Yet another analyst :)

[lucif]

And of course, bottom trend line posted somewhere above

[arepo]

And of course, bottom trend line posted somewhere above

bravo. this one's good. when did you draw that line?

[lucif]

Current channel (Captain obvious)

[lucif]

The question is - will it now break upper blue trend line or not. This will define futher direction.

[lucif]

bravo. this one's good. when did you draw that line?

Ah, this was in russian thread. Wave c of 4 of 3 was a bit lower than expected 

Бopeтcя цeнa c coпpoтивлeниeм пo ocнoвнoмy кpaткocpoчнoмy тpeндy. Ecли пpoбьeт, тo пo идee пoйдeт pacшиpeниe вoлны 5 вплoть дo 32 o_O

[lucif]

This drop is a really something unusual as I see in charts, as many indicators went out of logical interpretations.

I interpret it as "start of SOMETHING".

The sutuation is to be continued. I dont guess in which way. But I leave call a top of 26 still possible.

Heavily overbought daily and weekly oscillators support bear side.
US stocks rallying support bull side, as primary wave force sources I see from there.

[lucif]

Hmm. I figured out why 26 is so mystical here.

We are doubled from 13 in almost single impulse without any kind of daily correction. So it may be treated as psyhological level.

[lucif]

And what was the $13th? It was reward halving.

So market in some misterious way adjusted price according to reward halving (13 x 2 = 26).

According to this idea and daily and weekly oscillators, I make a conclusion: We are likely going down to retest all broken resistances. I think it may go down to 15.

[molecular]

And what was the $13th? It was reward halving.

So market in some misterious way adjusted price according to reward halving (13 x 2 = 26).

mysterious way? Some would argue there is no mystery: supply halves -> price doubles.

I don't subscribe to that idea. I'm still very bullish, 26 is not intermediate top, maybe little break here, which is good.

[lucif]

mysterious way? Some would argue there is no mystery: supply halves -> price doubles.

I don't subscribe to that idea. I'm still very bullish, 26 is not intermediate top, maybe little break here, which is good.

You probably saw 200k btc single ask supply few days ago. If you think we have limited supply at this time, you probably wrong. There are a lot of dead btc sitting in cold storages and not working.

[robocoin]

mysterious way? Some would argue there is no mystery: supply halves -> price doubles.

I don't subscribe to that idea. I'm still very bullish, 26 is not intermediate top, maybe little break here, which is good.

You probably saw 200k btc single ask supply few days ago. If you think we have limited supply at this time, you probably wrong. There are a lot of dead btc sitting in cold storages and not working.

Yeah, the "walls" are not a good tool at all. I can only use it to see where a market order would stop.
I do nothing atm. Half fiat half BTC.

There's a whole lot.  Notice that as tens of thousands of bitcoins were getting sold, total number of BTCs on the sell side of the order book didn't change much at all.  Those BTCs weren't from the standing sell orders, they were from the people keeping their BTCs off the book, and there's a lot more where that came from.

[molecular]

mysterious way? Some would argue there is no mystery: supply halves -> price doubles.

I don't subscribe to that idea. I'm still very bullish, 26 is not intermediate top, maybe little break here, which is good.

You probably saw 200k btc single ask supply few days ago. If you think we have limited supply at this time, you probably wrong. There are a lot of dead btc sitting in cold storages and not working.

give coins to masses is the plan, man!

[lucif]

Clear bull signal

[lucif]

Heavy support area. Posted on private chat, price already bounced from there.

Lower green survived after heavy dump.
Upper blue was broken by daily candle.

In this point they crossing and form heavy support.

[lucif]

CO telling me we may have a correction from around $32 with sub-20th retest.

[StarenseN]

While I appreciate another point of view, its important to balance traditional indicators (which in an immature market as significantly less reliable) with the impact of other metrics like news, adoption, etc. The latter at this point I would argue is more important than any technicals for bitcoin.

Ahhhh... finally someone took 1 minute to explain it to lucif

Lucif, it's really too early to use "advanced" technical tools analysis.

I mean being stuck to it is not a good point of view. It works (i did it successfuly several time thanks to you sometimes) but I'm also listening/reading the users, adopters and OF COURSE use fundamentals.

[lebing]

While I appreciate another point of view, its important to balance traditional indicators (which in an immature market as significantly less reliable) with the impact of other metrics like news, adoption, etc. The latter at this point I would argue is more important than any technicals for bitcoin.

Ahhhh... finally someone took 1 minute to explain it to lucif

Lucif, it's really too early to use "advanced" technical tools analysis.

I mean being stuck to it is not a good point of view. It works (i did it successfuly several time thanks to you sometimes) but I'm also listening/reading the users, adopters and OF COURSE use fundamentals.

I took that minute over 3 months ago, lol. Some people just love their:

[thefiniteidea]

CO telling me we may have a correction from around $32 with sub-20th retest.

Yeahh... somethings gonna happen.

i can feel it.

[lucif]

I'll leave it here.

http://www.thepatternsite.com/EWDiagTriangle.html

Credits to S3052 for pointing that pattern possibility.

[lucif]

Resistance trend line stopped this drop yesterday. Lets see will it survive for next days. Actually I dont like shooting star candle on 22 Feb from bullish point of view. Kinda possible reversal with confirmed yesterday candle.