Bitcoin Forum

so it seems many bulls still have their fingers in their ears, but --

as long as you know we're just playing musical chairs, and you are comfortable with that, let's take a look at the picture:

http://s1.postimg.org/dhwcb2byn/bullishwedge.png

just a small correction to the new trend. the bullish wedge formation forms as a consolidation pattern in a bull run, where the market drops slowly on low volume to find the support.

how high are we going, everyone?

i'm on the sidelines now. not for the weak of heart.
it will settle, somewhere and then i will look more into it.
now, it's just gambling
but, i do like the graph.
it seems like the last 24 hours had more volume than during/after the crash.
good thing or bad? + who knows how many people are buying and selling back and forth to each other

too small interval for wedge imo

it is quite small, and accuracy suffers with granularity, but these patterns are theoretically fractal in nature, and should occur on any scale of the price function, within practical limits.

--arepo

I noticed in this market that useful figures should be not less 10 hours in length. Better 48-50 and more. All other provide false hints.

I dont know, the closer veiw still looks pretty bearish to me, but I am far from an expert.

http://i49.tinypic.com/j8cg8j.png

keeping the wedge in mind...

http://s1.postimg.org/dhwcb2byn/bullishwedge.png

-===-

...


the question is, very simply, whether the support will hold:

http://s11.postimg.org/51zs9wycj/movingsupport.png

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and before anything else is said, i know it is unconventional to apply these methods to such a small scale, but i do believe that price has an inherent fractal pattern and that triangles do form but are sometimes, or often, simply outweighed by noise in the candles.

I've been watching that moving support all day.  ;)

dunno eveything seems to be negative... MACD, EMA (10/21), Slow Stoch...  (Warning I am a noob just learning, do NOT make any financial actions based on this)

Too rich of a bet for my blood with the info we have.

OKCupid announces possible adoption of BTC which causes buyers and we have the bulls who are buying, thinking they are getting value.  I spent my coins I bought yesterday at $10USD more than I paid which is more profit.  Wake me up when the bull traps are finished so, I can buy back in please.  :D

Everything is oversold.

again, noone can answer the one simple question.
who are buying and selling.
no way to tell if it's the same people putting it both buy and sell orders at the same time.
all the metrics don't mean anything when it's impossible to tell how many non-big players there are and how many big-players are moving everything around.

volume doesn't equal unique volume in terms of people

Doh... gotta remember that!...

That is not a simple question and it is not generally available information on any other investments I've made on currency, stocks, bonds, or commodities.

Back in the days, trolling....


oh nevermind.
NICE CHART!

i know. i was making somewhat of a point. but this is what makes this much more easily to be manipulated at this moment. for all we know 80% of transactions could be done just by 10 people which wouldn't be indicative of the actual sentiment. only way is if mtgox tells us which i doubt they ever will

Ever have a stats class?

For most datasets, 95% of the data is within 2 standard deviations of the mean.  Get too far from your moving averages and you'll snap back to them.

lol probably 20 years ago lol... Much to learn...

Good tip if you were in right away and got out quick for a good 10% gain it looks like...  I should know not to doubt the OP!

mid-term is kind of grim although (don't tell anyone) i think we may have found a bottom already...

short-term is definitely very oversold.

Aaaaaand I sold at $56 hoping for $30. Damn you bears!

Lol, same price I bought back in at. Thanks for those  :)

I can feel the tension... major upward trend in 5, 4, 3, 2, 1...

Nice call. I'd like to see more support than just the big wall at $70 though.

The huge wall that's even bigger than before.

Started at 12k, now at 19k...

That train is well gone.

I know, I know...

So, panic buy planned today?

Might dip a bit into the 60s but I'd buy right now just in case. Can't get enough of these sweet coins.

Already done. Costly mistake is costly.

update:

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http://s18.postimg.org/pf1p71w4p/movingsupport.png

-===-

after a brief few moments of uncertainty, it seems the support is actually holding. this is very bullish short-term.

Don't forget the moving averages.

BUY BUY BUY!!  ;D