Bitcoin Forum

Based on my observations, we should have a major move either up or down soon (a little break from all this sideways) and so an opportunity for a great trade.



Here are my pics. The blue arrows show the two points out of which I draw the trend lines, the red arrows simply show crucial points in the graph being touched by the trend lines.

The majority of trend lines were drawn in a logarithmic scale, aside from the curvilinear one as you can see (that trend line worked better if drawn in a linear scale).


So, this is the first trend line:


http://oi60.tinypic.com/z3fv5.jpg



http://oi58.tinypic.com/jj75p0.jpg








This is the second one:


http://oi62.tinypic.com/mkxeg4.jpg






This is the upper trend line, drawn using these three chuncks of points here:


http://oi61.tinypic.com/208xym8.jpg







Interestingly, this upper trend line magically touches this important point in the graph:


http://oi62.tinypic.com/qy8nxc.jpg





Finally, the two lower trend lines converge almost at the exact point were the upper trend line is supposed to close the big triangle.
This seems like a crucial breakout point.    
Note that this convergence of two different important trend lines occurred when we saw the $340 bottom.


http://oi60.tinypic.com/i4fr6u.jpg




An interesting breakout or breakdown point, you could buy or sell depending on what happens right after we exit the triangle shown in the pictures :)

Thought provoking, thanks for laying that out.  Something to consider for sure.

I suppose the current events always play a role.  Whether Cyprus, Greece, or how Africa has recently gotten on board, and when China hopped in, things went crazy.  Lets hope for the next big news to hit the market!

Yes, I guess some kinda news related to the topic would be identified as the "cause" of the next bubble, or if not a cause, the "sparkle".

Let's just hope the sideways will be over XD

It will be another month or two.

So far the price has been driven by ordinary people (so far as "tech savvy with high risk tolerance" can be called normal, anyway), in most cases with little more than play money. The next big jump will either take a sudden massive spike in adoption, which seems unlikely, or Big Money which will need regulation and a way to get serious money in.

Looking at the latter option, they still need to have regulation firmly in place. Lawsky gave us 45 days to provide feedback, so that is probably the minimum time we will have to wait. And then we still need the ETF or something similar.

lol you wish.