Bitcoin Forum

A friend just sent me this chart with lines on it, and it conclusively proves that we will be going "2 Da Moon Soon." 

https://i.imgur.com/zywRaLN.png

Maybe if those were lines of coke. Wait, did I say that out loud?

LOL conclusive proof, eh?

It says right on the chart "Maybe, maybe not" and 380 is not the break out point. Maybe $480 according to my charts

Well, anything could happen. You could grow a third arm tomorrow. Gold prices could go up. (lol)

https://i.imgur.com/9ItVjY9.png

 8) 8)


http://i3.kym-cdn.com/photos/images/newsfeed/000/282/527/5d7.jpg

There, more charts with lines. NOW it's conclusive.  8)

https://i.imgur.com/NzKL0hw.png
                                                                                                                                                       You don't think this,
Looks a lot like this? (mainly the EMA's)

Also, that isn't a double bottom in the RSI. It made lower lows with the price. The volume has picked up a bit, but it just looks like a suckers rally. The wave structure is a terrible way to start a bull market, all 3's.

rynindaclem, I thought you was bullish??

RSI crossed below into oversold territory twice in a short time period and then proceeded to rise steadily. Double bottom probably wasn't the best terminology but call it what you want, it's still a bullish signal.  8)

Short term, sure :)
The indicators are doing exactly what they are supposed to be doing in this circumstance. Reverting to neutral before one last attempt at the lows to see how it is received.

podyx,
Short term I am. My two charts are still looking/feeling like the smooth flow that was needed. But ultimately, I am bearish until we get a retest of $275. This doesn't mean a break, or even hitting it, but a high volume, convincing rejection would suffice.

https://i.imgur.com/HmCNKQY.png
https://i.imgur.com/lwzbfQx.png

You should not really leave such confessions on the internet you know.

what do you mean when you say The wave structure ?

Mainly the move off the 275 bottom (but the whole thing since, really), appears to be more of a 3 wave structure which is corrective. The daily chart looks like 5 waves, but the inner structure of those waves tells me it's corrective. Take a look at the black chart from my last post.

There was no damn double bottom. The second bottom has to have HIGHER volume than the first and we didn't even come close. There is likely to be a retest of ~$300 support.

Another $300s or even high-$200s retest, guys? Aww, come on, this is killing me! Well, at least it isn't too late for a January or maybe spring-rallye. If we go into June without some serious action, the summer will be dull again. What a depressing year, chart-wise!

http://bakoheat.files.wordpress.com/2013/01/sad-clown.jpg
The only thing sadder than this thread.

When you're crying, I'm buying.

When you're buying, I'm laughing.

Doesn't rhyme, but totally true :D

I'm sure you hide your tears well.
http://movieboozer.com/wp-content/uploads/2013/04/Paul_Ryan_Clown_02.jpg

LMFAO More idiots guaranteeing something they can't even calculate... hilarious. You guys should probably take chart reading classes because "2 DA MOON" charts have been coming out all year & look at where we are?!

Technically, they're your tears.  Tasty :)

http://s9.postimg.org/rwowoskq7/goodmorning.jpg

Sounds good to me, im still betting on a 450 ish rise before xmas, then I have no idea if a rally will ensuee or we will go back to a 370ish dip

Exactly. And it can break down. The last 2 months have been a bigger-scale replica of what happened during and after the 'flash-crash' to 450$. Market makers buying into the giant dip, moving the price up and sustaining it to sell higher. Maybe stimulating big potential buyers along the way with some 'rally' than always turn out to 'fail' (because not really sustained by them, only kickstarted). So, I think, the retest of 300$ will break down big time. Then we'll see "blood in the streets" (and i mean real blood, people jumping windows or cutting veins in the right direction).

There has been a pattern that has repeated three times in this bear market and is in the process of repeating again, where there is a crash, a bounce, a pause, a spike, a second bounce at a much higher level and then a slow dissipation of all upward momentum leading to the next crash. We are in the dissipation period now. The key thing to watch for is the volume as the price approaches support levels on the way down. Low volume= very bad. Stay in cash even if you close your short positions. High volume means the possibility of a double bottom.

I've lost a few houses worth of money identifying this pattern, so a wise person should learn from my mistakes. The fact that it was money I made on the way up is some consolation. Still, opportunity lost is opportunity lost.

Or stay in BTC. I don't want to move everything to fiat and then miss a possible 10x take off, despite how remote that is.  If it drops down to $200, big deal I'll gather up more fiat and buy more BTC. But if the price surges I'll be super bummed. I don't have a constant supply of BTC coming in every month like I do with USD. It makes more sense for me to sit in BTC.  But you mentioned losing a house worth of money so it sounds like you are trading with a much larger balance than I.