Rally is starting - page 5. | Bitcointalksearch.org

enmaku

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Quote from: grod on October 02, 2011, 01:48:37 PM

Quote from: worldinacoin on October 02, 2011, 03:32:58 AM

I don't see any rally, bitcoin is just above $5, though I must say that the bitcoin has been relatively stable of late.

That's Elliot waves for you. Early on I noticed the rally/consolidate/flatline/drop cycle repeated over and over and over. A long "stable" period at the same (or slightly decreasing) price makes me nervous.

Of course the timespans in which the waves complete seems to increase logarithmically/exponentially so it makes sense that this flatline should last longer than the ones which preceded it. If BTC ever does see use as common currency it will likely be within extremely long flatline periods so it's probably a good thing to see log/exp increases in the cycle length.

ineededausername

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Right now, if you look at the charts, we have a quadruple bottom (!!!) forming, with volume going steadily down and successively smaller highs. What does everyone make of this?

grod

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Quote from: worldinacoin on October 02, 2011, 03:32:58 AM

I don't see any rally, bitcoin is just above $5, though I must say that the bitcoin has been relatively stable of late.

That's Elliot waves for you. Early on I noticed the rally/consolidate/flatline/drop cycle repeated over and over and over. A long "stable" period at the same (or slightly decreasing) price makes me nervous.

worldinacoin

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I don't see any rally, bitcoin is just above $5, though I must say that the bitcoin has been relatively stable of late.

S3052

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cycles come and go. there will be a time when tuesdays and sundays will be very different

grod

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Quote from: osmosis on October 01, 2011, 05:44:16 PM

Quote from: grod on October 01, 2011, 04:09:51 PM

A quick bubble to 20 (or hell, even 15) would be awesome. We'd see another immense growth in hash rate, and another slow crash. I won't need too many cycles like that to turn my bitcoin pocket change into enough dollars to ... not be invested in bitcoin.

grod, don't wait. Sell now.

I typically sell on sunday nights and tuesday evenings. Have been every week (except the time I missed one at $8) since $24. Pains me to dump at $5, but it also pained me at 6, 7, 8, 9, 10, 11, 13... You get the picture.

I'll "buy back" (through mining of course) once I see a sustained up trend.

osmosis

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Quote from: grod on October 01, 2011, 04:09:51 PM

A quick bubble to 20 (or hell, even 15) would be awesome. We'd see another immense growth in hash rate, and another slow crash. I won't need too many cycles like that to turn my bitcoin pocket change into enough dollars to ... not be invested in bitcoin.

grod, don't wait. Sell now.

ineededausername

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Quote from: grod on October 01, 2011, 04:09:51 PM

Quote from: osmosis on October 01, 2011, 02:54:08 PM

The biggest thing in my opinion that is going to make the price go up quickly is that as soon is we get some "market confirmation" all the sharks who sold out for a drop in price back at 15 will be buying back at 6 - 7. Seems to me a large part of the market is just people sitting out, getting ready to jump back in. I think that will take us past 20. Just my guessing though.

A quick bubble to 20 (or hell, even 15) would be awesome. We'd see another immense growth in hash rate, and another slow crash. I won't need too many cycles like that to turn my bitcoin pocket change into enough dollars to ... not be invested in bitcoin.

We already had people buying back at 6... except someone with 10k coins stopped it instantly Sad

grod

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Quote from: osmosis on October 01, 2011, 02:54:08 PM

The biggest thing in my opinion that is going to make the price go up quickly is that as soon is we get some "market confirmation" all the sharks who sold out for a drop in price back at 15 will be buying back at 6 - 7. Seems to me a large part of the market is just people sitting out, getting ready to jump back in. I think that will take us past 20. Just my guessing though.

A quick bubble to 20 (or hell, even 15) would be awesome. We'd see another immense growth in hash rate, and another slow crash. I won't need too many cycles like that to turn my bitcoin pocket change into enough dollars to ... not be invested in bitcoin.

osmosis

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Quote from: Cluster2k on October 01, 2011, 03:19:56 AM

Someone (or some persons) have repeatedly tried to start a rally by initiating a buying frenzy. No news about new innovative bitcoin products that people want to use, no major retailers taking up bitcoins, nothing to support the rally. The smart money sees through the hype and knows when to take advantage of the situation. If I'm wrong then all the low Asks will be pulled much higher and stay there the next time someone decides to get frisky with their trading.

The biggest thing in my opinion that is going to make the price go up quickly is that as soon is we get some "market confirmation" all the sharks who sold out for a drop in price back at 15 will be buying back at 6 - 7. Seems to me a large part of the market is just people sitting out, getting ready to jump back in. I think that will take us past 20. Just my guessing though.

osmosis

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I still remember back at 15, "Future looks bright for bitcoin!" ooops.

Spekulatius

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Quote from: NamelessOne on October 01, 2011, 07:58:22 AM

I tend to find that S3052 does an amazing job of predicting. People make jokes about tea leaves, but for the last couple months nearly every major movement has been stated ahead of time. At first I didn't know what to make of it, but I researched TA, and started paying close attention. I signed up for the subscription and found it has been worth it.

Chart analysis works for me as well. Of course, you have to know what you are doing..

NamelessOne

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I tend to find that S3052 does an amazing job of predicting. People make jokes about tea leaves, but for the last couple months nearly every major movement has been stated ahead of time. At first I didn't know what to make of it, but I researched TA, and started paying close attention. I signed up for the subscription and found it has been worth it.

anu

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RepuX - Enterprise Blockchain Protocol

Quote from: Cluster2k on October 01, 2011, 03:19:56 AM

No news about new innovative bitcoin products that people want to use, no major retailers taking up bitcoins, nothing to support the rally.

Why would only an obvious connection be able to cause a rally? Bitcoin capitalization at present is around 35 Million - that's just 0+Epsilon

Rumors that Greece is returning to Drachme can do it any day now (I am really wondering how the Greek can be so thick as to leave their Euros in a bank account within grasp of the Greek government)
Bitcoin adoption in Cambodia can do it (remember, Cambodia does not have a national currency that is worth the name, but Java capable cell phones are ubiquitous in Cambodia)
Any billionaire deciding to add a tiny number of Bitcoins to his portfolio as a hedge can cause it
Even normal growth of the bitcoin economy could cause a rally at some point

I agree that BTC going down much further would be ridiculous, but there are thousands of non-obvious reasons it can be at EUR 100 by the end of the year. Or still at 3.70.

Cluster2k

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Quote from: S3052 on October 01, 2011, 03:26:37 AM

Quote from: SgtSpike on October 01, 2011, 03:17:26 AM

Quote from: S3052 on October 01, 2011, 02:51:19 AM

Quote from: Cluster2k on October 01, 2011, 01:03:28 AM

Quote from: NamelessOne on September 30, 2011, 11:00:43 PM

I think it will keep going up, but it shot up so fast I think a lot of people just on board the sell bandwagon. Rather then panic buying, people started selling to take advantage of the sudden spike. Hopefully it shall continue its climb, and/or have a less sudden spike like rally.

I attack any spike with sells simply because the spikes do not last. I'm sure others do the same. If you know the price isn't going to hold but you can make a tidy profit, you take what you can.

It is normal in a bottom forming process to give many false signals and kick out the weak hands, like you

What is a "bottom forming process"?

Look for example on the USD index botton forming recently. It was a long process of ups and downs until finally it shot up.

The thing about looking at graphs and trying to predict the future is you can only do it after its happened, by which time it's too late to trade. Using the example graph, the US dollar is like the least ugly girl still available at the school formal. She's the best choice of a bad bunch. The other currency rocketing up in value right now is the Japanese Yen, a currency issued by the most indebted first world government in the world (GDP ratio wise) with a rapidly aging population and one which would be instantly bankrupt if they didn't rely on their own citizens to buy out the debt and pay very low interest rates.

Bitcoin could well be forming a 'bottom'. People have said 'it can't go much lower!' for the past few months but I agree that much below $5 would be getting a bit silly. The question is, is there anything to push us up to $10, $20 and beyond? There are moves to make payment for goods via bitcoin enabled mobile phones available, but the idea is one converts the bitcoins to dollars as soon as possible. Merchants aren't currency traders and generally don't want to take on the risk. I have yet to see an honest idea that truly signals bitcoins are poised to head much higher.

S3052

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Quote from: SgtSpike on October 01, 2011, 03:17:26 AM

Quote from: S3052 on October 01, 2011, 02:51:19 AM

Quote from: Cluster2k on October 01, 2011, 01:03:28 AM

Quote from: NamelessOne on September 30, 2011, 11:00:43 PM

I think it will keep going up, but it shot up so fast I think a lot of people just on board the sell bandwagon. Rather then panic buying, people started selling to take advantage of the sudden spike. Hopefully it shall continue its climb, and/or have a less sudden spike like rally.

I attack any spike with sells simply because the spikes do not last. I'm sure others do the same. If you know the price isn't going to hold but you can make a tidy profit, you take what you can.

It is normal in a bottom forming process to give many false signals and kick out the weak hands, like you

What is a "bottom forming process"?

Look for example on the USD index botton forming recently. It was a long process of ups and downs until finally it shot up.

Cluster2k

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Quote from: SgtSpike on October 01, 2011, 03:17:26 AM

Quote from: S3052 on October 01, 2011, 02:51:19 AM

Quote from: Cluster2k on October 01, 2011, 01:03:28 AM

Quote from: NamelessOne on September 30, 2011, 11:00:43 PM

I think it will keep going up, but it shot up so fast I think a lot of people just on board the sell bandwagon. Rather then panic buying, people started selling to take advantage of the sudden spike. Hopefully it shall continue its climb, and/or have a less sudden spike like rally.

I attack any spike with sells simply because the spikes do not last. I'm sure others do the same. If you know the price isn't going to hold but you can make a tidy profit, you take what you can.

It is normal in a bottom forming process to give many false signals and kick out the weak hands, like you

What is a "bottom forming process"?

It's someone sitting at McDonald's sucking down Quarter Pounders like they're going out of style. Their bottom is forming quite nicely Cheesy

TiagoTiago

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Firstbits.com/1fg4i :)

Quote from: SgtSpike on October 01, 2011, 03:17:26 AM

What is a "bottom forming process"?

Squats

Cluster2k

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Quote from: S3052 on October 01, 2011, 02:51:19 AM

Quote from: Cluster2k on October 01, 2011, 01:03:28 AM

Quote from: NamelessOne on September 30, 2011, 11:00:43 PM

I think it will keep going up, but it shot up so fast I think a lot of people just on board the sell bandwagon. Rather then panic buying, people started selling to take advantage of the sudden spike. Hopefully it shall continue its climb, and/or have a less sudden spike like rally.

I attack any spike with sells simply because the spikes do not last. I'm sure others do the same. If you know the price isn't going to hold but you can make a tidy profit, you take what you can.

It is normal in a bottom forming process to give many false signals and kick out the weak hands, like you

Someone (or some persons) have repeatedly tried to start a rally by initiating a buying frenzy. No news about new innovative bitcoin products that people want to use, no major retailers taking up bitcoins, nothing to support the rally. The smart money sees through the hype and knows when to take advantage of the situation. If I'm wrong then all the low Asks will be pulled much higher and stay there the next time someone decides to get frisky with their trading.

SgtSpike

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Quote from: S3052 on October 01, 2011, 02:51:19 AM

Quote from: Cluster2k on October 01, 2011, 01:03:28 AM

Quote from: NamelessOne on September 30, 2011, 11:00:43 PM

I think it will keep going up, but it shot up so fast I think a lot of people just on board the sell bandwagon. Rather then panic buying, people started selling to take advantage of the sudden spike. Hopefully it shall continue its climb, and/or have a less sudden spike like rally.

I attack any spike with sells simply because the spikes do not last. I'm sure others do the same. If you know the price isn't going to hold but you can make a tidy profit, you take what you can.

It is normal in a bottom forming process to give many false signals and kick out the weak hands, like you

What is a "bottom forming process"?

Topic: Rally is starting - page 5. (Read 13476 times)