While it's undoubtedly usefull the way in which analysis of charts has often been used here is somewhat arbitary at best and dangerous at worst, Eliot waves, guessing at trend lines where hundreds of lines could apply in some way, triangles, (to some extent wedges) etc... The entrails comment is a valid one.
i can agree that none of the above methods have much more validity than entrails.
While it's undoubtedly usefull the way in which analysis of charts has often been used here is somewhat arbitary at best and dangerous at worst, Eliot waves, guessing at trend lines where hundreds of lines could apply in some way, triangles, (to some extent wedges) etc... The entrails comment is a valid one.
Back in September, the price stopped its decline and even went through a few rallies. We saw all the bulls pontificating on fundamentals.
Now, the price has stopped its rise and has gone down a bit. All the bears are talking about fundamentals.
edit: I still think the price will go to $4 soon.
Now, the price has stopped its rise and has gone down a bit. All the bears are talking about fundamentals.
edit: I still think the price will go to $4 soon.
Chart analysis = pattern analysis = reading goat entrails = consulting the Oracle at Delphi
'chart analysis' is just looking at price and volume data presented in graphical form. do you ever glance at the price at bitcoincharts or mtgoxlive? do you use the information you thusly glean to inform your trades? congratulations! you are an analyst. now stop bitching.
+1
pattern analysis != reading goat entrails
How you could think otherwise baffles me.
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