Analysis

[masterluc]

I said, its a quite risky bullish scenario.

The long term log trendline resides now at around 290 and falling



The current bullish escape channel and progress is here. But be warned - it looks like bearish wedge so far (but may blow up and form 2nd green channel). I'd keep stop order for bullish position right below bottom green line.



Also I dont like continous hidden bearish divergences

[BitcoinNewsMagazine]

masterluc how do you feel about DanV analysis calling for completion of eight wave cycle at $90 - $110?

[masterluc]

masterluc how do you feel about DanV analysis calling for completion of eight wave cycle at $90 - $110?

The empty space down to bottom long term log trend line suggests some shit like this may happen.

[realdos]

I said, its a quite risky bullish scenario.

The long term log trendline resides now at around 290 and falling



The current bullish escape channel and progress is here. But be warned - it looks like bearish wedge so far (but may blow up and form 2nd green channel). I'd keep stop order for bullish position right below bottom green line.



Also I dont like continous hidden bearish divergences

Did the plummet to 232.22 just hit your stop order?

[masterluc]

definately

[realdos]

definately

Guess what we could do now is just sit and wait until we've better idea of how it is going to develop?

[Bicmac1973]

Hehe, I am a noob trader. I was on the road and once back home I found my stop order triggered, too. I started to feel bad, but now I know that I am in very good society. On the other hand I have lost 25% of my balance in the last 2 weeks. I think I should feel bad anyways.
Nonetheless, thanks to masterluc. Without his predictions (besides chessnut, Ryn, Tzupy etc.) I would never had an opportunity to earn the money I have lost now in the first place.

TL:DR: I am drunken and I love you all.

[realdos]

Hehe, I am a noob trader. I was on the road and once back home I found my stop order triggered, too. I started to feel bad, but now I know that I am in very good society. On the other hand I have lost 25% of my balance in the last 2 weeks. I think I should feel bad anyways.
Nonetheless, thanks to masterluc. Without his predictions (besides chessnut, Ryn, Tzupy etc.) I would never had an opportunity to earn the money I have lost now in the first place.

TL:DR: I am drunken and I love you all.

Stop may not be a good tool in Bitcoin world..

[masterluc]

TL:DR: I am drunken and I love you all.

Dont even think to trade when drunk. Hands off trading terminal.

However I bought a car and appartments due such traders 

[masterluc]

So looks like wedge is triggering

[madmat]

TL:DR: I am drunken and I love you all.

Dont even think to trade when drunk. Hands off trading terminal.

However I bought a car and appartments due such traders 

We need bad traders and drunk traders so we could take their money.

[Fatman3001]

TL:DR: I am drunken and I love you all.

Dont even think to trade when drunk. Hands off trading terminal.

However I bought a car and appartments due such traders 

We need bad traders and drunk traders so we could take their money.

And if they can't afford liquor any more then they will trade themselves back again. It's the circle of life.

[boumalo]

masterluc how do you feel about DanV analysis calling for completion of eight wave cycle at $90 - $110?

The empty space down to bottom long term log trend line suggests some shit like this may happen.

I think the price of Bitcoin is related to macro but in a very specific and a bit disguised way. When the Dollar will plunge and the market will understand the US&EU financial crisis never stopped, we will experiment surging prices in Bitcoin.

[realdos]

So looks like wedge is triggering

Is the wedge going to be the resistance line and is a plummet coming?

[Okurkabinladin]

Seems like silence before storm. Volume of this "growth" has been quite weak so far. I´d love to hear opinion of local elders, though.

[Afrikoin]

Seems like silence before storm. Volume of this "growth" has been quite weak so far. I´d love to hear opinion of local elders, though.

not an elder.

Up.

[spud21]

Seems like silence before storm. Volume of this "growth" has been quite weak so far. I´d love to hear opinion of local elders, though.

not an elder.

Up.

DanV says "no clarity yet despite all the finger stabbing spikes". I know he's not a local elder, but he's fairly well respected among the chart guys. I don't think anyone's really sure about what the short term movements are going to be.

[masterluc]

Found weekly sma200 (195 bars actually, close to maturity). And this line is what price hit last 5 months. If it break down - imagine resistance it will become  

[realdos]

Found weekly sma200 (195 bars actually, close to maturity). And this line is what price hit last 5 months. If it break down - imagine resistance it will become  

Are you expecting a break-down is possible or coming soon?

[masterluc]

That sma is a great outstanding support so far. Hope it will be for next years.

However technicians of gold and euro (us dollar generally) suggest dollar will probably rally soon. This makes me unsure will this support survive or not.