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Author Topic: Analysis  (Read 921631 times)
kehtolo
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November 20, 2013, 10:26:36 AM
 #321

Scary? It looks like the point will meet at $400 - ergo it shouldn't dip below that.

Also - Stamp looks to be bouncing right now.. and is ~$15 ahead of Gox!

Bounce starting, being led by Stamp???

The next 24 hours are critical!
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Miz4r
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November 20, 2013, 10:27:37 AM
 #322

Stamp is being stamped right now lol.

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November 20, 2013, 10:30:50 AM
 #323

Scary? It looks like the point will meet at $400 - ergo it shouldn't dip below that.

It's not an exact science, there is no guarantee it will stop at $400. And bullish pattern or not a drop from $900 to $400 is fucking scary.

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November 20, 2013, 10:58:20 AM
 #324

Stamp is goxin
pera
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November 20, 2013, 11:03:06 AM
 #325

lol are you serious? falling wedge pattern doesn't make sense in forex/bitcoin

edit: oh and btw we already broke the bottom line at $453 in gox Tongue

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November 20, 2013, 11:06:07 AM
 #326

lol are you serious? falling wedge pattern doesn't make sense in forex/bitcoin

edit: oh and btw we already broke the bottom line at $453 in gox Tongue

And this was on low volume, the most is yet to come.

Sometimes, if it looks too bullish, it's actually bearish
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November 20, 2013, 11:38:15 AM
 #327

lol are you serious? falling wedge pattern doesn't make sense in forex/bitcoin

edit: oh and btw we already broke the bottom line at $453 in gox Tongue

What bottom line?

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November 20, 2013, 11:49:47 AM
 #328

LOL, I woke up, saw the falling wedge/pennant on my trading view, posted on the wall observer, and then come here to see MasterLuc posted this hours ago, haha.
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November 20, 2013, 11:58:23 AM
 #329

lol are you serious? falling wedge pattern doesn't make sense in forex/bitcoin

edit: oh and btw we already broke the bottom line at $453 in gox Tongue
Bitcoin has done falling wedges in the past regardless how how much sense it might or might not make.
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November 20, 2013, 12:40:11 PM
 #330

The problem I see about using the falling wedge pattern here is that MtGox is not the only Bitcoin exchange.. you are taking something from a 1D / mono-platform stock market to use it in something similar to a forex market. Basically what I want to say is: other exchanges don't share the same shape, so I believe this specific pattern is not being "correctly" used in this case.

and you may see any pattern anywhere if you try hard enough Wink

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November 20, 2013, 12:45:31 PM
 #331

The problem I see about using the falling wedge pattern here is that MtGox is not the only Bitcoin exchange.. you are taking something from a 1D / mono-platform stock market to use it in something similar to a forex market. Basically what I want to say is: other exchanges don't share the same shape, so I believe this specific pattern is not being "correctly" used in this case.

and you may see any pattern anywhere if you try hard enough Wink
All very valid points. Bitcoin is funny though and seems to do its own thing with a combo of all kinds of markets. There have been plenty of times though in which patterns on one exchange (namely gox) appear but don't appear as perfectly on the other exchanges. Yet the gox pattern triggers the rest eventually. I suppose we can see how this plays out!  Cheesy
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November 20, 2013, 12:54:45 PM
 #332

The problem I see about using the falling wedge pattern here is that MtGox is not the only Bitcoin exchange.. you are taking something from a 1D / mono-platform stock market to use it in something similar to a forex market. Basically what I want to say is: other exchanges don't share the same shape, so I believe this specific pattern is not being "correctly" used in this case.

and you may see any pattern anywhere if you try hard enough Wink

MtGox leads bitstamp and btce , those who have eyes glued on charts knows that..

How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
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November 20, 2013, 12:56:15 PM
 #333

But this time everything was triggered by BTCChina right? at least their volume is extraordinary in comparison with MtGox...

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November 20, 2013, 12:57:54 PM
 #334

Gox hasn't seen the volume I expected, maybe it's yet to come. But it seems Gox and China trigger each other.

Sometimes, if it looks too bullish, it's actually bearish
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November 20, 2013, 01:00:42 PM
 #335

China futures are at Y3089 and falling.

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November 20, 2013, 01:26:40 PM
 #336

 Lucif's Crystal Ball near perfect prediction once again
gizmoh
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November 20, 2013, 02:00:49 PM
 #337

False break out? No volume!!

How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
NamelessOne
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November 20, 2013, 02:16:17 PM
 #338

False break out? No volume!!
No real breakout, there was kind of a mini wedge within this larger wedge that shot up into the 500s, but we are still within the larger wedge.
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November 20, 2013, 02:30:05 PM
 #339

We have a spike out of the wedge... will it continue?
JustAnotherSheep
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November 20, 2013, 03:11:34 PM
 #340

noob question but couldn't the wedge be redrawn like so:



making this not a breakout?

Is it a bull? Is it a bear? No, it's just another sheep.
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