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Topic: Pattern Recognition 101 - page 2. (Read 2825 times)

legendary
Activity: 1722
Merit: 1000
July 22, 2014, 09:32:52 AM
#14
So you're saying we drop to $300 ish then fly up to 3kish?
full member
Activity: 210
Merit: 100
July 22, 2014, 08:55:54 AM
#13
Look familiar yet?



You actually drew the first red rectangle at the wrong place. Right now it suggests that we're still in for the real consolidation-down phase! But I guess you're implying that we're about to enter another bubble.
So yeah, the pattern is there. And even if I'm at least somewhat skeptical of TA, they do tend to end in self-fulfilling prophecies at times!!!
legendary
Activity: 4424
Merit: 4794
July 22, 2014, 08:22:11 AM
#12
can people stop waiting around sitting on their hands thinking about the bitcoin price magically spiking.
What makes you think that's what we're doing? Spreading the truth about Bitcoin is helping Bitcoin, and the world.

these people.. are not bitcoiners, they are fiat investors waiting for the day they can cash out..,
Nice blanket generalization there Franky. Can't speak for anyone else, but I have no intention of ever "cashing out". Trading an appreciating asset for a depreciating one is the epitome of foolishness.

Damn man, I usually like your posts. Oh well, can't win em all.

just had a bad, day. i had 10 conversations this morning all with people talking about the price and when the next spike is (referring to the graph in OP) so that people can cash out.

to me i never even care about the price. all i care about is a 1% spread between the buy and sell price, as thats where the gains are. anyone that cares about the fiat price has ambitions to sell out
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
July 22, 2014, 07:29:33 AM
#11
can people stop waiting around sitting on their hands thinking about the bitcoin price magically spiking.
What makes you think that's what we're doing? Spreading the truth about Bitcoin is helping Bitcoin, and the world.

these people.. are not bitcoiners, they are fiat investors waiting for the day they can cash out..,
Nice blanket generalization there Franky. Can't speak for anyone else, but I have no intention of ever "cashing out". Trading an appreciating asset for a depreciating one is the epitome of foolishness.

Damn man, I usually like your posts. Oh well, can't win em all.
legendary
Activity: 4424
Merit: 4794
July 22, 2014, 07:13:37 AM
#10
can people stop waiting around sitting on their hands thinking about the bitcoin price magically spiking. instead can you think of something practical to do to actually make bitcoin more user friendly, more acceptable via merchants and customers. and give bitcoin a reason to spike.

everyone seems to be sat there praying for big whales to buy in and doing nothing to help the community, or the bitcoin infrustructure.

these people.. are not bitcoiners, they are fiat investors waiting for the day they can cash out.., so if your waiting for price rises more so then being able to buy a loaf of bread and a stick of ram from your local store using bitcoin.. then you are one of those fiat investors that needs to change your mindset
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
July 22, 2014, 06:47:41 AM
#9
Looking at that pattern seems that we will be facing a long period of stagnation, only after that (1 year?)
Perhaps, but I doubt it. The wheels in the Bitcoin world are spinning much, much faster today than they were 18 months ago.
legendary
Activity: 1260
Merit: 1029
July 22, 2014, 06:44:54 AM
#8
So bascly, first it will come slow drop down to 500's level, and than launch to the moon? I like that scenario!
sr. member
Activity: 644
Merit: 260
July 22, 2014, 06:44:19 AM
#7
Looking at that pattern seems that we will be facing a long period of stagnation, only after that (1 year?)
a new rally will come and throw the value to new all time highs.
legendary
Activity: 1764
Merit: 1002
July 22, 2014, 06:43:16 AM
#6
Self similar object?

So, next spike will bring bitcoin to astronomical level?
With regards to Bitcoin, "astronomical" is always relative to where you stand in time.

600 would be astronomical to someone looking at Bitcoin 18 months ago. 60 would seem terrible to someone looking at Bitcoin today.

Bitcoin is always approaching infinity relative to fiat money value. That's what happens when you put a deflationary, limited-supply form of money in the same place and time as an inflationary, unlimited-supply form of money. It's inevitable.

I like your thinking
legendary
Activity: 3948
Merit: 3191
Leave no FUD unchallenged
July 22, 2014, 06:42:01 AM
#5
I'm suddenly reminded of the Propellerheads song, History Repeating:

The word is about, there's something evolving,
whatever may come, the world keeps revolving
They say the next big thing is here,
that the (bitcoin) revolution's near,
but to me it seems quite clear
that it's all just a little bit of history repeating   Grin


Would be nice if history repeats itself again, but it's an open market and there's no guarantee of anything.  It's probably going to go up, but I doubt it'll be in quite as spectacular a fashion as last time.
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
July 22, 2014, 06:37:38 AM
#4
Self similar object?

So, next spike will bring bitcoin to astronomical level?
With regards to Bitcoin, "astronomical" is always relative to where you stand in time.

600 would be astronomical to someone looking at Bitcoin 18 months ago. 60 would seem terrible to someone looking at Bitcoin today.

Bitcoin is always approaching infinity relative to fiat money value. That's what happens when you put a deflationary, limited-supply form of money in the same place and time as an inflationary, unlimited-supply form of money. It's inevitable.
legendary
Activity: 2170
Merit: 1427
July 22, 2014, 06:37:30 AM
#3
Self similar object?

So, next spike will bring bitcoin to astronomical level?

You assume the same will happen again, which might, or might not happen. We will see that. But the price will only go up for sure. More and more merchants are accepting bitcoin, and soon you'll see in most shops the bitcoin accepted here logo.
full member
Activity: 166
Merit: 100
July 22, 2014, 06:33:43 AM
#2
Self similar object?

So, next spike will bring bitcoin to astronomical level?
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
July 22, 2014, 06:31:17 AM
#1
Look familiar yet?

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