We've Reached the Top (Proof Inside)

notthematrix

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@Bitcoin BEAR

Well you mix an bubble for a S-curve

watch this video to explain a S-curve.
so i see at max a small correction but not below the S curve....
http://www.youtube.com/watch?v=qHUPPYzzZrI

A s-curve is a natural phenomenon witch only occur in defined natural spaces , bitcoin is such a defined space,

Bitcoin BEAR

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Quote from: xephyr on November 14, 2013, 04:15:10 PM

There is also a good case to be made that we are still in Elliott Wave 3:

Wave three often extends wave one by a ratio of 1.618:1, so we could be close to the end of wave 3 now. Corrective wave 4 would not overlap wave 1 and is often less than 38% of wave 3, so a correction now from the high of 440 on MtGox would signal a strong buying opportunity between 260-300 USD on MtGox. Then wave 5 would extend the rally past todays' highs.

It's just too bad your wave 1 is actually a wave 3 and we are now nearing either the top of 5 (anywhere here to the moon), or the top of the 1st subwave of 5 in which case, 5 will still go to the moon. But when this tops, <250 is very possible and even (dare I say?) Double digits are also possible. Oh, and use log charts

Edit:

CryptStorm

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Elliot wave theory is junk. ~~I believe that even Elliot admitted as much later in his life.~~ Get out of denial. (Proof inside)

MicroGuy

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Quote from: kireinaha on November 14, 2013, 01:45:07 PM

If you're on the fence about investing, I'd recommend you wait it out a few more days to see what happens.

Hey, nice charts! Yes, wait this out for another week and you can get back in for $250.00! Cheesy

djalexr

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Quote

Bitcoin isn't an investment, it's a network of computers and routers that replaces money.

+1

BitchicksHusband

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Quote from: kireinaha on November 14, 2013, 04:35:40 PM

The Internet isn't an investment, it's a network of computers and routers Roll Eyes

I believe what you're thinking of is the dot com bust of the '90s.

Bitcoin isn't an investment, it's a network of computers and routers that replaces money.

notme

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Quote from: kireinaha on November 14, 2013, 04:34:06 PM

Quote from: xephyr on November 14, 2013, 04:15:10 PM

There is also a good case to be made that we are still in Elliott Wave 3:

Wave three often extends wave one by a ratio of 1.618:1, so we could be close to the end of wave 3 now. Corrective wave 4 would not overlap wave 1 and is often less than 38% of wave 3, so a correction now from the high of 440 on MtGox would signal a strong buying opportunity between 260-300 USD on MtGox. Then wave 5 would extend the rally past todays' highs.

I was only measuring the current bull run that we're on, but if you're right that we're in wave three overall, that would be an unsettling thought, given that the Winklevoss twins believe we should be hitting $40,000 USD value per coin. I don't see how we could reach that if there's only wave 5 left to go.

Wave 5 is not the end. After wave 5 comes the ABC corrective, and then we build a base before continuing with the next wave 1. $40,000 may be be possible, but we won't get there in a straight line.

Xer0

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°^°

Quote from: kireinaha on November 14, 2013, 04:40:06 PM

Quote from: Xer0 on November 14, 2013, 04:36:13 PM

Analysts so: "Chart must follow Theroy X!" ... "No, it should follow by Theory Y!"

and Bitcoin just:

haha, you're right, it is kind of a crapshoot. I just think it's an interesting pattern and the market so far this afternoon has been indicating that we're hitting a lot of resistance around $430. In any case, there should be some bearish forecasts to counteract all the "going to da moon" bull commentary.

yean and every time the market does not give a single fork about what speculators, bulls or bears say Grin

no matter what happens we are "wtf?" every time and still no one had really told the future yet Cheesy

rampantparanoia

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the only time we escape trading boundaries is during the night (in the US), which is mid-day in China.

kireinaha

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Quote from: Xer0 on November 14, 2013, 04:36:13 PM

Analysts so: "Chart must follow Theroy X!" ... "No, it should follow by Theory Y!"

and Bitcoin just:

haha, you're right, it is kind of a crapshoot. I just think it's an interesting pattern and the market so far this afternoon has been indicating that we're hitting a lot of resistance around $430. In any case, there should be some bearish forecasts to counteract all the "going to da moon" bull commentary.

Xer0

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°^°

Analysts so: "Chart must follow Theroy X!" ... "No, it should follow by Theory Y!"

and Bitcoin just:

kireinaha

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Quote from: BitchicksHusband on November 14, 2013, 04:29:46 PM

Quote from: kireinaha on November 14, 2013, 04:07:52 PM

Quote from: superduh on November 14, 2013, 03:50:38 PM

Quote from: ElectricMucus on November 14, 2013, 02:20:54 PM

Quote from: kehtolo on November 14, 2013, 02:03:14 PM

never once in history of humanity there has ever been an asset "Class" that is called bitcoin.

Penny stocks.

thanks for an idiotic response that obviously makes no sense

I don't think that's a fair retort. Bitcoin is a speculation investment right now, much in the same nature as penny stocks. Digital currency itself is new (kind of) but speculation is as old as the hills, and the rise and fall of the current market euphoria we're in will be no different.

I'm still waiting for the "internet" euphoria and fall to happen. Any day now...

The Internet isn't an investment, it's a network of computers and routers Roll Eyes

I believe what you're thinking of is the dot com bust of the '90s.

RodeoX

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The revolution will be monetized!

Speculation is also called guessing and never involves proof. If the future price were provable every one with a calculator would be rich.
I'm not dis-ing you man. But I have seen hundreds of threads like this.

rampantparanoia

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Quote from: BitchicksHusband on November 14, 2013, 04:29:46 PM

I'm still waiting for the "internet" euphoria and fall to happen. Any day now...

it already happened with the invention of Facebook.

kireinaha

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Activity: 350

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Quote from: xephyr on November 14, 2013, 04:15:10 PM

There is also a good case to be made that we are still in Elliott Wave 3:

Wave three often extends wave one by a ratio of 1.618:1, so we could be close to the end of wave 3 now. Corrective wave 4 would not overlap wave 1 and is often less than 38% of wave 3, so a correction now from the high of 440 on MtGox would signal a strong buying opportunity between 260-300 USD on MtGox. Then wave 5 would extend the rally past todays' highs.

I was only measuring the current bull run that we're on, but if you're right that we're in wave three overall, that would be an unsettling thought, given that the Winklevoss twins believe we should be hitting $40,000 USD value per coin. I don't see how we could reach that if there's only wave 5 left to go.

BitchicksHusband

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Quote from: kireinaha on November 14, 2013, 04:07:52 PM

Quote from: superduh on November 14, 2013, 03:50:38 PM

Quote from: ElectricMucus on November 14, 2013, 02:20:54 PM

Quote from: kehtolo on November 14, 2013, 02:03:14 PM

never once in history of humanity there has ever been an asset "Class" that is called bitcoin.

Penny stocks.

thanks for an idiotic response that obviously makes no sense

I don't think that's a fair retort. Bitcoin is a speculation investment right now, much in the same nature as penny stocks. Digital currency itself is new (kind of) but speculation is as old as the hills, and the rise and fall of the current market euphoria we're in will be no different.

I'm still waiting for the "internet" euphoria and fall to happen. Any day now...

superduh

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Activity: 602

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Quote from: kireinaha on November 14, 2013, 04:07:52 PM

Quote from: superduh on November 14, 2013, 03:50:38 PM

Quote from: ElectricMucus on November 14, 2013, 02:20:54 PM

Quote from: kehtolo on November 14, 2013, 02:03:14 PM

never once in history of humanity there has ever been an asset "Class" that is called bitcoin.

Penny stocks.

thanks for an idiotic response that obviously makes no sense

I don't think that's a fair retort. Bitcoin is a speculation investment right now, much in the same nature as penny stocks. Digital currency itself is new (kind of) but speculation is as old as the hills, and the rise and fall of the current market euphoria we're in will be no different.

speculative .....sure - everything in this world is speculative BUT bitcoin is not a "stock" at all. hence why i called it a completely idiotic response.

xephyr

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Activity: 285

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There is also a good case to be made that we are still in Elliott Wave 3:

Wave three often extends wave one by a ratio of 1.618:1, so we could be close to the end of wave 3 now. Corrective wave 4 would not overlap wave 1 and is often less than 38% of wave 3, so a correction now from the high of 440 on MtGox would signal a strong buying opportunity between 260-300 USD on MtGox. Then wave 5 would extend the rally past todays' highs.

kireinaha

sr. member

Activity: 350

Merit: 253

Quote from: superduh on November 14, 2013, 03:50:38 PM

Quote from: ElectricMucus on November 14, 2013, 02:20:54 PM

Quote from: kehtolo on November 14, 2013, 02:03:14 PM

never once in history of humanity there has ever been an asset "Class" that is called bitcoin.

Penny stocks.

thanks for an idiotic response that obviously makes no sense

I don't think that's a fair retort. Bitcoin is a speculation investment right now, much in the same nature as penny stocks. Digital currency itself is new (kind of) but speculation is as old as the hills, and the rise and fall of the current market euphoria we're in will be no different.

superduh

hero member

Activity: 602

Merit: 500

Quote from: proudhon on November 14, 2013, 02:42:49 PM

Among the lessons I've learned as I've watched the bitcoin market since early 2011: Elliot Wave Theory is bullshit.

go proundhound! ultra bull Cheesy

Topic: We've Reached the Top (Proof Inside) (Read 3417 times)