@windjc
better you have waited for my edit
better you have waited for my edit
Why? I know everything you explained already.
Topic: Alot of resistance in the $520-$530 range (Read 2554 times)
Why? I know everything you explained already.
@windjc
better you have waited for my edit
better you have waited for my edit
Why? I know everything you explained already.
@windjc
better you have waited for my edit
better you have waited for my edit
What is this "resistance"?
When it is buying, it is called "support", not "resistance". "resistance" is selling.
I am laughing,you are the first to note this.You are correct but it is amazing how less other People know the right termsWhen it is buying, it is called "support", not "resistance". "resistance" is selling.
The OP was just to fuck with TERA.
To note, the OP has gotten several levels of support and resistance since it was written. I can chart them with accurate terminology if you'd like.
What is this "resistance"?
When it is buying, it is called "support", not "resistance". "resistance" is selling.
not quite correct.When it is buying, it is called "support", not "resistance". "resistance" is selling.
If the Price is going down,the Price will have a Support at a certain Price-Level at which the Price can`t go down further. Unless it breaks the Support. Iin that case the Support changes to resistence when the Price ist going up again.
In other words:
support is the Price-Zone at which previous down-moves has been stopped.
Resistance is the Price-Zone at wich previous up movemnets has been stopped.
I am astonished so few People know the right Terms.
But to be honest I am not surprised anyway. I read so much garbage here OMG
520$-530$ is a horizontal resistance, which should not come into play again at this time of the post bubble burst.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
Here's a really simple view of why there is support at $540 right now. 1W ema is a historically strong support. That's until there is a downcross - then bitcoin is a whole different ball game.
TERA you never cease to dissapoint with bearish sentiment. You are constantly looking for a reason to retire from this market. That weekly is most likely going to be broken on your log chart. Will we not be seeing you anymore after that?
what period weekly EMA are you using? 10, 20?
Actually looks like you are using a 30.
We were below that for a good while in 2011 and even perhaps a little in the beginning of 2012, although I don't have the gox data only Stamps.
This seems like sort of an arbitrary EMA to be using. Also, this EMA seems skewed to me because of the two bubble in 2013 forcing the weekly trend high above the lower log trend line most people use to mark support on the long term log chart.
I have my doubts that breaking $530 for a while is going to spiral us into a prolonged untradable bear market.
This seems like faulty science to me.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
http://www.sierrachart.com/image.php?l=1395526666456.png
http://www.sierrachart.com/image.php?l=1395526666456.png
You need to use Mt.Gox data to start EW counts. This guy has fairly good long term EW counts on bitcoin.
https://www.tradingview.com/v/T8P3OlxT/
I have counted out the entire history down to sub-minuette waves on Gox, I was merely providing a visual aid for the point I was making. The [ I ] on the left side, was just to signify the $32 high from 2011 as the wave-1 of 5 that the image depicts.
How's this for a count?
I know it's a little old, but I stopped counting Gox when I moved to Stamp/BFX.
...and yes it has a very drastic range of possibilities
520$-530$ is a horizontal resistance, which should not come into play again at this time of the post bubble burst.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
Here's a really simple view of why there is support at $540 right now. 1W ema is a historically strong support. That's until there is a downcross - then bitcoin is a whole different ball game.
TERA you never cease to dissapoint with bearish sentiment. You are constantly looking for a reason to retire from this market. That weekly is most likely going to be broken on your log chart. Will we not be seeing you anymore after that?
520$-530$ is a horizontal resistance, which should not come into play again at this time of the post bubble burst.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
Here's a really simple view of why there is support at $540 right now. 1W ema is a historically strong support. That's until there is a downcross - then bitcoin is a whole different ball game.
TERA you never cease to dissapoint with bearish sentiment. You are constantly looking for a reason to retire from this market. That weekly is most likely going to be broken on your log chart. Will we not be seeing you anymore after that?
wow people seem to be extremely bearish lol
talking about sub 100 and shit
next target $10k!
talking about sub 100 and shit
next target $10k!
650$ would change my viewpoint. Still cannot see it.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
http://www.sierrachart.com/image.php?l=1395526666456.png
http://www.sierrachart.com/image.php?l=1395526666456.png
You need to use Mt.Gox data to start EW counts. This guy has fairly good long term EW counts on bitcoin.
https://www.tradingview.com/v/T8P3OlxT/
Breaking previous ATHs is a bearish sign. Bitcoin never did this before. If it happens, it will not stop to continue the downtrend.
Participants and those interested in the market will be turned off.
Bitcoin the protocol would still be there for a while, but it would be meaningless.
Participants and those interested in the market will be turned off.
Bitcoin the protocol would still be there for a while, but it would be meaningless.
Just because it hasn't, doesn't mean that it can't! It's a natural cycle of financial markets.
Sure, but the odds would be against it.
wow people seem to be extremely bearish lol
talking about sub 100 and shit
next target $10k!
talking about sub 100 and shit
next target $10k!
Breaking previous ATHs is a bearish sign. Bitcoin never did this before. If it happens, it will not stop to continue the downtrend.
Participants and those interested in the market will be turned off.
Bitcoin the protocol would still be there for a while, but it would be meaningless.
Participants and those interested in the market will be turned off.
Bitcoin the protocol would still be there for a while, but it would be meaningless.
Just because it hasn't, doesn't mean that it can't! It's a natural cycle of financial markets.
520$-530$ is a horizontal resistance, which should not come into play again at this time of the post bubble burst.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
[img]
It's just all the binary talk around here. Bitcoin isn't old enough to have had a real bear market yet. 2011 was as close as it gets and most posters here currently, weren't here for that one. If this is indeed the supercycle wave-2 then this will have the potential to be a bear market that no one has seen in Bitcoin, but it doesn't mean it MUST die. Also, the talks that something catastrophic is the only way to see lows below 5/4/300... It doesn't need to be one or the other (alive or dead) is all I'm saying, and I agree with you that some will lose hope (which signals the real bottom...), leave, never to return and a new group will come in to ride the next roller coaster.
Breaking previous ATHs is a bearish sign. Bitcoin never did this before. If it happens, it will not stop to continue the downtrend.
Participants and those interested in the market will be turned off.
Bitcoin the protocol would still be there for a while, but it would be meaningless.
Participants and those interested in the market will be turned off.
Bitcoin the protocol would still be there for a while, but it would be meaningless.
520$-530$ is a horizontal resistance, which should not come into play again at this time of the post bubble burst.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
Here's a really simple view of why there is support at $540 right now. 1W ema is a historically strong support. That's until there is a downcross - then bitcoin is a whole different ball game.
520$-530$ is a horizontal resistance, which should not come into play again at this time of the post bubble burst.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
One could assume a downfall to 100$-135$. For whatever reasons, the market was already there and those who want to buy cheap will wait for that price level.
If this plays out, bitcoin cannot recover
-broken previous ATH,
-broken the lower bollinger band in the weekly chart for the first time.
For the latter even 300$ would be sufficiant.
If we break below the previous ATH, it just confirms the end of a cycle like the pic shows (this is not necessarily my top count, but it shows my point). Why must it spell the end for Bitcoin?
What is this "resistance"?
When it is buying, it is called "support", not "resistance". "resistance" is selling.
When it is buying, it is called "support", not "resistance". "resistance" is selling.
You are right, sry I am at 135$ already
What is this "resistance"?
When it is buying, it is called "support", not "resistance". "resistance" is selling.
When it is buying, it is called "support", not "resistance". "resistance" is selling.
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