HI-TEC99
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Activity: 2772
Merit: 2846
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January 18, 2017, 10:37:52 AM |
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Good morning everyone. Morning here anyway.
What is the prediction for today? Dropping back to the mid 800s or settling nicely in to the early/ mid 900s.
i predict 2nd i predict neither, because I think a 3rd sideways option is most likely. |
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soullyG
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January 18, 2017, 10:46:05 AM |
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I have a feeling we're in for a lot of sideways for the next week or two, to complete the massive cup and handle everyone is talking about. As long as we stay above $800 we should be good. Once that's done we'll be back over $1k and ATH in no time..just be patient!
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600watt
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Activity: 2338
Merit: 2106
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January 18, 2017, 10:47:43 AM |
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Holding on to that rocket like a pro  yeah... but... still wrong direction...  |
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Denker
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Activity: 1442
Merit: 1014
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January 18, 2017, 11:05:02 AM |
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I have a feeling we're in for a lot of sideways for the next week or two, to complete the massive cup and handle everyone is talking about. As long as we stay above $800 we should be good. Once that's done we'll be back over $1k and ATH in no time..just be patient!
One or two weeks is nothing. In 2015 we went sideways for several months!!! Therefore my patience is always stronger!!  In terms of the price level you are talking about I agree.Anything above $800 is nothing we need to be worried about. Even if we drop below that for a short moment it is ok. |
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soullyG
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January 18, 2017, 11:58:13 AM |
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One or two weeks is nothing. In 2015 we went sideways for several months!!! Therefore my patience is always stronger!! Very true, after hodling for 3+ years and so many damn pumps and dumps I should have more patience - just so tantalizingly close to ATH and the next big rally! |
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jaberwock
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Activity: 2534
Merit: 1073
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January 18, 2017, 12:27:05 PM |
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The Chinese new year is coming, and Donald Trump is coming too, so I don't expect sideways for the rest of January.
Don't know if the effects will last, I expect sideways after january
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boyshx
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January 18, 2017, 12:30:30 PM |
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The Chinese new year is coming, and Donald Trump is coming too, so I don't expect sideways for the rest of January.
Don't know if the effects will last, I expect sideways after january
Are you suggesting the price will keep on rising on chinese new year? It always happens the opposite, and the price dumps a little. |
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ErisDiscordia
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Activity: 1133
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Imposition of ORder = Escalation of Chaos
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January 18, 2017, 01:39:51 PM |
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Yo dawg! I heard you like cups'n'handles...
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soullyG
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January 18, 2017, 01:40:19 PM |
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Yo dawg! I heard you like cups'n'handles...
Seeing them everywhere now.. |
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Meuh6879
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Activity: 1512
Merit: 1011
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January 18, 2017, 01:45:33 PM |
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 RED ... ? |
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OrangeP
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January 18, 2017, 01:48:05 PM |
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Tasty cheap coins mhmhmmhhm.
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alexout
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January 18, 2017, 01:54:18 PM |
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Whats causing the downswing?
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soullyG
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January 18, 2017, 01:55:49 PM |
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Whats causing the downswing?
Expected correction/retest of support after the recent rise |
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Ibian
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Activity: 2268
Merit: 1278
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January 18, 2017, 01:59:47 PM |
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Oh no the price dropped to higher than it was a few days ago, bitcoin is surely dead this time.
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alexout
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January 18, 2017, 02:03:32 PM |
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Whats causing the downswing?
Expected correction/retest of support after the recent rise considering buying a couple of coins to make a quick few hundred dollars of profit. |
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abercrombie
Legendary
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Activity: 1159
Merit: 1001
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January 18, 2017, 02:07:07 PM |
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vgo
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Activity: 2072
Merit: 1019
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January 18, 2017, 02:15:47 PM |
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boyshx
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January 18, 2017, 02:21:30 PM |
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LOL at this tweet
"@cnLedger Probably all the relatives of those working at PBOC shorted before this announced. Nice"
It wouldn't surprise me at all if this was true
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Chainsaw
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January 18, 2017, 02:27:11 PM |
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Long term support for the bottom: <pic> Descending wedge in the shorter term:  Descending wedges are typically reversal patterns, and we would have to break a strong support line to defy expectations upon pattern resolution. The support line will force the shorter term descending wedge to terminate before its forced termination at convergence. The two trends converge by 1/18 14:00. I am expecting one more leg downwards, constrained by both the wedge and support. If these hold, then the lowest low would be $686. Some solid TA for once.  Didn't catch that wedge myself One thing I like about it is, the top of that wedge hasn't really been defined on-volume yet. So one way it could invalidate the short term trend would be to reshape itself into a downward channel, rather than wedge....and then we have transitioned into the cup and handle pattern :-) Having broken on low volume, with no real follow through, this is looking increasingly likely. The case would strengthen greatly if we get a rally which stops on the yet-to-be-defined, resistance line parallel to support. This is one of those rare scenarios where my short term expected position is bearish, but for exactly those reasons the medium term outlook is bullish.  Perfect timing for a much-needed correction! I expect this range to hold on the downside until breakout. I'm unsure what kind of ratio of time-in-handle exists, relative to time-in-cup. |
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Master mind
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January 18, 2017, 02:55:20 PM |
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Different EW theorists have varying wave counts. One Elliott Wave count that is as reasonable as any is by Paul Gordon of Coinscrum, who believes we are now in Primary Wave 3 of Grand Cycle I with a projected high of $9304.  Wave 3 Wave 3 |
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