Topic: Nights Watch by Afrikoin - page 186. (Read 303310 times)
My opinion on next days: bulls will bang their heads against resistance, but won't be able to break, and next weekend we start a long term downtrend.
Gold & Silver Pumped-n'-Dumped After China Data
http://www.zerohedge.com/news/2015-10-19/gold-silver-pumped-n-dumped-after-china-data
http://www.zerohedge.com/news/2015-10-19/gold-silver-pumped-n-dumped-after-china-data
Even if faked. The volume speaks volumes!
https://www.tradingview.com/chart/BTCUSD/rk2tHOdI-BITCOIN-DOWNTREND-IS-OVER/
2 year old log downtrend line finally broken with strong volume!
Target based on equidistant channel idea in combination with S/R levels.
I believe wave (iv) is "in". I can count five waves down. At 283.38 level is where c=a*1.618. It is rare for C waves to be longer than a*1.618. It's possible to project wave (v) by using a channel connecting waves (ii) to (iv) and through the end of (iii). This impulse wave will likely complete on Oct 22
Hello all,
here is an interesting chart I put together today. Notice the very similar price action today as compared to last year's US government auction of Silk Road Bitcoins. As an event that will bring Bitcion to the public's attention (and may even garner new buying interest) the upcoming US Marshal's auction of bitcoins marks a significant fundamental driver of price for me. Ride the wave of 'the rumor' into harmonic targets but try not to be caught too long on the other side of the event.
Cheers
The Rational Investor
See chart on this link: https://www.tradingview.com/chart/BTCUSD/qQWVxfwE-Previous-US-Gov-t-Auctions-As-A-Road-Map-For-Price-Action/
here is an interesting chart I put together today. Notice the very similar price action today as compared to last year's US government auction of Silk Road Bitcoins. As an event that will bring Bitcion to the public's attention (and may even garner new buying interest) the upcoming US Marshal's auction of bitcoins marks a significant fundamental driver of price for me. Ride the wave of 'the rumor' into harmonic targets but try not to be caught too long on the other side of the event.
Cheers
The Rational Investor
See chart on this link: https://www.tradingview.com/chart/BTCUSD/qQWVxfwE-Previous-US-Gov-t-Auctions-As-A-Road-Map-For-Price-Action/
https://www.youtube.com/watch?v=tapzq_1DQo4
Bitcoin Update 2015 - The Future of Bitcoin w/ Trace Mayer
Bitcoin Update 2015 - The Future of Bitcoin w/ Trace Mayer
hi afbitcoins. been a minute
Combined Gold and BTC chart - 2 in one. looking to see if any correlations between both. Since 2008, daily chart
Combined Gold and BTC chart - 2 in one. looking to see if any correlations between both. Since 2008, daily chart
Honestly, it doesn't seem to have much correlation, imo. I would say it has more inverse correlation than following, but only marginally, almost negligibly. Since 2011, Bitcoin is up, over all, and gold is down. Some of the internal waves are with and some are against.
hi afbitcoins. been a minute
Combined Gold and BTC chart - 2 in one. looking to see if any correlations between both. Since 2008, daily chart
Combined Gold and BTC chart - 2 in one. looking to see if any correlations between both. Since 2008, daily chart
Thanks for coming here and sharing. Add your EW thoughts when you can. I would like to bring ALL TA on one thread. I strongly believe combining EW with other TA is a superior technique.
You're welcome, shall do, though there are defo otheres out there with much better EW skills
Thanks for keeping up this thread - its once of the best, most balanced, threads here now. Your current bearish bias is clear to see
, but you still post technical analysis that contradicts your own views. That's refreshing.Like you say, if we could get some our best analysts to post charts here, whatever method, that would be really cool.
I see what you mean on the 1-2.
Check out a chart i've just put up.
#236
Nice chart! Has same effect as the 'truncated 5th' option, $200 was bottom of a wave 1, this is the top of 2 and we are now entering a 3 that should be pretty deep and dramatic. I prefer Matthew's count TBH - the w-x-y correction looks more in proportion to the wave 1 drop time-wise.
Not sure why he considers it a w-x-y as opposed to an A-B-C, but the difference here, if any, is beyond my understanding of EW
It should be noted that though we do seem to have turned now, that both alternatives allow for another leg higher in this rally. I think eboard10 is looking for this - a minor 4th wave retracement here (which may be complete), then a final 5th up. Would be cool to see an update from him. I'm also not sure this impulse is complete either and would not be surprised to see this, though given the number of extensions in the minor 3rd of the [y] on this chart, it may very well truncate anyway (especially in China), meaning the top is already in. Either way, I think we will struggle to push much higher here - just putting it out there more as a something to watch out for over the next couple of days - we will know soon enough
Thanks Africoin
I'm with you.
On the chart below, 1 and 2 was a run up driven by Greece speculation on EU financial economic stuff. Do we have more fueled speculation now vs then? DOubt it. And, if Greece couldnt break that EMA line, I doubt this one will.
My expectations are that some similar pattern will form here. Failed 5th - double top at 5.
If not, i'm still open to a high to $300, like you say.
My primary interest is whether we'll go below $200 this year, $150? If this is a 2, and we go won for a 3rd wave, we got to hit $150. We'll see.
Thanks for coming here and sharing. Add your EW thoughts when you can. I would like to bring ALL TA on one thread. I strongly believe combining EW with other TA is a superior technique.
“In five short years Bitcoin has issued 12 million units valued at $6 billion,” stated Mr Matonis. “No other virtual currency has ever done that in the history of modern economics. That demonstrates that we don’t need governments to provide our currency. We don’t need kings to coin our money. The myth of legal tender has been shattered. With apologies to the Chancellor, the emperor has no clothes.”
Typical BTC believever nerd stuff. Masses continue to use paypal.
Nuh.
You completely missed his point. I wouldn't label Jon as a 'typical BTC believer' because, for one, he was working on digital cash as early as 1996. Have a listen to a Virgin podcast i put up a couple of days ago.
Everything he says in this block of text is fact. This is a political statement with little to do with Paypal.
I see what you mean on the 1-2.
Check out a chart i've just put up.
#236
Nice chart! Has same effect as the 'truncated 5th' option, $200 was bottom of a wave 1, this is the top of 2 and we are now entering a 3 that should be pretty deep and dramatic. I prefer Matthew's count TBH - the w-x-y correction looks more in proportion to the wave 1 drop time-wise.
Not sure why he considers it a w-x-y as opposed to an A-B-C, but the difference here, if any, is beyond my understanding of EW
It should be noted that though we do seem to have turned now, that both alternatives allow for another leg higher in this rally. I think eboard10 is looking for this - a minor 4th wave retracement here (which may be complete), then a final 5th up. Would be cool to see an update from him. I'm also not sure this impulse is complete either and would not be surprised to see this, though given the number of extensions in the minor 3rd of the [y] on this chart, it may very well truncate anyway (especially in China), meaning the top is already in. Either way, I think we will struggle to push much higher here - just putting it out there more as a something to watch out for over the next couple of days - we will know soon enough
Thanks Africoin
“In five short years Bitcoin has issued 12 million units valued at $6 billion,” stated Mr Matonis. “No other virtual currency has ever done that in the history of modern economics. That demonstrates that we don’t need governments to provide our currency. We don’t need kings to coin our money. The myth of legal tender has been shattered. With apologies to the Chancellor, the emperor has no clothes.”
Typical BTC believever nerd stuff. Masses continue to use paypal.
Does this look familiar?
a- b- c
a- b- c
Only valid if it is an expanding diagonal, as 4 overlaps with 1
Same with David's chart above, post #225
However, in other charts (I think by Ryan on Masterluc's thread) it has been suggested that in the case of BTC, what is labelled as 2 is actually a truncated 5th of the previous C. In which case, drop from 300-200 is wave 1, and this is an a-b-c wave 2 retracement. Which would put as at a .75 retracement - perfectly reasonable for a wave 2 and could even go higher (invalidation at 300)
Does seem a little out of proprtion time-wise though (EDIT: maybe not). Interested to hear any pro EWers chime in on this.
Great thread by the way Afrikoin
EDIT: This count (truncated 5th where David has labelled 2) has almost been invalidated on the chinese exchanges, where we have a close to 100% retracement already (invalidation at 1845 CNY on OKC, 1850 on Huobi), but there may be an alt count there.
I see what you mean on the 1-2.
Check out a chart i've just put up.
#236
Matthew says "Bitcoin has hit our $271 target. Expecting a large drop to below $100"
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