Heres a rough chart that I just made to update the down trend I've been looking at. Lines are drawn in pretty roughly, only one I'm confident with is top one. I think we'll have price decline down off $130 level, if we reach that high. Its another 1 month log chart 
Oh.
Mah.
Gawd.
/thread
fitty, i know this seems ridiculous to you, but this is worth man than you think. try to be more constructive  and thanks for answering my question, that was exactly it, afb. these look pretty robust and there's no doubt that the volatility is hiding a midterm downtrend. Thanks for supportive comment arepo. Don't know why people in the speculation forum slag off technical analysis so much. If you don't like it go to another forum. |
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Been playing around with the fit of the lines and come up with this, which is a bit modified from the chart I posted earlier. Hopefully it shows pretty clearly why I think the slope is how it is.  |
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what points are you using to define this channel? top line seems to have two, but bottom line only has one, unless you can argue for the significance of the top of that bull trap.
I'm not yet really sure about the positions of the lines but I think I may have nailed the slope of the trend pretty well. I first defined it in an image i shared on one of your threads in which the channel was shown shaded red, fighting an almost equal channel shaded green. It is also defined by the way it caused resistance when the price was under it as much as the behaviour since the price went inside |
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bull trap at 106. sad i want to have my coins worth 500. not going to happen.....ten years from now we will be like oh you remember nintendo 64?...er i mean btc. they were fun. those were the good days.
I've heard that comparison before, though I'm not sure who by. In 10 years time bitcoins might very well be still around a bit like how email is still around. |
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All graphs predicting the future are drawn with the author's bias in mind. Where the period of comparison starts and stops is purely up to the individual. I bet someone will soon post a graph showing that we're still in a massive once-in-a-lifetime bull market by simply starting the graph a little earlier.
Whats your point? On my blog I often draw lines going back earlier and state my long term bullishness. I was using this line to make a specific prediction. A bounce at $100 Anyway we got a bounce a shade lower than I predicted but not much. (And I did say $100 'give or take' in my initial post)  |
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It si below 100 USD  . Yes, so much for that theory |
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Guess we'll know shortly. And as I typed, the $100 wall halved.  Lol |
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This is the down trend we're in just now, looking for support at $100 give or take.  (chart taken from a bit earlier today, 1 month log chart) |
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 Looks like we're above the trend. Although maybe it is steeper now because of mining reward halfing? |
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The manipulators are planning world domination, this includes crushing, gold, silver, free markets, depositors savings. Bitcoins will be outlawed, made illegal, tarnished in the mainstream media. Regulations to close the main exchanges and regular Ddos on the main exchanges until then. Silk Road and any other popular markets that spring up will also be attacked with DDOS. They can't let free money exist.
I sense they are getting desperate control is slipping through their fingers, their last pump and dump hasn't killed off enthusiasm for bitcoins, already bitcoins are recovering from the crash. Muhahah
now this drivel is a waste of time and energy Just read some of your last posts n all matey, so enlightening, I'm actually in awe of your obvious sparkling wit and repartee |
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How longs it been down for now ?
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The manipulators are planning world domination, this includes crushing, gold, silver, free markets, depositors savings. Bitcoins will be outlawed, made illegal, tarnished in the mainstream media. Regulations to close the main exchanges and regular Ddos on the main exchanges until then. Silk Road and any other popular markets that spring up will also be attacked with DDOS. They can't let free money exist.
I sense they are getting desperate control is slipping through their fingers, their last pump and dump hasn't killed off enthusiasm for bitcoins, already bitcoins are recovering from the crash. Muhahah
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So long and thanks for all the fish
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Which way to break, up or down?  I'm saying up  |
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Good call Arepo thanks  it's Monday money -- i really don't understand all the bearishness around here.... that being said i'm anticipating an irresponsible and overzealous rise followed by a correction and then consolidation from there. i'm not sure we're yet ready for higher prices, but we definitely need a bullish correction to that panic selling we saw last week. --arepo p.s. keep an eye on the quoted text a few messages above, if we see a similar outcome it will be the second documented confirmation of the fractal hypothesis. You called that pretty well! Yes I agree there's way too much bearishness, I still keep getting wierd bearish impulses myself even hehehe. Its a fine line between the bull and bear scenarios just now. |
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Not a science more of an art I'd say.
Looks like support on that trendline isn't holding this time, can't be bothered drawing in the lines though. Thin volume, but on the market depth looks like price won't drop too much.
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Nice charts! Since that price crash I've been swinging between bearishness and bullishness. Long term I'm bullish, and short term tentatively bullish.
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Heres an update to that first chart  We did find support, now testing that line again |
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Bitcoin is increasing logarithmically, the real trendline should be plotted on a log scale. |
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