Nights Watch by Afrikoin

[Afrikoin]

Afrikoin, I just sent you 0.02017 bitcoin at 1P1jyUGjQpnZ5daExhvccWPcdZ2AVCviTW.
Thank you for your positive contributions to the speculation forum and have a wonderful 2017.

Ahsante sana Morecoin Freeman!

Thank you!

[Afrikoin]

[Afrikoin]

[Afrikoin]

[Afrikoin]

[Afrikoin]

VERY early Google trends data for 'Bitcoin' from January indicates a new bubble approaches. Need to wait longer for confirmation

https://twitter.com/alistairmilne/status/816562457758011392

[rjclarke2000]

VERY early Google trends data for 'Bitcoin' from January indicates a new bubble approaches. Need to wait longer for confirmation

https://twitter.com/alistairmilne/status/816562457758011392

Too scared and inexperienced to trade my coins so I will hodl until the peak and even during the correction. It's worked so far.

Great thread btw

[Bustart]

VERY early Google trends data for 'Bitcoin' from January indicates a new bubble approaches. Need to wait longer for confirmation

https://twitter.com/alistairmilne/status/816562457758011392

Too scared and inexperienced to trade my coins so I will hodl until the peak and even during the correction. It's worked so far.

Great thread btw

I also hold the coin for the long term.

[spazzdla]

DAMN man good call on that $890 resistance.

[Afrikoin]

SUMMARY OF PAST 2/3 weeks

Bitcoin price broke past $1000

Media went mad! All sorts of euphoria inducing headlines. The ones we love to hate, because they bring in a new wave of buyers, investors, savers, - new people!

January 2017, Bitcoin inches to gold parity, breaks all time high (debatable. depends on exchange etc. yawn! semantics that get in the way of a great headline)

January 4, Bitcoin sells off from top to $887. Nasty, the kind that brings back the journos and critics from the woodwork. Like Izabella from FT. Red candles everywhere! Blood on the streets

Same day, Afrikoin trades the sell off, rises to pole position on Bit-sim trade leader board (from 11) here http://www.bit-sim.trade/login.php *grin*

January 5, China rumours creep in, dumpers/manipulators/whales/shorters (again semantics) sell and market dips again to $871

Bitcoin as a safe haven asset class theme re-emerges. Even in a little country in Africa, of 45 million people, home of most successful mobile digital currency MPesa!

Chart summary of 2 weeks

[Afrikoin]

TOne of industry has shifted to bitcoin as an investment class - digital gold /whatever (semantics)

Good IMO

 market Watch on Winklev0ss ETF

More pump news later in March? or priced in now? I foresee a dump. Won't get approved

Final rule on proposed bitcoin ETF to come in March

http://www.marketwatch.com/story/final-rule-on-proposed-bitcoin-etf-to-come-in-march-2017-01-04

[windjc]

TOne of industry has shifted to bitcoin as an investment class - digital gold /whatever (semantics)

Good IMO

 market Watch on Winklev0ss ETF

More pump news later in March? or priced in now? I foresee a dump. Won't get approved

Final rule on proposed bitcoin ETF to come in March

http://www.marketwatch.com/story/final-rule-on-proposed-bitcoin-etf-to-come-in-march-2017-01-04

If the ETF comes thats great - long term. But short term and immediate term, China leads. I think we are setting up for a multi-month consolidation and then higher. Demand for bitcoin continues to grow, we just got overbought again. Rinse and repeat.

[Afrikoin]

TOne of industry has shifted to bitcoin as an investment class - digital gold /whatever (semantics)

Good IMO

 market Watch on Winklev0ss ETF

More pump news later in March? or priced in now? I foresee a dump. Won't get approved

Final rule on proposed bitcoin ETF to come in March

http://www.marketwatch.com/story/final-rule-on-proposed-bitcoin-etf-to-come-in-march-2017-01-04

If the ETF comes thats great - long term. But short term and immediate term, China leads. I think we are setting up for a multi-month consolidation and then higher. Demand for bitcoin continues to grow, we just got overbought again. Rinse and repeat.

Im with you (in bold)

Rinse repeat - yes - but on a larger fractal 

[Afrikoin]

China, Seeking to Stop Weakening of Currency, Issues Restrictions

http://mobile.nytimes.com/2017/01/05/business/dealbook/china-currency-renminbi-yuan.html?em_pos=small&emc=edit_dk_20170106&nl=dealbook&nl_art=4&nlid=75803110&ref=headline&te=1&referer=&utm_source=facebook.com&utm_medium=social&utm_campaign=

[Afrikoin]

BTCUSD, MN1, 2016.12.27 20:04 UTC

[Afrikoin]

Good thread 

correction should be simple having had so many combinations.

A permabull's dream meets harsh reality...

Signature checks out!

[Afrikoin]

Lol at Mega Bulls rationalizing price fall

Are we drawing the handle of the 3-year cup & handle by any chance?

probably if 780 fail. then need to wait another half year of consolidation

What do you mean with "if 780 fail"? If price goes below 780? If so, wouldn't that invalidate the cup & handle because it retraced too much? How deep can it go for the 3-year c&h to still be valid in your opinion?

And what if 780 holds? Could still be cup & handle, no?

c&h allows down to 50% of cup height deep

[Afrikoin]

I think we will continue to see threads just like this one from people who just heard about bitcoin's rise to it's ATH and rushed into here looking for answers to what bitcoin is about.
Or too just poke their heads in to see what all the commotion is about.
Well you got a good dose of it!
Welcome to the Terror Dome...
Come on down!

It rises and falls on it's own because it has no master and does not follow any rules no matter what anybody here tells you.

Think of it as a Dragon. Ever manipulating and a beast that can never be tamed.

[Afrikoin]

EW thread

https://bitcointalk.org/index.php?topic=1733053.msg17342036#msg17342036

I've just noticed this, but I have no experience with Elliott wave. Is this a reasonable count? According to this count, we were done with wave II in January 2015, and are now in wave 1 of wave III.

What are its implications? What does this imply for the top of the current impulse wave? Any other info on this or other long term Elliott wave counts?

Code:

0: 2011-04-05     0.67
1: 2011-06-09     29.6
2: 2011-11-18     2.14
3/1: 2012-01-08     7.05
3/2: 2012-02-16     4.19
3/3: 2012-08-17     13.3
3/4: 2012-08-19     9.09
3/5: 2013-04-09      215
3: 2013-04-09      215
4: 2013-04-16     65.3
5: 2013-11-30    1,210
A: 2014-02-21      119
B: 2014-06-03      671
C: 2015-01-15      195

I'll admit I don't do Elliott Wave myself, but I do follow cycles. What does it mean when you go from 0,1,2 to 3/1 through 3/5 and then have a 3? Why does it go ABC after 5?

0 is the start of the impulse. so 0 to 1 is wave-1 (32 high). the 3's are the subwaves of the larger extended 3 (266 high) and his 5 is the 1200 high. Basically luc's count and one of my likely counts. Then the abc is the corrective move to the whole impulse.

@OP; It is my opinion that the first 1xx hit could be A, but the second hit would not be C in that case. Too short in time and the B would not have been deep enough of a retrace of A. I am more of the mind that the second hit was the A or complex W.

And yes, putting your labels on a chart is much better for visualization.

If 2015-01-15 / 195 is the A, then right now, we are in B? We're unlikely to go above the ATH? And we will drop below 1xx?

Where will the current top be? We're at it then? And how far will it fall?

There are rules to be held. While "typical" C waves would go near the A bottom, it isn't a for sure thing which is why you also need some other indicators to watch with your counts. Wave B can move beyond the ath to a certain degree without invalidating the count.

The big wave B is just how I see it, so formulate your own opinion on where we are like your OP. My count is by no means the only possible count, just my preferred count

[Afrikoin]

Updated my BTC correction chart - I had to adjust the Fibonacci retracement overlay. 800 BTC/USD is the most important support.

If price stay above that support line, it will recover more quickly.
If price drops below 800 USD, retracement is higher than 50% and further losses are more likely.


$800 seems to be decent support. lets hope she holds for a few days and confirms the bull is still on

ps: not mine