We are in a "x-mas tree" pattern
aaah, come on, now you're just making stuff up.
I think it's the shape of italy's west coast.
Note that time might reverse when we hit Genova. BTC still on track even then
(S3052, don't take this the wrong way, plz)
Topic: Bitcoin Forecast, Bitcoin Speculation & Bitcoin Technical Analysis. Up or DOWN? - page 122. (Read 540250 times)
May 13, 2011, 07:38:23 PM
aaah, come on, now you're just making stuff up.
I think it's the shape of italy's west coast.
Note that time might reverse when we hit Genova. BTC still on track even then
(S3052, don't take this the wrong way, plz)
May 13, 2011, 05:05:06 PM
Yes, bitcool, I know.
We are in the 32-35$ area over the past days. The jury is still out whether we will break 30$ or not, but even if I loose the 50 BTC to you, I am happy since I am short Silver since 43-49 $ ;-)
We are in the 32-35$ area over the past days. The jury is still out whether we will break 30$ or not, but even if I loose the 50 BTC to you, I am happy since I am short Silver since 43-49 $ ;-)
May 13, 2011, 05:00:20 PM
I did a bit more analysis on the exponential rise and took a well known market for reference.
..
We are in a "x-mas tree" pattern, which very frequently happens after exponential rises.
I would not be surprised if we see a mirror image on Bitcoins in the next 2-3 weeks,
from whatever high will be marked
(perhaps it is the current one at 8.45 $ or we see another pop up higher.)
@s3052, just checked kitco (http://www.kitco.com/charts/popup/ag0030lnb.html) , currently silver is at $35.3, it's not $30...yet. ..
We are in a "x-mas tree" pattern, which very frequently happens after exponential rises.
I would not be surprised if we see a mirror image on Bitcoins in the next 2-3 weeks,
from whatever high will be marked
(perhaps it is the current one at 8.45 $ or we see another pop up higher.)
(but my truck is backed up and ready to load)
May 13, 2011, 04:34:08 PM
I'm no expert in these matters, but IMO it's very simple. The only time Bitcoin dropped in value was when Mtgox was DDoSed. All the other fluctuations correlate with articles in press and other exposure to the masses or lack thereof. I think the value will be increasing for a long time to come as long as there is a steady influx of new users
Bingo! You've hit the nail right on the head. Bitcoin has no choice but to go up as long as demand for them increases (ie new people coming in) It's as simple as that and no technical analysis can tell you this. With bitcoins we have to go to the fundamentals. It's not a mature market so there is no range of trading yet.
May 13, 2011, 04:18:21 PM
@S3052
Assuming this is the case, how do you judge when the "tree" is going to peak?
Assuming this is the case, how do you judge when the "tree" is going to peak?
Looking at the depth of market, it seems to be stalling under 8$... it may be now
big Ask resistance at 8$, low Bid resistance :/
Pfft. You can't wait 24 hours for each 10% rise?
May 13, 2011, 03:59:34 PM
@S3052 : I would agree with your analysis IF there the market wasn't so thin. One large sell order can crash the entire market, and one large buy order can push it over the next dollar amount. It would take a LOT more capital to do that to silver.
However I do feel that it will stagnate for a while or drop in value until Bitcoin receives more media attention. If it ever appears in mainstream media (Fox, CNN, TIME), the price would easily double. At the current rate/hype we are way overbought.
However I do feel that it will stagnate for a while or drop in value until Bitcoin receives more media attention. If it ever appears in mainstream media (Fox, CNN, TIME), the price would easily double. At the current rate/hype we are way overbought.
May 13, 2011, 03:51:17 PM
I'm no expert in these matters, but IMO it's very simple. The only time Bitcoin dropped in value was when Mtgox was DDoSed. All the other fluctuations correlate with articles in press and other exposure to the masses or lack thereof. I think the value will be increasing for a long time to come as long as there is a steady influx of new users
this are my thoughts exactly. May 13, 2011, 03:49:19 PM
The price dropped before the ddos. It was unchanged during the ddos.
May 13, 2011, 03:26:24 PM
I'm no expert in these matters, but IMO it's very simple. The only time Bitcoin dropped in value was when Mtgox was DDoSed. All the other fluctuations correlate with articles in press and other exposure to the masses or lack thereof. I think the value will be increasing for a long time to come as long as there is a steady influx of new users
May 13, 2011, 03:24:10 PM
I did a bit more analysis on the exponential rise and took a well known market for reference.
We are in a "x-mas tree" pattern, which very frequently happens after exponential rises.
I would not be surprised if we see a mirror image on Bitcoins in the next 2-3 weeks,
from whatever high will be marked
(perhaps it is the current one at 8.45 $ or we see another pop up higher.)
We are in a "x-mas tree" pattern, which very frequently happens after exponential rises.
I would not be surprised if we see a mirror image on Bitcoins in the next 2-3 weeks,
from whatever high will be marked
(perhaps it is the current one at 8.45 $ or we see another pop up higher.)
Well this may or may not be the case, but BTC and silver are very different things. Silver's been around as a common currency since at least the middle ages, and probably quite a bit longer, so the bitcoin uptake may continue more or less unabated if new people keep buying in.
May 13, 2011, 03:15:38 PM
Here's my take: I think it's consistent with all common wisdom that Bitcoin will have a reversal soon, I think it would be beneficial to Bitcoin in the long term to have a reversal now, and I know it would be beneficial to me personally.
That being said, I'm not willing to go right out and predict one. Every time I've bet on Bitcoin reversing, it's screwed me. The psychology of Bitcoin investors is something totally unique and unpredictable except on very short timescales. Looking at what has happened up to now, there is no evidence to justify betting on anything except growth.
That being said, I'm not willing to go right out and predict one. Every time I've bet on Bitcoin reversing, it's screwed me. The psychology of Bitcoin investors is something totally unique and unpredictable except on very short timescales. Looking at what has happened up to now, there is no evidence to justify betting on anything except growth.
May 13, 2011, 02:36:58 PM
@S3052
Assuming this is the case, how do you judge when the "tree" is going to peak?
Assuming this is the case, how do you judge when the "tree" is going to peak?
Looking at the depth of market, it seems to be stalling under 8$... it may be now
big Ask resistance at 8$, low Bid resistance :/
May 13, 2011, 02:34:14 PM
I predict it's going to fall all the way to $10 by Monday then eventually $100.
As epii says, you can't pick the peak till after it has happened, because exponential curves have the same shape at all parts.
As epii says, you can't pick the peak till after it has happened, because exponential curves have the same shape at all parts.
May 13, 2011, 02:30:41 PM
The tree breaks once the exponentially rising lines is broken to the downside.
This runs currently between 7.4-7.6$.
This runs currently between 7.4-7.6$.
May 13, 2011, 02:26:27 PM
@S3052
Assuming this is the case, how do you judge when the "tree" is going to peak?
Assuming this is the case, how do you judge when the "tree" is going to peak?
May 13, 2011, 02:16:47 PM
I did a bit more analysis on the exponential rise and took a well known market for reference.
We are in a "x-mas tree" pattern, which very frequently happens after exponential rises.
I would not be surprised if we see a mirror image on Bitcoins in the next 2-3 weeks,
from whatever high will be marked
(perhaps it is the current one at 8.45 $ or we see another pop up higher.)
We are in a "x-mas tree" pattern, which very frequently happens after exponential rises.
I would not be surprised if we see a mirror image on Bitcoins in the next 2-3 weeks,
from whatever high will be marked
(perhaps it is the current one at 8.45 $ or we see another pop up higher.)
May 13, 2011, 01:01:14 PM
This is not a market for unexperienced traders (any more).
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Yeah, I sold some BTC a few weeks ago, not a majority of my account or anything, but a few k. Now kicking myself. I think I'm going to follow bruce wagner's advice and just hold on for the ride.
I hold bitcoin till the bitter end or world domination.
May 13, 2011, 12:52:49 PM
This is not a market for unexperienced traders (any more).
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Yeah, I sold some BTC a few weeks ago, not a majority of my account or anything, but a few k. Now kicking myself. I think I'm going to follow bruce wagner's advice and just hold on for the ride.
May 13, 2011, 12:41:27 PM
The blue line is under the pink one... doesn't that mean prices should fall? 
the MACD indicator typically is a trailing (not leading) indicator. This means that prices may already be back on the rise, even if there is a divergence in the MACD.
I just want to reiterate two things
1) We are still in a long and short term rally phase. No evidence yet for any reversal.
2) As we have entered an exponential rising phase, the risk for a big drop has increased substantially. Be very careful when trading this market now. It has changed its nature big time.
We will see bulls and bears fighting with each other heavily until this is resolved.
This is not a market for unexperienced traders (any more).
I get the sense that a few experienced and wealthy traders just had funds cleared into MtGox and we're now seeing the results.
May 13, 2011, 12:30:41 PM
The blue line is under the pink one... doesn't that mean prices should fall?
No, it means you're pregnant.Jump to: