Being it wave 4 from the 16th of April is almost invalidated.
if we can get a five wave to terminate here in the next 2 days say (seems we have just begun wave iii) we may have a pinpoint buy opportunity around 380-420. This would cause a great big H&S pattern, and call for a possible B wave interpretation, so we can have ABC off 339. I do not see an interpretation that takes us to new lows any time soon. anybody? |
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Only one thing: Warren Buffett — 'Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'  but wait for the dump to finish first also |
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We will stabalize @ 447-502 for a shot time (hours) before dropping quickly to ~ 408 where serious resistance will be met.
Is this a fact? Not yet. It is an opinion based on analysis. So far it's close to on target. After an attempt at consolidation here we see a second sharp downturn. This is a good spot to log some puts.. I tend to agree although I dont expect a full retracement, tops 485. short target 420 short term. |
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too far too fast. I think a bounce up to 480 is possible and, by my eyes likely.
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I value peoples opinions that make robust cases. I asked Chessnut for this yesterday because his posts are so 1 dimensional. He and you just responded with insults.
... you never asked for anythng, you chose to mock me. I am not one dimensional, I am prepared to change my views. My trades have always got a breakout strategy, thats how I came to be short at 485. |
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I'm laughing at the fact that you actually think that A) this market is controlled by news and B) EW doesn't realize this fact.
EW professionals around the world are laughing at you right now. News IS the catalyst for EW movements a lot of the time, because news is really nothing but condensed SENTIMENT.
Good grief you are dense.
putting words in my mouth.... I understand completely that news is a catalyst. EW does realise this fact. but you are accusing me like a binary noob of holding a crystal ball..... I can see junctures, but I cant see the future. neither can you. |
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Classic butthurt bull.
You bought at 486 and made no profit. I sold at 475 bought at 480. Sold at 492 and am banking.
Where is your EW "science" now? God, no wonder so many people have you on ignore.
EW cannot predict news events.... it can tell when weasles like you are done bleeding though. why don't you do me a favour, and ignore me too? |
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it's only a blood bath after everyone who is subject to sell has sold. buy when there is blood, but make sure everyone is done bleeding. we gonna look for an impulsive exhaustion the EW folks will keep ya'll updated |
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Chessnut is in denial.
I told you Chessnut. I told you.
says the guy who bought at 475 then sold at 500. lol im not in denial Im short from 485. you didn't tell me that Alipay would ban it, and that cash deposits would stop. you just chanted there was not enough fresh fiat or some rubbish like that. |
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Not to tell you I told you so.
But I told you so.
When there isn't fresh fiat the market makes up bad news to give itself the excuse to sell off.
This will continue until fresh fiat arrives.
The weak link for Bitcoin is buying in with fiat. Governments can currently block that. We need a solution. eventually we will we paid with it for work or commodities. |
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I think we'll be testing 450's again. This is pretty much where it should end.
I dont think 450 is strong enough to hold this back. fundamentally, and technically. next stop is likely 400, that will give a good fight. much more price history there, and a fib retracement of the impulsive wave. |
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I think this news validates an impulsive wave down. C wave.  |
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this is fun. wonder how low it can go. historically, bad chinese news impulsively causes 800 yuan moves to the down side.
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It's very important period this. We are on the gate of breaking this downtrend but some volume is needed. Won't be good if we miss this opportunity.
hard to have big volume when there little ask depth and no one is selling. price will keep melting up slowly exactly  the volume and the bid come hand in hand. we might start to see a trickle of volume at say 600 or so |
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so how would they get a large stake? they could place a 100k BTC buy order on stamp. that would be terrible!
more plausibly, maybe they could steal 700k coins from gox. but why would you risk your stash failing to destroy a currency that you would most benefit from if it were successful? Incentive is written in the protocol, and it works outside the protocol too. decentralised cryptos currencies are here to stay, the big players know this. they also know that if they somehow manage to destroy bitcoin (HOW??) a new one will take over and their efforts will be in vein. the more bitcoins that governments and banks own, the more promising the future for bitcoin will be. sad but true.
The banking sector has created a derivatives market some 10-15 times greater than world GDP. The debt pyramid time-bomb that will take down the USD petrodollar system if the US don't ensure that everyone else crashes beneath them. Which I believe they will succeed in doing. Anyhow, in short, the large banks could just pull the money out a fkn hat if they wanted to. What is to stop a large investment bank from creating a some 'investment company entity' and then lending it (creating out of nothing) vast sums of money to do with whatever it wanted? Who is to say that they haven't already been doing it? acquiring large numbers of BTC in off-exchange transactions, buying a bit on exchange in order to create bubble conditions, using sell power to crash Bitcoin and raking coins back near the bottoms. Wash, rinse repeat. so they will buy the bitcoins you say? there is no way around it, if they buy them, they are handing out billions to speculators such as myself. the price would be $10K before they had a stash big enough to compete. they would be hundreds of billions of dollars poorer, and nowhere closer to destroying crypto currencies. there is simply no point in crashing bitcoin, if they cannot destroy it and every other cyrpto to come, it is check mate. how could they weave the fate of bitcoin into derivitives? there is no paper market for bitcoins, even JPM couldn't short 22 million bitcoins, although I welcome them to try. there are no legitimate exchanges for this to happen and apparently "no fresh fiat" either as some like to say. they want a stash only to hold, because they cant take the risk of not having any. |
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And if crypto was such a big threat to pre-exisiting financial houses, then they could:
A) Easily sabotage it, perhaps by taking a large stake and then engineering negative market trends into play.
B) Do the above and end up sitting on a whole big pile of Bitcoin and colluding between themselves to make Bitcoin as unstable and volatile as possible, and profit whilst doing so.
If the big banks could collude to rig the LIBOR rates, they can most certainly collude to rig Bitcoin.
so how would they get a large stake? they could place a 100k BTC buy order on stamp. that would be terrible! more plausibly, maybe they could steal 700k coins from gox. but why would you risk your stash failing to destroy a currency that you would most benefit from if it were successful? Incentive is written in the protocol, and it works outside the protocol too. decentralised cryptos currencies are here to stay, the big players know this. they also know that if they somehow manage to destroy bitcoin (HOW??) a new one will take over and their efforts will be in vein. the more bitcoins that governments and banks own, the more promising the future for bitcoin will be. sad but true. - but seriously, imagine you are a bank, and you own 700k bitcoins. thats something like 10% of all the coins currently. you have the power to make it succeed. Being the first crypto, and the most popular crypto, you have a high probability of succeeding. do you A; make it succeed and own 10% of the global share (nobody comes close with fiat!) while back stabbing all your competitiors, or B; do you try and destroy it, costing you millions and giving away an opportunity to somebody else. |
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6 hours ago, everyone started predicting an immanent price rise. I said at least 20 USD. No one started predicting an immanent price drop at that time, or since then. Now the price has risen from 480 to 505. How does that reconcile with your views on technical analysis, Jorge?
even though I have different ideas usually, I gotta say I really like Jorges TA. he keeps his head on when everyone is nuts, and more than half the time his analysis determines trend. I daresay I could make a buck using his signals with correct risk management skills. |
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I told you! Price is raising.
You're the only one who saw it coming. was he? Sarcasm. I think pretty much the whole forum saw it coming. oh right. could have fooled me with all the bears around yesterday. |
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two possible counts I see, one bullish, one bearish (but not very bearish) the fashion with which we break/not break 530-550 will be much revealing.   |
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I told you! Price is raising.
You're the only one who saw it coming. was he? |
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