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Topic: the running of the bulls - page 2. (Read 3192 times)

legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
April 17, 2013, 08:22:08 AM
#8
I hope you're right but it doesn't look that way. It's more likely that we keep bouncing as we head gradually down. Just like the last crash it will take months before we really recover.

Yeah, but last crash you couldn't buy MetART with Bitcoins. Finally, PORN FOR COIN!
sr. member
Activity: 448
Merit: 250
this statement is false
April 17, 2013, 07:27:46 AM
#7
Yeah, I extrapolating that line also, figured we'd be in the 80s for a number of hours. It has been hitting and climbing that moving support like a staircase for over a day now with no trouble at all. It look a jump up to the 80s and I'd imagine when it lands on the support it'll continue its climb.

that's what just happened. the selling pressure is immense but we're resting delicately on that moving support. i'm really confident in this market, the bid side is showing a lot of strength for the first time in weeks.
legendary
Activity: 840
Merit: 1000
April 17, 2013, 07:25:36 AM
#6
Yeah, I extrapolating that line also, figured we'd be in the 80s for a number of hours. It has been hitting and climbing that moving support like a staircase for over a day now with no trouble at all. It look a jump up to the 80s and I'd imagine when it lands on the support it'll continue its climb.
sr. member
Activity: 448
Merit: 250
this statement is false
April 17, 2013, 07:18:47 AM
#5
if we extrapolate the moving support...

-===-



-===-

... it seems if we don't move out of this range in 5 hours we'll collide with it, and then the market must decide.
sr. member
Activity: 448
Merit: 250
this statement is false
April 17, 2013, 06:59:50 AM
#4
babby's first rally, a photo album:

-===-



=



=



-===-

... the last picture being the most recent.

i've heavily annotated this last one to point out some evidence for the OP's prediction. the white line in each of the images is the moving support.

the PVT  in the OP shows a different triangle formation than the price, though. the yellow line in the last image indicates the top of the price triangle, the purple line demonstrates the falling volume, and the yellow circle appears to show a bullish breakout.

so the price has already 'broken out' of the smaller triangle formation, and is now struggling to make the bigger, more important move which would break its PVT out of the mid-term downtrend.

hero member
Activity: 728
Merit: 500
April 17, 2013, 06:57:56 AM
#3
I hope you're right but it doesn't look that way. It's more likely that we keep bouncing as we head gradually down. Just like the last crash it will take months before we really recover.
newbie
Activity: 56
Merit: 0
April 17, 2013, 06:57:45 AM
#2
Tick, tock...

Tom, Dick and Harry all want bitcoins and they ain't got none (yet).
sr. member
Activity: 448
Merit: 250
this statement is false
April 17, 2013, 06:50:41 AM
#1
while we definitely are still in a medium-term downtrend, it seems like the volatility left in the wake of the monster knife is enough stage for a mini-rally. from a zoomed-out view it looks like a bulltrap, BUT, on the 30-min scale we are incredibly oversold.

based on the PVT:

-===-



-===-

... it seems we are on the verge of a very important breakout. the bid side looks deep, obviously encouraged by mr M's fat $70 wall, and the indicators are temporarily bullish. i think we're going up in a big way, at least to $100.

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