Ehmmm...no??

But I am not a very reliable source for answers like this

Pariah

In case you missed it:

https://bitcoin.org/en/bitcoin-core/capacity-increases

Cause PnF TA does not work...

Not sure about other TA tools but Point & Figure does NOT predict the future.

It actually confirms what a whale or new will do to the price.

So it gives you a degree of certainty when the price breaks out that the trend is indeed strong.

It helps you go with the trend and not fight it.

What may seem as a prediction to someone is that it tells you where strong support/resistance is and what is the current trend (and when this change).

I like to say it is like a map - it does not tell you where or how to go somewhere but you need it in order to travel.

We may drop but China won't stop buying. They have many reasons to continue doing so.

I expect worst case scenario a dump at 365 area, best case 435 area.

(If we indeed drop).

I shorted at 464 with a stop at 468.

Livecoin is down for me - does it have historical prices? That's what I need.

I have not included yet btce API to my exe, maybe in the future.

I lack data from btc-e man 

437 is the price to watch:

Bitfinex 30m HL 1%x2



Just saw this, alts are irrelevant now, it is up to btc...

Why is XRP so active?

That's why you should never use volume (especially in BTC 0 fees exchanges) as an indicator. Price itself is the ultimate indicator.

Also, it is not only that volume brings price action - the opposite happens often.

Proof is the period of stealth price increase posted upthread.

Wow, I had to look at XRP for ages!

If BTC tops here I agree. Also, I see a nice XRPBTC double bottom (3d)!

What worries me though (in case BTC collapses) is not the XRPBTC pair but the XRPUSD one...

Just wanted to share my thoughts on this (not PnF related).

I think these bots (Market Maker, whales, or whoever they are) generally respect the long term trend (currently bullish) and try to push traders in the opposite direction with smaller term trends.

So if it it trending upwards they try to scare holders where if it is bearish they try to make you buy on the resistances ('It will breakout!' - but you get dumped).

PS: The chart I posted was a short term one, just wanted to clarify this.

Trap would be only 1 box lower low and then higher high (it did not happen).

BTW the fulcrum pattern was obviously not completed and the 396 close did indeed gave lower prices. 390s holds for the moment.

Be careful for a bear trap.

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:pnf_charts:pnf_basics

For the time being ignore the last charts, they are a special case (1 box reversal).

Read the basics in the link I posted.

Updated. Looking at it again I am bullish, we made a nice double bottom with higher lows*. Now the accumulation/distribution at 397-398 is more clear, I think we will soon breakout.

We have a last resistance in the 405 zone though.

*EDIT: Also a higher high.

In case we fall we will visit at least the 388-390 closing prices. Below that I don't know, I would risk to say it will not hold.

Bitfinex 30M CLOSE 1x1


This is a fulcrum (continuation pattern). In order to confirm the pattern we need to keep on climbing in the right channel and close 30m at least at 402.

Closing at 396 is a sell.
If we go sideways for 2-3 more columns we will probably go down too.

Even closing at 399 would be a buy IMHO.

So it is 396 or 399 if it happens SOON, if we keep bouncing 397-398 for a couple of more columns (so about 2-3h at most), it is going down.