I've been waving my hands around in the air, chanting, gazing at tea leaves and looking in a crystal ball AND drawing lines on charts

My prediction, good times ahead for bitcoin bulls

Lets be real. bitcoin is deflationary. Most the coin supply is already distributed. Central bankers and globalists are shamelessly using their control of fiat for all kinds of evil. But at the same time they are ruining the credibility of their bits of paper. And inflating it until its value hits zero. They know they are on their last fumes in the tank.  They will try to push CDBC on us. Don't let this happen. Bitcoin is for the people. Can't be censored. Keep your private keys in your control. HODL

Bitcoins dont give a shit about some DeFI centralised exchange going under. Seen  it all before, many times.

Heres the chart






We are bang on the low. Forget stock market correlation. Forget alt coins. Forget stocks and shares.

Buy bitcoin (and gold and silver)

Hold on tight

edit: My opinions though generally pretty good can be wrong. Your own trades or investments are your own risk.

Update: Thanks for the comments on this thread, they are much appreciated. I think I'll try and keep it alive and monitor the progress of my idea that this is the  cyclical minimum. I'll be looking at the market from a technical perspective based on long term trends.  
 

Less than a year ago people were saying bitcoin wont reach a thousand dollars.

That is all

A view of bitcoin all time highs being smashed

Here is what bitcoin looked like at one time at the start of 2013. Bitcoin all time high was around 32$ a bubble peak and after a huge correction the price had recovered enough to get close to that old bubble top.



Shortly after that it looked like this.



The all time high was smashed! The old all time high now looking like a shrivelled little bump.

Bitcoin found itself in a very similar formation not long after but at a much higher price level, this time the all time high was at about $260. Bitcoin at the time had recovered from the Silk Road Seizure and was once again close to an all time high.



Shortly after that it looked like this.



Again bitcoin proved the doubters wrong and the all time high was smashed!


Heres todays chart, once again the old all time high dominates but somehow bitcoin has recovered to challenge that old high



Who knows what happens next ??  

Edit:

As of end of October 2017, now looking like this

I looked at some tea leaves and I drew a few squiggly lines on this chart.



What do you think, which line fits best ?


NOTE : I've edited this post a lot since the original post which only had the blue line on it. Apologies for that.

EDIT : Added poll

DASH/BTC on log scale looking very healthy for Dash to have another leg upwards

Does anyone else that uses Trading View see these wierd candles on Bitstamp ?

Whats going on ?

Gradually then a bit steeper then steeper still until its a rocket ship  gently floating up through space

Hear me out. Could it be that full blocks are actually bullish, does this not show how much bitcoin is being used ? That bitcoin is still 'the' coin. Most altcoin blocks are less than 1% full I think
Or have I got this bat shit crazy idea wrong?

Meanwhile halving still getting ever closer

Just curious what peeps are thinking is in store for bitcoin. Where is bitcoin heading in 2016?

bearing in mind we are still only in January just now.

History repeats

Sharing an idea I've already posted elsewhere but heck, why not have it here too.

Chart should be self explanatory I think, heres bitstamp on log price scale, 1 week candles.



In log price chart there is a well defined bull channel, shown in green which goes back to 2012 (and possibly earlier if MtGox data were available). Recent spike up to $500 ended exactly on midpoint of the uptrending channel (supporting the validity for the trendlines). Other evidence for these trendlines is provided by the upper trendline of the channel which supported bitcoin multiple times while it was in bubble territory before finally giving way as the price went on to reach its post bubble low.

The recent spike is reminicent of ‘mini’ bubble in bitcoin in 2012 before the huge bull moves began.

So far horizontal resistance at $320 is still holding. If it fails then price should find solid support at around $270 ish which will be a great place to go long if it gets that low, with sell stop under the channel.

With bitcoin already very depressed after the collapse of the last bubble there is plenty of room on the upside. Bitcoin can get past previous all time highs while still in the channel, before even getting into crazy bubble territory.

For fun I’ve shown possible path price might take as the halving mania and price pump begins to take hold using some black arrows.

Comments welcome.

Thanks

BTW This is a self moderated thread but I doubt I'll be doing any moderation

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_continuation

As we all know many of us are holding Litecoin wondering how high this spike will go. Moon ?



I don't hold any Litecoin myself so I  mention this only out of passing interest but about now might be a good time to start thinking about taking profits.

I'm not saying Litecoin can't or won't go significantly higher but for me we are in a danger zone. Reason being this log chart.



The flatish, slightly bearish channel I've added in looks like it might be valid, note price is rapidly closing in on top of that channel, might shoot past some way, but eventually price will crash. Don't be the bagholder.

Disclaimer: I offer this only as opinion I won't take blame it it doesn't work out. (But might take some credit if it does though  )

Any takers for this chart pattern ?

I [think/predict/know] that bitcoin price will [rise/fall] and will settle in the $[23,000] price range in the next [5 years].  Looking at [insert some random reason] and [insert some random news story] I know I'm right.

Thanks to MF Doom for template, saved me a bit of work 

Did there not used to be a rule that newbies were confined to the Beginners section for a period of time. Has that been abandoned ? The speculation forum is plauged by regular new threads started by brand new 'newbies' accounts. They all appear to obviously be the same person behind these different accounts. Last one was called something like 'noone want this shitcoin anymore'.

Could we see the newbies again confined to beginners for initial period of time ?

The bears have had all the fun in the last year but is the end in sight ? At the moment market is awash with pessimism and negativity. Perfect time for a bottom to confound investors.



Chart is showing data from BTC-E exchange, using log price scale.

If bitcoin rallies up to the top of the bullish channel (marked in pruple lines) it will be finally pushing free from the bubble collapse.

There are several significant lows on that same lower trendline including the low point after the April 2013 'mini' bubble collapse, the bottom of the silk road siezure panic sell off and the wierd btc-e flash crash. If I'm not mistaken MtGox collapsed roughly to this level too in its death throws.

So was that the bottom? Any thoughts you'd like to share ?

Not against bearish opinions but please sensible discussion not ' ooo you don't know how to draw lines'

How can i change my avatar. I keep seeing a message that its not possible!?  

[Trendline reached]

Trendline reached



With price falling sharply bitcoin price has reached a trendline which goes back a long way on log scale. For bullish scenario you want to see rebound off that line from hereabouts. Be wary of conceeding support as broken too soon though, small spike below that line would not be surprise. I reckon a run back up to top the channel could be on the cards. What you think ?