Bitcoin Forum

http://s21.postimg.org/3rs3gax3r/moon_doom.jpg

This is the 3 day Gox candlestick chart. If we go with the Moon's analysis [blue lines], the current 3 day candle ends up green, with a high closing price (similar to the final green 3 day candle in April), we can expect another savage period of exponential growth before a correction.

If however we go with Doom Guy's intel [yellow line], the current candle ends with a lower closing price (similar to the big red turbo nutter bastard nitrous one in April), and we may be be fucked.

Both the Moon and Mr Doom advise keeping an eye on the 1 and 3 day candles.

But... It probably won't be that similar, and I may well be talking bollocks. My guest analysts don't have ideal credentials, plus the last time I discussed candlesticks I was putting one in my ear to get rid of ear wax, and that was like 3 years ago.

my fiat is ready

The current Zodiac sign is Scorpio, which is under the strong influence of the Moon. So... Up? ;)

http://www.youtube.com/watch?v=vxFzpPjDGG0

/moonsmile

OP, surprisingly good TA for this forum. But don't forget that the DOOM candle is red, and we now have quite a green one. So, Moon first.

Don't use candlestick charts. Candles make 0 sense for a commodity like bitcoin that trades 24/7.

Yeah, there's a little bit of time for a big sell-off, but it doesn't look likely at this stage.

Best TA thread for a while - SUBSCRIBING!

http://s21.postimg.org/u6lgyvg1z/moon_doom_2.jpg

So they both believe that we've hit the top (at least for a while).

The Moon's outlook seems plausible, but so does Doom Guy's, it all depends on whether the Chinese panic or sit tight.

The similarities between the candlesticks in the boxes do seem to suggest a similar pattern to April:

A 3 day run-up with closing prices higher than opening, then a spike, then a 3 day correction period where the price ends up lower than at the beginning of the run-up. The closing price isn't lower yet, but there's another 1 day candle to go on the end of the bottom chart yet, and things could change pretty quickly as the last couple of days have shown  :D  ;)

If the closing price after the 3 day correction period is, in fact significantly higher than the beginning of the run-up (unlike April's spike), basically how it looks right now, then we can expect a higher support level %-wise than April, around $500-$600.

It's even possible (but unlikely) that this higher support level could ignite another spike, maybe even beating the ATH within the next couple of weeks, before consolidating at around $800-$1200 for a longer period of at least a few months.

still think we haven't seen the extent of the 'senate approval effect' I'm sure it will be somewhat tempered by the recent correction.

All in all it looks like a classic case of buy the rumour sell the news.

http://s24.postimg.org/xdvq3yx11/moon_doom_4.jpg

EDIT: ATH!!!

BFG only goes to 9000

BTC goes over 9000

hehe