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David M
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December 08, 2013, 11:28:32 PM |
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The three magic numbers I am looking at for the short term are:
576: The low.
860: The bounce high.
864: 50% off the low.
How do you mean, 50% off the low. Excuse me, I just don't know what you mean by that.  576 * 1.5 = 864 |
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Ivanhoe
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December 08, 2013, 11:30:24 PM |
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We are now back in the channel of 11 - 21 November.
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freethink2013
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December 08, 2013, 11:33:39 PM |
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for me the numbers are 600 and 850. There was quite a battle around 850 but once it was breached we went into free fall until we dipped under 600 at which point the demand returned
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CryptStorm
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December 08, 2013, 11:35:13 PM |
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The three magic numbers I am looking at for the short term are:
576: The low.
860: The bounce high.
864: 50% off the low.
How do you mean, 50% off the low. Excuse me, I just don't know what you mean by that. .5 x 576 + 576 = 864 not sure that it means anything but that is how he got it... thank you, sir |
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pdawg
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December 08, 2013, 11:39:52 PM |
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We need to break through the 50-60% retrace zone from the highs to the 576 low. There will be resistance there, if we get through that then the ATH will be back in the crosshairs.
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CryptStorm
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December 08, 2013, 11:41:08 PM |
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We are now back in the channel of 11 - 21 November.
I would temper this sentiment with being *under* the moving averages on so many charts. QED Downtrend. |
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ibrahim11
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December 08, 2013, 11:42:06 PM |
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I was going to buy at 730 usd but now it's 815 usd per btc on gox. Is it going to go down again?
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rpietila
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Activity: 1722
Merit: 1036
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December 08, 2013, 11:45:10 PM |
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Breaking out of that triangle in a big way. Anyone want to place bets on recovery or bull trap?
You mean an actual bet? Yeah, sure. I feel we will go visit the exponential trendline. what point are we currently at on that trendline? i forget where that thread is  . Ofc it can go higher for an extended period of time. But aren't we kind of in a bear market now?  Ending the year at $500 sounds very good to me. |
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fred1111
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December 08, 2013, 11:45:22 PM |
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I was going to buy at 730 usd but now it's 815 usd per btc on gox. Is it going to go down again?
No you have to panic buy. No one here can answer that, and don't expect people to answer you with _your_ interest in mind. |
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JimboToronto
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You're never too old to think young.
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December 08, 2013, 11:46:33 PM |
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I was going to buy at 730 usd but now it's 815 usd per btc on gox. Is it going to go down again?
Possibly, but don't count on it immediately. If it goes up from here, we may not see it until the next bubble pops. |
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rebuilder
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December 08, 2013, 11:48:54 PM |
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Ofc it can go higher for an extended period of time. But aren't we kind of in a bear market now? Ending the year at $500 sounds very good to me. And if the price goes off the trendline for very long, the trendline will shift... So how do we know whether Bitcoin has been mostly trading above or below whatever the trendline will turn out to be, so far? I'm guessing some tea leaves will be involved. |
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justusranvier
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December 08, 2013, 11:53:39 PM |
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And if the price goes off the trendline for very long, the trendline will shift... So how do we know whether Bitcoin has been mostly trading above or below whatever the trendline will turn out to be, so far? I'm guessing some tea leaves will be involved.
I'm not sure the long term trendline is straight on a log graph. You can fit log 10 price to an exponential curve fairly well. |
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adsdas
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https://streamies.io/
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December 08, 2013, 11:53:47 PM |
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bull pennant! go china! oh well  |
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I_bitcoin
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December 08, 2013, 11:53:51 PM |
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December target at about $428. Ofc it can go higher for an extended period of time. But aren't we kind of in a bear market now? Ending the year at $500 sounds very good to me. Afraid that at this point we are not going to see the #5 in the 100s place for some time. Perhaps in the thousands place |
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CryptStorm
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December 08, 2013, 11:54:44 PM |
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Ofc it can go higher for an extended period of time. But aren't we kind of in a bear market now? Ending the year at $500 sounds very good to me. And if the price goes off the trendline for very long, the trendline will shift... So how do we know whether Bitcoin has been mostly trading above or below whatever the trendline will turn out to be, so far? I'm guessing some tea leaves will be involved. I'm pretty sure the trendline mentioned is the one formed with the lease squares method on the log chart over the longest period of available data, not the current parabolic uptrend. Hope that helps. |
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tHash
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December 08, 2013, 11:56:50 PM |
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I was going to buy at 730 usd but now it's 815 usd per btc on gox. Is it going to go down again?
Possibly, but don't count on it immediately. If it goes up from here, we may not see it until the next bubble pops. One thing that you can be sure of, if/when we bubble again, it will not drop anywhere near $800. It probably will drop again, watch for retracement on the current increase. It will take a number of days to confirm the trend. If you want a guarantee, buy now and put your coins in cold storage, in all previous bubbles, the only people who lost money were those who sold, and all of us would have at some point been incredibly happy buying at the all time high. Buying after a large correction like this is a true gift. |
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barbs
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December 08, 2013, 11:59:26 PM |
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why hello gox whale!
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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December 09, 2013, 12:01:44 AM |
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rebuilder
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December 09, 2013, 12:08:37 AM |
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I'm pretty sure the trendline mentioned is the one formed with the lease squares method on the log chart over the longest period of available data, not the current parabolic uptrend. Hope that helps.
My point was, any trendline can only describe the past. Whether it can be extrapolated into the future in any meaningful sense is entirely speculative. (Ha ha.) If you were to draw the trend 10 years from now, using the same method, the portion of it corresponding to the market data we've seen up to now might or might not be close to the trendline as drawn now. Bitcoin is not a conservative market. I'd be very surprised if it conformed to a trend estimated from a few years of data for very long. |
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JimboToronto
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You're never too old to think young.
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December 09, 2013, 12:08:44 AM |
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when we bubble again, it will not drop anywhere near $800. Yea, that's a little low, it shouldn't fall much past double the previous bubble's high. buy now and put your coins in cold storage, in all previous bubbles, the only people who lost money were those who sold
You're preaching to the choir, bro. |
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