The red line is the Excel trendline computed using only data from the past up to that point in time. If the chart had been made on that date, the trendline would have crossed at that point. Look what happens every time the price crosses that line. The trendline is at $752 now. We're almost there. Interesting times ahead. Also note the red line might make a good stop loss for those not holding. 2016.
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$680 within 2 hours.
Check. I really don't see anything higher than $681 over the next couple hours. Likely in the 670-680 range. I expect more of the same for the next 2 hours. We will float aimlessly between $666 and $680. We are slightly bullish from this point, but not enough to break above $681.
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$680 within 2 hours.
Check. I really don't see anything higher than $681 over the next couple hours. Likely in the 670-680 range.
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... when you won't let anyone see the key to your car, house, etc.
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Price target for this formation is about 730. We'll see if it pans out soon.
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In the handle stage. Bullish.
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Did you train this on all available data, or did you leave some for forward testing? You need to watch for curve fitting.
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I estimate this will happen around June 10th. The weekly MACD hasn't been green since January. Actually, if this bullishness continues into tomorrow, we can have a closed green candle by the end of that day. Tomorrow is the last day of the week for the bitcoinwisdom weekly chart, and it's very, very close to turning green now.
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or for that matter moves of $1000 a day?
At $660 it's quite common to see daily price movements of $35. If we assume the same level of volatility, then at $2,000 it will be common to see daily price movements of $100, and at $20,000 it will be common to see daily price movements of $1,000. Volatility is likely to decrease as market cap increases, though.
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So, we're supposed to be $651-$653 now, right? I'm seeing $664 on Bitstamp.
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The red line is the Excel trendline computed using only data from the past up to that point in time. If the chart had been made on that date, the trendline would have crossed at that point. Look what happens every time the price crosses that line. The trendline is at $752 now. We're almost there. Interesting times ahead. Also note the red line might make a good stop loss for those not holding.
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MOON MNOON?
No No, that's the old saying, as of now it's "to da gyyym" You gotta love bitcoin, solves banking problems and you get healthcare advise, all while making money. BTC to cure cancer! This is one of the most off-topic days on the Wall Observer. California Scientist Seeks Cancer Cure With Bitcoin http://www.coindesk.com/california-scientist-seeks-cancer-cure-bitcoin/
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We all love this chart and hope it comes to fruition. But I must point out that the bottom line is just a copy of the top line's slope fit to touch a single low. This doesn't make it a particularly strong channel. The bottom line may not have the same slope.
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Will be $700 per coin by end of the day tomorrow (June 2nd)?
I believe so. It has been on the up for the last week. Yesterday there was a significant jump in price. Today, it broke 660 and continues to linger around that price point.
We could hit it in the next 2 hours.
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Someone just painted the tape on Bitstamp.
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Oh I never stopped. I just stopped publicly posting the predictions. The thread was about helping others. But I'm not interested in being piled on.
The weekly MACD has been increasing at a rate of about 23 points each of the last couple weeks. It's currently at -22.21. Not an overly complex analysis on this one. But complexity usually means you're just curve fitting and will be wrong in the future.
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I estimate this will happen around June 10th. The weekly MACD hasn't been green since January.
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And I still want him to compare against buy and hold. He hasn't done that for a while.
C'mon Raystonn, show us the numbers!
If you want the numbers for the past predictions I'll tally them up. But I don't think I'll bother with future predictions as I hear nothing but grief.
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