Topic: Pattern Recognition 101 - page 2. (Read 4366 times)

Got it, you mean until $400, it's a must-buy cheap coins.

I expect the pattern at this point is going to trigger recognition in a lot of people at the same time, especially if the price has been climbing rapidly for many consecutive weeks.

Kind reminder, Beliathon

There is obviously a pattern. We are at the beginning of a recovery here. The shape looks the same, but the time scale is unknown. We could have a lot more sideways before a rise. I think the next boom will be timed just before the halving next year.

Calm down, comrade. We can sort out all such details in the thought-provoking environment of the gulags. Good old physical labor makes for a strong and healthy cardiovascular system, which brings lots of oxygen-rich blood to our brains for figuring out how to transcend this hell we've created. Now you can put those fancy golfclubs to good use breaking rocks, or we can melt them down to make pots and pans for the Public Kitchens. Your call.



Laugh now capitalist, but soon the power relations will once again be inverted to the peasantry, and it won't be so funny then.

The perfect storm is forming.

A long boring quiet time in the markets doesn't imply price is going to probably break to the upside.  The only thing that makes it more likely is because we know the fundamentals are strong.  Lots of VC money, increasing regulatory certainty, the halving of 2016, etc.  

In fact, the idea that the bull run of 2013 was a larger version of a bull run earlier and therefore can be extrapolated to 2015-2106 to predict an even bigger bull, isn't even pattern recognition IMO, or at least not pattern recognition that is going to make you money.  It's really a strong belief in the fundamentals and then looking at the charts to try to justify that belief.  

"The plain fact is that the planet does not need more 'successful' people...
...It needs people who live well in their places"

Are "those few of us gifted with exceptional intellectual acuity" also the ones who get to tell the others exactly where their place is in life? How do you rightfully determine that, without freedom and a free market? Ranting about phony "capitalism" is fine, but if you are not in support of free markets (which do allow for "rational self-interest"), then what type of system are you 'promoting'?

Why $400 on purpose ?

Anyone who isn't buying when it passes 400 is mad. Also, you should read my last post before this one.

There is a long, boring quiet time (base-building) prior to the second large rally. We are nearing (or at) the end of a similar phase, so it does indeed look "strongly bullish". You don't have to wait until $550 (for example) to call it the (probable) start of a major bull market.

Those few of us gifted with exceptional intellectual acuity have an ethical duty to serve the rest of humanity with honesty and benevolence.

Perhaps the greatest tragedy of our time is that we've fostered a culture which teaches young people the opposite, teaches them to use their gifts only for personal gain, to claw their way up the violence-backed hierarchy. This sick culture of self worship - with the forced collapsing down of our collective empathy spheres it produces - is an ethical perversion, a travesty of epic proportions, and the cause of vast unknowable human suffering. Any sane, reasonably maladjusted 21^st century free-thinking person will tell you it's plain to see: capitalism is an ethical abomination, the only real crisis, and the only problem worth solving.

Make no mistake folks, this is our generation's slavery. Where you fall on this issue will determine whether or not humanity eternal remembers you fondly as one who fought to improve civilization. Yes, I realize that's an appeal to vanity, but I'm vain so I assume many of you are as well. Be remembered well, not as a blissfully ignorant wage-slavery/capitalism-apologist hyperconsumer petit-bourgeois shitbag. Abolish capitalism.



I hope you didn't actually believe I was going to leave you with nothing more than bullish graphs. This thread is about pattern recognition, I have no intention of denying you the whole truth.

sources confirm it

I Saw it, I like it

please don't do that...switch timeframes on me and expect
to argue the same point.  Yes the 30m chart is bullish. 

normally you can look at the last 30,40,50 bars or so
on any given chart when determining trend or momentum
although you can go further back when referencing major
support/resistance.

This time could be different, an altogether new beast. During the transition to this next order of magnitude, many wealthy smart people are going to recognize that this pattern will not stop until all fiat wealth has been consumed. The new post-boom high could end up being much higher than 2,500 $.

My findings concur with the OP. However I would like to add the following analysis:


It looks like that after breaking the level of the 2nd bull trap after the bubble, a new bubble was provoked last time. If it would play out similarly this time, this would mean first breaking through the 600USD level, probably hovering around a bit on that level before shooting to a new ATH.

My prediction to break 600USD is more or less at the end of this year. Then, with the priced in halving and some other major events, Bitcoin will shoot up.