Analysis

[DieJohnny]

oct nov 2013, what was different that said the top was $1000 away??? Today the top is $350, I don't get it, please help me out?

[dmwardjr]

oct nov 2013, what was different that said the top was $1000 away??? Today the top is $350, I don't get it, please help me out?

Once we have "continued" to blow through and well past the indicators [As in October/November 2013] I look at the news.  If there is no substantial news to support the movement of the market, it more than likely will drop like a rock soon.  However, we have had good news the past couple of months.  The biggest news being the Chinese Yuan and more Chinese become interested in bitcoin.

Since there is a lot of good news lately, it's quite possible the "trend" could change based on that news.  Which means the "rules" can change on indicators.  Meaning, we will have to wait and see where the trend takes us and go back to basics on the indicators once again after a new trend is established.

If you want to see what I mean about "news," check out this thread:  It's DEFINITELY worth a look.  Trust me...

The Everything Bullish Thread (Bullish Media Center)

https://bitcointalk.org/index.php?topic=1166428.1180

Here's a prime example of "In the news:"  Look at even the small print of the three (3) magazines front and center in this photo.

[masterluc]

Flip image Btw, it hit 2nd deviation of year vwap

[masterluc]

In a half year frame it hit position where +6 deviation was few days ago

[gotmilk_]

3d, 1d, 12h RSI is crazy high... Not sure if this can continue without correction?

[RyNinDaCleM]

3d, 1d, 12h RSI is crazy high... Not sure if this can continue without correction?

Is that a question or a comment? 
I agree! It's definitely due

[masterluc]

Okay, lets analyze situation. This picture ultimately explains current situation.

[Miz4r]

Okay, lets analyze situation. This picture ultimately explains current situation.

FOMO cat? 

[gotmilk_]

Yep, ultimately

3d, 1d, 12h RSI is crazy high... Not sure if this can continue without correction?

Is that a question or a comment? 
I agree! It's definitely due

Both Drinking beer and trying find out how irrational the market can be.

[masterluc]

No, its irrational analyzis  

[birr]

As Ziggy F once said, "Sometimes a cigar is just a cigar."

[klee]

If it breaks out again I will buy back.

Parabolic uptrend is not designed to buy in but sell into.

Scalp - it worked again.

I sell about 10$ higher.

I use only half of my fiat, I am long since 235-240 with other half. Won't sell them until I see signal in the daily...

[klee]

If it breaks out again I will buy back.

Parabolic uptrend is not designed to buy in but sell into.

Why not use a trailing stop in this case? Then if price goes crazy you can still profit, but if it starts to fall profits are protected.

Yeap - I use a stop 10% lower of the recent price peak ALWAYS. So loss is manageable. There are tools nowadays so you don't get REKT (I don't use leverage anymore anyway, especially in big volatility periods).

[molecular]

Yeap - I use a stop 10% lower of the recent price peak ALWAYS.

fueling a crash when it happens. But no worries: shorts need closing, too.

[klee]

Yeap - I use a stop 10% lower of the recent price peak ALWAYS.

fueling a crash when it happens. But no worries: shorts need closing, too.

Recent peak is 378, my stop would be at 340. Do you really think I will have much slippage there? Nope..

[zby]

Does this not look exactly like what we have been waiting for? The measure of closing outside of weekly BB is exactly about this condition - about the rally going faster than people think it could.

[Zarathustra]

Re read my post. You think you missed train, you have a greed to buy more. You have a fear to loose some btc. You have a greed and fear and you say don't have emotions now which will drive decisions?

If you lie to yourself about yourself, stay away from trading.

You ask probably where to buy back. I give you more - I tell how to control yourself. What you think now about future of price is illusion powered by greed and fear. Go rest until they gone.

I think, someone without trading skills should not trade but invest. Should an investor sell into a parabolic rise of small wave degree when we are at the beginning of historic wave 3 up? I think that would be a very bad idea.

[Ivanhoe]

That is exactly my question towards Lucifer. Isnt this current market behavior something you would expect with a wave 3? You were talking about a wave three some weeks ago.

[hdbuck]

so everybody closed some nice longs by now?

[Tzupy]