Yuan Soars Most In A Decade As China Moves To Relax Capital Controls
http://www.zerohedge.com/news/2015-10-30/yuan-soars-most-decade-china-moves-relax-capital-controls
Could this play into bitcoin?
Topic: Nights Watch by Afrikoin - page 182. (Read 303329 times)
heart warming to see such a cracker rally.
This rose from bad EW form but in this volatility pieces of the puzzle are becoming inevitably clearer.
We are probably at the later stage of a third wave finishing with a fifth blowout. I think we can safely say that we are at a stage in an impulse that will form a primary wave followed by a wave 2 correction.
Also worth keeping in mind is the yellow count provided by Ryan earlier which, unless I'm mistaken, still seems a valid possibility.This rose from bad EW form but in this volatility pieces of the puzzle are becoming inevitably clearer.
We are probably at the later stage of a third wave finishing with a fifth blowout. I think we can safely say that we are at a stage in an impulse that will form a primary wave followed by a wave 2 correction.
Alternatively, this 5 down could be c of (b) of B where we will get a nice rally above 315 to complete a large B counter trend correction to the 152 lows' A.
Another lurker here 
There is indeed quite some lurkering occuring here 
I as well lurker your thread.
I'm sure a lot of lurkers will appreciate it in silence.
Satisfied lurker reporting in.
Chart by afbitcoins
Hi Afrikoin, just noticed your old requests for gold and bitcoin on same chart. Sorry didn't spot that at the time, haven't been frequenting the speculation forums that much lately.
Heres one, gold on top, bitcoin below if its still of interest for you..
****
It looks a bit like they went in inverse of each other for a while and now are kind of copying direction.
*****
When you look at them as a ratio you see that bitcoins moves are much greater than gold, so that the ratio looks very similar to bitcion priced in $us
Heres a ratio chart
*****
Bitcoin trying to break up through a channel at the moment, relative to gold. To stay in the channel gold will have to rise too, or bitcoin rise to end somewhere here ..
Heres one, gold on top, bitcoin below if its still of interest for you..
****
It looks a bit like they went in inverse of each other for a while and now are kind of copying direction.
*****
When you look at them as a ratio you see that bitcoins moves are much greater than gold, so that the ratio looks very similar to bitcion priced in $us
Heres a ratio chart
*****
Bitcoin trying to break up through a channel at the moment, relative to gold. To stay in the channel gold will have to rise too, or bitcoin rise to end somewhere here ..
THANK YOU AFBITCOINS!
This is of great help! I'm sure a lot of lurkers will appreciate it in silence.
Your charts confirm my feelings over the past months. BTC has a slight correlation with Gold and a bit of a lag. When gold moves up by 5, BTC moves up by 5y.
Please keep posting these charts regularly when you can.
Hi Afrikoin, just noticed your old requests for gold and bitcoin on same chart. Sorry didn't spot that at the time, haven't been frequenting the speculation forums that much lately.
Heres one, gold on top, bitcoin below if its still of interest for you..
It looks a bit like they went in inverse of each other for a while and now are kind of copying direction.
When you look at them as a ratio you see that bitcoins moves are much greater than gold, so that the ratio looks very similar to bitcion priced in $us
Heres a ratio chart
Bitcoin trying to break up through a channel at the moment, relative to gold. To stay in the channel gold will have to rise too, or bitcoin rise to end somewhere here ..
Heres one, gold on top, bitcoin below if its still of interest for you..
It looks a bit like they went in inverse of each other for a while and now are kind of copying direction.
When you look at them as a ratio you see that bitcoins moves are much greater than gold, so that the ratio looks very similar to bitcion priced in $us
Heres a ratio chart
Bitcoin trying to break up through a channel at the moment, relative to gold. To stay in the channel gold will have to rise too, or bitcoin rise to end somewhere here ..
heart warming to see such a cracker rally.
This rose from bad EW form but in this volatility pieces of the puzzle are becoming inevitably clearer.
We are probably at the later stage of a third wave finishing with a fifth blowout. I think we can safely say that we are at a stage in an impulse that will form a primary wave followed by a wave 2 correction.
currently the smaller time frames suggest sideways consolidation with a risk of entering fourth wave territory but ultimately contain the evidence for continuation.
Need more to say more. trading is going to be great with the coming volatility.
This rose from bad EW form but in this volatility pieces of the puzzle are becoming inevitably clearer.
We are probably at the later stage of a third wave finishing with a fifth blowout. I think we can safely say that we are at a stage in an impulse that will form a primary wave followed by a wave 2 correction.
currently the smaller time frames suggest sideways consolidation with a risk of entering fourth wave territory but ultimately contain the evidence for continuation.
Need more to say more. trading is going to be great with the coming volatility.
"Weekly RSI about to be overbought for the first time since the bubble."
I am also loooking out for something similar forming for a top of this 'correction'
likely did just get smashed.
That being said, I am watching closely for a potential shooting star pattern to develop here.
Some bear is going to get slaughtered on Finex with that rather large short position that was taken. We blew past the previous high from mid summer again today.
likely did just get smashed.
That being said, I am watching closely for a potential shooting star pattern to develop here.
Wyckoff Theory
I'm in the camp that thinks we're still in a larger correction - similar to October2014, and June 2014.
I could be wrong, but it helps for perspective.
I could be wrong, but it helps for perspective.
It is never wrong to be open in different perspectives. I, too, am waiting for a price correction to at least test if whether we are ready for a bigger push or not. For now, it seems like this train doesn't want to be stopped at the moment. Also I noticed that during nighttime in China, the price rise seem to halt or slow. China has the big hand and players in here even though the volumes aren't real.
I'm in the camp that thinks we're still in a larger correction - similar to October2014, and June 2014.
I could be wrong, but it helps for perspective.
I could be wrong, but it helps for perspective.
What makes me skeptical is the huge volume of the last move.
Everything else speaks for further correction (I think this means stability) after reaching a new plateau at ~$300
I'm in the camp that thinks we're still in a larger correction - similar to October2014, and June 2014.
I could be wrong, but it helps for perspective.
I could be wrong, but it helps for perspective.
""Holy shit - if this keeps on, price will hit RSI resistance on the WEEKLY. That hasn't happened since the last bubble. That that will be some serious ass resistance.
I have always thought that this market and the last bubble was much like the massive 2011 bubble up to $32. I don't view the April 2013 or Nov. 2013 bubbles as separate events - just one giant bubble. If you think about that year as a giant bubble, and and 2011 as a giant bubble, I think it provides a clearer picture. Liquidity is always increasing with price, so it takes more and more time and effort to move the price. That is a major factor as to why there was a pause in the summer of 2013. Think of liquidity / market cap as "stretching out" or "zooming in" or "magnifying" everything in the market. Movement takes more money, more time, and more movement (think fractals) to occur.
As a result, I've always looked back to the 2011 aftermath for guidance - that's why i never liked to look at the "bubblewatch" etc. because they were looking at tiny microcosms and defining a single period as separate discrete events. My thought process about that:
1 It took almost 2 years to reach previous highs ($32). That was at a time when there was no liquidity in the market at all. Bitcoin was like $5. It's been about 2 years since the $1200 day, and I'd expect another couple of years. I'm not wed to this idea and it's not my strongest conviction, but it's my best guess. My counter argument here would be that BTC will move less from trading / store of value and more to rails use-cases, exploding usership and demand, which would make the previous comparison irrelevant anyway. But all things equal and adoption occurring marginally, I don't expect $1,000 bitcoins again for a few years.
2 There were 2 run-ups with bubble-like behavior following the 2011 peak.
These were catalysts to restore some equilibrium in the market. Ironically, I think that these bubbles were necessary for price discovery. Normally, bubbles damage price discovery because there are yawning chasms of uncertainty where price hasn't bounced around. However, back then (and i think now), BTC corrected hard and floated too low for too long - eventually the market agreed that price should be substantially higher. This happened once, led to another softer bubble and stability.
3 I'd expect that this is following that first bottoming out period - price may jump up to $500 and then hover around $300 for a while. Repeat jump to $900 and then hover around $700 for a while. Bubble still far away.
So i don't think the exact motions will be comparable - you'd need to look at the 2011 daily to compare it to the current weekly to take into account differences in liquidity and time that i mentioned - and i think that's a fool's errand anyway. Nothing is ever going to be exactly the same. But i think the similarities are striking.
TL;DR: bitcoin had 2 bubbles: 2011 and 2013.""
I have always thought that this market and the last bubble was much like the massive 2011 bubble up to $32. I don't view the April 2013 or Nov. 2013 bubbles as separate events - just one giant bubble. If you think about that year as a giant bubble, and and 2011 as a giant bubble, I think it provides a clearer picture. Liquidity is always increasing with price, so it takes more and more time and effort to move the price. That is a major factor as to why there was a pause in the summer of 2013. Think of liquidity / market cap as "stretching out" or "zooming in" or "magnifying" everything in the market. Movement takes more money, more time, and more movement (think fractals) to occur.
As a result, I've always looked back to the 2011 aftermath for guidance - that's why i never liked to look at the "bubblewatch" etc. because they were looking at tiny microcosms and defining a single period as separate discrete events. My thought process about that:
1 It took almost 2 years to reach previous highs ($32). That was at a time when there was no liquidity in the market at all. Bitcoin was like $5. It's been about 2 years since the $1200 day, and I'd expect another couple of years. I'm not wed to this idea and it's not my strongest conviction, but it's my best guess. My counter argument here would be that BTC will move less from trading / store of value and more to rails use-cases, exploding usership and demand, which would make the previous comparison irrelevant anyway. But all things equal and adoption occurring marginally, I don't expect $1,000 bitcoins again for a few years.
2 There were 2 run-ups with bubble-like behavior following the 2011 peak.
These were catalysts to restore some equilibrium in the market. Ironically, I think that these bubbles were necessary for price discovery. Normally, bubbles damage price discovery because there are yawning chasms of uncertainty where price hasn't bounced around. However, back then (and i think now), BTC corrected hard and floated too low for too long - eventually the market agreed that price should be substantially higher. This happened once, led to another softer bubble and stability.
3 I'd expect that this is following that first bottoming out period - price may jump up to $500 and then hover around $300 for a while. Repeat jump to $900 and then hover around $700 for a while. Bubble still far away.
So i don't think the exact motions will be comparable - you'd need to look at the 2011 daily to compare it to the current weekly to take into account differences in liquidity and time that i mentioned - and i think that's a fool's errand anyway. Nothing is ever going to be exactly the same. But i think the similarities are striking.
TL;DR: bitcoin had 2 bubbles: 2011 and 2013.""
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