Is it a double top? - page 2. | Bitcointalksearch.org

coinableS

legendary

Activity: 1442

Merit: 1186

Quote from: David Latapie on July 19, 2015, 05:20:57 AM

The main reason why I am not sure it is a double top is because there have three months between each top.

My personal belief is that we are experiencing a double top which will start a ~~bull~~ bear trap followed by either a pump (pessimistic) or a bull market (optimistic) in September (Martin Armstrong predicted a financial crisis worse than 2008 and starting in Q4 2015).

This article goes to the same direction of a bull trap: that the recent events are misleading:

Quote

While it seems awareness of bitcoin has increased in [Greece], Liapi isn't convinced this is behind the recent increase in the price of bitcoin.

Thoughts?

Edit: typo (bull trap changed to bear trap)

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

Amph

legendary

Activity: 3248

Merit: 1070

not sure i would wait a bit more, it could be a SHS in disguise, the first ramp up of the head can coincide with the last top some times

if we can secure 300-350 in a short and resoanable amount of time then i would not call is a double top

magicmexican

hero member

Activity: 812

Merit: 1000

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.

Stedsm

legendary

Activity: 3052

Merit: 1273

There still seem "HOPES" for Bitcoin to go ahead and break some more lines ahead above.
As it is all about speculation, "HOPES" always make you feel that you are safe, but they won't make you win always.

8up

hero member

Activity: 618

Merit: 500

Quote from: ronald98 on July 19, 2015, 05:39:55 AM

This chart makes it look closer to a triple top. However, it also shows something that looks like a cup and handle forming. The triple top says we go down, but the cup and handle says we go up. The charts seem to be giving conflicting signals, and some of the TA guys don't seem too sure either. I don't think anyone knows which way it will go until we get a big move.

Also looks like Adam and Eve.

Most indicators (misleading?) show, that we are right before a rise up to new highs at least for 2015.

I only see doubt from EW guys. + a possible double/triple top.

Else:

Capitulation (V=Adam) check
Cup and Handle (U=Eve) check
Doubble/Triple Bottom (W) check
Golden Cross check
PSAR up check
Volume up check
Lin/Log Downtrend broken check
Pre-rise (long lasting) stability phase check
Many traders still bearish check

As long as we stay above $230 this is a bullmarket, still to be recognized (after 6 month going!)

ronald98

sr. member

Activity: 314

Merit: 250

This chart makes it look closer to a triple top. However, it also shows something that looks like a cup and handle forming. The triple top says we go down, but the cup and handle says we go up. The charts seem to be giving conflicting signals, and some of the TA guys don't seem too sure either. I don't think anyone knows which way it will go until we get a big move.

David Latapie

hero member

Activity: 658

Merit: 503

Monero Core Team

The main reason why I am not sure it is a double top is because there have three months between each top.

My personal belief is that we are experiencing a double top which will start a ~~bull~~ bear trap followed by either a pump (pessimistic) or a bull market (optimistic) in September (Martin Armstrong predicted a financial crisis worse than 2008 and starting in Q4 2015).

This article goes to the same direction of a bull trap: that the recent events are misleading:

Quote

While it seems awareness of bitcoin has increased in [Greece], Liapi isn't convinced this is behind the recent increase in the price of bitcoin.

Thoughts?

Edit: typo (bull trap changed to bear trap)

Topic: Is it a double top? - page 2. (Read 2429 times)