So it's not a cup&handle anymore?
It's a cup with a triangular handle
Topic: Analysis - page 170. (Read 941582 times)
Its a triangle. Triangle usually leads to trend continuation
sideways to the death,may be we can come back a few more years and the price is still under $300
Now it starts to look like a bullish pennant.
how it is so!
Now it starts to look like a bullish pennant.
20 days and/or more than 50% of cup only may harm bullish c&h figure.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
How did you arrive at the 210 figure Luc? I thought closing and staying below the weekly 20sma (around 250 now) would start the long term bear, at least from what I remember of waveaddict's analysis
That was the consolidation lows (Higher low) after the initial spike to $315 off the bottom. So while we are making higher lows and higher highs, he remains bullish.
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In a perfect market price is the summation of all variables and fundamentals. Price failure is for the most part a reflection of conditions on the market reflecting either redundancy or technological failure.....and sometimes in bubbles that singular critical moment when the penny drops. But just because a trend line is penetrated does it mean that the future is set in stone either, aberrations in market pricing can and do happen regularly.
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I like this.
i disagree with people who say the price of bitcoin is irrelevant. Or as a separate from 'Bitcoin development' We who trade bitcoin markets are a crucial piece of Bitcoin. At times they call us 'speculators'
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I think traders (speculators) are most of the price of bitcoin or rather the price of bitcoin above say $50+/-$30?. the price of bitcoin has not yet (and may never) established some store of value. gold has ie it is $1000 +/- $300 over say 5 years
speculators chased the price of bitcoin to over $1000 on a willy bot not any fundementals.
same with now - several traders are moving the price around in the $200-$300 so any fundamental effect downward eg from lack of new demand or upward from pending etf etc cannot be seen even if it was occurring.
In a perfect market price is the summation of all variables and fundamentals. Price failure is for the most part a reflection of conditions on the market reflecting either redundancy or technological failure.....and sometimes in bubbles that singular critical moment when the penny drops. But just because a trend line is penetrated does it mean that the future is set in stone either, aberrations in market pricing can and do happen regularly.
[/quote]
I like this.
i disagree with people who say the price of bitcoin is irrelevant. Or as a separate from 'Bitcoin development' We who trade bitcoin markets are a crucial piece of Bitcoin. At times they call us 'speculators'
[/quote]
I think traders (speculators) are most of the price of bitcoin or rather the price of bitcoin above say $50+/-$30?. the price of bitcoin has not yet (and may never) established some store of value. gold has ie it is $1000 +/- $300 over say 5 years
speculators chased the price of bitcoin to over $1000 on a willy bot not any fundementals.
same with now - several traders are moving the price around in the $200-$300 so any fundamental effect downward eg from lack of new demand or upward from pending etf etc cannot be seen even if it was occurring.
20 days and/or more than 50% of cup only may harm bullish c&h figure.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
How did you arrive at the 210 figure Luc? I thought closing and staying below the weekly 20sma (around 250 now) would start the long term bear, at least from what I remember of waveaddict's analysis
Dsma 200 is now pointing upward, been a while though
Really nice observation.
Since this is my 1000th post I have to do a price prediction;
I'll just put we'll comfortably break $290 again this week. And we'll see $400 within 2015.
Dsma 200 is now pointing upward, been a while though
20 days and/or more than 50% of cup only may harm bullish c&h figure.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
Thanks for the clarification.
What should be noted as well: closing above dsma200+50, for a month by now, first time in a long while. Let's see if we stay there.
No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
luc,what event will change your bias/if happen ? Going back below 200 day Ema,below log downtrend or something else ?
Thanks
mid-long term means what it means.
even if we dip sub 200 this would not affect overall trendline. or else bitcoin "fails".
how does bitcoin price have anything to do with bitcoin failure? Failure only will be because of a better alternative or because of a technological flaw.
In a perfect market price is the summation of all variables and fundamentals. Price failure is for the most part a reflection of conditions on the market reflecting either redundancy or technological failure.....and sometimes in bubbles that singular critical moment when the penny drops. But just because a trend line is penetrated does it mean that the future is set in stone either, aberrations in market pricing can and do happen regularly.
I like this.
i disagree with people who say the price of bitcoin is irrelevant. Or as a separate from 'Bitcoin development' We who trade bitcoin markets are a crucial piece of Bitcoin. At times they call us 'speculators'
20 days and/or more than 50% of cup only may harm bullish c&h figure.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
Long term downtrend has been broken - that is my main point. Even if c&h will fail, I think we may see only prolonged sideways action what I call silence phase.
Only move below 210 may seriously harm bullish outlook. Weekly picture is pretty bullish so far. Or at least it is not bearish.
No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
luc,what event will change your bias/if happen ? Going back below 200 day Ema,below log downtrend or something else ?
Thanks
He answered that a while ago, iirc: < 50% of the current swing (so, below ~265 USD), or correction extending too long in time ("more than 20 days") ... to that latter condition, we're actually getting pretty close to.
Correct me if I'm wrong, but I believe those conditions were being applied to the cup and handle scenario. I don't think not meeting those conditions would necessarily effect his mid-long term bullish bias.
No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
luc,what event will change your bias/if happen ? Going back below 200 day Ema,below log downtrend or something else ?
Thanks
He answered that a while ago, iirc: < 50% of the current swing (so, below ~265 USD), or correction extending too long in time ("more than 20 days") ... to that latter condition, we're actually getting pretty close to.
No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
luc,what event will change your bias/if happen ? Going back below 200 day Ema,below log downtrend or something else ?
Thanks
mid-long term means what it means.
even if we dip sub 200 this would not affect overall trendline. or else bitcoin "fails".
how does bitcoin price have anything to do with bitcoin failure? Failure only will be because of a better alternative or because of a technological flaw.
In a perfect market price is the summation of all variables and fundamentals. Price failure is for the most part a reflection of conditions on the market reflecting either redundancy or technological failure.....and sometimes in bubbles that singular critical moment when the penny drops. But just because a trend line is penetrated does it mean that the future is set in stone either, aberrations in market pricing can and do happen regularly.
No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
luc,what event will change your bias/if happen ? Going back below 200 day Ema,below log downtrend or something else ?
Thanks
mid-long term means what it means.
even if we dip sub 200 this would not affect overall trendline. or else bitcoin "fails".
how does bitcoin price have anything to do with bitcoin failure? Failure only will be because of a better alternative or because of a technological flaw.
No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
luc,what event will change your bias/if happen ? Going back below 200 day Ema,below log downtrend or something else ?
Thanks
mid-long term means what it means.
even if we dip sub 200 this would not affect overall trendline. or else bitcoin "fails".
No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
luc,what event will change your bias/if happen ? Going back below 200 day Ema,below log downtrend or something else ?
Thanks
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