the ultimate inflection point

[arepo]

It's weekend, you can't expect those resistances to break with these kind of volumes. Tomorrow we will know more, until then it's anyone's guess.

price exhibits the same patterns, just on lower volume.

it's harder to confirm patterns in this setting, but the price is following my personal trading model very nicely, and i stand by the failure to break the resistances as a signal to relieve selling pressure. the market is short-term overbought, and we are, as i projected 12 hours ago, sliding into a low-volume downtrend. there even seems to be a little bear pennant forming right now, which is likely to break down.

-===-



-===-

i'd say the picture is still bearish for monday, specifically, but im saving the good stuff for the newsletter

[michaelGedi]

It's weekend, you can't expect those resistances to break with these kind of volumes. Tomorrow we will know more, until then it's anyone's guess.

price exhibits the same patterns, just on lower volume.

it's harder to confirm patterns in this setting, but the price is following my personal trading model very nicely, and i stand by the failure to break the resistances as a signal to relieve selling pressure. the market is short-term overbought, and we are, as i projected 12 hours ago, sliding into a low-volume downtrend. there even seems to be a little bear pennant forming right now, which is likely to break down.

-===-



-===-

i'd say the picture is still bearish for monday, specifically, but im saving the good stuff for the newsletter

interesting - thanks.

newsletter?

[arepo]

i'd say the picture is still bearish for monday, specifically, but im saving the good stuff for the newsletter

interesting - thanks.

newsletter?

i'm currently in the final stage of data collection for a "Price Analysis and Projection" report. it's sketched out but i'm waiting for a particular confirmation before i am confident enough in my price model to publish it.

after that, i'm going to make it available for a bounty on the forums. keep an eye out, ETA 8 hours

[arepo]

bearish pennant shape from above just about to close...

UP or DOWN?

YOU CHOOSE!

<1 hr

-===-

[arepo]

and the indicative decreasing volume, for rigor:

-===-



-===-

it was too difficult to see in the microscale chart above.

[humanitee]

We're coming out of the weekend.

Up.

[arepo]

We're coming out of the weekend.

Up.

we'll most likely retest the $130-$135 resistance for that reason exactly, but it will hold. so this triangle (because it is on such a small scale) may indeed break up, but when we fail to break over that critical resistance the picture will become very bearish.

[wobber]

How bearish? 50?

[arepo]

How bearish? 50?

no, i've revised my targets since the ones i sent you. they will be included in the report i'm finishing now. i can't really post targets publicly, it has confounding effects.

[Frozenlock]

Report? Where? How much?

[wonkytonky]

for the first time i'm bearish too ..  i have set a buy, a bit below 100$

[ManBearPig]

5 hours no trades, price unaffected beyond an hour.  Not  a good day to draw conclusions from in my opinion.

Other than: attacks are back but we all know how to handle them.

[Miz4r]

It's weekend, you can't expect those resistances to break with these kind of volumes. Tomorrow we will know more, until then it's anyone's guess.

price exhibits the same patterns, just on lower volume.

it's harder to confirm patterns in this setting, but the price is following my personal trading model very nicely, and i stand by the failure to break the resistances as a signal to relieve selling pressure. the market is short-term overbought, and we are, as i projected 12 hours ago, sliding into a low-volume downtrend. there even seems to be a little bear pennant forming right now, which is likely to break down.

-===-



-===-

i'd say the picture is still bearish for monday, specifically, but im saving the good stuff for the newsletter

So, it's Monday now and it still looks pretty damn bullish to me. More bids keep coming in and sell orders are evaporating. I think it may take a day or two but that $130-135 resistance is going to slowly melt away like snow in the sun.

[arepo]

So, it's Monday now and it still looks pretty damn bullish to me. More bids keep coming in and sell orders are evaporating. I think it may take a day or two but that $130-135 resistance is going to slowly melt away like snow in the sun.

yes, i'm pleasantly surprised 

i'm prepared for both, and it's pretty difficult to make calls on this timescale, especially with the indicators mostly neutral. we haven't touched it yet, but we'd better break through when we test it again. it's not just about the order book, it's also a key psychological resistance as well as a physical resistance set by the shape of the crash. if we fail to break that resistance again, it's not gonna look bullish anymore.

the full bid side really just means anyone who wants to take profit on coins they picked up at $50 is gonna have a good time

[arepo]

5 hours no trades, price unaffected beyond an hour.  Not  a good day to draw conclusions from in my opinion.

Other than: attacks are back but we all know how to handle them.

agreed. there were a few attempted breakouts but the volume was much too low. i figured monday money would come in, but monday morning and afternoon were very quiet. nothing happened at all, and the triangle was invalidated.