bulls versus bears!

[arepo]

volatility up! who will win? breakout upside or tumble down?

[bitcon]

bulls on parade by rage against the machine.

[XXthetimeisnowXX]

wouldnt mind it dipping down to catch all my buy tickes and then shoot to the stars. ill be happy with a good break up wards so i live longer......less stress  haha

[Mike Christ]

bulls on parade by rage against the machine.

You know, I never really understood what that song was about until recently

[Qoheleth]

Secret rockets versus secret submarines.

[bitcon]

bulls on parade by rage against the machine.

You know, I never really understood what that song was about until recently

it has negative connotations regarding wall street/fed, but regarding the bitcoin market it can be heard in a optimistic voice for reasons btc is the antithises of the fed...

[ruski]

When I went to bed last night, I converted all my AUD to BTC after a night of trading around $70. Woke up to see it had broken the range and was sitting at $120.

The lack of fees is helping price discovery significantly. I'm saying bull, but then I'm always saying bull.

[arepo]

-===-

pretty significant triangle consolidation closing right now. break up or down?

[ruski]

-===-

pretty significant triangle consolidation closing right now. break up or down?

Up.

13/4/2013 4:18:05 PM: Market buy (107.08313 to 107.3)
13/4/2013 4:16:35 PM: Market sell (105.00001 to 103.31196)
13/4/2013 4:16:35 PM: Market buy (107.08312 to 107.08313)
13/4/2013 4:16:05 PM: Ask down (107.3 to 107.08312)
13/4/2013 4:15:05 PM: Market buy (106.97606 to 107.3)
13/4/2013 4:14:35 PM: Ask down (107.08313 to 106.97606)
13/4/2013 4:14:04 PM: Market buy (107.08312 to 107.08313)
13/4/2013 4:13:34 PM: Ask down (107.08313 to 107.08312)
13/4/2013 4:12:35 PM: Ask down (107.10677 to 107.08313)

Read from bottom to top. Someone is working very hard to make some imaginary bullish action here.

[smoothie]

-===-

pretty significant triangle consolidation closing right now. break up or down?

Up.

13/4/2013 4:18:05 PM: Market buy (107.08313 to 107.3)
13/4/2013 4:16:35 PM: Market sell (105.00001 to 103.31196)
13/4/2013 4:16:35 PM: Market buy (107.08312 to 107.08313)
13/4/2013 4:16:05 PM: Ask down (107.3 to 107.08312)
13/4/2013 4:15:05 PM: Market buy (106.97606 to 107.3)
13/4/2013 4:14:35 PM: Ask down (107.08313 to 106.97606)
13/4/2013 4:14:04 PM: Market buy (107.08312 to 107.08313)
13/4/2013 4:13:34 PM: Ask down (107.08313 to 107.08312)
13/4/2013 4:12:35 PM: Ask down (107.10677 to 107.08313)

Read from bottom to top. Someone is working very hard to make some imaginary bullish action here.

How is it imaginary if the bid order exists?

lol

[Kazu]

When this breaks its gonna be epic. Best triangle ever.

[Ichthyo]

we have walls at 108 and 113. These were moved inward, narrowing the channel.
The bid wall is larger, but this is irrelevant, since any of these walls could just be pulled or moved.

[arepo]

we have walls at 108 and 113. These were moved inward, narrowing the channel.
The bid wall is larger, but this is irrelevant, since any of these walls could just be pulled or moved.

you don't even believe in triangles? i'm in the midst of composing a response in my other thread. i did explain the basic theory of why triangle formations occur in that OP.

[Ichthyo]

we have walls at 108 and 113. These were moved inward, narrowing the channel.
The bid wall is larger, but this is irrelevant, since any of these walls could just be pulled or moved.

you don't even believe in triangles?

I don't believe in things just because I see them.

[arepo]

-===-

pretty significant triangle consolidation closing right now. break up or down?

you don't even believe in triangles?

too bad it pretty much directly predicted the breakout we're seeing just now. not confirmed bullish until we break the top of the channel, though ($130). Then we could go as high as $180 (phi-retracement of the original $266-$55 move) without another downward movement.

[notme]

1. After price trends, turn on liquidity bot
2. When price range narrows to a point, shut down bot
3,. Wait for trend, got to 1

I keep profits in btc.  I guess that makes me a bull, but I love the conflicting ideas.  The more you guys argue, the easier it is for me to squeeze out profits.

[evolve]

triple top at @130, then a decline:


(live chart)

[ruski]

1. After price trends, turn on liquidity bot
2. When price range narrows to a point, shut down bot
3,. Wait for trend, got to 1

I keep profits in btc.  I guess that makes me a bull, but I love the conflicting ideas.  The more you guys argue, the easier it is for me to squeeze out profits.

SO much this.

[Kazu]

Bears on serious retreat.

Bulls need one massive buy order. Then its a breakout for sure. We're honestly close to a $20+ gain depending on the volume.

[arepo]

you don't even believe in triangles?

I don't believe in things just because I see them.

here's a follow up, so you don't complain about 'method and rigor':

-===-



-===-

you can clearly see the tightening trading range, which is more about market consolidation than anything else (the bids and asks react to the tightening trading range, not the other way around).

the key identifying marker of a triangular consolidation pattern is the decreasing volume throughout, and then the sudden spike of volume which indicates the breakout, accompanied by a price movement outside of the tightening range. a movement beyond the channel bounded by the wide end of the triangle confirms the breakout.

the same words are in my thread about the bearish pennant. this is a very robust pattern.