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I'll give kwuckduck same advice i gave to mat, sooner you switch to being a bull the quicker you'll profit. the trend is no longer your friend, you're swimming against the current now.
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Ah well, since this thread is still hanging around I'll post another update. Bull fork still very much in play. Heres 4hour log chart  Bitcoin finding resistance on one of the trendlines, looks like it wants to break up and test the middle line of the fork again which was where it reached on the last spike the other day. Heres zoomed out view of same chart for perspective.  Outlook bullish |
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Bitcoin appears very bullish, even staying below this line the trend is up, however we could easily see if break up again and charge towards next resistance line at $460.
It looks very much like bitcoin is bullish again.
I called it right on this thread and wrong on my blog later on  I'm guessing there'll now be a period of consolidation but to me the bull trend seems pretty clear on longer timescales. edit. btw thanks for your last comment on my thread Afrikoin  |
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Stupid ass TA
You got that right, but you try telling all the techies here. Honestly, I'd love to know how much money the technical analysis devotees on this forum have made as a result of being able to predict the price of bitcoin. I say it can't be done. Maybe it can't be done but I'm quietly pleased with when I accumulated more bitcoin |
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Hold or trade with caution.From my blog..I have a sneaky feeling bitcoin’s current rise is too much too soon and will soon correct. I could be wrong so trade with caution. More info here. https://afbitcoins.wordpress.com/2015/12/11/hodl-or-trade-with-caution/Not getting much response on this thread anymore so thinking to sign off with this. In closing, I still think bitcoin is primed for huge bull moves early next year. Safest play is HODL
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UpdateBitstamp with 4hour candles  The price didn't drop to bottom of fork as per my last update, instead breaking upwards through some levels of resistance. However this slope looks valid. Bitcoin more primed than I thought. In case anyone is interested in how the fork is defined heres a zoomed out view using 1 day candles.  I'm still wondering if there will be a bear phase retesting bottom of the channel mentioned in my Opening Post. But $320 looks like might be solid as a floor Anyway I consider that my idea of bitcoin being primed for lift off looks valid. In this thread I will continue to test that idea.
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Hello nights watch.
Heres an updated look my bullish fork which was posted previously.
/snip
What we can see is price did not fall to the bottom of the fork which was my target but instead managed to break up to head upwards to the next trendline of the fork. Resistance at $400 matches where this next trendline lies.
Bitcoin appears very bullish, even staying below this line the trend is up, however we could easily see if break up again and charge towards next resistance line at $460.
It looks very much like bitcoin is bullish again.
thanks! Was going to ask you for an updated chart of the same, you read my mind. Now, about your chart, looks like me could make a drop to $ 360. I could be wrong Yes it could do that without invalidating the bullish trend, main thing I'm looking for is to see support and resistance where the lines are. Have a feeling its more likely to go up than down but that might just be my personal bias coming through. |
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Hello nights watch. Heres an updated look my bullish fork which was posted previously.  What we can see is price did not fall to the bottom of the fork which was my target but instead managed to break up to head upwards to the next trendline of the fork. Resistance at $400 matches where this next trendline lies. Bitcoin appears very bullish, even staying below this line the trend is up, however we could easily see if break up again and charge towards next resistance line at $460. It looks very much like bitcoin is bullish again. |
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I'm thinking it might explode up to $460 in next day or two.
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This is idea I'm exploring at the moment, on 4 hour chart looks like we're hitting resistance on one of the bullish trendlines.  (However on 1 day chart a similar fork already looks to be broken upwards.., still in doubt over which is best one to use ) In either case I think the trend is up and sooner or later $400 will be surpassed. |
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I am quite positive that we are in an uptrend now. Things seem to be moving slowly but the quick rise from 250->500 proved that BTC is not tamed. The superspike will be crazy  Yes thats my thoughts too. Bitcoin seems more and more obviously turned bullish, in large part in anticipation of the upcoming halving but other factors influencing it too of course. Trend is bullish  |
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Matt I think you need to re-assess, bitcoin has turned bullish, sooner you realise this the more you will profit.
IN any case this thread has lost credibility when the head n shoulders pattern failed to work out
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If you sell planning to buy in cheaper but then market goes up instead, then you are fucked another way. No pattern is guaranteed. And for me the overarching trend is bullish, safest play is hodl at least until after the halving mania next year. If you day trade you might get lucky or you might end up with a smaller stack. There is risk in betting too much on a potential head n shoulders pattern.
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Let's say a 2015 US dollar can buy a dozen eggs. At the exchange rate today that's about BTC0.0028. If Bitcoin goes to $1,000,000(2015)/BTC tomorrow like people dream about (and that dozen eggs still costs just $1(2015)) then that dozen eggs will effectively cost BTC0.000001=100 Satoshi.
If the US dollar inflation rate is severe and a 2046 US dollar is worth only 0.1% of a 2015 US dollar then the eggs will cost $1,000(2046). If the Bitcoin exchange is unexpectedly/unlikely still $360(2046)/BTC then it would take BTC2.78 to buy the eggs in 2046. If the exchange rate exactly matched the inflation then it would be $360,000(2046)/BTC and the eggs would be BTC0.0028.
If the Bitcoin exchange rate outperforms inflation and is worth $1,000,000(2015)/BTC that works out to $1,000,000,000(2046)/BTC which is well short of 1 Satoshi being worth $1,000,000.
To reach 1 Satoshi being worth $1,000,000(2046) we would have $100,000,000,000,000(2046)/BTC; if we constrain ourselves to a maximum exchange rate of $1,000,000(2015)/BTC then the US dollar inflation rate would have to be much much worse.
So that was a No ? |
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Normally I pay most attention to longer timescales but this fork on the 4 hour chart has me interested at the moment. Looks like bitcoin is failing to get above resistance might take a dip down towards the area marked with a circle  Nice bullish fork to follow though. |
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Just trawled through many pages of shit fighting Dash vs Monero again. Good grief they really don't let go.
Listen I know about pros and cons of Monero, I know about pros and cons of Dash. I'm here to hear about Dash not Monero. If I want to hear about Monero I'll head off to the Monero thread.
Haven't these Monero people got some code to work on or something?
Nice to end on a laugh though, that budget proposal for smooth gets my vote
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snip/ The Fed will likely raise interests very soon by a fraction of a percentage point just to signal that the system is not bricked.
Like the boy who cried wolf too often its getting harder to believe each time they say they 'might' raise rates. |
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It looks a bit like a giant RSI indicator. or is it just me?
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Very interesting to see how low we are on this index which I take to mean there is huge potential upside if log increase is to continue.
I'm not totally clear how this is worked out though. Does this sound about right? It takes historical data and calculates a mean exponential rise based on all data points accumulated to date. Then shows how far above or below that mean we are currently ?
sumthin' like that ?
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