My 2H-volume based technical trading algorithm made a call this morning. Switched from BEAR to BULL.
It had been a BEAR since 2014-4-16, at the price of $515.
I think it is about time for the rest of us to switch to bulls also. The risk/reward ratio from being a bear in these circumstances is declining rapidly.
It is possible that the deck was arranged for a dip last weekend (I also noticed it in the charts and warned you). But since nobody panicked, some of the players took action on the greener side.
I tried to send a longer treatise on the possible developments in price yesterday, but since I was on a cruise ship, the internet didn't work properly. I think I'll scrap that one, because of the indicator going long, and good news just cascading on the face of price being -60% below trend. So now I advice to buy for all timeframes from 1 month to long term.
Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 196. (Read 907229 times)
This could be the long awaited breakout. 6 hour resolution on Bitstamp. Another week or so above the resistance trendline would be good.
you think so? This little price jump is nice, but I think everyone may be overreacting, just because the market has been so flat as of late...
What is significant about the price jump is that it went through the resistance trendline. Every single previous price jump since the November 2013 peak has failed to do so. This is the first one. If it simply goes back down to 430 or so, then who cares. But if the Bitstamp price can stay above the trendline for a significant period of time - that is important.
According to my logistic model, prices need to climb almost $10 daily to stay parallel to the long term up trend.
Ok, now that makes good sense, thanks!
This could be the long awaited breakout. 6 hour resolution on Bitstamp. Another week or so above the resistance trendline would be good.
you think so? This little price jump is nice, but I think everyone may be overreacting, just because the market has been so flat as of late...
What is significant about the price jump is that it went through the resistance trendline. Every single previous price jump since the November 2013 peak has failed to do so. This is the first one. If it simply goes back down to 430 or so, then who cares. But if the Bitstamp price can stay above the trendline for a significant period of time - that is important.
According to my logistic model, prices need to climb almost $10 daily to stay parallel to the long term up trend.
This could be the long awaited breakout. 6 hour resolution on Bitstamp. Another week or so above the resistance trendline would be good.
you think so? This little price jump is nice, but I think everyone may be overreacting, just because the market has been so flat as of late...
This could be the long awaited breakout. 6 hour resolution on Bitstamp. Another week or so above the resistance trendline would be good.
I am liking MRO more and more. Definitely needs some work, but the privacy is much superior to any alternative. Market seems to like privacy too.
While a retest of 339.79 USD or maybe even 260 USD is within the realm of possibilities as a risk of being long, I see the risk for a short in this market is way higher. This market could also very easily run away to the 5000 USD range or even higher. This is simply a steady build-up of "good news" with very little impact on price, combined with a very tired bear. Anything could all of a sudden set the bulls off on a run. This has happened before with Bitcoin.
This is why I closed all my shorts. I don't see another bubble for a long time off, but an intermediate bull run into the 600s is possible. And, yes, really bad news would send this puppy crashing down to 340 and maybe below, but there is no guarantee that really bad news is going to happen. Right now the market is buying time for more fundamental developments and new exchanges to open. So I am about as neutral as one could be at this point.
339? 260??
I would love to get some coins at that price but it seems very improbable. We would need really catastrophic news to dip like that.
Im ready to bet with some of you that we don´t test <360 in the next 30 days.
I would love to get some coins at that price but it seems very improbable. We would need really catastrophic news to dip like that.
Im ready to bet with some of you that we don´t test <360 in the next 30 days.
Funny, we've had a steady onslaught of good news the past month. And yet bulls have done zilch and are nowhere to be seen. Why do you think that is?
Catastrophic news could simply catalyze the move.
339? 260??
I would love to get some coins at that price but it seems very improbable. We would need really catastrophic news to dip like that.
Im ready to bet with some of you that we don´t test <360 in the next 30 days.
I would love to get some coins at that price but it seems very improbable. We would need really catastrophic news to dip like that.
Im ready to bet with some of you that we don´t test <360 in the next 30 days.
While a retest of 339.79 USD or maybe even 260 USD is within the realm of possibilities as a risk of being long, I see the risk for a short in this market is way higher. This market could also very easily run away to the 5000 USD range or even higher. This is simply a steady build-up of "good news" with very little impact on price, combined with a very tired bear. Anything could all of a sudden set the bulls off on a run. This has happened before with Bitcoin.
Probably are better odds of crashing to 350 than jumping it above 800.
I tend to agree with this. seems difficult to base a rally from here. not impossible, obviously. but moving averages show downtrend firmly intact presently. i think 300s are more likely than a strong rally from 450.
I plan to load up the boat at 300 level or so. Could dip to 260-270 but below that unlikely I think. No way I can go long yet though!!!
It is always good to have a "plan B" just in case.
True. I am sort of in the same boat, but if we break 480 convincingly with some volume, I'll probably get my longs in!
Probably are better odds of crashing to 350 than jumping it above 800.
I tend to agree with this. seems difficult to base a rally from here. not impossible, obviously. but moving averages show downtrend firmly intact presently. i think 300s are more likely than a strong rally from 450.
I plan to load up the boat at 300 level or so. Could dip to 260-270 but below that unlikely I think. No way I can go long yet though!!!
It is always good to have a "plan B" just in case.
Probably are better odds of crashing to 350 than jumping it above 800.
I tend to agree with this. seems difficult to base a rally from here. not impossible, obviously. but moving averages show downtrend firmly intact presently. i think 300s are more likely than a strong rally from 450.
I plan to load up the boat at 300 level or so. Could dip to 260-270 but below that unlikely I think. No way I can go long yet though!!!
Probably are better odds of crashing to 350 than jumping it above 800.
I tend to agree with this. seems difficult to base a rally from here. not impossible, obviously. but moving averages show downtrend firmly intact presently. i think 300s are more likely than a strong rally from 450.
Probably are better odds of crashing to 350 than jumping it above 800.
Trolls congratulating each other for wisdom. Priceless
=> Since this is a self-moderated thread, I have the authority to respectfully ask you to not post here anymore. Thank you and begone.
I just noticed the last jump in difficulty was the smallest one, 10%, since the July Capitulation.
https://blockchain.info/en/charts/difficulty?timespan=2year&showDataPoints=false&daysAverageString=1&show_header=true&scale=1&address=
https://blockchain.info/en/charts/difficulty?timespan=2year&showDataPoints=false&daysAverageString=1&show_header=true&scale=1&address=
This is probably the most interesting thread in btt.
Let´s keep it cool. Don´t feed the trolls. Better ignore them as I do.
That ignore button can save you a lot of time
Let´s keep it cool. Don´t feed the trolls. Better ignore them as I do.
That ignore button can save you a lot of time
You guys should listen to rpietila, sell now and buy more coins for less, his predictions are the best ones around here. Even me - the retard with half brain can see the next crash to 350 coming in few days, dont let your pride be your doom.
The last I heard from rpietila was that he is now a bull and recommends people to buy at current prices because the upside risk is getting too high. And his predictions are far from the best around here, he's simply relying on the long term logarithmic trend and when we are too far above it he turns bear and when we are far below it he turns bull. It's a simple system and it works as long as that trendline remains intact. So let's just be realistic and not make people out to be some kind of prophet around here, nobody really knows what's going to happen.
You guys should listen to rpietila, sell now and buy more coins for less, his predictions are the best ones around here. Even me - the retard with half brain can see the next crash to 350 coming in few days, dont let your pride be your doom.
Did I miss something?? Where and when did rpietila say sell?
The Last month or so I have been fowling his TA its been buy, buy buy and Bottom had been reached last month..And speaking of rpietila, Will he be doing a TA soon? Its been a while and Seems like this thread is starting to attract trolls and FUD and BS..
Opinion thats different from TO DA MOON == FUD around here? Ok, welcome to Ignore list :3
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