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Author Topic: THE Down-trend Is broken: LOOK AT THE 5 Minute CHART, BUY NOW!!!  (Read 1158 times)
Bit_Happy
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June 12, 2011, 04:26:22 AM
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BTC prices spiked from $10.50 to $16 and then within less than 10 minutes they went from $12 to $16.
If you know even the most basic facts about trading:
The Down-trend is broken: LOOK AT THE 5 Minute CHART, BUY NOW!!!   Cheesy

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June 12, 2011, 04:32:24 AM
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So, you're talking about that tiny ascending triangle?  Undecided
demonofelru
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June 12, 2011, 04:33:55 AM
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I am far from an advanced trader but I seriously don't believe technical analysis is very valid if at all in bitcoins especially this early.

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June 12, 2011, 04:36:57 AM
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So, you're talking about that tiny ascending triangle?  Undecided

No I clearly mentioned the two big pushes up to $16. Those show many buyers locked in a fierce battle with scared sellers. The buyers have spoken and will again.

I am far from an advanced trader but I seriously don't believe technical analysis is very valid if at all in bitcoins especially this early.

Greed and fear apply to all markets.
Look at the one hour chart, it is a perfect example of an easy to call top.
I admit to still being bullish at $31, due to the excessive emotion here at the forum, but the chart is a classic perfect example of Greed and Fear.

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