Fakhoury (OP)
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Permabull Bitcoin Investor
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August 06, 2015, 04:54:47 PM Last edit: August 29, 2015, 12:55:23 AM by Fakhoury |
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Hey all, I've saw this chart on TV by BuyBitcoins and my gut says that it may happen, why not ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.gyazo.com%2F051151ce7a965a10498e79f156eeebb8.png&t=665&c=7dErRU9t6JHwxw) The wave pattern is called "Descending Triangle Wave Pattern" ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fblog.forex4you.com%2Fwp-content%2Fuploads%2F2014%2F01%2Fconvergent-Elliot-waves.png&t=665&c=Pla179vY1lj8Jw) What do you think ?
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Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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RyNinDaCleM
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Legen -wait for it- dary
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August 06, 2015, 05:32:39 PM |
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Hey all, I've saw this chart on TV by BuyBitcoins and my gut says that it may happen, why not ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.gyazo.com%2F051151ce7a965a10498e79f156eeebb8.png&t=665&c=7dErRU9t6JHwxw) The wave pattern is called "Descending Triangle Wave Pattern" ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fblog.forex4you.com%2Fwp-content%2Fuploads%2F2014%2F01%2Fconvergent-Elliot-waves.png&t=665&c=Pla179vY1lj8Jw) What do you think ? If you will notice, a descending triangle has a flat horizontal lower bound. This has an ascending lower boundary so it's considered a symmetrical triangle. But yes, there is a very good chance this is a triangle. However, I don't know how he came up with $380 as his target. That would be a 100% extension of the rise we've already seen. If this is a wave 4 triangle, then the target would be lower than that. Using typical triangle thrust targets, I expect the area of the blue box as the target. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.sierrachart.com%2Fimage.php%3Fl%3D1438882601484.png&t=665&c=cF5C9N3x88nFUg) This is assuming this lopsided triangle is complete at this time.
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ashour
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 06, 2015, 06:11:10 PM |
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This spike looks too optimistic to happen. Lines on charts aren't accurate they are like hand reading for trading. $300 seem more possible than $380, only time will tell.
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premium_domainer
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August 06, 2015, 07:01:53 PM |
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Yes. Might be next stable point is $330 (nearby) likewise $240 to $280 stable. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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randy8777
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August 06, 2015, 07:58:32 PM |
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there is way too much selling pressure at this point to go over $300. beside that, a lot people have had plenty of time to buy coins and are waiting for the price to go up. seems everyone is waiting, sellers and buyers.
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AtheistAKASaneBrain
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 07, 2015, 03:14:09 PM |
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Hey all, I've saw this chart on TV by BuyBitcoins and my gut says that it may happen, why not ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.gyazo.com%2F051151ce7a965a10498e79f156eeebb8.png&t=665&c=7dErRU9t6JHwxw) The wave pattern is called "Descending Triangle Wave Pattern" ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fblog.forex4you.com%2Fwp-content%2Fuploads%2F2014%2F01%2Fconvergent-Elliot-waves.png&t=665&c=Pla179vY1lj8Jw) What do you think ? If you will notice, a descending triangle has a flat horizontal lower bound. This has an ascending lower boundary so it's considered a symmetrical triangle. But yes, there is a very good chance this is a triangle. However, I don't know how he came up with $380 as his target. That would be a 100% extension of the rise we've already seen. If this is a wave 4 triangle, then the target would be lower than that. Using typical triangle thrust targets, I expect the area of the blue box as the target. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.sierrachart.com%2Fimage.php%3Fl%3D1438882601484.png&t=665&c=cF5C9N3x88nFUg) This is assuming this lopsided triangle is complete at this time. The lower bound is not angled enough to be a clear full blown symmetrical triangle, so this angle could indicate that there are big % of a descending triangle wave pattern behavior, who knows what will happen tho, time to take some risks if you want to short. Im holding anyway.
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Pk880058
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August 07, 2015, 03:33:48 PM |
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If this is going to happen then I better buy more and more Bitcoin now. The return over investment will be pretty good without much risks involved.
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lexuz
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August 08, 2015, 06:26:55 AM |
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It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts
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farting_shot
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August 08, 2015, 02:48:48 PM |
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It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts
His prediction is proving to be WRONG!!! Btc price is CRASHING since his prediction was made. Thanks to OP, we're now looking at sub 270. I think it's going down to sub 200 soon.
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kwukduck
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August 08, 2015, 02:49:51 PM |
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If there ever was any chance, it's gone now.
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14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
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MinerHQ
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August 16, 2015, 09:27:11 AM |
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It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts
His prediction is proving to be WRONG!!! Btc price is CRASHING since his prediction was made. Thanks to OP, we're now looking at sub 270. I think it's going down to sub 200 soon. Yes I think BTC price going back to around 200 level. Crossing 300 in near future may be quite challenging. Trade with carefully
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MF Doom
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 17, 2015, 01:40:59 PM |
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It's double chance, i mean price can up or down but i hope your prediction is right. Because i have waiting bitcoin price back strong in charts
His prediction is proving to be WRONG!!! Btc price is CRASHING since his prediction was made. Thanks to OP, we're now looking at sub 270. I think it's going down to sub 200 soon. Yes I think BTC price going back to around 200 level. Crossing 300 in near future may be quite challenging. Trade with carefully I am starting to think the same thing. Crossing $300 a few weeks ago certainly seemed too good to be true...and it was. Just a very weak run up, which I'm sure the whales and astute traders saw coming, and used it to their advantage. Now that runup has deflated back to the $250 level it that we were hanging arond, and I'm not so sure we can even hold that
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peligro
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August 28, 2015, 04:04:54 PM |
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I hope not many believed that prognosis. We are down very much since then.
It's a pity how unpredictable the bitcoin price is. I mean here were so many that thought it is possible to predict but it wasn't again.
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randy8777
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August 28, 2015, 09:10:41 PM |
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I hope not many believed that prognosis. We are down very much since then.
It's a pity how unpredictable the bitcoin price is. I mean here were so many that thought it is possible to predict but it wasn't again.
yeah, no one can predict the bitcoin price. i have seen so many predictions here and on several respected crypto news sites, and most of the time they are wrong. no matter how long you trade bitcoin or how much you know about markets, bitcoin is and will stay unpredictable for quite some years.
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smoothie
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LEALANA Bitcoin Grim Reaper
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August 28, 2015, 09:16:08 PM |
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Looks like this forecast was wrong.
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