rpietila Wall Observer - the Quality TA Thread ;) - page 39.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: molecular on July 18, 2015, 05:26:22 AM

I spotted potential cup & handle pattern on daily chart:

Here are some criteria and notes taken from http://www.investopedia.com/university/charts/charts3.asp

This is a bullish continuation pattern where the upward trend has paused, and traded down, but will continue in an upward direction upon the completion of the pattern.
First, it's important that there is an upward trend before the formation of the cup and handle.<- check
The construct of the cup itself is also important: it should be a nicely rounded formation, similar to a semi-circle <- check?.
The reason is that a cup-and-handle pattern is a signal of consolidation within a trend, where the weaker investors leave the market and new buyers and resolute holders stay in the security <- fundamentally plausible

a traditional cup-and-handle pattern should be between one-third and two-thirds the size of the previous upward movement <- check
During this downward move, a descending trendline can be drawn, which forms the signal for the breakout. A move by the security above this descending trendline is a signal that the prior upward trend is set to begin <- let's see

How exactly is the red portion satisfied?

"previous upward movement" meaning?

molecular

donator

Activity: 2772

Merit: 1019

I spotted potential cup & handle pattern on daily chart:

Here are some criteria and notes taken from http://www.investopedia.com/university/charts/charts3.asp

This is a bullish continuation pattern where the upward trend has paused, and traded down, but will continue in an upward direction upon the completion of the pattern.
First, it's important that there is an upward trend before the formation of the cup and handle.<- check
The construct of the cup itself is also important: it should be a nicely rounded formation, similar to a semi-circle <- check?.
The reason is that a cup-and-handle pattern is a signal of consolidation within a trend, where the weaker investors leave the market and new buyers and resolute holders stay in the security <- fundamentally plausible
a traditional cup-and-handle pattern should be between one-third and two-thirds the size of the previous upward movement <- check
During this downward move, a descending trendline can be drawn, which forms the signal for the breakout. A move by the security above this descending trendline is a signal that the prior upward trend is set to begin <- let's see

pinky

hero member

Activity: 538

Merit: 500

Quote from: Wexlike on July 13, 2015, 04:53:01 PM

XMR is not going anywhere with just one exchange, which even went full KYC.

What are you talking about? Last I checked there were 4 exchanges, but Poloniex is dominating. Poloniex is not exactly full KYC. There are also other ways to buy/sell XMR (shapeshift, otc) without KYC or AML.

More exchanges would help with visibility, but this is not price guarantee. XMR is doing very good with just one central exchange, well at least better than 500 other coins (some of them are listed on more than 20 exchanges and they are still worth almost 0).

XMR is currency and far more important than exchanges is actual demand and it's use in the real world commerce. This whole mentality that exchanges are the single most important factor is just idiotic. Bitcoin would still be at $0.01 without certain commerce sites. Translation to Chinese and other languages, active code development and active users are far more important than adding XMR to some crapy exchange.

Wexlike

legendary

Activity: 1473

Merit: 1086

Quote from: SmoothCurves on July 13, 2015, 02:53:10 PM

Quote from: rpietila on July 12, 2015, 02:34:26 PM

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

I think it's been stated elsewhere that a good way of valuing XMR is as a percentage of BTC. Subsequent XMR rallies should take it to: .01, .1 and beyond. Maybe we can get an idea of what the endgame looks like by comparing amount of money in off-shore/tax haven accts vs taxed accounts?

XMR is not going anywhere with just one exchange, which even went full KYC.

SmoothCurves

sr. member

Activity: 379

Merit: 250

Quote from: rpietila on July 12, 2015, 02:34:26 PM

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

I think it's been stated elsewhere that a good way of valuing XMR is as a percentage of BTC. Subsequent XMR rallies should take it to: .01, .1 and beyond. Maybe we can get an idea of what the endgame looks like by comparing amount of money in off-shore/tax haven accts vs taxed accounts?

SmoothCurves

sr. member

Activity: 379

Merit: 250

Quote from: rjclarke2000 on July 12, 2015, 04:13:39 PM

Quote from: rpietila on July 12, 2015, 02:34:26 PM

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

If BTC hits 1m I will be richer than anyone I've ever met. I struggle to comprehend this.

I wish I could say the same thing. I've met Elon Musk and other Billionaires.

yefi

legendary

Activity: 2842

Merit: 1511

Quote from: cbeast on July 13, 2015, 06:16:17 AM

But you know it doesn't work that way. The cock is pumped by the hand of greed, the elbow of fear, and the shoulder of time.

Great analogy, though may I suggest my ribald improvement? Tongue

jehst

hero member

Activity: 798

Merit: 1000

21 million. I want them all.

Quote from: cbeast on July 13, 2015, 06:16:17 AM

Quote from: molecular on July 12, 2015, 04:44:29 PM

Quote from: rjclarke2000 on July 12, 2015, 04:28:13 PM

People are worrying that a $50 increase is too fast during the recent pump and this supposedly means it'll correct.

How can btc increase on a large scale without big increases? I'll be 200 years old if we have slow steady growth from now until glorious wealth and security.

How can something increase in value without causing instability in the market?

If it climbs 10% every week it wont take 200 years.

But you know it doesn't work that way. The spring is wound by the hand of greed, the elbow of fear, and the shoulder of time.

Right. Look at the history of bitcoin and every altcoin. There is no example of a nice steady uptrend.

Typical bitcoin price action would be another 8 months of sub-350 prices and then an absurd eight weeks of consecutive green straight to 2000+. That's not my prediction. It just would be the kind of price action that's normal in this world.

cbeast

donator

Activity: 1736

Merit: 1010

Let's talk governance, lipstick, and pigs.

Quote from: molecular on July 12, 2015, 04:44:29 PM

Quote from: rjclarke2000 on July 12, 2015, 04:28:13 PM

People are worrying that a $50 increase is too fast during the recent pump and this supposedly means it'll correct.

How can btc increase on a large scale without big increases? I'll be 200 years old if we have slow steady growth from now until glorious wealth and security.

How can something increase in value without causing instability in the market?

If it climbs 10% every week it wont take 200 years.

But you know it doesn't work that way. The spring is wound by the hand of greed, the elbow of fear, and the shoulder of time.

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: rjclarke2000 on July 12, 2015, 04:13:39 PM

Quote from: rpietila on July 12, 2015, 02:34:26 PM

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

If BTC hits 1m I will be richer than anyone I've ever met. I struggle to comprehend this.

I feel your pain

conspirosphere.tk

legendary

Activity: 2352

Merit: 1064

Bitcoin is antisemitic

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Let's assume that the banksters want to officially hint that BTC will be made an international settlement currency (perhaps for real, perhaps as a trap). This will raise the price to $1 million per BTC (it's still smaller than USD). There are 100-500k people who hold BTC1 or more, and are made millionaires by this decree. If history is any guide, the banksters want to steal 100% of the gains that are supposedly created by the decree, leaving nothing for the risk carried by the speculator. Then you would be required to sell your BTC to the banksters for $1k or so, or they would be made illegal. (Yes, I know there is no point whatsoever from the user's perspective in such a monetary system, but then again that applies to the current one as well, and does not stop them from forcing it on us.)

In that case I would use some coins to buy real stuff in some safe place (i.e. not bankrupt/failed state), and/or convert some coins in wheelbarrows of fiat directly there, and buy some phyzz for btc to be on the safe side. Problem solved. The world is still much differentiated, luckily.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: rjclarke2000 on July 12, 2015, 04:28:13 PM

People are worrying that a $50 increase is too fast during the recent pump and this supposedly means it'll correct.

How can btc increase on a large scale without big increases? I'll be 200 years old if we have slow steady growth from now until glorious wealth and security.

How can something increase in value without causing instability in the market?

If it climbs 10% every week it wont take 200 years.

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

Quote from: rjclarke2000 on July 12, 2015, 04:28:13 PM

People are worrying that a $50 increase is too fast during the recent pump and this supposedly means it'll correct.

How can btc increase on a large scale without big increases? I'll be 200 years old if we have slow steady growth from now until glorious wealth and security.

How can something increase in value without causing instability in the market?

If it grows steadily 2 % per day (yes - this is steady in bitcoin or Monero), in 1 year you have pretty high growth behind.
Personally I like Monero as it has potential to grow even against bitcoin.
I own both but I tend to like owning Monero more as I consider it as a "leverage" price increase to bitcoin's price increase.

rjclarke2000

legendary

Activity: 1358

Merit: 1016

People are worrying that a $50 increase is too fast during the recent pump and this supposedly means it'll correct.

How can btc increase on a large scale without big increases? I'll be 200 years old if we have slow steady growth from now until glorious wealth and security.

How can something increase in value without causing instability in the market?

macsga

legendary

Activity: 1484

Merit: 1002

Strange, yet attractive.

Quote from: jehst on July 12, 2015, 04:18:08 PM

Quote from: rjclarke2000 on July 12, 2015, 04:13:39 PM

Quote from: rpietila on July 12, 2015, 02:34:26 PM

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

If BTC hits 1m I will be richer than anyone I've ever met. I struggle to comprehend this.

Then a lot of your friends are going to be asking to borrow money

Good thing with BTC (& XMR) is that they may never have to find out if you don't want them to. This is far better than losing all your friends over wealth.

jehst

hero member

Activity: 798

Merit: 1000

21 million. I want them all.

Quote from: rjclarke2000 on July 12, 2015, 04:13:39 PM

Quote from: rpietila on July 12, 2015, 02:34:26 PM

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

If BTC hits 1m I will be richer than anyone I've ever met. I struggle to comprehend this.

Then a lot of your friends are going to be asking to borrow money

rjclarke2000

legendary

Activity: 1358

Merit: 1016

Quote from: rpietila on July 12, 2015, 02:34:26 PM

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

If BTC hits 1m I will be richer than anyone I've ever met. I struggle to comprehend this.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: molecular on July 12, 2015, 02:33:40 PM

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

Now, yes.

When BTC hits $1Million, probably not.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: rpietila on July 12, 2015, 01:33:20 PM

Or people have made their sidebet on Monero when it still was cheap Grin

hm? It's not cheap any more?

rpietila

donator

Activity: 1722

Merit: 1036

You are too young. When dollar was devalued in the U.S. during the 1900s, the IRS instituted special penalty taxes on the supposed "gain" that you could have made by holding silver and gold instead of fiat paper. They wanted to tax everybody equally so gold was declared illegal unless you sold it to the govt for $20 per ounce (it was revalued at $35, for the 40% wealth tax) and later same kind happened to silver.

Let's assume that the banksters want to officially hint that BTC will be made an international settlement currency (perhaps for real, perhaps as a trap). This will raise the price to $1 million per BTC (it's still smaller than USD). There are 100-500k people who hold BTC1 or more, and are made millionaires by this decree. If history is any guide, the banksters want to steal 100% of the gains that are supposedly created by the decree, leaving nothing for the risk carried by the speculator. Then you would be required to sell your BTC to the banksters for $1k or so, or they would be made illegal. (Yes, I know there is no point whatsoever from the user's perspective in such a monetary system, but then again that applies to the current one as well, and does not stop them from forcing it on us.)

Hopefully they have accumulated enough during the downturn that this won't be implemented Wink

Or people have made their sidebet on Monero when it still was cheap Grin

Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 39. (Read 907212 times)