Topic: Bitcoin went out of exponential trend into linear downtrend [TA inside] (Read 3652 times)
February 05, 2015, 04:34:13 AM
Just as Bitcoin was above the linear trend line, it is below it now. Great time to be buying bitcoins.
February 05, 2015, 04:33:15 AM
Thanks for the advice fonzie
February 05, 2015, 03:52:24 AM
Congratulations, you win the price for the most arbitrary lines ever drawn in the history of bitcointalk.org!
"Fonzie" is that the name of a muppet ? Sounds quite appropriate.
Those lines aren't arbitrary btw, carefully plotted
Heres another version specially for you.
Can you make the same picture with the bottom of the 2011 bubble connected to the january 2015 bottom?
Like this ?
Thats an interesting slope!
Congratulations, you now have 5 trendlines that are based on another one with 2 arbitrary chosen points. Are you sure that you understand the concept of "drawing lines"?. Lol
This almost looks like the graph of @igorr... At least he was funny.
(each 1st in month new chart with lines)
Can't wait to see it. Today is the day!Today is 1st Jun 2014 and time for new chart,
seems blue zone is broken, but its just beginning, (not yet)
View Screen Capture February 05, 2015, 03:50:02 AM
Congratulations, you win the price for the most arbitrary lines ever drawn in the history of bitcointalk.org!
"Fonzie" is that the name of a muppet ? Sounds quite appropriate.
Those lines aren't arbitrary btw, carefully plotted
Heres another version specially for you.
Can you make the same picture with the bottom of the 2011 bubble connected to the january 2015 bottom?
Like this ?
Thats an interesting slope!
Yes, thank you very much.
February 04, 2015, 08:02:09 PM
Seriously ask yourself if Bitcoin will ever trade at $10 again. That is a 130 million market cap....
It isn't going to happen.
1. Fatal flaw found, bitcoins stolen in mass
2. Total global government ban with prison time for some
Other than that finding a million zealots to plunk down $130 on bitcoin is cake.
Hell right now it only takes a million zealots to pluk down $3000 to make it work 3 billion, and if you remove the whales much, much less than that.
Probably takes a million zealots only $1000 to support the current price.
Next wave up will be so painful to watch unless you are accumulating.
It isn't going to happen.
1. Fatal flaw found, bitcoins stolen in mass
2. Total global government ban with prison time for some
Other than that finding a million zealots to plunk down $130 on bitcoin is cake.
Hell right now it only takes a million zealots to pluk down $3000 to make it work 3 billion, and if you remove the whales much, much less than that.
Probably takes a million zealots only $1000 to support the current price.
Next wave up will be so painful to watch unless you are accumulating.
February 04, 2015, 06:49:14 PM
Congratulations, you win the price for the most arbitrary lines ever drawn in the history of bitcointalk.org!
"Fonzie" is that the name of a muppet ? Sounds quite appropriate.
Those lines aren't arbitrary btw, carefully plotted
Heres another version specially for you.
Can you make the same picture with the bottom of the 2011 bubble connected to the january 2015 bottom?
Like this ?
Thats an interesting slope!
February 04, 2015, 06:44:44 PM
Just because there's a line there doesn't mean it can't go around it. I'm pretty sure the bubble to $1000 broke some trend lines. Once Wall Street got involved, a lot of the past trend lines for Bitcoin don't mean shit. It's a new ball game.
wallstreet is pipedreams. You notice correctly: it was a bubble
Question: when in history did speculative bubbles repeat a second time on the same thing after collapsing? Never.
.. Silver?
The Dow?
Bitcoin in 2011 ...
Bitcoin in 2013/14 repeated bubble ...
February 04, 2015, 11:33:04 AM
Below the longterm trendline since 2012 on logarithmic view. This line has been broken with the panic in January
Now we can see the price moved from exponential line to a linear one.
Below you see the same graph with exactly the same lines once in logarithmic view and once in linear view.
logarithmic view:
the log-view straight line was accurate before the January crash
After that point the linear line became the accurate one
linear view:
conclusion: Bitcoin fell off its projection for megalomania worlddomination and is now a shitcoin with delusions of grandeur trading linear instead of exponential. Its fundamentals and basic assummptions have been shown to be wrong. The hype is over. Bitcoin today is as good as any other coin with such bad fundamentals. After this it appears to be wildly overvalued.
I would predict a continuated trading along the linear decending line. Bottom? Not so much ...
Once the next big up move starts, then the long-term trend line will be redrawn at a slightly different slope.
Conclusion:
TA is simply a tool, and strong fundamentals sometimes make it a worthless tool.
February 04, 2015, 11:29:07 AM
Congratulations, you win the price for the most arbitrary lines ever drawn in the history of bitcointalk.org!
"Fonzie" is that the name of a muppet ? Sounds quite appropriate.
Those lines aren't arbitrary btw, carefully plotted
Heres another version specially for you.
Can you make the same picture with the bottom of the 2011 bubble connected to the january 2015 bottom?
February 03, 2015, 03:23:52 PM
Just because there's a line there doesn't mean it can't go around it. I'm pretty sure the bubble to $1000 broke some trend lines. Once Wall Street got involved, a lot of the past trend lines for Bitcoin don't mean shit. It's a new ball game.
wallstreet is pipedreams. You notice correctly: it was a bubble
Question: when in history did speculative bubbles repeat a second time on the same thing after collapsing? Never.
.. Silver?
The Dow?
February 03, 2015, 01:28:18 PM
There are people who will still tell you 'it's going up and never went down' when we hit 10$ a coin.
February 03, 2015, 06:19:11 AM
Congratulations, you win the price for the most arbitrary lines ever drawn in the history of bitcointalk.org!
"Fonzie" is that the name of a muppet ? Sounds quite appropriate.
Those lines aren't arbitrary btw, carefully plotted
Heres another version specially for you.
I'm not saying it will all be unicorns and rainbows I'm just observing the market and adjusting my analysis as required. We are still in a downtrend primarily, realistacally we have to break out of that first.
I get fed up with haters of technical analysis coming to the speculation forums.
Its a way of speculating!!!!!
February 03, 2015, 02:15:34 AM
There is no everlasting bear market,hope you're right and we get out of the downtrend.
Well, i can show you several alts that have seen an 'everlasting bearmarket'. In crypto such a thing is certainly possible.
Bitcoin is quite different from other alts, and as we all know, a lot of alts were born to scam or earning quick money.
February 02, 2015, 05:39:00 PM
To OP: Yes breaking that trend line is pretty screwed up shit.
I got good TA too:
I got good TA too:
February 02, 2015, 05:34:12 PM
Based on this chart bitcoin looks like it is historically cheap, only being on that same trendline in the very earliest trading back in 2010!
[img]https://www.tradingview.com/x/5wkkXTpJ/
Congratulations, you win the price for the most arbitrary lines ever drawn in the history of bitcointalk.org!
February 02, 2015, 05:32:37 PM
Based on this chart bitcoin looks like it is historically cheap, only being on that same trendline in the very earliest trading back in 2010!
[img]https://www.tradingview.com/x/5wkkXTpJ/
Congratulations, you win the price for the most arbitrary lines ever drawn in the history of bitcointalk.org!
February 02, 2015, 05:21:56 PM
Based on this chart bitcoin looks like it is historically cheap, only being on that same trendline in the very earliest trading back in 2010!
February 02, 2015, 05:21:35 PM
This one makes more sense, the only downside is it doesn't really predict much. As the price can be anywhere between 250 and 5000 in the next few weeks.
February 02, 2015, 05:18:46 PM
Quote
Its fundamentals and basic assummptions have been shown to be wrong. The hype is over. Bitcoin today is as good as any other coin with such bad fundamentals. After this it appears to be wildly overvalued.
I would predict a continuated trading along the linear decending line. Bottom? Not so much ...
I would predict a continuated trading along the linear decending line. Bottom? Not so much ...
awesome, you are exercising a technical chart analysis and mix it up with "fundamentals and basic assumptions".
Never, ever compare a peach with an orange!
And in the same thread admits he is allegedly short from 300.
The end of this bear market is going to surprise a lot of 'traders'..(but but but the line on the chart pointed down!!)
February 02, 2015, 05:00:04 PM
Quote
Its fundamentals and basic assummptions have been shown to be wrong. The hype is over. Bitcoin today is as good as any other coin with such bad fundamentals. After this it appears to be wildly overvalued.
I would predict a continuated trading along the linear decending line. Bottom? Not so much ...
I would predict a continuated trading along the linear decending line. Bottom? Not so much ...
awesome, you are exercising a technical chart analysis and mix it up with "fundamentals and basic assumptions".
Never, ever compare a peach with an orange!
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