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Topic: Analysis - page 317. (Read 941596 times)

legendary
Activity: 1008
Merit: 1000
November 20, 2013, 12:43:27 PM
I bet on this one. Triangles always follow the sharp moves.


BTC loves triangles.
legendary
Activity: 938
Merit: 1013
November 20, 2013, 12:42:07 PM
I get same picture everywhere. However Gox shows more clear EW picture. And bitstamp breaks its feed second time in a week.
legendary
Activity: 1470
Merit: 1007
November 20, 2013, 12:38:05 PM
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 Cheesy). I take that as a pretty bullish sign, if the "bear" exchange is going up again.
legendary
Activity: 938
Merit: 1013
November 20, 2013, 11:58:46 AM
I bet on this one. Triangles always follow the sharp moves.

legendary
Activity: 840
Merit: 1000
November 20, 2013, 11:57:11 AM
Looks a bit like a breakout to me?
Yes, at least over the channel and wedge upper lines. But what comes next? Hmmmmmm....
hero member
Activity: 707
Merit: 500
November 20, 2013, 11:51:15 AM
Looks a bit like a breakout to me?
legendary
Activity: 840
Merit: 1000
November 20, 2013, 10:15:52 AM
noob question but couldn't the wedge be redrawn like so:



making this not a breakout?
Yes, that is what I did also.
full member
Activity: 239
Merit: 100
November 20, 2013, 10:11:34 AM
noob question but couldn't the wedge be redrawn like so:



making this not a breakout?
legendary
Activity: 840
Merit: 1000
November 20, 2013, 09:30:05 AM
We have a spike out of the wedge... will it continue?
legendary
Activity: 840
Merit: 1000
November 20, 2013, 09:16:17 AM
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.
legendary
Activity: 1428
Merit: 1000
November 20, 2013, 09:00:49 AM
False break out? No volume!!
newbie
Activity: 18
Merit: 0
November 20, 2013, 08:26:40 AM
 Lucif's Crystal Ball near perfect prediction once again
full member
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
November 20, 2013, 08:00:42 AM
China futures are at Y3089 and falling.
legendary
Activity: 2170
Merit: 1094
November 20, 2013, 07:57:54 AM
Gox hasn't seen the volume I expected, maybe it's yet to come. But it seems Gox and China trigger each other.
sr. member
Activity: 532
Merit: 261
­バカ
November 20, 2013, 07:56:15 AM
But this time everything was triggered by BTCChina right? at least their volume is extraordinary in comparison with MtGox...
legendary
Activity: 1428
Merit: 1000
November 20, 2013, 07:54:45 AM
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 Wink

MtGox leads bitstamp and btce , those who have eyes glued on charts knows that..
legendary
Activity: 840
Merit: 1000
November 20, 2013, 07:45:31 AM
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 Wink
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!  Cheesy
sr. member
Activity: 532
Merit: 261
­バカ
November 20, 2013, 07:40:11 AM
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 Wink
legendary
Activity: 840
Merit: 1000
November 20, 2013, 06:58:23 AM
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 Tongue
Bitcoin has done falling wedges in the past regardless how how much sense it might or might not make.
legendary
Activity: 840
Merit: 1000
November 20, 2013, 06:49:47 AM
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.
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