Is it a double top? | Bitcointalksearch.org

John999

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Quote from: jl2012 on July 23, 2015, 03:36:11 AM

Quote from: ?? on ??

Quote from: lebing on July 22, 2015, 11:04:46 AM

Quote from: masterluc on July 22, 2015, 03:54:32 AM

Double top matters in progressive uptrend.

"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

this.

Well there was an uptrend from $150 on January 14th to almost $300 on March 12th.

You can't say there is a "trend" just by connecting 2 points

So how do you call a period where the price doubles in the matter of 2 months?

bassclef

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Quote from: lebing on July 22, 2015, 11:04:46 AM

Quote from: masterluc on July 22, 2015, 03:54:32 AM

Double top matters in progressive uptrend.

"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

this.

Also agreed. A double top of such magnitude would only take on importance if there was an equally large uptrend behind it. The pattern (along with head & shoulders tops, triple tops, etc) implies distribution where quality of share ownership becomes poor when strong hands sell their shares to starry-eyed buyers (future weak hands) near the market top. This transfer causes the bear market.

One only sees this type of distribution after a long bull market. After a long bear market, the strong hands are busy collecting to distribute again at higher prices. It's much more likely that's what's happening here--accumulation and not distribution.

Natalia_AnatolioPAMM

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Quote from: titulng on July 23, 2015, 03:20:12 AM

the price can't touch more top in the next futrue. also $300 in the end of year

agree 100%

jl2012

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Quote from: ?? on ??

Quote from: lebing on July 22, 2015, 11:04:46 AM

Quote from: masterluc on July 22, 2015, 03:54:32 AM

Double top matters in progressive uptrend.

"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

this.

Well there was an uptrend from $150 on January 14th to almost $300 on March 12th.

You can't say there is a "trend" just by connecting 2 points

titulng

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HubrisOne

the price can't touch more top in the next futrue. also $300 in the end of year

lebing

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Enabling the maximal migration

Quote from: masterluc on July 22, 2015, 03:54:32 AM

Double top matters in progressive uptrend.

"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

this.

Alley

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I agree. This steady no volume period seems like what happened in the 220s.

Amph

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Quote from: NorrisK on July 22, 2015, 08:23:20 AM

Quote from: spazzdla on July 22, 2015, 08:13:18 AM

.. I have a feeling sub $200 or over $400 soon.. hum.. but it's just a feeling.

Or we just stay where we are and after a certain amount of stabilization we move to a stable range at 320.

in other word we are repeating what happened with 220-250 range but this time with another range, this is a scenario that is more likely than a simple furious pump or dump under 200

hironically , it seems that people cannot accept a steady growth even though, they think it is the best thing that can happen to bitcoin

NorrisK

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Quote from: spazzdla on July 22, 2015, 08:13:18 AM

.. I have a feeling sub $200 or over $400 soon.. hum.. but it's just a feeling.

Or we just stay where we are and after a certain amount of stabilization we move to a stable range at 320.

spazzdla

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.. I have a feeling sub $200 or over $400 soon.. hum.. but it's just a feeling.

Wexlike

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Quote from: darkangel11 on July 20, 2015, 07:18:09 PM

Quote from: afbitcoins on July 20, 2015, 06:10:22 PM

Quote from: hodlmybtc on July 20, 2015, 04:43:19 PM

It looks and is a cup and handle

I agree

We really need this after almost 2 years. Time to send the bears to their caves!

Can't agree more. After 1 and a half year of bear market, everyone hopes for trend reversal but at the same time has pretty low expectations after the false rally in the summer of 2014 and the crushing free fall in the beginning of this year.

In my honest opinion, this might be the perfect brewing for a new storm. A lot of bulls will sell at what they think is the top, just to buy in lower, but the market will leave them behind. I expect the unexpected.

masterluc

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Double top matters in progressive uptrend.

"With any reversal pattern, there must be an existing trend to reverse. In the case of the Double Top Reversal, a significant uptrend of several months should be in place."

darkangel11

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Don't let others control your BTC -> self custody

Quote from: afbitcoins on July 20, 2015, 06:10:22 PM

Quote from: hodlmybtc on July 20, 2015, 04:43:19 PM

It looks and is a cup and handle

I agree

We really need this after almost 2 years. Time to send the bears to their caves!

ejinte

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Quote from: coinableS on July 19, 2015, 10:52:29 AM

How come your chart doesn't show us breaking $300? Was I dreaming last week when that happened? I say no it's not a double top since we broke the previous top by over $10. Things just need to retrace a little and settle down, it's healthier growth that way anyways. See y'all at $1200 Wink

This is a euro chart.

yayayo

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Quote from: hodlmybtc on July 20, 2015, 04:43:19 PM

It looks and is a cup and handle

It can only be interpreted as a specific pattern, after the pattern is completed. I think looking at volume is more informative. Current volume looks like that there are slightly more buyers than sellers.

Most likely we will see a slow rise (through multiple jumps and crashes) to the $300-400 range and stay there for several months imho. I don't expect the next serious run up before next year.

ya.ya.yo!

afbitcoins

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Quote from: hodlmybtc on July 20, 2015, 04:43:19 PM

It looks and is a cup and handle

I agree

hodlmybtc

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It looks and is a cup and handle

Dump3er

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I dont get it? What you are trying to say?!

Until now it is no double top, since the price did not fall below the low between both tops, what indeed whould result in a confirmed double top with a price target below 100. So at most you are speculating for a double top or, what is more probable (when reading your further argumentation about bear/bull traps), you dont know what you are talking about...

AtheistAKASaneBrain

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It looks like a double top, until it doesn't. It may go down, then you'll wait.. and say oh, this now looks like a triple top.. and so on, until one of those tops doesn't go down, and you miss the next pump and stay out forever as a new ceiling is established. Moral of the story: never sell.

randy8777

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Quote from: magicmexican on July 19, 2015, 10:18:22 AM

Yeah well best case scenario that its just a small bear trap resulted from profit taking from 300$+, but a very good chance that it was just a train being totally shut down, and the reality will just settle in once again @230$ or so.

At least there is finally some kind of movement happening, the whole year so far being as boring as it could've been.

people say they like stability in the price, but when it happens to be somewhat "stable" people get bored and want to get the volatility back.

Topic: Is it a double top? (Read 2429 times)