Topic: Analysis - page 208. (Read 941563 times)
Probably there will be next attack on long term resistance (260-270)
Please note! If Current daily candle will be shooting star - there is a high chance price will revisit $100
ewwwww, it looks like this is gonna happen
buckle up and be a player
Should see big moves lower over the next week... might seem random, it's not. It's just me unloading 
Buy high, sell low? Or did you get in under $220?
Actually we won't be in uncharted waters unless we fall under $69. The fall from $32 to about $2 was approximately a 94% drop in value. To do the same since the 2013 November peak, we'd have to drop under $69. If Bitcoin were to drop that low, I would imagine it would be bought back up with the same/or greater force and speed. IMHO, prices that low are a fantasy with all the venture capital and infrastructure being built. However, this IS bitcoin. Anything can happen. With that said, we are probably just as likely to hit $400 next week as we are to hit $69.
If we go below $69, there will be deathly silence in this forum.
Bulkowski on the 'shooting star':
Quote
Day traders that I know depend on the shooting star more often than I think they should, but my statistics are based on the daily charts, not intra day ones. I found that the shooting star candle acts as a bearish reversal 59% of the time. I consider that "near random" performance.
http://thepatternsite.com/ShootingStar.html
But that's his result for traditional markets. Possible that in BTC, shooting star is a better predictor.
This is not bearish reversal, though, as we didnt leave bear market in the first place. It could be merely continuation signal for existing trend.
Should see big moves lower over the next week... might seem random, it's not. It's just me unloading
Awaiting current thoughts from the Master...
Pretty much nothing to say until we go over 350 or under 160.
Awaiting current thoughts from the Master...
So when do we acknowledge that this bear market is worse than 2011?
We're in uncharted waters.
We're in uncharted waters.
I'd say this bearmarket is officialy worse then 2011 bearmarket when we go sub 130 with no signs of recovery or sub 100
So $1200 ---> to $100 or 91% drop is worse than $32 ---> 2 or a 94% drop?
Or $100 value is < $2 value?
Is this what you are saying?
The 2011 bear market only lasted like 6 months though, this has lasted 14-15 months, thats why.
So when do we acknowledge that this bear market is worse than 2011?
We're in uncharted waters.
We're in uncharted waters.
I'd say this bearmarket is officialy worse then 2011 bearmarket when we go sub 130 with no signs of recovery or sub 100
So $1200 ---> to $100 or 91% drop is worse than $32 ---> 2 or a 94% drop?
Or $100 value is < $2 value?
Is this what you are saying?
Bulkowski on the 'shooting star':
Quote
Day traders that I know depend on the shooting star more often than I think they should, but my statistics are based on the daily charts, not intra day ones. I found that the shooting star candle acts as a bearish reversal 59% of the time. I consider that "near random" performance.
http://thepatternsite.com/ShootingStar.html
But that's his result for traditional markets. Possible that in BTC, shooting star is a better predictor.
This is not bearish reversal, though, as we didnt leave bear market in the first place. It could be merely continuation signal for existing trend.
Could this be valid count? Too soon?
EDIT: Upper line is not random, its based on MasterLuc bearish trendline, that was unbroken since december 2013.
EDIT: Upper line is not random, its based on MasterLuc bearish trendline, that was unbroken since december 2013.
Actually we won't be in uncharted waters unless we fall under $69. The fall from $32 to about $2 was approximately a 94% drop in value. To do the same since the 2013 November peak, we'd have to drop under $69. If Bitcoin drops that low, I would imagine it would be bought back up with the same/or greater force and speed.
You're in that regard, I was thinking about the length of this bear market. In July 2011, bubble popped and then found its bottom in 6 months. Another 6 months later there was a decent recovery from the lows. Its been over a year and we still dont know if we have found the bottom.
It could also mean that the next bull market could be that much more spectacular with the spring coiling so tight for so long
Actually we won't be in uncharted waters unless we fall under $69. The fall from $32 to about $2 was approximately a 94% drop in value. To do the same since the 2013 November peak, we'd have to drop under $69. If Bitcoin drops that low, I would imagine it would be bought back up with the same/or greater force and speed.
You're in that regard, I was thinking about the length of this bear market. In July 2011, bubble popped and then found its bottom in 6 months. Another 6 months later there was a decent recovery from the lows. Its been over a year and we still dont know if we have found the bottom.
No kidding. These are hard times. Nobody knows what will happen next.
Actually we won't be in uncharted waters unless we fall under $69. The fall from $32 to about $2 was approximately a 94% drop in value. To do the same since the 2013 November peak, we'd have to drop under $69. If Bitcoin were to drop that low, I would imagine it would be bought back up with the same/or greater force and speed. IMHO, prices that low are a fantasy with all the venture capital and infrastructure being built. However, this IS bitcoin. Anything can happen. With that said, we are probably just as likely to hit $400 next week as we are to hit $69.
I'd say this bearmarket is officialy worse then 2011 bearmarket when we go sub 130 with no signs of recovery or sub 100
You should use log scale, this is linear scale.
Nah, well I think the biggest problem is with him using the candlesticks to draw the lines. Those are just outliers that don't tell us much in my opinion. Things will get interesting as soon we've crossed most people's resistance lines!
They're not outliers.
Looks like there is kinda h&s pattern since Jan 21 with a target around $170. Somebody illustrate pls
confirmed?
We would want to see a bounce from 230 to 250 and head lower again.
Looks like there is kinda h&s pattern since Jan 21 with a target around $170. Somebody illustrate pls
confirmed?
Looks like there is kinda h&s pattern since Jan 21 with a target around $170. Somebody illustrate pls
Like this?
or this?
(or are both wrong lol)
Either case would also mean overlap with Jan 15 234 top soon confirming the spike was C rather than III. Although I think 170 bottom is too high in that case, ~130 (or lower) seems more plausible from EW fib ratios.
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