I bet on this one. Triangles always follow the sharp moves.
BTC loves triangles.
Topic: Analysis - page 317. (Read 941563 times)
BTC loves triangles.
I get same picture everywhere. However Gox shows more clear EW picture. And bitstamp breaks its feed second time in a week.
Since your analysis is usually based on mtgox data (correct me if I'm wrong), I'd like to add one thing: the markets are reactive to each other, and right now, everyone else is almost certainly looking at where China is going. But there is also the notable fact that Bitstamp resisted the craze of the past days much more than gox and btcchina, for example the gox ATH log line applied to bitstamp's reduced price proved to be a point of resistance.
My point is, stamp was reluctant to join the run-up, corrected back earlier, and now, interestingly, is back up on its feet earlier than the others (green daily candle today, while gox and china still had some correcting to do I guess
). I take that as a pretty bullish sign, if the "bear" exchange is going up again.
My point is, stamp was reluctant to join the run-up, corrected back earlier, and now, interestingly, is back up on its feet earlier than the others (green daily candle today, while gox and china still had some correcting to do I guess
). I take that as a pretty bullish sign, if the "bear" exchange is going up again.
I bet on this one. Triangles always follow the sharp moves.
Looks a bit like a breakout to me?
Yes, at least over the channel and wedge upper lines. But what comes next? Hmmmmmm.... 
Looks a bit like a breakout to me?
noob question but couldn't the wedge be redrawn like so:
making this not a breakout?
Yes, that is what I did also. making this not a breakout?
noob question but couldn't the wedge be redrawn like so:
making this not a breakout?
making this not a breakout?
We have a spike out of the wedge... will it continue?
False break out? No volume!!
No real breakout, there was kind of a mini wedge within this larger wedge that shot up into the 500s, but we are still within the larger wedge. 
False break out? No volume!!
Lucif's Crystal Ball near perfect prediction once again
China futures are at Y3089 and falling.
Gox hasn't seen the volume I expected, maybe it's yet to come. But it seems Gox and China trigger each other.
But this time everything was triggered by BTCChina right? at least their volume is extraordinary in comparison with MtGox...
The problem I see about using the falling wedge pattern here is that MtGox is not the only Bitcoin exchange.. you are taking something from a 1D / mono-platform stock market to use it in something similar to a forex market. Basically what I want to say is: other exchanges don't share the same shape, so I believe this specific pattern is not being "correctly" used in this case.
and you may see any pattern anywhere if you try hard enough
and you may see any pattern anywhere if you try hard enough
MtGox leads bitstamp and btce , those who have eyes glued on charts knows that..
The problem I see about using the falling wedge pattern here is that MtGox is not the only Bitcoin exchange.. you are taking something from a 1D / mono-platform stock market to use it in something similar to a forex market. Basically what I want to say is: other exchanges don't share the same shape, so I believe this specific pattern is not being "correctly" used in this case.
and you may see any pattern anywhere if you try hard enough
All very valid points. Bitcoin is funny though and seems to do its own thing with a combo of all kinds of markets. There have been plenty of times though in which patterns on one exchange (namely gox) appear but don't appear as perfectly on the other exchanges. Yet the gox pattern triggers the rest eventually. I suppose we can see how this plays out! and you may see any pattern anywhere if you try hard enough
The problem I see about using the falling wedge pattern here is that MtGox is not the only Bitcoin exchange.. you are taking something from a 1D / mono-platform stock market to use it in something similar to a forex market. Basically what I want to say is: other exchanges don't share the same shape, so I believe this specific pattern is not being "correctly" used in this case.
and you may see any pattern anywhere if you try hard enough
and you may see any pattern anywhere if you try hard enough
lol are you serious? falling wedge pattern doesn't make sense in forex/bitcoin
edit: oh and btw we already broke the bottom line at $453 in gox
Bitcoin has done falling wedges in the past regardless how how much sense it might or might not make. edit: oh and btw we already broke the bottom line at $453 in gox
LOL, I woke up, saw the falling wedge/pennant on my trading view, posted on the wall observer, and then come here to see MasterLuc posted this hours ago, haha.
Jump to: