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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31181. (Read 26711277 times)

hero member
Activity: 574
Merit: 500
Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

We are clearly talking about different timeframes.
I was talking about short term.

Fair enough!  one mans 15min Bull flag is anothers 1 hour bear flag.


bears scream 100-200 we get 600. now that we're saying 600 were probably gonna dip as low as 750.. but all in all the strong hand whale gets more coins.. from those who pick bad entry and exit points. I am avoiding all the day trading as I am just so unsure when a whale will make a splash.

I was gonna sell at 970+ on cavirtex would've been wise. but alas I really would' prefer to just let the market be while I do other more important things like drink shots of tequila with Tabasco sauce
hero member
Activity: 518
Merit: 500
Anyone good a reliable ticker for gox just now - my regular ones (wisdom and ticker) are not showing prices properly!

bitcoinity
legendary
Activity: 2604
Merit: 1748
Anyone good a reliable ticker for gox just now - my regular ones (wisdom and ticker) are not showing prices properly!

EDIT:   Ah - maybe as the API is off, the bots aren't working - hence odd look
member
Activity: 84
Merit: 10
Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

We are clearly talking about different timeframes.
I was talking about short term.

Fair enough!  one mans 15min Bull flag is anothers 1 hour bear flag.

hero member
Activity: 518
Merit: 500
Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.



I mean H&S as trend reversal pattern, not reverse H&S. Sorry, didn't understand correctly the previous posts.





hero member
Activity: 658
Merit: 500
It may seems "bearish" in the short-term, but even if we go down to the 500s again it would be extremely bullish in the mid/long-term... imo a correction now would be really healthy Smiley


translation : your order just got filled at $900....

 Grin
full member
Activity: 124
Merit: 100
Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

We are clearly talking about different timeframes.
I was talking about short term.
legendary
Activity: 2604
Merit: 1748
RTBTC doesn't get good feed from bitstamp, api problem, anyone?

Bicoinwisdom also looks weird - long lag - very slow movement - just odd.

Hope Gox isn't flipping out - won't be pretty if it does it now Sad
sr. member
Activity: 532
Merit: 261
­バカ
It may seems "bearish" in the short-term, but even if we go down to the 500s again it would be extremely bullish in the mid/long-term... imo a correction now would be really healthy Smiley
legendary
Activity: 1050
Merit: 1000
What the hell happened?!
I walk out for a couple of hours, and - this?!
Well, luckily, I sold at a loss at 940 and placed an optimistic buy at 902. Then I walked out. A few minutes later 902 got hit!
I have now 1 BTC more than what I started the day with.
On the down side, it seems to continue down, and I wonder if I should sell again and re-buy even lower...

Wow, you finally made a profit Shocked

Good on you Smiley
member
Activity: 84
Merit: 10
Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

full member
Activity: 238
Merit: 100
RTBTC doesn't get good feed from bitstamp, api problem, anyone?
legendary
Activity: 2772
Merit: 1028
Duelbits.com
It definitely looks bearish now but as we know that changes very fast on bitcoin.
hero member
Activity: 518
Merit: 500
Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.
member
Activity: 84
Merit: 10
Check 1d at Moody. Such classic.

Yall know what to do.  Cool Cool Cool

Actually, no I don't. Bounce or continuation of rally after extreme correction?
looks like a head and shoulders is maybe forming, which would mean sub $500 on gox.  

http://www.youtube.com/watch?v=1ByzZ6b4ET8&list=PL33D0C18CDEBF64B7

Looks more like a reverse head and shoulders pattern to me ...

how is that possible?  One of the peaks is the all time high making a reverse pattern impossible.  

Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?
hero member
Activity: 546
Merit: 501
Check 1d at Moody. Such classic.

Yall know what to do.  Cool Cool Cool

Actually, no I don't. Bounce or continuation of rally after extreme correction?
looks like a head and shoulders is maybe forming, which would mean sub $500 on gox.  

http://www.youtube.com/watch?v=1ByzZ6b4ET8&list=PL33D0C18CDEBF64B7

listen to him and say good bye to most of your coins, when you will have to buy back them later for $1200. If you don't believe me, check older threads in this forum it is filled with such unfulfilled promises.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
newbie
Activity: 28
Merit: 0
Yeah reverse.. This means we are about to fling up again?
legendary
Activity: 1246
Merit: 1010
"I don't understand what value there is in bitcoin"

I do believe bitcoin is technically sound and I do understand the value of bitcoin if it worked in practice as its proponents hope.

However I do not believe that it will work, for economic reasons, not technical ones.  These objections have been made by many, and I have not seen them answered.  

The answer is the last few years of it WORKING.  It is visible in the 10x increase in spending reported by bitpay as compared to last year.  In the increasing adoption by people in countries all over the world.  

I don't know what specific objections you are referring to.  But I constantly hear lots of economic objections that the objectors think are axiomatic but are in fact simply derivations of how the current fiat debt-based system works.  A good example is the idea that money must be backed by something or have marginal utility or intrinsic value.  When you really think about it, marginal utility is simply a neat solution to the "bootstrapping" problem.  It is irrelevant to the price today.  Nobody buys gold at $1200 because it has an intrinsic value of $100.  There can be other mechanisms to bootstrap a currency as we have seen with Bitcoin.  In particular, it was given a price in 2010 based on expectations of future utility/value.

And it is not the first zero-intrinsic-value currency.  There are other currencies that exist that have no marginal utility, like Rei Stones.  I would imagine that these stones are not valued on expectation of future utility, but based on the effort it took to make one.  They say, I am so powerful I can waste my money on this...

PS: This is not to say we won't go down a lot.  We are very high right now...  a bubble pop will not kill bitcoin.  In fact, it will let a lot more people enter the market.
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