Pattern Recognition 101

[alexeft]

I like the chart but one thing troubles me. Does the self similar shape get bigger only vertically or horizontally as well?

[alexeft]

Now that I found the video....


https://www.youtube.com/watch?v=6bOy3RNyWME

[Benjig]

So what about the pattern that says we are going down before the rally? that is saying the chart

[EricTyle]

Cant figure out how to upload picture

http://imgur.com/MdaQ6cZ

If patterns continue, I'd say that we're looking at 4-5 mo for another rally and a gradual increase over the proceeding quarter year

[smoothie]

lol i see very little similarity. 

[bassclef]

looks much better on a log scale

[minerpumpkin]

looks much better on a log scale

Everything looks beautiful and simple on a log-scale!

[InwardContour]

So what about the pattern that says we are going down before the rally? that is saying the chart

The charts seems to tell the truth, we saw a little drop in these days (unexpected from me),
but now should be the right time to start this long awaited rally to a new all time high.

[yayayo]

You can always see what you want to see.

These patterns aren't that similar. If you can freely choose two timespans out of all the data, you will surely find some that are similar to some degree. That's nothing magic, because you would also find similarities in purely random data, if you are free to choose and have no restrictions on the extent of similarity.

Moreover, there is no proof that specific patterns in the past predict specific outcomes in future.

ya.ya.yo!

[BitcoinMillionaire]

Look familiar yet?

Yes, BABY! This is what's happening. I wish I could buy even more BTC... Son I could even be a Bitcoin BILLIONAIRE!

[giveBTCpls]

Yup, I also spotted this figure, you can even draw a nice fractal out of this data. I personally expect to test the 400's with a very steady price for a while, then something will trigger the price go ape shit to stablish new ceilings, of course this something always being more and more people being aware on bitcoin.

[trader001]

Technical indicator pointing price going down.

[DrG]

I wonder if the Chinese who were throwing money at BTC and LTC last year were looking at the graphs or if they were just doing something their friend told them to do.  How many people on this forum do you think are trying to get family and friends to invest without looking at graphs.

Some traders may trade on graphs but MtGox, Pirate, forks and SR don't follow fractal patterns.

[unpure]

I wonder if the Chinese who were throwing money at BTC and LTC last year were looking at the graphs or if they were just doing something their friend told them to do.  How many people on this forum do you think are trying to get family and friends to invest without looking at graphs.

Some traders may trade on graphs but MtGox, Pirate, forks and SR don't follow fractal patterns.

Some of the Chinese are just using bitcoin to get the money out of the country.