Topic: Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 105. (Read 540250 times)

:-) I am not sure if my mission is to spark fun only... It should definitely help making a bit better trading and investment decisions.

I have just completed my in-depth weekly bitcoin market and technical analysis which is exclusive to subscribers, and I keep committed to this exclusivity.

As always, I will publish some updates here and there on twitter, but with less depth and with a delay.

Thanks for your understanding.

Any more thoughts, S3052? It certainly hasn't been fun the last day or so.

I see that return to 13.40-13.50 as an attempt to return to the channel. Apparently it failed to do so, and the trend line will be getting farther as the day progresses, reaching 13.25 at the end of the day.

I am happy to have a rally but to me it still looks like we're on a downtrend right back into that channel.

No, we have broken out above. Further upmove is required to make this a lasting breakout.

Looks to me like we're still in the downsloping trend channel.

here is the link to view the charts: http://bit.ly/q3UQ9W

Longterm: UP.

Midterm: UP as long as the 9.5 $ - 10 $ range holds

Shortterm: UP from the 12.5 $ low and down sloping channel resistance.


 

Overall, the forecast about a bullish consolidation and subsequent breakout to the upside has materialized. While the very short term pattern turned out somewhat different to the option presented in last analysis here (bullflag extended further to the downside), the overall direction was correct. Bitcoins are back in a bullmarket on all timeframes.



 Technical analysis

It is always important to look at the longterm picture before falling into the trap of drawing too short term (and often wrong) conclusions. In German language, we call this "you don't see the forest when you stand  in the middle of the trees".

Both, the long and mid term trend are clearly up. The chart below shows that the move down from the all time high of 31.9 $ is corrective, not impulsive. Based on chart analysis tools,  Elliott Wave patterns (not shown) and volume patterns, this view is the preferred scenario.

For example, both, the chart pattern and the volume development indicate that the entire move down from 31.9 $ is a consolidation with the most likely resolution to the upside and new highs in weeks/months.





Shortterm, and as predicted especially in the subscription service (http://bit.ly/mjP1Rh) , a big rally came last night with strong volume. Most of the 12 day downward consolidation was retraced within just 3 hours, a strong bullish move.

BTCUSD are now consolidating this move and likely will move up into the 17 $ - 20 $ area.

The BitBulls are in control now, as long as the 12.5 $ low 7 down sloping lower channel line holds. But even if this channel support falls, there is much more support in the 9.5 $ - 12. 5 $ cluster, as short and midterm support levels run in this zone.

 

Trade Bitcoins well!

Your S3052

 

Disclaimer: Please always do your own due diligence, and consult your financial advisor. S3052 owns some bitcoins.  Never invest unless you can afford to lose your entire investment.

Agree that it is not helpful to get this thread spoiled.

And this is why I return to technical analysis.

As analyzed for the subscribers often over the past days, BTCUSD has respected the trendchannel and may have finished this consolidation at today's low.

Back to rally mode  unless the 9.5 - 10 $ fails. More detailed buy and sell triggers in the subscription reports.

More like "Bitcoin bears get trampled, gored" So yeah, why would they do that?

Your opinion of Bitcoin is "why would they do that?!" ? 

We need a nice popular and user-friendly futures exchange, so that we can direct both the "SELL SELL SELL" and "BUY BUY BUY" types there and tell them to put up or shut up.

I hate those posts too. I couldn't resist making a little fun of them.

My own personal opinion of Bitcoin's long-term value is

Sorry didn't get it.  Just so sick of seeing the SELL SELL BUY BUY crap.  Didn't look past it.

My bad man.

Did you READ my post? I suggest you try it.

I'm waiting to see if $11 holds as support and brings buyers in. Otherwise, we could $10 in no time. If there is buying with good volume before current support comes into play I might consider taking a small position.

yeah its great when even the moderator is one of those people. 

this video is very positive for bitcoin!

ps: i hate all these BUYBUYBUY/SELLSELLSELL shouters! everyone should make his own opinion

http://money.cnn.com/video/technology/2011/07/18/t_bitcoin_currency.cnnmoney/

OMG SELL SELL SELL...food!

So, about those bullish indicators...

MINUS! 9000!11!!! People will be paying to you to take their bitcoins as the streets run red with Blood!

I wonder where it'll stop.