Lines are NOT used for forecasting the market. nor is TA. It's all risk management. It does have real significance in identifying where large orders are likely to be, and where they are moving. four points of exact coincidence is not shit.

wedges are of real significance in the market. they represent consolidation and come after volatility.... so no I dont know if the next person will pump or dump, but when liquidity is zero, and the price range is contracting, I can see the next large player enter the market and act accordingly. I dont use the lines myself, but they are useful for illustration.

I agree with that. but 465.00 has stood for days now. I would be pleased to see that break before the lower trendline.

positive test of wedge.

ascending wedge. doesnt have much time left to decide.

1)trust in an exchange would have equal affect on fiat and bitcoin.

"2. Some people have become bearish about the long term future of bitcoin, and not just the short term trend." - thats just the way I like it.

3) - the bitcoins are gone too! and we know at least 200k are not going to hit the market for a long time = 200k shortage.

4) this is a constant.

I thought you learned your lesson with leverage.

Imagine the possibility that you take another hit while watching your would be investment take a hike.

maybe you need to take a break, you sound angry.

Nothing beats the human eye when it comes to lagging indicators. you only have a 50% chance that your macd is in tune with he market forces.

It's called bidding. Thats how all rises start. you wont see the volume until the metaphorical auctioneer says 'sold!'.
That could be soon or not so soon. will see.

hmmm where did that spooderman go to? he offered me a game of chess yesterday.

e5 spooderman. your turn.

Yeah, hold has it's virtues, but when using leverage the ball game changes completely. It's a full time job managing a position on leverage. you need to be able to change with the market seamlessly, and always one eye on the exit. always have a plan B.

No sir. not at 400.... I slept in a bit of fiat at 750.

But I dont like sleeping with a leveraged long. especially in a stagnant market. there's no point in holding leverage when the market is indecisive.

yeah it feels like calm before the storm. although I closed some of my position just so I could get a good sleep.

Funny guy. I am not binary, but this is an important break through.
I was nervous that the wedge was gonna break down, I even stated this in an earlier post, and then everyone said "ooh chessnut's changed his mind again" like tossers.

it's sneaking up like nobody noticed.

That trendline formed a lil wedge.

...... well it's not bearish

It doesnt really mean anything until something happens. If it bounces hard (not too likely) it would be an impressive edge.

watching this carefully.

If you wanted to spend your day arguing with me, you could have at least stayed on subject.
This thread is called the "wall observer - price movement and tracking" not called "long term fundamental out look and off topic arguments thread"
I do make spontaneous posts here. It's the practise of articulation, a very useful tool.
when did I contradict myself? be accurate now. and don't confuse impartiality with contradiction.
I would prefer if people didnt make a scene over what I say, especially when they cant read properly.

I think that if the market is oversold (I think so), we will see it on the weekend. Whenever the market is offered a period of low risk it rallies.

Unfortunately the last rally (500) was interrupted by a surprise announcement in the late evening in china, but the weekend will offer better security.

This would only get rolling in about 6 hours though, or perhaps tomorrow morning (china time) in about 16 hours.

you assume far too much. I can see bullish and bearish things at the same time. Can you? when I note that momentum is stalling on stamp, do you think I just changed my long term view?
This really annoys me. ^^