Chart experts please weigh in

[Xiaoxiao]

Looking at the 1-3 day charts for the BTC markets, are we looking at a descending triangle or wedge, or neither?

[Bejkn]

I feel it is more like a patient's ECG

[Shatoshi]

All I can say is there aren't nearly enough lines cutting across that chart! 

I feel it is more like a patient's ECG

[Bejkn]

All I can say is there aren't nearly enough lines cutting across that chart! 

I feel it is more like a patient's ECG

what i mean for the charts is that the patient was going to die...

[RyNinDaCleM]

IMO, The proposed wedge has played out with the throw-over to $152. Since nothing came of it in the form of violent break out, I believe it wasn't ever a wedge in the first place, and it shows serious weakness in bullish attempts at rallying.

[Torque]

IMO, The proposed wedge has played out with the throw-over to $152. Since nothing came of it in the form of violent break out, I believe it wasn't ever a wedge in the first place, and it shows serious weakness in bullish attempts at rallying.

Because TA works in the bitcoin world!

[SirChiko]

IMO, The proposed wedge has played out with the throw-over to $152. Since nothing came of it in the form of violent break out, I believe it wasn't ever a wedge in the first place, and it shows serious weakness in bullish attempts at rallying.

Because TA works in the bitcoin world!

What is TA?

[RyNinDaCleM]

IMO, The proposed wedge has played out with the throw-over to $152. Since nothing came of it in the form of violent break out, I believe it wasn't ever a wedge in the first place, and it shows serious weakness in bullish attempts at rallying.

Because TA works in the bitcoin world!

Glad you see it my way

[NotHatinJustTrollin]

IMO, The proposed wedge has played out with the throw-over to $152. Since nothing came of it in the form of violent break out, I believe it wasn't ever a wedge in the first place, and it shows serious weakness in bullish attempts at rallying.

Because TA works in the bitcoin world!

Ehm... yes it does?

[Amph]

IMO, The proposed wedge has played out with the throw-over to $152. Since nothing came of it in the form of violent break out, I believe it wasn't ever a wedge in the first place, and it shows serious weakness in bullish attempts at rallying.

Because TA works in the bitcoin world!

What is TA?

technical analysis i think, unless he mean something else

[stonerider]

Looks like the patient's on life support.

[SirChiko]

IMO, The proposed wedge has played out with the throw-over to $152. Since nothing came of it in the form of violent break out, I believe it wasn't ever a wedge in the first place, and it shows serious weakness in bullish attempts at rallying.

Because TA works in the bitcoin world!

What is TA?

technical analysis i think, unless he mean something else

Oh i see, but that's bullshit as then anyone could predict the maket price anytime and profit with no problem..
That would be like fortune telling lol.

[atlosas]

If price breaks 236 we will see a drop to 215 or smth. If not, i don't know

[techgeek]

All this TA talk and about trendline really doesnt predict which way its going actually go.

But, if people call it on the spot of its for sure going to that direction that person must have some insight. Either if its a dox ready to happen to form a gridlock on mt.gox old days if thats possible and do it with the current exchanges.

As for the comment on not seeing a break out, yeah I cant see it either because the chart isnt zoomed to 1 hr time frames, 15 mins if I`m a intra day trader.

[afbitcoins]

You want some TA, should check my blog 

Here goes, chart is showing data 1 week candles, BTC-e on linear price scale



Bottom line has been hit by significant lows, have we already seen the bottom of the bubble correction ?

Bearish red trendlines are being broken through to upside as price starts to level off (although this is not yet the case when viewed on log price scale)

Hypothesis. This looks like a great area to accumulate bitcoin for long term holding prior to future bull trend, probably culminating in even more gigantic bubble at some point in next couple of years.

[ensurance982]

Much too early to sam something about a current new local falling wedge, actually. We've just left a falling wedge on the 6h chart. If we go above $315 at this moment we're leaving every major bear-trend. This could go up big time!

[WhatTheGox]

Much too early to sam something about a current new local falling wedge, actually. We've just left a falling wedge on the 6h chart. If we go above $315 at this moment we're leaving every major bear-trend. This could go up big time!

We are still going up for a while now guys who are bear are in denial.  Most of the holders just dont care about selling any lower then we are at right now, whats the point, so obvious we see new ATHs in next 1-2 years.

[ensurance982]

Much too early to sam something about a current new local falling wedge, actually. We've just left a falling wedge on the 6h chart. If we go above $315 at this moment we're leaving every major bear-trend. This could go up big time!

We are still going up for a while now guys who are bear are in denial.  Most of the holders just dont care about selling any lower then we are at right now, whats the point, so obvious we see new ATHs in next 1-2 years.

I wouldn't be this optimistic just yet. I'm also bullish and wouldn't want to short right now, but this isn't a sure think already. We could very well still go down and continue the downtrend. Don't want to use the clichee "next days/weeks are critical" but, yeah... that's just what they are

[Q7]

If it is a descending triangle pattern, there should be an almost flat line formed by the support level just by plotting it using all the low points, so I don't it's the case. Right now it looks more like a falling wedge going on a downtrend pattern. But as I always believe, technical analysis always ends up telling you one thing and the next, it just suddenly change. So don't bank on it all the time.