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I turned from cash to bitcoin at 510 after the goxxing, and then i took leveraged long at 355, and added at 430.
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This wave B? you say it like you know it. C wave terminated, sorry. you cant just put a WXY on everything you dont understand like DanV.
With due respect, you are the one with the track record of attaching letters to everything you don't understand in those past few months....and being proven brutally wrong. Here is the TA which I am operating from for the time being: https://bitcointalk.org/index.php?topic=499968.msg6990905#msg6990905If I am wrong, then we must be in the midst of a Wave 3. Yet if $595 was the top of Wave 3, then that leaves Wave 1 both steeper and also longer than wave 3. Of course, Wave 3 may well not yet be completed. We could easily have just completed a minor Wave 1, of a Wave (3), and be in the midst of a minor Wave 2. Only time will tell if this turns out to be the case, etc etc..... .....But for me, there seems to be a far more convincing case that we are in a corrective wave. The legs up have been incredibly sharp, followed by relatively long and sprawling down trends, and the up legs have more closely resembled Zig-Zags other than impulse moves. Don't say they haven't, cos they have! We also seem to be forming a leading diagonal formation as I demonstrate in my chart. If this progresses then you can write off a Primary Wave 1 or Wave 3 altogether. If the leading diagonal unfolds, we are either in a Wave 4, or a Primary Wave B scenario. By the way, I have learned not to be baited by those who have differing opinions to mine, into becoming emotionally or even aggressively attached to my own viewpoint for the simple reason that such reactions are likely to serve as self-harming. I have a different viewpoint to yours and you seem to be responding to it like a granny with her knickers in a twist. Unless you have the market sway to ensure that your analysis becomes the reality (you don't), I suggest you give yourself a checkover. I see what you did there, you present to me so much bullshit at once, and such a sheer variety that I actually cannot be bothered. Dont be so arrogant, you sound like DanV when I assumed my long at 430 a couple of weeks ago, calling me emotionally attached LOL. My track record is fucking great. http://www.don-lindsay-archive.org/skeptic/arguments.html |
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Do you guys use Huobi or Bitstamp for your TA?
they are both very important, day to day the market leader changes and we just have to adapt. |
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bids are doing the tsunami, blast off looks imminent cant wait to give all my friends 10bits with the new FB app coming out soon.  Adam to you know how the app is going to work? is it going to be totally confined to facebook or is the block chain website going to play a role? Can wait to send some friends bitcoin either, but it has to be 2-3 clicks Maximum or they wont get it lol. |
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$650 is 38% retracement from the $1160-$340 correction. There will no doubt be strong resistance in this area, But I suspect that this Wave B will retrace 50% ($750), before the market is sent back into reverse. This wave B? you say it like you know it. C wave terminated, sorry. you cant just put a WXY on everything you dont understand like DanV. |
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Isn't it fishy that the moment the market approaches 600... BitFinex conveniently experience a database failure, causing panic and margin traders to close their position?
The house always wins.
My positions didnt get closed? |
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lets see,
say that suddenly out of no where, bill gate and warren buffet both decided to sell everything and buy bitcoin
so they both got like 120 billion dollar
say if both of them go to the exchange and buy 1 bitcoin = 1 million dollar, they can only manage to buy 120,000 bitcoin
but as far as you know, there are 12 million bitcoin in circulation and if 10% bitcoin want to sell off for 1 miliion each, you have 10 times the supply over the demand
you can only wish that only 1% of the bitcoin in circulation wanna sell of at 1 million each so you can sustain the price for like a few seconds
so the conclusion is
NOPE, wont happen
there are more than 1500 billionaires in the world, net worth 45 trillion. there is a lot more where that came from too. |
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many of the coins that were bought in this run are probably no longer subject to panic selling, as whales withdraw for long term holding.
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Thanks! So the theory is that this shape (in this case with prices going up and down) may keep repeating itself. My issue with this is that there are just too many variables. I've always felt that the shifts (on the chart) are random and that people find ways to match them up together to make them something they aren't.
well as you can see, the chart has left some accuracy to be desired... although I do believe the market is expressed in fractals, self similar fractals. they are easy to see after they happen, but like I say, usually they are not predictive enough to use. The idea is that the chart reflects the fundamentals (often not predicable), and that unexpected net forces on the market tend to unfold in similar ways every time. just like a story, the event will have a beginning, middle and end. With fractals and fundamentals we can often pin point the top or bottom of a move that has been clearly caused by something that we know about. |
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As an EW analyst I went to the effort of making this illustration of fractals, if not only because some might find it interesting to see. I do not mean for it to be predictive, because by large it is retrospective.  Can you please clarify what fractals are? Like repeating events or something? Best to read about it here http://fractalfoundation.org/resources/what-are-fractals/Fractals are shapes that reoccur within a self similar or identical shape many times on all scales of space. Fractals often make up the overall design of a living thing in nature. |
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That is, the more I think about you guys' argument, the more it seems to me that the creation of a more useful currency *can* create wealth, insofar as it does its job (fair faciliation of trade) better than older currencies. I'm probably wrong though.
No, you are right. this I totally agree with, but for the moment Bitcoin is still a speculative tool and so far not very helpful to the greater economy. |
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These 5 months of continuous troll and uber bear posts were brutal.
Amen. And there will be bears all the way to $5000, you can bet on it. amazing. |
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I think $1000 is achievable on Monday. China and Mt Gox are history now
sounds crazy to me but hey when we hit that 'elbow' who knows what will happen. |
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The guy is not a bad EW analyst, but he is a slave to some trivial rules. if you know EW analysis, he has chosen the most complex interpretation of this chart, it hardly makes sense at all. there is a much simpler explanation to all this, and it's very bullish.
Truth is though, this could be a B wave within a much larger ABC correction (less likely than the beginning of V to 4000), but he labels the top of this to 600? rubbish analysis. The likely top in this situation is more like 800.
Dont take an EW analyst for 100% certain no matter how 'qualified'. EW analysts have very detailed expectations, which means we can enter and exit the market seamlessly and mechanically, however just like everyone else we cannot tell the future for sure.
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just an idea..... this is behaving impulsively.  |
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This old chestnut again?
I'll say the same as I did 6 months ago or a month ago.
We'll probably reach our old ATH by mid summer, and hit anywhere from $7000 to $12,000 before crashing down to $2000-$2500, possibly before year's end.
We should be above $10,000 for good by this time next year.
Unless something comes along to break Bitcoin before then.
who is chestnut? |
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seems to me like this  |
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Looks like we will be hitting 550$ mark within few hours.. now looking for 600$
It's NUTS. the levels we are about to break are going to make the hourly chart munt its self. In the last few hours we are actually accelerating! |
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Dont you guys think there is going to be a small correction ? a small dip ? I want the market to crash so I can buy in!!! Where is this flashcrash Rpetila predicted lol
 not likely to pass this trend line for a long time, but in the mean time Im expecting a dip to 490-520 |
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 seems like an over shoot. could correct deep. |
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