Bitcoin chart patterns (You ain't seen nothing yet)

[AlgoSwan]

Bitcoin Chart (as of June 4, 2015)



Gold Chart

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[conspirosphere.tk]

Make your guess on these:

[findftp]

Bitcoin Chart (as of June 4, 2015)



Gold Chart

You are right.
This is a picture of a tweet I made 2 months ago:

[NorrisK]

Ok, the charts look alike, but why would it follow that specific pattern? Because some people call it digital gold?

[eerygarden]

Ok, the charts look alike, but why would it follow that specific pattern? Because some people call it digital gold?

Because they want it to. When there is a will, there is a way.

[conspirosphere.tk]

Ok, the charts look alike, but why would it follow that specific pattern? Because some people call it digital gold?

in a sense, yes. But I don't think that bitcoin price is manipulated as much as gold price (yet).
But now both have the same reason to rise:
http://www.gramsgold.com/news/cashless-society-will-make-bank-runs-impossible-as-nations-begin-to-collapse

[inca]

Ok, the charts look alike, but why would it follow that specific pattern? Because some people call it digital gold?

in a sense, yes. But I don't think that bitcoin price is manipulated as much as gold price (yet).
But now both have the same reason to rise:
http://www.gramsgold.com/news/cashless-society-will-make-bank-runs-impossible-as-nations-begin-to-collapse

Of course it is manipulated. The only question is, by whom? If it is for-profit traders then that is fine. If it by our friendly central bankers then we might struggle on for a bit longer before price rises.

[AlgoSwan]

Ok, the charts look alike, but why would it follow that specific pattern? Because some people call it digital gold?

Because they want it to. When there is a will, there is a way.

No. If you know how to read/listen it, charts and chart patterns speak to you.

[Chef Ramsay]

Sorry but I can't see the halving making the price less than what it is right now w/ all the development between now and then. A year after that still flirting trying to break $300 plus more than 5 years to get into the $400 range is crazy.

[AlgoSwan]

Sorry but I can't see the halving making the price less than what it is right now w/ all the development between now and then. A year after that still flirting trying to break $300 plus more than 5 years to get into the $400 range is crazy.

Your calculation is wrong. My mistake. I should have note BTC chart as daily, gold as monthly. Please calculate it again with 1/30. What do you see?

[AlgoSwan]

MACD histogram divergences:

A bullish divergence occurs when prices trace a bottom, rally, and then sink to a new low. At the same time MACD-Histogram traces a different pattern. When it rallies from its first bottom, that rally lifts it above the zero line, “breaking the back of the bear.” When prices sink to a new low, MACD-Histogram declines to a more shallow bottom. At that point, prices are lower, but the bottom of MACD-Histogram is higher, showing that bears are weaker and the downtrend is ready for a reversal. MACDHistogram gives a buy signal when it ticks up from its second bottom. ~Elder

[randy8777]

Ok, the charts look alike, but why would it follow that specific pattern? Because some people call it digital gold?

as soon as certain charts show a similar movement, then they think bitcoin will follow the same line. they are basically trying to make themself happy believing bitcoin price will explode.

[kwukduck]

The problem is, gold is relatively unique, there are 500+ possibly superior cryptocurrencies to bitcoin.
Yea sure, network effect yadayada, you all know that's bullocks and people will choose the system that is most reliable and practical, unless huge changes are made in bitcoin, bitcoin will never be that system.
Some altcoins are very quickly gaining traction and for good reason, they are what people will want in the nearby future and will make bitcoin's ATH look like a joke.

[Bit_Happy]

Make your guess on these:

Great charts!
This is the future. When paper money is worthless BTC/Gold will be the standard for pricing.

[Brewins]

MACD histogram divergences:

A bullish divergence occurs when prices trace a bottom, rally, and then sink to a new low. At the same time MACD-Histogram traces a different pattern. When it rallies from its first bottom, that rally lifts it above the zero line, “breaking the back of the bear.” When prices sink to a new low, MACD-Histogram declines to a more shallow bottom. At that point, prices are lower, but the bottom of MACD-Histogram is higher, showing that bears are weaker and the downtrend is ready for a reversal. MACDHistogram gives a buy signal when it ticks up from its second bottom. ~Elder

I remember last time people are saying that BTC would rise because of some MACD thing.

The result was a big dump more or less soon

[AlgoSwan]

I remember last time people are saying that BTC would rise because of some MACD thing.

The result was a big dump more or less soon

You didn't read the chart. Don't you? Tipping point doesn't mean it will explode to upside. The chart teaches and shows how MACD histogram works greatly on BTC and almost all financial instruments stocks to bonds, etc.

The problem is, gold is relatively unique, there are 500+ possibly superior cryptocurrencies to bitcoin.

Check this out and tell me how unique it is  : http://www.rsc.org/chemistryworld/2015/05/complex-amines-iron-nitroarene-olefin-made-easy-cheap-baran

[coinableS]

The problem is, gold is relatively unique, there are 500+ possibly superior cryptocurrencies to bitcoin.

Check this out and tell me how unique it is  : http://www.rsc.org/chemistryworld/2015/05/complex-amines-iron-nitroarene-olefin-made-easy-cheap-baran

Kwuk is the resident veteran troll. He/she has been spouting nonsense and bologna for quite a while now. You should just ignore kwuk's post, the idea is to distract you and derail the conversation.  "bitcoin is worthless because there are endless number of superior altcoins shitcoins.  Yea okie doke kwukie

[kwukduck]

The problem is, gold is relatively unique, there are 500+ possibly superior cryptocurrencies to bitcoin.

Check this out and tell me how unique it is  : http://www.rsc.org/chemistryworld/2015/05/complex-amines-iron-nitroarene-olefin-made-easy-cheap-baran

Kwuk is the resident veteran troll. He/she has been spouting nonsense and bologna for quite a while now. You should just ignore kwuk's post, the idea is to distract you and derail the conversation.  "bitcoin is worthless because there are endless number of superior altcoins shitcoins.  Yea okie doke kwukie

The majority are shitcoins for sure, but we can't deny bitcoin has some serious issues that if left unattended will be its downfall.
Altcoins offering mining/consensus without wasting a lot of energy, fast confirmations, true anonymity, dynamic and fast blocksize and difficulty, truly distributed network. I could go on.