ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
|
|
August 14, 2012, 01:57:04 PM |
|
very graphic, but to be honest this doesn't make me wanna buy more bitcoins.
Good, I don't want you to buy bitcoins... the more you buy, the more expensive they become for me Cool my bids will be there once you panic sell them. Since it has to be graphic:
|
|
|
|
TraderTimm
Legendary
Offline
Activity: 2408
Merit: 1121
|
|
August 15, 2012, 03:59:23 AM |
|
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
|
fortitudinem multis - catenum regit omnia
|
|
|
FreeMoney
Legendary
Offline
Activity: 1246
Merit: 1016
Strength in numbers
|
|
August 15, 2012, 04:04:28 AM |
|
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
I'd say the "Top at 12.16" theory is roasted at around 12.17.
|
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
|
|
|
ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
|
|
August 15, 2012, 04:30:17 AM |
|
OP said something about fib resistance levels.
So that would be $32*(1-1/phi) = 12.2229124
|
|
|
|
adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
|
|
August 15, 2012, 04:44:35 AM |
|
OP said something about fib resistance levels.
So that would be $32*(1-1/phi) = 12.2229124
notice the key word... 12ish is the "fib resistance" are we seeing any resistance right now?
|
|
|
|
ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
|
|
August 15, 2012, 04:46:26 AM |
|
well the Fibonacci ratios converge to the golden ratio so what's the point? tbh I never understood the obsession with it, it's numerology imo. Well we'll find out pretty soon if we move beyond it. I guess it's something like 32*(1-5/8)=12 to 32*(1-8/13)=12.3076923 or something.... numerologists
|
|
|
|
waveaddict
|
|
August 15, 2012, 07:02:42 AM |
|
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
In theory, there is no actual price that invalidates the B-wave possibility. In practice, a B-wave typically retraces to 38.2%-50% Fibonacci retracement level of the preceding A-wave in a zigzag (5-3-5) corrective as opposed to around 100% in a flat (3-3-5) corrective. Now, because the move off $2 was composed of 5 waves higher within a basic channel, the flat option was invalidated leaving the zigzag. In short, if the price heads above $13.46-$17 (38.2% - 50% Fibonacci retracement off a $32-$2 A-wave), the price is likely heading above $32 in a 3rd wave. Until then, the B-wave is just as likely as a 3rd. Also keep in mind that, if this is a B/X-wave moving higher, it doesn't necessarily need to head below $2 in a vicious C-wave after it completes before heading much higher. In a very large triangle or combinational corrective, the price could head sideways between $32 and $2 for years before finally taking off.
|
|
|
|
kano
Legendary
Offline
Activity: 4592
Merit: 1851
Linux since 1997 RedHat 4
|
|
August 15, 2012, 09:52:16 AM |
|
Last price: $12.35999 High: $12.40493 Low: $11.92500 Volume: 45391 BTC Weighted Avg: $12.18958 Mt. Gox Well it certainly went above $12.16 already ... Though I guess the reality of it was that you said it was going to be $12.16 ... unless it went over $12.16 ... then just say that the new high doesn't invalidate the theory ...
|
|
|
|
cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1010
Let's talk governance, lipstick, and pigs.
|
|
August 15, 2012, 12:58:42 PM |
|
well the Fibonacci ratios converge to the golden ratio so what's the point? tbh I never understood the obsession with it, it's numerology imo. Well we'll find out pretty soon if we move beyond it. I guess it's something like 32*(1-5/8)=12 to 32*(1-8/13)=12.3076923 or something.... numerologists I prefer Canadianology. You double it and add thirty, eh.
|
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
|
|
|
ruski
|
|
August 15, 2012, 01:26:50 PM |
|
A potential top @ $12.16 Last Trade 12.44
|
|
|
|
BrightAnarchist (OP)
Donator
Legendary
Offline
Activity: 853
Merit: 1000
|
|
August 15, 2012, 01:48:17 PM Last edit: August 15, 2012, 04:24:18 PM by BrightAnarchist |
|
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
In theory, there is no actual price that invalidates the B-wave possibility. In practice, a B-wave typically retraces to 38.2%-50% Fibonacci retracement level of the preceding A-wave in a zigzag (5-3-5) corrective as opposed to around 100% in a flat (3-3-5) corrective. Now, because the move off $2 was composed of 5 waves higher within a basic channel, the flat option was invalidated leaving the zigzag. In short, if the price heads above $13.46-$17 (38.2% - 50% Fibonacci retracement off a $32-$2 A-wave), the price is likely heading above $32 in a 3rd wave. Until then, the B-wave is just as likely as a 3rd. Also keep in mind that, if this is a B/X-wave moving higher, it doesn't necessarily need to head below $2 in a vicious C-wave after it completes before heading much higher. In a very large triangle or combinational corrective, the price could head sideways between $32 and $2 for years before finally taking off. This. Thanks for posting something intelligent, in contrast to all the snickering posters who don't understand enough wave theory to comprehend the nature of the idea, or the specific fact that I said it's a potential wave count with some real merit to it and not even remotely meant to be an exact forecast, especially in the short-term. Again: Since then we've done an even smaller a-b-c to form the B wave, which should end eventually with a nice lower high, potentially at around $12 (but there's a wide range here, I'm just making a guess based on volume).
I've lost some respect for some of the other commenters.
|
|
|
|
Joe200
|
|
August 15, 2012, 02:53:42 PM |
|
August 9th was a failed push down (inverted cross doji on high volume). Since then, the price has been drifting up on relatively low volume. Unless we see volume pick up, this could be similar to a dead cat bounce. Watching cautiously.
|
|
|
|
RodeoX
Legendary
Offline
Activity: 3066
Merit: 1147
The revolution will be monetized!
|
|
August 15, 2012, 05:46:35 PM |
|
How come when I look at those charts I just see a bunch of made up lines having no connection to future prices. Almost all the *real money I have made on wall street has been by betting against the "experts". It is a well known fact among traders that market gurus almost never do better than random chance. In the time I have been here I have seen countless such threads and they never pan out.
|
|
|
|
cheat_2_win
|
|
August 15, 2012, 05:49:18 PM |
|
How come when I look at those charts I just see a bunch of made up lines having no connection to future prices. Almost all the *real money I have made on wall street has been by betting against the "experts". It is a well known fact among traders that market gurus almost never do better than random chance. In the time I have been here I have seen countless such threads and they never pan out.
+1
|
|
|
|
Joe200
|
|
August 15, 2012, 05:58:20 PM |
|
I want the price to drop a lot so I can buy more. MOER! Is anyone here actually buying? I am getting dizzy at these heights.
|
|
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
|
|
August 15, 2012, 06:10:42 PM |
|
According to these charts the price will be going higher:
___/
|
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
|
|
|
Beta-coiner1
|
|
August 15, 2012, 07:11:01 PM |
|
I think the pricing will go higher simply because of the economic collapse in Europe followed by the difficulty increase.Unless some 'tard with a lot of BTC decides to just sell a huge amount to affect the current rally.
|
|
|
|
TraderTimm
Legendary
Offline
Activity: 2408
Merit: 1121
|
|
August 15, 2012, 08:10:26 PM |
|
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
In theory, there is no actual price that invalidates the B-wave possibility. In practice, a B-wave typically retraces to 38.2%-50% Fibonacci retracement level of the preceding A-wave in a zigzag (5-3-5) corrective as opposed to around 100% in a flat (3-3-5) corrective. Now, because the move off $2 was composed of 5 waves higher within a basic channel, the flat option was invalidated leaving the zigzag. In short, if the price heads above $13.46-$17 (38.2% - 50% Fibonacci retracement off a $32-$2 A-wave), the price is likely heading above $32 in a 3rd wave. Until then, the B-wave is just as likely as a 3rd. Also keep in mind that, if this is a B/X-wave moving higher, it doesn't necessarily need to head below $2 in a vicious C-wave after it completes before heading much higher. In a very large triangle or combinational corrective, the price could head sideways between $32 and $2 for years before finally taking off. This. Thanks for posting something intelligent, in contrast to all the snickering posters who don't understand enough wave theory to comprehend the nature of the idea, or the specific fact that I said it's a potential wave count with some real merit to it and not even remotely meant to be an exact forecast, especially in the short-term. Again: Since then we've done an even smaller a-b-c to form the B wave, which should end eventually with a nice lower high, potentially at around $12 (but there's a wide range here, I'm just making a guess based on volume).
I've lost some respect for some of the other commenters. I understand that wave theory presents these possible outcomes, just was wondering if there was any money-management behind the trades. If the original poster has stops or limits that would take them out, I'd be interested to know what price that would be. Thanks.
|
fortitudinem multis - catenum regit omnia
|
|
|
Tomatocage
Legendary
Offline
Activity: 1554
Merit: 1222
brb keeping up with the Kardashians
|
|
August 15, 2012, 08:20:40 PM |
|
Quick question - for the original poster - at what price is your theory invalidated? (Mental or literal stop-loss?)
13.16?
14.16?
Just curious.
I'd say the "Top at 12.16" theory is roasted at around 12.17. ROFL
|
|
|
|
BrightAnarchist (OP)
Donator
Legendary
Offline
Activity: 853
Merit: 1000
|
|
August 15, 2012, 11:11:11 PM |
|
I understand that wave theory presents these possible outcomes, just was wondering if there was any money-management behind the trades.
What trades? If the original poster has stops or limits that would take them out, I'd be interested to know what price that would be.
I am long BTC without a stop and believe the B wave potential is still on the table and may present a buying opportunity in the future. I've said this several times already.
|
|
|
|
|