I’ve redrawn the trendline responsible for 5.05 and it is perfectly bouncing off it again so far, so I think could have bottomed out with that double bottom. Bears are likely out of Bitcoins and will want them back.
http://www.sierrachart.com/userimages/upload_2/1328535554210.png
Topic: inau's secret rocket - page 3. (Read 13352 times)
The question is: are we bouncing on a bottom or against the ceiling?
I'd say the first one
I'd say the first one
From what I see now, the slow up trendline was broken few days ago and it now turned into resistance (10d, hourly chart):
The price doesn't need to rocket anywhere. It seems that people are expecting a large move down or a large move up soon, it's not necessarily going to happen in the next few days.
It’s going to happen eventually. You really think this 2-3 week consolidation will just go on without being resolved either up or down?I can tell you it will be broken, and the resulting move will be big (and decisive for the next few weeks or months).
Your attitude reminds me of when people take notice that the price has been pretty stable lately, and they think the market has stabilized now, only to find it go crazy a day after.
I have to add that the price bounced off the walls at $5.45 - $5.50 many times already. If that level holds for a little bit longer, it's very likely that we'll see a move up. Not sure how large of a move, but up anyway. The selling pressure on those walls has been weak, it just doesn't look like a very bearish market.
The price doesn't need to rocket anywhere. It seems that people are expecting a large move down or a large move up soon, it's not necessarily going to happen in the next few days. The situation is very neutral and I feel a lot of people are unsure if they should be bullish or bearish at these prices. Anything can happen but on the other hand, nothing might happen.
Congratulations for saying absolutely nothing. (Other than saying that people are unsure about what is going (or not going to) happen.)
The price doesn't need to rocket anywhere. It seems that people are expecting a large move down or a large move up soon, it's not necessarily going to happen in the next few days. The situation is very neutral and I feel a lot of people are unsure if they should be bullish or bearish at these prices. Anything can happen but on the other hand, nothing might happen.
The market just cannot make up its mind... this is so atypical for bitcoin.
so you're short and fully leveraged?
Absolutely...
so you're short and fully leveraged?
How do you know this is not the height of a bubble? It may be healthier, but that doesn’t mean much.
no, the move to and crash from $7.20 was a bubble. if you look at the Accumulation/Distribution Line and other similar indicators you will see that there hasn't been much trending since the sellof to $4.xx, mostly flatline. we're still consolidating, long-term. whereto thereafter, i think UP.
His predictions are shit, but no poop has been posted. This allows him to make shit up as he goes along.
dude i don't want to clutter the forum with bulky graphs the data is available to everyone at bitcoincharts.com look at the ACCUMULATION/DISTRIBUTION LINE from december till now. just because you can't be bothered to do anything but litter your posts with words referring to excrement doesn't mean i haven't made a real prediction.
If your relying on 1 (positive) indicator you may be in for a surprise. I can take any number of other indicators for the same period (eg money flow index, william%r, slow stoch, chaikin money flow) that suggest the contrary to this indicator.
i don't rely on just one indicator... the analysis i post on this forum is obviously not an exhaustive one. it would be too much work and also i don't like to give you guys TOO much information...
LOL...yea whatever....
How do you know this is not the height of a bubble? It may be healthier, but that doesn’t mean much.
no, the move to and crash from $7.20 was a bubble. if you look at the Accumulation/Distribution Line and other similar indicators you will see that there hasn't been much trending since the sellof to $4.xx, mostly flatline. we're still consolidating, long-term. whereto thereafter, i think UP.
His predictions are shit, but no poop has been posted. This allows him to make shit up as he goes along.
dude i don't want to clutter the forum with bulky graphs the data is available to everyone at bitcoincharts.com look at the ACCUMULATION/DISTRIBUTION LINE from december till now. just because you can't be bothered to do anything but litter your posts with words referring to excrement doesn't mean i haven't made a real prediction.
If your relying on 1 (positive) indicator you may be in for a surprise. I can take any number of other indicators for the same period (eg money flow index, william%r, slow stoch, chaikin money flow) that suggest the contrary to this indicator.
i don't rely on just one indicator... the analysis i post on this forum is obviously not an exhaustive one. it would be too much work and also i don't like to give you guys TOO much information...
that said, the indicators you mentioned are oscillators, which i know tell their own story. the acc/dist line and other similar indicators, like i said in the post, which are largely price/volume transformations (PVT to mention another one), are quite bullish.
How do you know this is not the height of a bubble? It may be healthier, but that doesn’t mean much.
no, the move to and crash from $7.20 was a bubble. if you look at the Accumulation/Distribution Line and other similar indicators you will see that there hasn't been much trending since the sellof to $4.xx, mostly flatline. we're still consolidating, long-term. whereto thereafter, i think UP.
His predictions are shit, but no poop has been posted. This allows him to make shit up as he goes along.
dude i don't want to clutter the forum with bulky graphs the data is available to everyone at bitcoincharts.com look at the ACCUMULATION/DISTRIBUTION LINE from december till now. just because you can't be bothered to do anything but litter your posts with words referring to excrement doesn't mean i haven't made a real prediction.
If your relying on 1 (positive) indicator you may be in for a surprise. I can take any number of other indicators for the same period (eg money flow index, william%r, slow stoch, chaikin money flow) that suggest the contrary to this indicator.
How do you know this is not the height of a bubble? It may be healthier, but that doesn’t mean much.
no, the move to and crash from $7.20 was a bubble. if you look at the Accumulation/Distribution Line and other similar indicators you will see that there hasn't been much trending since the sellof to $4.xx, mostly flatline. we're still consolidating, long-term. whereto thereafter, i think UP.
His predictions are shit, but no poop has been posted. This allows him to make shit up as he goes along.
dude i don't want to clutter the forum with bulky graphs the data is available to everyone at bitcoincharts.com look at the ACCUMULATION/DISTRIBUTION LINE from december till now. just because you can't be bothered to do anything but litter your posts with words referring to excrement doesn't mean i haven't made a real prediction.
How do you know this is not the height of a bubble? It may be healthier, but that doesn’t mean much.
no, the move to and crash from $7.20 was a bubble. if you look at the Accumulation/Distribution Line and other similar indicators you will see that there hasn't been much trending since the sellof to $4.xx, mostly flatline. we're still consolidating, long-term. whereto thereafter, i think UP.
His predictions are shit, but no poop has been posted. This allows him to make shit up as he goes along.
it's ironic that my initial prediction for the low ($5.50) did correctly identify the next level of support after said bounce.
soon, this thread will be vindicated. i hope everyone is ready for the Great Bitcoin Comeback of 2012 ;D
Ready since 5.45. The almighty trendline will deliver another bounce, just like it did from 5.05.http://www.sierrachart.com/userimages/upload_2/1328523908556.png
But I agree, this is a long-term consolidation/trading range with uncertain outcome as long as we don’t violate former lows (4.64, 5.05, maybe 5.45) or highs (7.2, 6.2, maybe 5.8).
I have a bearish bias on the outcome, though, but we’ll see.
soon, this thread will be vindicated. i hope everyone is ready for the Great Bitcoin Comeback of 2012
How do you know this is not the height of a bubble? It may be healthier, but that doesn’t mean much.
no, the move to and crash from $7.20 was a bubble. if you look at the Accumulation/Distribution Line and other similar indicators you will see that there hasn't been much trending since the sellof to $4.xx, mostly flatline. we're still consolidating, long-term. whereto thereafter, i think UP.
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