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Seem to be some doubters that you can have a chart pattern on a sloping line. So what is so special about horizontal ? Only a totally flat un-trending market can have chart patterns ? Chart patterns can play out on any slope.
Interesting to see that break out on Huobi. I usually look at BTC-E myself which is still well below the equivalent line.
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A car is about the worst store of value I could think of, unless it has loads of gold hidden inside it (or possibly it is an antique once owned by a famous person).
If I was greek I'd be doing what I'm doing now anyway, bitcoin, gold and silver, (with a couple of my fav alts thrown in)
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Maybe he meant a crash upwards ..
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not yet moon time, but were ready for a decent price movement. what do people consider "moon price" nowadays? $500? $1000?
One Billion Dollars !!!!! |
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i believe that head and shoulders need to be defined by a flat line, not a descending or ascending one. Otherwise its just noise on a trend.
Think we'll have to agree to disagree on that one my friend |
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Any takers for this chart pattern ?  |
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I'd say the 'end of the bear trend' is in progress but not official yet. Lots of bullish signals at the moment but before the rocket ship takes off bitcoin needs to get above the upper red trendline.  |
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The end of the bear trend gathers pace  |
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Of course I'm only playing along with OP. I don't really believe a millionaire would come on here asking us how to invest. And I doubt he is who he claims to be. Newbie poster trying to spread doubt, where have I seen that before?
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Answer to OP now is the best time to sell for you. Seems to me every response you have given so far indicates you don't believe in your investment so why hold any longer?
Some people seem that want everything. They want the instant gratification and convince themselves Bitcoin is dead, but in the back of their minds they know they are making a stupid move by cashing out all of their Bitcoins because anyone with half a brain knows BTC will be worth 10.000+ in the next 10 years. Just to be clear I'm not saying I would cash out now. I'm accumulating at these prices !  But in the specific case of KingAfurah who clearly doesn't believe bitcoin has a future why hold longer if you don't believe in your investment. He wants to buy Apple shares  |
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When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.
I dont think so, the user base is still not there for btc to be useful day-to-day and make people feel safe buying it to hold for a while. Gold and silver seem like the likely winners... It has never nor is it ever likely to be 'useful' for Chinese people. I'm sure a fair few do use it to squeeze around capital controls where they can, but the government was awfully quick to squash any possibility of day to day utility. (Not that I'm an expert but ..) For the chinese mentality I don't think its about usefullness of the tech but simply best place to gamble on huge gains. |
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When chinese stock market bubble burst I think the chinese will again go crazy for bitcoin.
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Answer to OP now is the best time to sell for you. Seems to me every response you have given so far indicates you don't believe in your investment so why hold any longer?
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After the recent break up through resistance on BTC vrs Gold chart, the recent rise in price in bitcoin has taken it above that dashed red line verus US$ too ... Although we are also below the bull channel I've been observing.  Heres data from BTC-E on log price scale with 4hr candles  Same chart zoomed out with 1d candles  And zoomed out even further.  |
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Thanks for this thread. Should be sticky !
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Some good charts but more depth to movement comes from the volume of trading at each price I think. If all while the price fells the volume has been lower then it rose on, it suggests a possible spike upwards is more possible then just examining the price alone.
If the majority of the volume was while falling then it helps confirm that direction
@STT Can't see volume on that chart of bitcoin price in gold, i think because it is a combination of two other charts, however i agree what you say, on BTCUSD volume looked quite high (on btc-e at least) when 'the bottom' was in and has been picking up since. Trapped between 50% and 61.8% fibs. sideways
I'm surprised you are still expecting the bottom to be in. Considering what is going on with the block debate, dark times ahead for BTC. No way this is the right time for price to go up considerably.
@Afrikcoin I am mainly only looking at what the chart tells me, which still to me looks like the bottom is in. Although you could be right of course. The blockchain debate is ugly though I agree completely there, once resolved that may persuade some big players to jump in and start the next pump. |
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Nice dump!  The price is dumping upwards. Is that what you meant, Kwukduck? |
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Time for another look at the end of the bear trend idea. Still inconclusive if this really is the end of the bear trend or there are more legs down. I still lean towards idea that the bottom is in (however still reserving funds to buy more bitcoin if it does fall further) So with the 'big crash' still not materializing, neither rocket ships to moon, all looking a bit stable just now. However when looking at bitcoin priced in gold instead of the usual US$ Long standing bearish trendline looks to be broken to the upside by this horizontal price. Is this foretelling what will happen versus US$ too ? Bitcoin priced in Gold Heres the same chart zoomed out. Bitcoin priced in Gold |
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Most alts have crashed further and harder than bitcoin during this bear phase, however as noted in OP it is interesting to see signs of them turning bullish in last month or so. Particularly ones which emphasise better anonymity.
I take it as another sign that bitcoin bear phase is coming to an end. I think in the next bitcoin bull phase many crytos will see bigger percentage gains than bitcoin.
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Despite all the scams (copycoins) which are mainly rebranded clones there IS actually also a lot of genuine innovation happening in certain alt-coins. At the moment I like Monero and Dash. Bitcoin may need to innovate to keep up but can it? A simple thing like increasing block size shows bitcoin may end up struggling.
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