Nice call, but it looks like the event was caused by an attempted "attack" selloff combined with a DDoS of the exchanges -- they may have timed it well as we were nearing the top of the "channel"... but ultimately it was not something that was or could have been predicted by charts.
Perhaps but its amazing how often these events fit within the larger trends though. |
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Excellent video, did make me lol. Mining litecoins!  shame I couldn't read some of the longer subs tho |
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 Bounce off the mid trendline. Which is one of the possibilities I described I might add.  |
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My best guess is that we'll slosh around near the top of the channel and perhaps break out, especially if there's good news. (However, if we do break out we may be in for a rapid reversion to inside the channel shortly after, barring a sustained stream of positive news.)
This is the rapid reversion to the channel I reckon. Kind of kicking myself I didn't sell a few when I saw the resistance approaching on my chart. Overbought at the top of the channel = good time to sell a few. Lets see if it gets as low as $60 .. |
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Don't buy anything you haven't already accepted might crash in value. If you can accept that possibility then buy it, they could go quite a lot higher before they crash.
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Might have a winner soon in the race to $100 |
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Pretty boring blogpost if you tell me. The only thing you're saying is there might form a bubble and people will either lose or earn money. No interesting comparisons against charts from other markets and no scientific references.
EDIT:
Interesting fact: 16 votes and Proudhon still didn't vote.
I think my blogpost is more interesting than your interesting fact though  My blog is something I do when I have some spare time, which isn't that much. If you can do better, go for it. I might even read it. |
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I've heard rumour that the Laika bank failed to open due to 'technical difficulties'
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Unbelievable! It's breaking out to the upside  $95 on Mt Gox now, need to stop people buying they're spoiling my lovely trend lines |
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Shameless plug of my blog I expect many people are looking at bitcoins parabolic rise of the last few months and wondering how it will all pan out. How high will it peak? Will it fall after it peaks? Is it a bubble about to burst? Will it just begin to flatten out? I recently spent some time looking at other historical bull runs, mainly in precious metals from 1980, to try and see what might be coming ... Read more http://afbitcoins.wordpress.com/2013/03/26/bull-market-tops/ |
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Not a chance of hitting $100 today. Price will stay at $90 for a while I reckon. Although it could even drop down to about $60 and still be in the same uptrend. It will hit $100 soon though, like within a week or so.
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Or... we break out I like your thinking!! |
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Just seen it. Yeah, Paxman, he's gotta be worth +$5 on the Mtgox price all on his own!
And I don't think the 'anti-bitcoin' guy was a muppet. He made reasonable points, but Trace Mayer countered them effectively.
If anything I thought anti-bitcoin-guy had it written all over his face that he had a wallet full of them  Haha maybe. The anti-bitcoin guy certainly didn't convince me. Did you hear him describe the problems with the gold standard  Enjoyed watching that link, Paxman seemed genuinely interested. |
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 ... it looks like we’ll probably meet resistance at the top of the channel. If the price drops we may find support at $75 ish where the middle of the channel is or somewhere just above $60 if we fall to the bottom of the channel. Perhaps we’ll just flatten out at $90 for a few days. |
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Anyone who sold < $60 does not know how to read accumulation distribution.
Please elaborate. Note, that as the two hour candles are declining in value the accumulation distribution actually rises. This means that volume is generally higher on candles with a high close location value, and the volume is generally lower on candles with a low close location value, eventually tipping the balance back to a positive money flow. And for a longer term indication that USD continues to flow into the exchange the 21 candle Chaikin money flow managed to stay in positive territory the entire time. This is enough to tell me to hold on. A shorter time scale might have led someone to a different conclusion, but I think that can be a dangerous way to try and gather information while on a parabolic slope. I would have to find evidence of a concerted and sustained reversal of money flow before selling. Believe me, I have been looking for it, and I have not found such evidence, so I have been holding on. While this rally may superficially appear to be similar to events of 2011 the devil is in the details. Comparing the details of money flow is enough to convince me that this rally is much more decisive, with less fear than was involved with the 2011 run up. There is a lot of confidence that new money is coming into the market.  Good post, will make a note to find out more about these money flow indicators. |
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Ah well ok, i might go with mini crash then although i think 'correction' sounds better.
I like seeing the different ways people approach technical analysis, thanks for the replies.
I'm not predicting how high this will go.. oh go on then, maybe I will, peak somewhere higher than $200, then eventual fall back below $50.
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Funny seeing all the topics appearing in this forum with CRASH!!!  If you're a bear right now you'll get hurt. This is how I'm viewing it, see following chart taken from my blog  ... Was there anything special about the region where it found support and bounced? I kind of think it matches the bottom of where I’ve been drawing in my new steeper channel ... http://afbitcoins.wordpress.com/2013/03/23/found-support/ |
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I've got some physical silver and a chunk invested in goldmoney with silver. I expect huge shifts in the silver price when the bankers lose control of the manipulation. They are like king canute trying to stop the tide. they will fail. It will be epic.
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Haven't voted as not sure I'd cash out my entire bitcoin stash, but I might sell some if or when i think a correction is due and likewise buy more when they seem cheap.
Price is moving so fast just now, bit too fast I think, which makes me wonder if I should think about cash some out. There will naturally be some steep corrections from time to time, if we hit a big enough bubble there will be a collapse at the end of it.
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