Topic: PnF TA - page 69. (Read 190664 times)

Back on topic, and to stay on the perspective that will lead the BTC up to the $325 level here's something worth reading:


https://ihb.io/2015-08-10/news/bbva-blockchain-technology-poised-financial-industrys-biggest-disruptor-yet-22330

Edit: News courtesy of gotmilk from another thread.

Touché.

Direct answer: Ask Merkel why she pays for something she won't [ever] get back.

Direct question: How much does this agreement cost Germany?

I don't claim to be an expert by all means, but i try to answer your questions.

1. Because of the rising interest rate for the dollar  speculative money flows back to the usa. Thus accelerating the debt crisies in foreign countries. European debt crisies. Asian stock market bubble.

You have to understand that currency flow accelerates even more flow, especially speculative money, creating a new bubble. A strong dollar will then break America's economy after that.

2. After 5 years: >10k  or ~0(=dead)
10 years is too far in the distance

FWIW: Today's news in Greece reveal 11 points of agreement with the EU representatives. What is significant enough, is the fact that they seem NOTHING like the austerity measures we expected! Maybe we're on a verge here or (maybe) there's a change of plans after the global situation (mainly signals from China) seems to go down the drain.

If this turns out to be a success, then we got out of the "punishment" procedures we were, during the last five years and -hopefully- initiates a more "people-friendly" policy towards the people of EU. Too good to be true? Let's just wait and see.

Please use Google translate:
http://www.imerisia.gr/article.asp?catid=26516&subid=2&pubid=113654588

Relax mate.

I'm not here 24/7 browesing the forum and this thread specially in details to be this ultra-focused.

Since you engaged in the thread, let me reply on what you said.

1. Why all the money will be moving to USD ?

2. What is the range of price you see bitcoin in 5 and  10 years from now ?

Thanks.

TBTB explained his opinions countless times already, how could you miss it?

1. Because all money is moving to the dollar. All other commodities will lose value compared to it. And he believes that we didn't reach the bottom yet because Inca and Risto are still bullish.

2. After that the dollar will collapse and Bitcoin will make new ATHs after 2016.

TBTB, correct me if I am wrong.

You can't wait a month? Impatient?

No doom anymore?

Yep. And MA's computer Socrates is remaining long gold until the first week of September. Appears that Aug. 10 (the yellow bar) is a turning point for a short-covering, short-term rally up to roughly $1140s, not for a crash. So you may want to go long again BTC for another rally up to the long-term trend line at $325±10 before we go short again for the collapse down to double digits:

http://www.armstrongeconomics.com/archives/35822

What changes after 2019, is that Asia's collapse will bottom as of 2020.05 (while the West will continue to spiral off into the demographic, politico-economic decay). That is 2015.75+4.3. Half of an 8.6 year cycle on the ECM (1000 x Pi days).

So perhaps from 2020, there is enough confidence to divest gold and start investing in Asian bonds paying high interest rates. I do believe FATCA will be in full force and enforced by the Chinese against foreigners. So you won't be divesting of your gold without paying the taxman back in your home Western country which might entail very high levels of taxation or even expropriation for "money laundering" when you can't show that you purchased the gold from an "approved dealer" (and other variants of the corrupt nonsense known as Civil Asset Forfeiture). I assume physical cash won't exist by that time, at least not in China, Hong Kong, and Singapore. Will be interesting to see how cash is phased out in these banana republics such as the Philippines.

This rally is a short-covering rally, but the justification for the greater fools will be that the contagion will demand another QE. Except this time the Fed will be raising interest rates not doing QE.

http://www.zerohedge.com/news/2015-08-10/gold-silver-are-surging-heavy-volume


Let's see if BTC moves up with gold or if they are anti-correlated on short-term moves. I am fairly certain they are correlated on the general down trend. That is the problem with any straightforward correlation calculation, as there are correlations within the correlations. Hidden order is fractal in chaos theory. Armstrong has a computer correlating all these possible fractal orders. Unfortunately he apparently doesn't have enough historical data on Bitcoin to model it.

This is probably right, since the USD/BTC price works -up until now- like a clockwork. The value projection of the next ATH would've been an interesting thing to calculate, though... I've heard thoughts about $3500/BTC maybe they're not far off.

PS: I know I'm talking about these things while we're on a bear trend, but I remember predicting the $1200 ATH with a friend, during the previous consolidation period with pretty high accuracy, back then. Let's see.

Last post is compliant with Martin Armstrong predictions as far as I understand.

TPTB?

https://thomasdorsey.wordpress.com/2015/08/10/the-continuous-commodity-index-uvy-theodore-modis/

"The continuous commodity index has completed a second S-shaped growth step that began in the 1990s. The downward deviation observed since the beginning of 2011 is arriving at its bottom. The turnaround point is expected between 2-Jan-2016 and 8-Aug-2016. From then onward, an upward trend should peak around 9-Aug-2019."

These are 'objectives' trendlines:

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:pnf_charts:pnf_trendlines

"Trendlines on 3-box Reversal P&F charts are drawn at 45 degrees up and 135 degrees down. An ascending trendline is called a Bullish Support Line and a descending trendline is called a Bearish Resistance Line. Because these lines are drawn at specific angles, they represent a specific rate of ascent or descent. Chartists can use P&F trendlines to define the overall trend and look for signals in the direction of that trend."

EDIT: Of course you can draw 'subjective' ones too, like the purple one in the last chart I posted...

KLee, excuse the probably ignorant observation, but your chart above has 45 degree angles, but isnt that a feature of the "candlesticks" you're using? I mean, you'll always have 45 degree angles...

Here is the HL with a 2$ box size:



Bullish signal (triple top break) reversed almost at the resistance from 316 and subjective support broken.
Support 254, 240 (the previous double bottoms). Bearish support line 254-256.

More sensitive chart - gives bigger returns with higher risk.

I do believe BTC will make new all time highs 2017 or thereafter.

Yes.. As long as we stay above the thick red bear resistance it is considered bearish. So I am yes.

BTW what is the status with the golden cross & cup handle? Are they technically over?

Yeah I agree. Problem with P&F though is there is no way to catch the bottom, actually it is quite the opposite. So you have to consider other tools like you say. Personally I will wait to see 1d RSI below 30 to enter again long term OR a big Os column (>20) that it will reverse. This is a long tail down reversal:

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:pnf_alerts#long_tail_down_reversal

When we fell down to 168$ in the 4$ box HL, the reversal was at 180... I bought & sold at 198 lol. What an idiot...