Analysis

[RyNinDaCleM]

Because it wasn't a wedge 
An ending diagonal won't have the top of 3 as one of the waves nor the upper resistance. It will also have 4th/1st overlap 9 times out of 10, perhaps more. So I didn't see this as even hinting to a wedge

[1714119555]

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[masterluc]

Well, some time passed,  market have some readable picture now. Time to analyze. I have three top counts so far.

[1][2][3][4][5] - bubble waves off 109 low
[[1]] [[2]] [[3]] [[4]] [[5]] - extension of waves above
green 12345 - subcounts

[5] - denotes the end of bubble.

Count #1. Most preferable with top somewhere in the moon

[masterluc]

Count #2 with top around $1000

[masterluc]

The most modest count #3 with top at around $700

[samurai1200]

Thanks for the charts Luc! The second and third ones look the most reasonable to me. I think the (psychological?) resistance on the way to usd$1000 is going to be exponentially increasing. We'll get there eventually, just not in the next couple months.

[vphen]

Next to the red 5, anywhere above wave 3. Market Capitalization (weekly) is already at a new alltime high:

http://blockchain.info/charts/market-cap?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

Everyone probably need to know where price will go after red 5... But I dont wanna scary you before time will come =)

Now I'm interesting of how low the crashing will scary us.

[Crazy]

I always loved Lucif's TA thread, but hearing Masterluc phrase his Jedi wisdom in Yoda's voice makes this the best thread on this site.

What ever happened to Lucif?

Also, does anyone know of popular BTC related forums for the China market?

[notme]

I always loved Lucif's TA thread, but hearing Masterluc phrase his Jedi wisdom in Yoda's voice makes this the best thread on this site.

What ever happened to Lucif?

Also, does anyone know of popular BTC related forums for the China market?

masterluc is lucif

[Crazy]

masterluc is lucif

Well there ya go Good to know

Got any clue about that forum question?

[masterluc]

Its a at least local RIP imo.



Historical log upper line touched (connecting $32 and $266 highs)

[samurai1200]

Historical log upper line touched (connecting $32 and $266 highs)

Based on a linear connection  

Unfortunately need a third point to determine R^2 for exponential.

[edit] hmm, didnt initially see that second picture.

[masterluc]

3rd point is out of screen on the left. Jun 2011 high

[samurai1200]

Masterluc, i need help! Every fiber of my body is saying "sell sell sell!"

But I also thought that way @ $550.

Reassure me with a chart with lines on it.

I will be forever grateful.

 

[masterluc]

I dunno. I don't even see [3] of historical 5 here so far (in my count #1). Counts #2 and especially #3 looks less and less legitimate.

[masterluc]

While no overlap of critical red line, rally may continue ) But there will be consolidation for a week or two.

[thefiniteidea]

This rally is just getting started...

[samurai1200]

Damn, i missed that early $500 touch data point. We touched $500 tonight on gox. The interesting part is that while gox went below $500 for a few minutes, bitstamp held at $500.

[masterluc]

Bullish wedge/pennant

[Miz4r]

That's quite a scary looking wedge there.

[Miz4r]

I know it's a bullish pattern, but either way it still looks quite scary! Just look at it!