Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17962. (Read 26708969 times)

Same old same old. Big pump. Big dump.

History repeats itself yet again. So what now? A few dead cat bounces and back down to $600 by June?

See you next winter for our annual pump.

Whenever you are feeling blue about the Bitcoin market vs. other financial markets, just read a few of these articles and you will feel a whole lot better:

http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425

http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/

They can't rig what they don't control.  At least not yet. 

I use chicken bones, they're pretty good indictator - they tell me anything can happen. Usually.  Very reliable.

WTF is the point of the squiggly line indicator if all it tells you is that anything can happen?

IDK, I don't believe in those magic lines..

Mini triangle breakout,  rally back on  

This is a good question, one that I have been thinking about.

Vinny Lingham predicts a slow and steady rise to 2k-3k during 2017. His judgement seems as good as anyone's to me. But I agree there's no way in hell we're gonna go slow and steady to 100k, or even 10k. And yes I'm thinking in log axis. Suppose price multiplies by 2.5 x per year. Five years of that would get us to 100k. But can you imagine that actually happening? Once that pattern establishes itself, someone who thinks in terms of years is gonna try to frontrun it and will be willing to buy at a premium, short term traders will see that happening, the price will go parabolic, everyone will know it's day traders responsible for the short term parabolic rise and will try to front-run them cashing out, big crash, and there you have it. So if it's truly going to the moon, I think it's safe to assume that it will be a volatile ride all the way to the top.

Hmm, that gives me an idea on how to model the magnitude of the swings. If you knew how many speculators there are (in terms of how much capital they are working with) and what time frames they are working in (long term investors or "long-termers," minute to minute day traders of "short-termers," and everything in between), and the first people to go long are the long-termers and the last to go long are the short term day traders, with the in between being the in between, then the parabolic rise ends when the progression from long termers to short termers runs out.

Think it means that anything can happen - I dont know if we are in a bull or a bear right now, so just holding tight =)

What does the squiggly line indicator at the bottom of the chart say it's going to do? Does the Ronald big Mac Donald indicator contradict the squiggly line indicator?

Breaks up or down?

A rise of 50% in just a couple of weeks is obv NOT normal, but a drop of 23% just after such a steep rise IS normal.

This is all totally normal...this is all totally normal...this is all totally normal...

A 23% drop is totally normal for Bitcoin. This is all totally normal.

Oh I thought its first major correction is on February. So this means no more bigger setbacks next month then. 

https://i.imgur.com/lQ7u2yg.gif

By the end of January, when the first bagging is over, we will see where we will stand