Bitcoin Forum

If BTCchina breaks 5363 Bitcoin will do another run, making a new all-time high.

You heard it hear first.

Cheers

Sage

Slightly optimistic are we?  ;)

Logic?

The BTCchina chart tells the whole story.  China is driving this market plain and simple.
 
It went through its bubble cycle already.  It's right around it's 50% retrace and is consolidating.  It is currently in the end of a tightening pennant formation.  Normally I would look for a longer consolidation period.  But so much interest is flooding into Bitcoin right now, I'm betting the consolidation period is far shorter then normal.

If it breaks down it will go down a bit, and find a new base.  But if it breaks topside, it will continue its run... breaking a new high.  Hear me now believe me later.

Aren't they going to bed soon?  It's 10:51 pm in Beijing.

If BTCHina is the market driver then that chart would suggest that Bitcoin is dead cat bouncing.

Take a look at it ffs before coming on here and slavering all over the carpet.

The BTCchina chart shows a pennant formation coming to a head.  It just broke the downside.  Never breaching 5363 (topside).  So we can expect it to continue down, finding a new base.

Which means more buy opps soon.

A complete 180 in 5 posts.  Amazing.

It's not a 180 because he didn't claim anything. It's good to be flexible and look at it from different perspectives.

Read my first post again!  My position hasn't changed my friend!  It never breached the topside target of 5363.  You obviously are a little naive to trading using formation breakouts.

To maintain the same interpretation after the available data has changed so that a different interpretation is more probable would not be healthy.  It would illustrate irrationality, and be detrimental to decision making.

...I mean I am doing what you just did but.. It's clear he meant the logic that brought him to his original conclusion hasn't changed.. the breakout indicator of 5363 or w/e wasn't met.. ergo he has re evaluated for the indication that it could now go down since the buying pressure has once again subsided..

Excellent movie

Aha.  Much more clear now, but I don't think it was at all clear to most of the people on this board.

We just see people on here all the time make bold predictions and then turn around and make another one mere minutes after their previous one failed.  It's a bitcoin tradition.

Carry on.

Get ready for what? Selling? No way. We're just getting started.  :D

5363 seems like a pretty particular number. How come? Psychic abilities or something else?

duh his name is sage  ;)

Indeed. I did check the time stamps for his posts and it looked about ..9-10hrs apart.. but agreed about bold vague statements being the status quo...I chose to interpret it that way doesn't mean its right or what he meant but oh well I am a Canadian at heart. lol :D

my current prediction stands...that until CaVirtEx starts to react to a 50-75 price swings its a kiddie coaster from 750-850 :D

China is also not reacting.

I think the arb'n brought the markets back to a similar range.

5363, you sure? Not 5348, or 5411?

Technical analysis = voodoo mumbo jumbo.

If China breaks 7000, that's when it makes a new all time high.

I've even seen it see!

Are you talking for the price in cavirtex or in general. Because i don't see cavirtex having any impact to the other exchanges whatsoever.

I'm personally waiting for 7777. :D.
Also when we break this , 9999 next.
I hate the 8 number.

Nope!  5363.

Only time will tell.

Cheers.

It's going to do something like this!

http://i1233.photobucket.com/albums/ff397/megadude3/rocket-kart_o_GIFSoupcom.gif

Are gifs disabled  :(

http://i1233.photobucket.com/albums/ff397/megadude3/rocket-kart_o_GIFSoupcom.gif