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A potential top @ $12.16
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Last Trade 12.44
Topic: A potential top @ $12.16: the bearish case - page 3. (Read 7735 times)
well the Fibonacci ratios converge to the golden ratio so what's the point?
tbh I never understood the obsession with it, it's numerology imo.
Well we'll find out pretty soon if we move beyond it.
I guess it's something like
32*(1-5/8)=12 to 32*(1-8/13)=12.3076923
or something....
numerologists
I prefer Canadianology. You double it and add thirty, eh. tbh I never understood the obsession with it, it's numerology imo.
Well we'll find out pretty soon if we move beyond it.
I guess it's something like
32*(1-5/8)=12 to 32*(1-8/13)=12.3076923
or something....
numerologists
Last price: $12.35999
High: $12.40493
Low: $11.92500
Volume: 45391 BTC
Weighted Avg: $12.18958
Mt. Gox
Well it certainly went above $12.16 already ...
Though I guess the reality of it was that you said it was going to be $12.16 ... unless it went over $12.16 ... then just say that the new high doesn't invalidate the theory ...
High: $12.40493
Low: $11.92500
Volume: 45391 BTC
Weighted Avg: $12.18958
Mt. Gox
Well it certainly went above $12.16 already ...
Though I guess the reality of it was that you said it was going to be $12.16 ... unless it went over $12.16 ... then just say that the new high doesn't invalidate the theory ...
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
13.16?
14.16?
Just curious.
In theory, there is no actual price that invalidates the B-wave possibility. In practice, a B-wave typically retraces to 38.2%-50% Fibonacci retracement level of the preceding A-wave in a zigzag (5-3-5) corrective as opposed to around 100% in a flat (3-3-5) corrective. Now, because the move off $2 was composed of 5 waves higher within a basic channel, the flat option was invalidated leaving the zigzag. In short, if the price heads above $13.46-$17 (38.2% - 50% Fibonacci retracement off a $32-$2 A-wave), the price is likely heading above $32 in a 3rd wave. Until then, the B-wave is just as likely as a 3rd.
Also keep in mind that, if this is a B/X-wave moving higher, it doesn't necessarily need to head below $2 in a vicious C-wave after it completes before heading much higher. In a very large triangle or combinational corrective, the price could head sideways between $32 and $2 for years before finally taking off.
well the Fibonacci ratios converge to the golden ratio so what's the point?
tbh I never understood the obsession with it, it's numerology imo.
Well we'll find out pretty soon if we move beyond it.
I guess it's something like
32*(1-5/8)=12 to 32*(1-8/13)=12.3076923
or something....
numerologists
tbh I never understood the obsession with it, it's numerology imo.
Well we'll find out pretty soon if we move beyond it.
I guess it's something like
32*(1-5/8)=12 to 32*(1-8/13)=12.3076923
or something....
numerologists
OP said something about fib resistance levels.
So that would be $32*(1-1/phi) = 12.2229124
So that would be $32*(1-1/phi) = 12.2229124
notice the key word...
12ish is the "fib resistance"
are we seeing any resistance right now?
OP said something about fib resistance levels.
So that would be $32*(1-1/phi) = 12.2229124
So that would be $32*(1-1/phi) = 12.2229124
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
13.16?
14.16?
Just curious.
I'd say the "Top at 12.16" theory is roasted at around 12.17.
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
13.16?
14.16?
Just curious.
very graphic, but to be honest this doesn't make me wanna buy more bitcoins.
Good, I don't want you to buy bitcoins... the more you buy, the more expensive they become for me
Cool my bids will be there once you panic sell them.
Since it has to be graphic:
very graphic, but to be honest this doesn't make me wanna buy more bitcoins.
Good, I don't want you to buy bitcoins... the more you buy, the more expensive they become for me
very graphic, but to be honest this doesn't make me wanna by more bitcoins.
Actually, judging from your postings you are a real bear. And I am sure that is why you have never bought any bitcoins. They can always only go down, according to you. 
very graphic, but to be honest this doesn't make me wanna by more bitcoins.
Actually, judging from your postings you are a real bear. And I am sure that is why you have never bought any bitcoins. They can always only go down, according to you.
very graphic, but to be honest this doesn't make me wanna buy more bitcoins.
What else can they do? They gone all in and sometimes even more than that. They bought too high and have no chance to sell back. So they are spamming like a boss in the hope someone else looses his sanity and buys in.
FTFY
Seriously the forum has been so much full of Bullish posts that this lone bear thread is almost refreshing.
What else can they do? They gone all in and sometimes even more than that. They bought too high and have no chance to sell back. So they are spamming like a boss in the hope someone else looses his sanity and buys in.
FTFY
Seriously the forum has been so much full of Bullish posts that this lone bear thread is almost refreshing.
Don't know,but early this morning I saw Mtgox top out at $12:38.I think it will break $13 within the next week 1/2.
Wow, bears trying to spam off and hide the massive multiple buys up to $12.17ish just now? Waiting for that wall to disappear, any hour now...
Now what else can they do? They have sold it all, and have no chance to buy back. So they are spamming like a boss, in the hope that someone will lose his sanity and sells.
Wow, bears trying to spam off and hide the massive multiple buys up to $12.17ish just now? Waiting for that wall to disappear, any hour now...
- Powerful entity (e.g. a government, the UN, etc) declares explicit war against Bitcoin ...Weak hands would assume the worst and sell, true believers would hold on. Price could fall drastically to some very low (but nonzero) amount.
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