Bitcoin says ''Fuck you''

[KSGuy]

basically we are expecting a small rally to 72 dollars, and then a further decline to who knows what according to this TA
i bet  we will be in the high 50's by friday

I hope so, that's my mark to buy more. 

[tokeweed]

Bitcoin has sent a little message to all the bears today:



Be warned bears, don't fuck with the Bitcoin.

lol. bitcoin says to bulls:  SUCKERS!!!  then bitcoin proceeds going down to 50.

[byronbb]

That is what is known as a "Head and Shoulders" pattern. A reversal pattern. That one is the type that breaks down. There is also an "inverse H&S" which breaks up.

http://www.investopedia.com/terms/h/head-shoulders.asp

You're welcome

Edit: Too slow, samson beat me to it

Edit #2: We had one at the $166 top which played out perfectly

Interesting. Because while I don't believe in TA, (epecially for bitcoin lolretard), people do. I have always seen TA as a voodoo that people think is real only so smart guys who can move markets can paint a picture for them. When you say it played out at $160, people are now primed to think it will play out again, and that's when you pull the rug..... but obviously just a thought, downside risk seems all too very real.

[RyNinDaCleM]

That is what is known as a "Head and Shoulders" pattern. A reversal pattern. That one is the type that breaks down. There is also an "inverse H&S" which breaks up.

http://www.investopedia.com/terms/h/head-shoulders.asp

You're welcome

Edit: Too slow, samson beat me to it

Edit #2: We had one at the $166 top which played out perfectly

Interesting. Because while I don't believe in TA, (epecially for bitcoin lolretard), people do. I have always seen TA as a voodoo that people think is real only so smart guys who can move markets can paint a picture for them. When you say it played out at $160, people are now primed to think it will play out again, and that's when you pull the rug..... but obviously just a thought, downside risk seems all too very real.

The one mentioned in the OP has already finished it's move out of the H&S pattern, so no rug pulling today
Usually they take anywhere from days to weeks to form and complete, so today's pattern was likely not an actual H&S and just coincidentally looked and finished like one.

This is the one I was referring to though.

[Kazu]

Bitcoin has sent a little message to all the bears today:



Be warned bears, don't fuck with the Bitcoin.

uh

not to be a party pooper but

isn't that a bearish head and shoulders formation?

[RyNinDaCleM]

Bitcoin has sent a little message to all the bears today:



Be warned bears, don't fuck with the Bitcoin.

uh

not to be a party pooper but

isn't that a bearish head and shoulders formation?

The irony ITT is quite stunning!

[Miz4r]

Bitcoin has sent a little message to all the bears today:



Be warned bears, don't fuck with the Bitcoin.

uh

not to be a party pooper but

isn't that a bearish head and shoulders formation?

Yes it is, but quite meaningless on such a small timescale and the entire formation already ran its course. As a bull in a bear market I just found it more satisfying to target the bears. Bitcoin doesn't care either way and said 'fuck you' to us all while it continues to do whatever it wants to.