Steady, ever-increasing support for bitcoin price cointinues (with charts)

Kungfucheez

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Activity: 98

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Quote from: btcprice on January 12, 2014, 01:00:29 AM

Quote from: Kungfucheez on January 12, 2014, 12:08:50 AM

Just because it's rising doesn't mean it won't fall.

I think it will rally above $1000USD myself, but I'm not going to say that if anyone asks me, because I have nothing to base that on, it's just a gut feeling I have.

Nothing's stopping it from dropping though, if that's the way it goes. I'm sure many people thought when the price broke $1200USD that it would continue to $1500, or $2000 or whatever, and instead it crashed by 50%

Correct. I just wanted to see how long this trend line would continue.

It is interesting to watch, no doubt about that.

btcprice

sr. member

Activity: 434

Merit: 250

Quote from: Kungfucheez on January 12, 2014, 12:08:50 AM

Just because it's rising doesn't mean it won't fall.

I think it will rally above $1000USD myself, but I'm not going to say that if anyone asks me, because I have nothing to base that on, it's just a gut feeling I have.

Nothing's stopping it from dropping though, if that's the way it goes. I'm sure many people thought when the price broke $1200USD that it would continue to $1500, or $2000 or whatever, and instead it crashed by 50%

Correct. I just wanted to see how long this trend line would continue.

RenegadeMind

copper member

Activity: 1380

Merit: 504

THINK IT, BUILD IT, PLAY IT! --- XAYA

I'm a bit more positive.

BTC-e with a dev. channel and fib retracement.

Full size: http://imgur.com/MfY4nVb

$900 seems to be an important support/resistance level at BTC-e - for now anyways.

Plotting different points yields similar results.

Kungfucheez

member

Activity: 98

Merit: 10

Just because it's rising doesn't mean it won't fall.

I think it will rally above $1000USD myself, but I'm not going to say that if anyone asks me, because I have nothing to base that on, it's just a gut feeling I have.

Nothing's stopping it from dropping though, if that's the way it goes. I'm sure many people thought when the price broke $1200USD that it would continue to $1500, or $2000 or whatever, and instead it crashed by 50%

btcprice

sr. member

Activity: 434

Merit: 250

Here is the chart showing today's prices:

btcprice

sr. member

Activity: 434

Merit: 250

Wouldn't you know that as soon as I post my second chart above that resistance would be broken. Oh well. I'm still going to track this line since the price rose above it after breaking below the support line (if indeed it is just that). This line continues to the $1000 mark on January 13th which I believe is the same date I called out in the other thread mentioned in the first post of this thread.

I'll post the chart in the next post in this thread so the text doesn't get lost in between the charts.

btcprice

sr. member

Activity: 434

Merit: 250

Quote from: TERA on January 09, 2014, 01:49:25 AM

Quote from: Ducky1 on January 09, 2014, 01:45:47 AM

Quote from: TERA on January 09, 2014, 01:35:29 AM

So according to this chart we reach $100,000 before 2015?

Thats your interpretation.

I'm just pointing out a flaw in drawing arbitrary lines on arbitrary scales with no explanation.

I did explain. I mentioned that there was support and also "to see if this support continues". That leaves the possibility of support being removed at some point in the future which also means we don't necessarily continue. I'm sorry but these are elementary principles here. No long-winded ideas. Simple sentences.

T.Stuart

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