Bitcoin Forum

Yes I'm a noob, and by no means an expert in the art of TA.

This just seems too obvious. If nothing major happens, the chart should play out according the 6 month pattern below:

https://i.imgur.com/R0KoNrE.jpg


We will go up to 520 in less than a week, then back to the 400 bottom for the final bounce.

At that point we should be looking at the log chart too see if history is going to repeat itself. I have seen too much doom and gloom lately. Near the end of a long downtrend everyone seems to forget that BTC has done this exact same scare 4 times already. I don't have time to dig through the archives, but I'm sure that the low before every major boom was full of threads saying "this is the end of bitcoin". Look at the big picture. Those same threads will be back again next year after it climbs to $4,500 and falls to $2,000.

http://www.game4coins.com/btc/ta_log.png


The first week of may will be a new trend. Hang in there FUDsters!

What about the other one? The one that isn't shown on any Bitstamp chart

http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2011-06-01zeg2011-11-30ztgSzm1g10zm2g25zvzl

Kinda shoots your theory all to hell doesn't it?
My point isn't that it won't go up from this consolidation (It is entirely possible) My point is that you can't assume it will, just because it has done this before, and it will do it again.

Carry on  :)

This I agree with.

But the link to a mtGOX chart does not make sense. Can you spell it out for me?

Your chart does not include the 2011 downfall which followed a complete different pattern.

It definitely seems like it's following that 6 month pattern. I think it will be a little less this time though - I would expect to see a spike sooner rather than later.

Nobody can predict where BTC is going. Just like nobody can predict the stock market. This isn't Pi...this isn't Limitless. This is real life.

The only way to invest is to either have inside information...or go with your gut. Unfortunately I am not an insider, so I invest with my gut. I believe Bitcoin has a bright future. I don't know if that means 1BTC will be worth $500 or $500,000!! All I can do is buy when my gut says it is low. Period.

Volume. I don't know enough about Volume analysis but surely low volume in a market that is predicted by many to be in long-term exponential growth (in value) is to be expected as people hold on for long-term gains?

Apologies I got that wrong. It's a 2011 chart.

My prediction was decent. We took a quick detour (340) on the way to 540, but it bounced of that general upper resistance line area. The drop we are seeing now, even though I don't want to see it drop, will test the general bottom area, 400 give or take 20. I feel dumb now because I panic bought some at 500 thinking we were really going to break into a new uptrend. This downtrend is almost out of steam, so hang in there. Something new and exciting (hopefully moon) has to happen soon.

Price will go up when more etf and infra is ready, cannot keep going up for no reason forever

And yet there is no wind on the moon. See you there, leave your windbreaker back on Earth.

Nothing goes up forever. Thats pretty obvious.

Solar winds hehe :]