I do not understood what rule broke his chart.
The Oct 23 high is higher than the Oct 30 low, which is not allowed based on the rules.
here is a good overview that explains is well:
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Fantastic. We should call this the "ELWAR WAVE THEORY" :-)
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The more critical trendline is the long term uptrend line which currently runs around 4 $ (EDIT: it is already getting closer to 4.5 - 5.0 $ since the trendline is rising). This one needs to be broken from the underside now before BTCUSD can see further upside.
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Im not a big specialist in this, but since S3052 went somewhere... simple Eliott wave theory suggests fifth wave in order to uptrend. Then will be a correction. The picture is near to a simplest Eliott wave. 
According to the Elliott wave rules, the count you have shown above is not allowed:
The low of wave 4 can never overlap the high of wave 5.
Here is a chart that I published to our subscribers 2 days ago. It shows that there are two valid possibilities (some of them are discussed by some posters also in this thread accurately):
1) the rise from the 2.04 $ low was just a A-B-C correction in a continuing downtrend: MEANS NEW LOWS BELOW 2.04 $ to come.
2) BTCUSD develop a series of first and second waves in a bigger uptrend. MEANS THAT THE 2.04 $ LOW WAS THE TERMINAL LOW OF THE 4 MONTHS CORRECTION AND PRICES WILL NOT MAKE A NEW LOW BELOW 2.04 $.
We need to see some more price action to determine the most likely outcome. |
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I agree with you.
And also: Exchanging fiat <--> must be much more secure and easier for everybody.
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I am using standard technical indicators and Elliott wave analysis successfully for bitcoin as well as stocks and metal forecasts.
I.e. I just published a stock market chart indicating that we are likely in a third of a third wave down which is usually the strongest.
http://www.bitcoinbullbear.com/stocks-metals-etc.html
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I do agree with this. There are way too many threads in this category. Way too many. We could cover all the topics people usually discuss in like 3 threads. 
I can not review and comment all threads, but will try to be as active as possible in this one thread.
https://bitcointalk.org/index.php?topic=1493.1500
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Great. Let's call it the bitnagle sentiment indicator.
:-)
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we have forecast th move from 2$ to around 3.7-4$ in our short term updates an weekly analysis in the subscriber section of bitcoinbullbear.com
... Almost doubled since the 2.04$ low..
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welcome back Vladimir. I missed you
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we are predicting long term, mid term and short term trends. you can chose to not read them.
there are many people wanting this service
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that is not true. i predicted the decline from the 32$ high, then predicted the decline to 5$ and below, giving many sell signals to subscribers.
you can chose to subscribe to get all signals, or not. it is up to you./color]
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compared to previous walls, the ask wall at 3$ is quite small
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I have said this also many times. But unfortunately MtGox who is probably the most profitable (in absolute) bitcoin business with highest turnover, does not really do significant marketing for Bitcoins.
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we also predicted this move in our subscriber service and issued a short term alert about this opportunity, and confirmed this rally potential in our weekly newsletter. the pattern was clear
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Nice to finally see a bull around here that has the stamina of a bear. Take 'em down, cypherdoc. Let's not let the bastards get to us.
GoWest, where's the $5.5 you promised us in your predictions just a few weeks ago?  It's only $3 away...  It's quite possible that we see much more rise and what we have seen a couple of hours ago is just the beginning. |
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One thing about this dip into the $2.xx range is that it brought out a metric ass-tonne of negative media attention. It was strange to watch, but suddenly all of the online media called the death of Bitcoin. If that's not a sign that the bottom is in, I don't know what is.
News are not leading price development, but news are lagging it. This means that you cannot rely on waiting for news to trade. |
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thats entirely possible. people buying at current levels have a -10% to -15% tight stop loss at 2$ and higher return opportunities towards 3.5-5 $.
It just needs a trigger.
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