Nights Watch by Afrikoin

[RAJSALLIN]

Lol

[unknown04]

The great opportunity

if this day comes, a lot of us are millionaires ... I cant wait to be one....

[Afrikoin]

How will SegWit Affect the Price of Bitcoin ?

https://medium.com/@michaelkimani/how-will-segwit-affect-the-price-of-bitcoin-b58d7c29cd9a#.26x65vhop

[Afrikoin]

Hi Fakhoury, heres a closer look at that fork.



Hopefully it is highly possible, if bitcoin does continue up past current levels to reach to the median that would take it to about $840.

[Afrikoin]

Same fork zoomed out further

[Afrikoin]

[Afrikoin]

Bitcoin Price Gears Up for a Christmas High

https://bitcoinaverage.com/blog/bitcoin-price-gears-up-for-a-christmas-high

[Afrikoin]

Does anyone else think we are in an ascending wedge triangle? A continuation pattern?

[kehtolo]

I've just been reading up on this.. and i think the authour has got two chart patterns mixed up into one.

There is a rising wedge pattern (bearish) and a rising triangle pattern (bullish) and they are two different things that look a bit similar.

What I'm seeing in this chart is a rising wedge pattern, which would be bearish. But it doesn't end there!

This applies just to the US$ exchanges.. Finex and Stamp..

When we look to China, Huobi shows an (almost perfect) symetric triangle.. which is also bullish.

"The resolution of a symmetric triangle is much less predictable however it is usually considered a "consolidation pattern" means that it will break in the direction of the trend that was in effect before the pattern appeared."  - stockcharts.com
https://stockcharts.com/articles/chartwatchers/2015/09/ascending-triangle-bullish-or-ascending-wedge-very-not-bullish.html

OKCoin shows a similar symetric triangle but this has already broken to the Upside

China is leading.. as per usual and the west is following, in what seems like spurts. A little leg up.. indescision.. wait, watch China..move up again... imo, the whole market is watching China and reacting.

Then we have the fundamentals mentioned in the posted article (bitcoinaverage) ..India, China, SegWit, capital controls etc. Overall the picture is bullish, if you take your queues from China.

[Afrikoin]

I've just been reading up on this.. and i think the authour has got two chart patterns mixed up into one.

There is a rising wedge pattern (bearish) and a rising triangle pattern (bullish) and they are two different things that look a bit similar.

What I'm seeing in this chart is a rising wedge pattern, which would be bearish. But it doesn't end there!

This applies just to the US$ exchanges.. Finex and Stamp..

When we look to China, Huobi shows an (almost perfect) symetric triangle.. which is also bullish.

"The resolution of a symmetric triangle is much less predictable however it is usually considered a "consolidation pattern" means that it will break in the direction of the trend that was in effect before the pattern appeared."  - stockcharts.com
https://stockcharts.com/articles/chartwatchers/2015/09/ascending-triangle-bullish-or-ascending-wedge-very-not-bullish.html

OKCoin shows a similar symetric triangle but this has already broken to the Upside

China is leading.. as per usual and the west is following, in what seems like spurts. A little leg up.. indescision.. wait, watch China..move up again... imo, the whole market is watching China and reacting.

Then we have the fundamentals mentioned in the posted article (bitcoinaverage) ..India, China, SegWit, capital controls etc. Overall the picture is bullish, if you take your queues from China.

I see what you mean.

I try to be conscious of my bias. SO i had thought about both the bullish and bearish case below

I still think the trend is up, and even if we take a dip (to as low as $650, its a dip before more up.

See; What's the Difference Between an Ascending Wedge and an Ascending Triangle?
https://stockcharts.com/articles/decisionpoint/2015/04/whats-the-difference-between-an-ascending-wedge-and-an-ascending-triangle.html

[Afrikoin]

How will SegWit Affect the Price of Bitcoin ?

https://medium.com/@michaelkimani/how-will-segwit-affect-the-price-of-bitcoin-b58d7c29cd9a#.v8yn4bgub

[kehtolo]

I've just been reading up on this.. and i think the authour has got two chart patterns mixed up into one.

There is a rising wedge pattern (bearish) and a rising triangle pattern (bullish) and they are two different things that look a bit similar.

What I'm seeing in this chart is a rising wedge pattern, which would be bearish. But it doesn't end there!

This applies just to the US$ exchanges.. Finex and Stamp..

When we look to China, Huobi shows an (almost perfect) symetric triangle.. which is also bullish.

"The resolution of a symmetric triangle is much less predictable however it is usually considered a "consolidation pattern" means that it will break in the direction of the trend that was in effect before the pattern appeared."  - stockcharts.com
https://stockcharts.com/articles/chartwatchers/2015/09/ascending-triangle-bullish-or-ascending-wedge-very-not-bullish.html

OKCoin shows a similar symetric triangle but this has already broken to the Upside

China is leading.. as per usual and the west is following, in what seems like spurts. A little leg up.. indescision.. wait, watch China..move up again... imo, the whole market is watching China and reacting.

Then we have the fundamentals mentioned in the posted article (bitcoinaverage) ..India, China, SegWit, capital controls etc. Overall the picture is bullish, if you take your queues from China.

I see what you mean.

I try to be conscious of my bias. SO i had thought about both the bullish and bearish case below

I still think the trend is up, and even if we take a dip (to as low as $650, its a dip before more up.

See; What's the Difference Between an Ascending Wedge and an Ascending Triangle?
https://stockcharts.com/articles/decisionpoint/2015/04/whats-the-difference-between-an-ascending-wedge-and-an-ascending-triangle.html

(images snipped)

Yes, and I agree (i've read that article too!). Either we just go up to next resistance from here or one more leg down to support level (around $650 like you say) before moving up. This would be the extreme scenarion. I don't think it will/would drop that much. 700 looks to be good support. And if it does drop there 700-720.. then it would be a great entry point as a move up would be very very likely to follow.

[Afrikoin]

I've just been reading up on this.. and i think the authour has got two chart patterns mixed up into one.

There is a rising wedge pattern (bearish) and a rising triangle pattern (bullish) and they are two different things that look a bit similar.

What I'm seeing in this chart is a rising wedge pattern, which would be bearish. But it doesn't end there!

This applies just to the US$ exchanges.. Finex and Stamp..

When we look to China, Huobi shows an (almost perfect) symetric triangle.. which is also bullish.

"The resolution of a symmetric triangle is much less predictable however it is usually considered a "consolidation pattern" means that it will break in the direction of the trend that was in effect before the pattern appeared."  - stockcharts.com
https://stockcharts.com/articles/chartwatchers/2015/09/ascending-triangle-bullish-or-ascending-wedge-very-not-bullish.html

OKCoin shows a similar symetric triangle but this has already broken to the Upside

China is leading.. as per usual and the west is following, in what seems like spurts. A little leg up.. indescision.. wait, watch China..move up again... imo, the whole market is watching China and reacting.

Then we have the fundamentals mentioned in the posted article (bitcoinaverage) ..India, China, SegWit, capital controls etc. Overall the picture is bullish, if you take your queues from China.

I see what you mean.

I try to be conscious of my bias. SO i had thought about both the bullish and bearish case below

I still think the trend is up, and even if we take a dip (to as low as $650, its a dip before more up.

See; What's the Difference Between an Ascending Wedge and an Ascending Triangle?
https://stockcharts.com/articles/decisionpoint/2015/04/whats-the-difference-between-an-ascending-wedge-and-an-ascending-triangle.html

(images snipped)

Yes, and I agree (i've read that article too!). Either we just go up to next resistance from here or one more leg down to support level (around $650 like you say) before moving up. This would be the extreme scenarion. I don't think it will/would drop that much. 700 looks to be good support. And if it does drop there 700-720.. then it would be a great entry point as a move up would be very very likely to follow.

agreed.

dip to $700 - $720

Lowest $650

Wise not to count on a low dip. Just hold and wait

[Afrikoin]

I've just been reading up on this.. and i think the authour has got two chart patterns mixed up into one.

There is a rising wedge pattern (bearish) and a rising triangle pattern (bullish) and they are two different things that look a bit similar.

What I'm seeing in this chart is a rising wedge pattern, which would be bearish. But it doesn't end there!

This applies just to the US$ exchanges.. Finex and Stamp..

When we look to China, Huobi shows an (almost perfect) symetric triangle.. which is also bullish.

"The resolution of a symmetric triangle is much less predictable however it is usually considered a "consolidation pattern" means that it will break in the direction of the trend that was in effect before the pattern appeared."  - stockcharts.com
https://stockcharts.com/articles/chartwatchers/2015/09/ascending-triangle-bullish-or-ascending-wedge-very-not-bullish.html

OKCoin shows a similar symetric triangle but this has already broken to the Upside

China is leading.. as per usual and the west is following, in what seems like spurts. A little leg up.. indescision.. wait, watch China..move up again... imo, the whole market is watching China and reacting.

Then we have the fundamentals mentioned in the posted article (bitcoinaverage) ..India, China, SegWit, capital controls etc. Overall the picture is bullish, if you take your queues from China.

I see what you mean.

I try to be conscious of my bias. SO i had thought about both the bullish and bearish case below

I still think the trend is up, and even if we take a dip (to as low as $650, its a dip before more up.

See; What's the Difference Between an Ascending Wedge and an Ascending Triangle?
https://stockcharts.com/articles/decisionpoint/2015/04/whats-the-difference-between-an-ascending-wedge-and-an-ascending-triangle.html

(images snipped)

Yes, and I agree (i've read that article too!). Either we just go up to next resistance from here or one more leg down to support level (around $650 like you say) before moving up. This would be the extreme scenarion. I don't think it will/would drop that much. 700 looks to be good support. And if it does drop there 700-720.. then it would be a great entry point as a move up would be very very likely to follow.

Thanks for your input by the way. I appreciate it!

Have you been following this thread for long?

[kehtolo]

While typing this, Huobi just broke the resistance line in this triangle. OKCoin already had..
If you draw this triangle on their 4H charts, you'll see what i mean.

Although it was a weak attempt and has actually fallen back. I think we need to see over 5350 for confirmation.

~$760 on Finex and Stamp

[kehtolo]

Hi Afrikoin..

Yes, I have.. I've been a member here since mid '13.. this is one of my favourite threads. I'm not sure how long following.. a year or more maybe?

Keep up the good work!

The bigger picture is looking more and more positive.

One other point i wanted to make was.. depending on how you draw triangles (which asscending trendline you chose) on this current phase of the chart, we could be completing this large triangle either by next March or next June.

Wouldn't it be just wonderfully serrendipitous if SegWit got locked in around the end of either triangle? (for date, i say end Feb-beginning March or the other bigger triangle June or so)

[Afrikoin]

Hi Afrikoin..

Yes, I have.. I've been a member here since mid '13.. this is one of my favourite threads. I'm not sure how long following.. a year or more maybe?

Keep up the good work!

The bigger picture is looking more and more positive.

One other point i wanted to make was.. depending on how you draw triangles (which asscending trendline you chose) on this current phase of the chart, we could be completing this large triangle either by next March or next June.

Wouldn't it be just wonderfully serrendipitous if SegWit got locked in around the end of either triangle? (for date, i say end Feb-beginning March or the other bigger triangle June or so)

Thanks! You must be one of the many lurkers on here 

Im not sure about SegWit, see this article https://medium.com/@michaelkimani/how-will-segwit-affect-the-price-of-bitcoin-b58d7c29cd9a#.4ff5pet7o

I am looking athe market until we hit a top, then will evaluate based on sentiment at the top.

At the back of my mind, i am expecting *some big event* to rear its head when we hit the top (whatever top that is $870, $900, $1163, $1200, $1300)

There is aone large triangle i a watching, that could step in and send us low once we hit the top. But like i said, this is one idea i have (of many) of how this could play out next 1 year.

Here is the large triangle i refer to, probably similar to the triangle from June this year. So a mega wave 4 (in elliott wave)

Still, i am open to all the other wild bull mega cycle forecasts. Just trying to keep an open mind.

[Afrikoin]

Bitcoin made The Simpsons intro!  You know what that means

[Afrikoin]

Possible?

[kehtolo]

Hi Afrikoin..

Yes, I have.. I've been a member here since mid '13.. this is one of my favourite threads. I'm not sure how long following.. a year or more maybe?

Keep up the good work!

The bigger picture is looking more and more positive.

One other point i wanted to make was.. depending on how you draw triangles (which asscending trendline you chose) on this current phase of the chart, we could be completing this large triangle either by next March or next June.

Wouldn't it be just wonderfully serrendipitous if SegWit got locked in around the end of either triangle? (for date, i say end Feb-beginning March or the other bigger triangle June or so)

Thanks! You must be one of the many lurkers on here 

Im not sure about SegWit, see this article https://medium.com/@michaelkimani/how-will-segwit-affect-the-price-of-bitcoin-b58d7c29cd9a#.4ff5pet7o

I am looking athe market until we hit a top, then will evaluate based on sentiment at the top.

At the back of my mind, i am expecting *some big event* to rear its head when we hit the top (whatever top that is $870, $900, $1163, $1200, $1300)

There is aone large triangle i a watching, that could step in and send us low once we hit the top. But like i said, this is one idea i have (of many) of how this could play out next 1 year.

Here is the large triangle i refer to, probably similar to the triangle from June this year. So a mega wave 4 (in elliott wave)

Still, i am open to all the other wild bull mega cycle forecasts. Just trying to keep an open mind.

Hmppm.. I'm not really sure I agree with him on SegWit.. I think we should see a sell off if we do gt above ~$1100 or so.. because that would just be normal. I don't think it would necessarily have much to do with SegWit (although that won't stop people claiming that)

SegWit will lead to investor confidence. It will lead to more transactions.. and possible LN (waaaaay more transactions) and these things will lead to investor confidence. This will see highs broken. So I expect a finishing off of our current triangle to last until late Feb-Mar (or even June!) and then new ATH soon after.