Bitcoin Primed

[dumpida]

I'm not sure price has finished correcting yet, might still see another dip towards $400

When there is such a dip towards or below the $400 mark, the time will be brief. Then the price will resume upwards.

[afbitcoins]

I'm not sure price has finished correcting yet, might still see another dip towards $400

When there is such a dip towards or below the $400 mark, the time will be brief. Then the price will resume upwards.

Thats along the lines I'm thinking too that there should be strong support on the bottom of that fork. In fact due to slope moving up that support is probably at about $410 now.

[uki]

I'm not sure price has finished correcting yet, might still see another dip towards $400

That also goes in line with my understanding of the current price action. I see the support cluster between $350 and $400 that should provide support yet once again, in case we decide to test the support zones. It seems pretty likely we see such a test, as too many people around is already setting their minds on halvin, that is still relatively far away.

[afbitcoins]

Down 6% as I write, can't tell on my chart as theres a glitch in tradingview but i think bottom of the bull fork has been breached. Might fall a way further yet over coming weeks. I'm thinking about $320 as absolute floor unless it rebounds before then. Bitcoin primed idea as described on OP still valid though.

[azguard]

Down 6% as I write, can't tell on my chart as theres a glitch in tradingview but i think bottom of the bull fork has been breached. Might fall a way further yet over coming weeks. I'm thinking about $320 as absolute floor unless it rebounds before then. Bitcoin primed idea as described on OP still valid though.

its sure right seem like new range now is around 400 and falling seem to be way now and maybe preparing for jump
also this might be reason why several days all markets in world collapse and lower max buy price for 10%
btc seem to follow this 10%

[afbitcoins]

Wow look at that drop, straight out the bottom of my pitchfork.




As always zooming out a bit gives a bit of different perspective.



Until I see price conclusively below that lower trendline (currently) at $320 for me bull mode is still on.

[azguard]

yea but seem like after this crash price is stable fo the moment at least off course this doesn't means anything price can easily go down also it can be over 400 again

[Dux2K]

Strange after this fall price will sliwly go up over 400 again seem like it was needed to go sub 400 for something big to happen

[MatTheCat]

Until I see price conclusively below that lower trendline (currently) at $320 for me bull mode is still on.

Yes. The bullmarket is still on, even if BTC falls to $285, looking at the bigger picture, this could still still play out as a likely test of extreme lower limits of bull trend.

But what this price action proves, is what I told you earlier in this thread.

"Your Pitchfork TA, sucks!"

Get rid of it. You clearly aren't able to recognise correct conditions in which to apply it, and it is only filling your head full of delusion.

I prefer this pitchfork:

[afbitcoins]

Hi Mat, thanks for sharing your analysis. But. That pitchfork served its purpose and didnt suck.     In fact was amazing how often it predicted key turning points including the massive drop when bottom didn't hold and the high point when it touched the mid line of the fork.  

However it is now most likely consigned to the dustbin you'll be glad to know.

[MatTheCat]

Hi Mat, thanks for sharing your analysis. But. That pitchfork served its purpose and didnt suck.     In fact was amazing how often it predicted key turning points including the massive drop when bottom didn't hold and the high point when it touched the mid line of the fork.  

However it is now most likely consigned to the dustbin you'll be glad to know.

Ok..it worked until it didn't....

But...based on what it was telling you, you were forecasting ultra bullish progression in the midst of a bearish storm brewing.

[afbitcoins]

Hi Mat, thanks for sharing your analysis. But. That pitchfork served its purpose and didnt suck.     In fact was amazing how often it predicted key turning points including the massive drop when bottom didn't hold and the high point when it touched the mid line of the fork.  

However it is now most likely consigned to the dustbin you'll be glad to know.

Ok..it worked until it didn't....

But...based on what it was telling you, you were forecasting ultra bullish progression in the midst of a bearish storm brewing.

I also predicted a bearish phase which would look like a dead cat bounce which would turn out to be a bear trap. Perhaps this is it. See arrows on my chart on OP.

Maybe I'm right maybe wrong but I still think good chance there will be another bubble mania and new all time highs kicking off at some point this year.

edit: btw thanks for your opinions, despite my initial annoyance the way you rejected my fork I've come to respect your opinions, your call for a dump after looking at Bitstamp and others have been good calls.

[dumpida]

Strange after this fall price will sliwly go up over 400 again seem like it was needed to go sub 400 for something big to happen

I would call that consolidation. Maybe the previous rise was too quick. It just needs some excuse to drop the price.

[Dux2K]

Strange after this fall price will sliwly go up over 400 again seem like it was needed to go sub 400 for something big to happen

I would call that consolidation. Maybe the previous rise was too quick. It just needs some excuse to drop the price.

Price is almoust reached before this drop i sure hope that from now price will go high

[MatTheCat]

Strange after this fall price will sliwly go up over 400 again seem like it was needed to go sub 400 for something big to happen

I would call that consolidation. Maybe the previous rise was too quick. It just needs some excuse to drop the price.

Price is almoust reached before this drop i sure hope that from now price will go high

Nice to hear.

I want to hear as many folks as possible say shit like this, when I finally find a good entry point for my massive short trade down to ~$310.

Problem with this place though, is EVERYONE thinks Bitcoin is going UP, All the fucking time....


....need to find me a bit more of a representative barmometer of 'public opinion' on Bitcoin.

[afbitcoins]

If you're looking for something to short perhaps this

[azguard]

we still have lot to see this year but personally this 400 range is currently high dont think that in next month or two will change a lot
also lot of taking about block size change and halving are here and all think i will be boom for price but last halving boom happen few months after halving

[Yatsida]

we still have lot to see this year but personally this 400 range is currently high dont think that in next month or two will change a lot
also lot of taking about block size change and halving are here and all think i will be boom for price but last halving boom happen few months after halving

There is no catalyst for the price to change a lot in the next few weeks. Maybe when we know clearly the 2MB block size enhancement, the price will react.

[afbitcoins]

Quite interesting fractal similarities in Bitstamp chart

[afbitcoins]

We're nearly at the point of the big arrow on my opening post. Is bitcoin nearly ready to pop?