Topic: Nights Watch by Afrikoin - page 155. (Read 303310 times)

Bull sentiment has reached fever pitch! c

check out dominic frisby's

It’s time to buy bitcoin

"Today we’re talking bitcoin, folks.

The bull market is back on, in my opinion.

Here’s why – and what you need to do…"

http://moneyweek.com/how-to-get-started-with-bitcoin/?utm_content=bufferc72bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

There is the corrective candle we have been waiting for!

Sell off to $451.

That must be a TV glitch cuz wisdom isnt showing it at all

i don't know, maybe some bots were failing?

looks really strange.

Strange looking candles on Bitstamp, anyone know the story ?

Possible, but from here it is a no brainer to hold onto your coins. Even if it does retrace, there will be a higher price at some point before the block reward halving which is only 70 more days. Everyone knows this.

"Patterns are in everything. This is how our universe operates."

Yes, absolutely...its the working with them bit I would approach with some caution.  You cannot possibly 'see' all the differing levels of patterns  (I make this claim in a similar way to understanding infinity, our brains naturally struggle to truly understand the concept), so if you begin to cherry pick the patterns then you begin to make incorrect assumptions. 

This is why I find EW problematic at the best of times - when a proponent makes an incorrect prediction they often claim "ah that means X was actually part of a bigger wave B...or whatever". Fine, nothing wrong with admitting you were wrong and going back to the drawing board.

But with BTC (a far more chaotic, but also manipulated system) this seems to be a regular occurrence.

And part of the problem is we love looking for patterns, so are more likely to see those which support our hypothesis.

I tend to trot this anecdote out a lot on these pages, but when I first discovered BTC in 2013 there was a thread by a guy here who came across as a bit of math genius and TA expert (Trend reversal IIRC) and it made a lot of sense.  Long story short, he was completely and utterly wrong and BTC made him look like a right chump. 

Its fine making predictions and a bit of fun, but remember lots of people read these pages and whether they realise or not are influenced by what they read....and in some cases lose a lot of money because they are seduced by highly technical 'logical' arguments.

3d starts way above bb20, expecting consolidation here or little dip

Japan OKs recognizing virtual currencies as similar to real money

http://www.japantimes.co.jp/news/2016/03/04/business/tech/japan-oks-recognizing-virtual-currencies-similar-real-money/#.Vx5qbTFYtZ2

SBI Leads Japanese Bitcoin Exchange’s $27 Million Series C

In interview, bitFlyer CEO Yuzo Kano indicated that the funding could be used to double the size of the exchange’s 23-person team, currently based in Tokyo and Luxembourg.

http://www.coindesk.com/sbi-leads-japanese-bitcoin-exchanges-27-million-series-c/

Bullish?

"Luxembourg has granted the company a license as a fully regulated Payment Institution. The license has been signed by Luxembourg’s Minister of Finance Pierre Gramegna. Bitstamp will become the first fully licensed bitcoin exchange in Europe, going into effect on July 1st, when the company will be fully operational from their new headquarters in Luxembourg."

https://medium.com/@PanteraCapital/bitstamp-becomes-first-nationally-regulated-bitcoin-exchange-blockchain-letter-april-2016-87468109b234#.fem039s6g

also not arguing.

As an ENTP (MBTI) my dominant primary mode of interpreting the world is patterns.... I find patterns (not just on charts, in the real world too) incredibly valuable. Why i am hesitant to brush them off b/c i have experience in how valuable they are.

Patterns are in everything. This is how our universe operates. i do not dismiss them, i work with them.

Sorry, i dont mean to come off as argumentative.

Really!!!  Who knew?

My point (since it seems I really have to hammer it home) is that patterns/fractals emerge within everything if you look hard enough.  Study a small, indistinct stone for a few minutes and they jump out.  Since you clearly spend a lot  of time looking at charts, it is hardly surprising you see fractals at every juncture.

As for volume, its interesting how all the TA folk who normally use volume as a key indicator are willing to concoct elaborate reasons why its now unimportant because it doesn't fit their analysis.

Anyhows...interesting that the 420 guy above uses an oil analogy -- the oil price dropped due to massive market manipulation due to OPEC trying to squeeze non-OPEC countries out of the market, its hardly a great example of how economics work, rather a reflection of larger geo-political maneouvring.

I'm not being deliberately argumentative Afrokoin, but provocations are required to keep thinking disciplined,

How 420,000 might be bitcoin’s magic number

https://www.linkedin.com/pulse/how-420000-might-bitcoins-magic-number-daniel-masters

from https://whaleclub.co/i/XNRb52

Gold Price Round Up (Apr 23)

http://blog.vaultoro.com/2016/04/23/gold-price-round-up-apr-23/

Yes, volumes. Everyone keeps bringing that up. I posted some thoughts on volumes from another thread. Seemed like reasonable explanations. ALso,low volume is a characteristic of wave 4, (if this turns out to be one).

Patterns within patterns are fractals. This looks like a pattern forming for a break out on a small timeframe