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Title: Bitcoin just broke the 2012 long term support trend line. Post by: Wandererfromthenorth on January 03, 2015, 08:06:09 PM Posted on the Wall Observer thread, but it's pretty important so I will open a new thread.
Bitcoin is breaking the 2012 long term logarithmic support trend line. You can draw it a little bit differently depending on where you put the points but all of them are being tested: https://pbs.twimg.com/media/B6c1fMxIEAAGO1_.png https://pbs.twimg.com/media/B6c1fPHIcAA8OEK.png Edit: Update: http://i61.tinypic.com/1zwkvpe.png Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: marvinrouge on January 03, 2015, 08:09:29 PM woops :P
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Swordfishbtc on January 03, 2015, 08:10:40 PM what does that mean for price?
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: bitcon on January 03, 2015, 08:11:05 PM looks like its done it a couple other times.... right before skyrocketting.
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: marvinrouge on January 03, 2015, 08:11:17 PM what does that mean for price? freefall (if holds) Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Hunyadi on January 03, 2015, 08:11:26 PM Are we f***ed now? :'(
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: inca on January 03, 2015, 08:12:24 PM Let's see :)
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Kipsy89 on January 03, 2015, 08:18:49 PM Ha, that's some interesting lines you drew right there! But on the other hand this means that we are about to bounce back and start another bull-run to a new ATH! I for one can't wait to see the moon. We will see four digits, but will probably never see two digits ever again!
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Coinshot on January 03, 2015, 08:23:14 PM A small going down below the line indicates nothing. Its not a rigid line drawn by the laws of nature, only a statistical line.
It will bounce up nicely, but will take several months to get in a bull market. Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Kipsy89 on January 03, 2015, 08:25:22 PM A small going down below the line indicates nothing. Its not a rigid line drawn by the laws of nature, only a statistical line. It will bounce up nicely, but will take several months to get in a bull market. I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Coinshot on January 03, 2015, 08:31:40 PM A small going down below the line indicates nothing. Its not a rigid line drawn by the laws of nature, only a statistical line. It will bounce up nicely, but will take several months to get in a bull market. I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. Thats why I am hoping the drop down to 250-260 happens fast. It will provide the momentum for the upward movement. As you pointed out a slow bleeding does not help but I think the capitulation is coming soon. Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: GoWest on January 03, 2015, 08:32:32 PM A small going down below the line indicates nothing. Its not a rigid line drawn by the laws of nature, only a statistical line. It will bounce up nicely, but will take several months to get in a bull market. I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. This selling volume is indeed tiny. Barely even registers compared to the dip to 275. Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: dropt on January 03, 2015, 08:32:39 PM I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. I'm not a "trader" so it's up to you guys. But isn't this when you're supposed to be buying the dip (cheap coins)? People seem real good at selling the tops, but poor as shit at buying the bottoms. Between the farms cashing out and the short-capades going on at all times is it really a surprise that it's continually bleeding out? Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: celebreze32 on January 03, 2015, 08:35:24 PM Different people have drawn that line slightly differently. What kind of price range must bitcoin fall below before everyone agrees the 2012 long term support trend line is broken? Someone said ~270 a while back and others gave slightly higher and lower figures.
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Pattart on January 03, 2015, 08:47:21 PM Posted on the Wall Observer thread, but it's pretty important so I will open a new thread. Bitcoin is breaking the 2012 long term logarithmic support trend line. Interesting to see, 300 still looks so high on that (linear/nonlinear?) chart. Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Kipsy89 on January 03, 2015, 08:50:52 PM I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. I'm not a "trader" so it's up to you guys. But isn't this when you're supposed to be buying the dip (cheap coins)? People seem real good at selling the tops, but poor as shit at buying the bottoms. Between the farms cashing out and the short-capades going on at all times is it really a surprise that it's continually bleeding out? Well, a lot of people are really greedy and will never sell at the top, but buying the bottoms is hard because things look dire then, and people start to panic. This is contrarian-investing, but works only when you are totally sure about what you are doing! As soon as emotions get involved, you are screwed! Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Arv1e on January 03, 2015, 08:55:35 PM I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. I'm not a "trader" so it's up to you guys. But isn't this when you're supposed to be buying the dip (cheap coins)? People seem real good at selling the tops, but poor as shit at buying the bottoms. Between the farms cashing out and the short-capades going on at all times is it really a surprise that it's continually bleeding out? Well, a lot of people are really greedy and will never sell at the top, but buying the bottoms is hard because things look dire then, and people start to panic. This is contrarian-investing, but works only when you are totally sure about what you are doing! As soon as emotions get involved, you are screwed! Please introduce me to someone who knows what they are doing and thus accurately predict the price.. I have read a lot of threads on here and havent come across anyone yet. Cheesnut is excellent at short term predictions using EW but thats only for the short term traders. Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: celebreze32 on January 03, 2015, 09:02:49 PM I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. I'm not a "trader" so it's up to you guys. But isn't this when you're supposed to be buying the dip (cheap coins)? People seem real good at selling the tops, but poor as shit at buying the bottoms. Between the farms cashing out and the short-capades going on at all times is it really a surprise that it's continually bleeding out? Well, a lot of people are really greedy and will never sell at the top, but buying the bottoms is hard because things look dire then, and people start to panic. This is contrarian-investing, but works only when you are totally sure about what you are doing! As soon as emotions get involved, you are screwed! Please introduce me to someone who knows what they are doing and thus accurately predict the price.. I have read a lot of threads on here and havent come across anyone yet. Cheesnut is excellent at short term predictions using EW but thats only for the short term traders. I doubt anyone can 100% of the time. One analyst, who has now locked his thread, said he could do better than the flip of a coin, but refused to make 100% guarantees. Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: criptix on January 03, 2015, 09:19:02 PM Better 20x leverage now :o
Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Wandererfromthenorth on January 03, 2015, 09:20:08 PM I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. I'm not a "trader" so it's up to you guys. But isn't this when you're supposed to be buying the dip (cheap coins)? People seem real good at selling the tops, but poor as shit at buying the bottoms. Between the farms cashing out and the short-capades going on at all times is it really a surprise that it's continually bleeding out? Well, a lot of people are really greedy and will never sell at the top, but buying the bottoms is hard because things look dire then, and people start to panic. This is contrarian-investing, but works only when you are totally sure about what you are doing! As soon as emotions get involved, you are screwed! Please introduce me to someone who knows what they are doing and thus accurately predict the price.. I have read a lot of threads on here and havent come across anyone yet. Cheesnut is excellent at short term predictions using EW but thats only for the short term traders. Same for for the timing of today's sell off and I posted a bunch of other easy trade setups lately. Not bragging, just saying that it's not rocket science, anyone can do it if they know the right (simple) tools, and that predicting major moves is absolutely possible. Trading is important IMHO because you can protect yourself from crashes like this. Since you can sometimes time the markets, you can stay in fiat and stay safe watching the price decline. You have all the time in the world to rebuy if you want to. It would be a way for the perma-bulls to protect themselves... some ask: "why a sudden increase in price"? what's the news? the reason is simple, and it has nothing to do with news! Trend reversal was about to happen only if we had these conditions: -Important breakout points broken and crossings of trend lines -sudden rise in volume http://i61.tinypic.com/vyt8wx.jpg http://i62.tinypic.com/2agm74n.png http://i61.tinypic.com/15ga3o4.png Do you think it's a coincidence that the huge sudden spike for no apparent reason (no news) happens when two lines that touch several crucial points in the graph meet PERFECTLY for the first time ever? ;) Careful bulls, this thing will crash, support just cracked. Last support trend line standing before the void. Only on Chinese exchanges. https://www.coinigy.com/s/i/548cdf9a.jpg I suspect we would have breached that before the Microsoft P&D (as you can see from the chart, we went under the trend line for a few minutes/hours), but the news was good reason enough to stop the dumps and pump a little before returning to the same levels. I gave you guys a no-brainer trade setup and told you when the big move was gonna come. I told you to buy the breakout if we break the big triangle up, short if we break the triangle down. This could be a ridiculous big move that is gonna take us a lot lower. Why not stay safe? How many didn't listen? :( Timing the BTC markets is easy as fuck :( ;D Next big move should come in a few days (4-6 max) Wait for volume to confirm a breakout/breakdown. If big volume confirms a break in either direction, it should be a major move. https://pbs.twimg.com/media/B6ClRWCIcAAhFzr.jpg You don't need to guess beforehand. That's the point. You short the breakdown (if we go down) or you long the breakout (if we go up) when we exit the triangle trying to get the best fill. Only if volume confirms it though. https://pbs.twimg.com/media/B6bKjLjIUAA53He.png Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Kipsy89 on January 03, 2015, 09:24:12 PM I predicted the $450-$680 megapump and timed it perfectly. Then today's sell off and I posted a bunch of other short trades lately. Not bragging, just saying that it's not rocket science, anyone can do it if they know the right (simple) tools, and that predicting major moves is absolutely possible. Interesting. So, what do you make of the current situation? Are we going to bounce back soon? Is there a real and substantial trend-reversal coming soon? What do you think? I believe we basically need at least a high-volume retest of $275, maybe even lower. Does that make sense? Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: celebreze32 on January 03, 2015, 09:26:32 PM I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid. I'm not a "trader" so it's up to you guys. But isn't this when you're supposed to be buying the dip (cheap coins)? People seem real good at selling the tops, but poor as shit at buying the bottoms. Between the farms cashing out and the short-capades going on at all times is it really a surprise that it's continually bleeding out? Well, a lot of people are really greedy and will never sell at the top, but buying the bottoms is hard because things look dire then, and people start to panic. This is contrarian-investing, but works only when you are totally sure about what you are doing! As soon as emotions get involved, you are screwed! Please introduce me to someone who knows what they are doing and thus accurately predict the price.. I have read a lot of threads on here and havent come across anyone yet. Cheesnut is excellent at short term predictions using EW but thats only for the short term traders. Then today's sell off and I posted a bunch of other short trades lately. Not bragging, just saying that it's not rocket science, anyone can do it if they know the right (simple) tools, and that predicting major moves is absolutely possible. Why don't you start your own thread to put all your future predictions in? What do you think the price will do this next week, do you think it will continue sinking, and how low? Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Wandererfromthenorth on January 03, 2015, 09:38:17 PM I predicted the $450-$680 megapump and timed it perfectly. Then today's sell off and I posted a bunch of other short trades lately. Not bragging, just saying that it's not rocket science, anyone can do it if they know the right (simple) tools, and that predicting major moves is absolutely possible. Interesting. So, what do you make of the current situation? Are we going to bounce back soon? Is there a real and substantial trend-reversal coming soon? What do you think? I believe we basically need at least a high-volume retest of $275, maybe even lower. Does that make sense? Why don't you start your own thread to put all your future predictions in? What do you think the price will do this next week, do you think it will continue sinking, and how low? Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: Wandererfromthenorth on January 04, 2015, 12:05:19 AM Title: Re: Bitcoin is breaking the 2012 long term support trend line. Post by: ajw7989 on January 04, 2015, 12:07:35 AM interesting so the last lowest point was 275. Lets see if we go below that if we do not theres good hope we will bounce back to maybe 300. Heres for being optimistic ;) Title: Re: Bitcoin just broke the 2012 long term support trend line. Post by: waaat? on January 04, 2015, 12:08:45 AM this was an important line.
Next important line will be the ATH from 2013 (-10% from here) In case that gets boken too you'll see the mother of all panics Rebound will not happen quick or a lot. Bottom is ... well, we'll see ... Title: Re: Bitcoin just broke the 2012 long term support trend line. Post by: criptix on January 04, 2015, 12:09:48 AM you guys panic to early, nothing broken yet.
if it happens you gonna notice fast because we gonna see 1xx again Title: Re: Bitcoin just broke the 2012 long term support trend line. Post by: kwukduck on January 04, 2015, 12:10:39 AM Silly people, i warned you for a few weeks already...
Title: Re: Bitcoin just broke the 2012 long term support trend line. Post by: waaat? on January 04, 2015, 12:11:01 AM Silly people, i warned you for a few weeks already... many did warn - they were called trolls ::) |
