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Title: I'm calling a bottom too Post by: ineededausername on February 16, 2012, 09:55:59 PM http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=150&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=MACD&i2=RSI&i3=&i4=&v=1&cv=0&ps=0&l=1&p=0&
Major factors 1. The daily RSI has almost hit 30. This has happened very rarely in the past, and it always leads to a move up! 2. Depth actually looks pretty healthy right now, contrary to statements by people like Edward. 3. We just hit a major support level -- the 3.8-4.2 range. Smaller factors 1. Size of this correction is roughly 50%, important Fibonacci retracement level. (7.2->3.88) 2. Looks exactly like Spring '11. 3. Everyone's bearish on the forums :o 4. The big sellers have probably run out of BTC. 5. MACD hit its own long-term support. Title: Re: I'm calling a bottom too Post by: Oldminer on February 16, 2012, 10:02:14 PM I think we could see a short term move up but I predict it will happen after the weekend (and after a weekend dip) if it happens at all. Longer term the outlook still looks bleak (in my opinion).
Title: Re: I'm calling a bottom too Post by: notme on February 16, 2012, 10:04:59 PM I agree, but I believe retracements are calculated with the start of the rally as the base. So with the current price of 4.28, we are at 56.15%. That also makes 50% $4.6 and 61.8% is $3.9864. $3.88 would be 63.8%.
Title: Re: I'm calling a bottom too Post by: Bro on February 16, 2012, 10:07:47 PM Nice Fibonacci bro
I think so too btw. Title: Re: I'm calling a bottom too Post by: ineededausername on February 16, 2012, 10:08:45 PM I believe this is called a "bull trap." I hope you meant "bear trap," because bull traps don't go down..... Title: Re: I'm calling a bottom too Post by: adamstgBit on February 16, 2012, 10:32:58 PM I believe this is called a "bull trap." I hope you meant "bear trap," because bull traps don't go down..... I'm calling it a bull trap because as soon as the price gets high enough it will be zapped with a 6-10k sell off. Bull. trap. that was last weeks game Title: Re: I'm calling a bottom too Post by: Kluge on February 16, 2012, 10:36:16 PM Liquidated my short. Let's go!
Title: Re: I'm calling a bottom too Post by: Oldminer on February 16, 2012, 10:43:19 PM I believe this is called a "bull trap." I hope you meant "bear trap," because bull traps don't go down..... I'm calling it a bull trap because as soon as the price gets high enough it will be zapped with a 6-10k sell off. Bull. trap. Thats Bull Crap :P Title: Re: I'm calling a bottom too Post by: notme on February 16, 2012, 11:01:25 PM I believe this is called a "bull trap." I hope you meant "bear trap," because bull traps don't go down..... I'm calling it a bull trap because as soon as the price gets high enough it will be zapped with a 6-10k sell off. Bull. trap. Thats Bull Crap :P Oh no! A 10k sell off all the way down to .... $4.1. Title: Re: I'm calling a bottom too Post by: N12 on February 16, 2012, 11:14:16 PM Let me add a few things.
ENJOY THE WEEKEND RALLY, BROS! Title: Re: I'm calling a bottom too Post by: proudhon on February 16, 2012, 11:47:58 PM Let me add a few things.
ENJOY THE WEEKEND RALLY, BROS! I've got my bitcoins. Let's go. Title: Re: I'm calling a bottom too Post by: N12 on February 16, 2012, 11:55:40 PM I've got my bitcoins. Let's go. Weekend, trading back in the mid 5s: "Everything went better than expected." ;DTitle: Re: I'm calling a bottom too Post by: SkRRJyTC on February 16, 2012, 11:58:24 PM I've got my bitcoins. Let's go. Weekend, trading back in the mid 5s: "Everything went better than expected." ;DMid 5's = Everything went better than expected??? I'd say over 7 = Everything went better than expected! Title: Re: I'm calling a bottom too Post by: adamstgBit on February 17, 2012, 12:03:43 AM I've got my bitcoins. Let's go. Weekend, trading back in the mid 5s: "Everything went better than expected." ;Dthat would be impressive.. i expect a high of 4.8 and cash below 4$ this weekend Title: Re: I'm calling a bottom too Post by: Kluge on February 17, 2012, 01:40:29 AM Liquidated my short. Let's go! Weeeeeeeeeeeeeeeeeeeee!Title: Re: I'm calling a bottom too Post by: ineededausername on February 17, 2012, 01:50:43 AM Up we go! :D
Title: Re: I'm calling a bottom too Post by: Koekiemonster on February 17, 2012, 01:54:36 AM There's just very little ask depth to cover the demand of mid/longtermbulls who shorted the way down and are planning to reverse their positions.
Curious to see what will happen. :) Title: Re: I'm calling a bottom too Post by: proudhon on February 17, 2012, 01:56:18 AM There's just very little ask depth to cover the demand of mid/longtermbulls who shorted the way down and are planning to reverse their positions. Curious to see what will happen. :) I'm going to go out on a limb here and guess that a few of those people aren't going to get back all the bitcoins they started with. Title: Re: I'm calling a bottom too Post by: Koekiemonster on February 17, 2012, 02:00:10 AM I think panic buying is a shitty term, but it could be applicable the upcoming 24h..
Title: Re: I'm calling a bottom too Post by: thegato on February 17, 2012, 02:01:27 AM let's see what happens...
Title: Re: I'm calling a bottom too Post by: proudhon on February 17, 2012, 02:10:06 AM I guess everyone's watching the show...
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