Analysis

[gotmilk_]

so everybody closed some nice longs by now?

Opened mine again at 336€ on that last dip  

Market is going crazy 

[infofront]

My plan kind of went out the window when we blasted through $360. My only plan now is to hold on tight.

[masterluc]

Hello guys, I must admit I know nothing about Bitcoin   Mu most optimistic thoughts were 360 (in one shot).

Okay, trying to learn from scratch.

year vwap +3 (!!!)



Escape log trend - log here is only relevant.

[ssmc2]

We can all agree that we're out of the horizontal channel though, right Luc?   

[masterluc]

Volatility obviously returns, oh yeah. This was promised on 280 "nice shoot up" 

[ssmc2]

Good times 

[koryu]

is it time to draw fibonacci from 152 to 1163?

/e or maybe analysis ends here?

[flyer88]

Ist too late to step in again now, right? Cant move upward forever that fast..

 

[masterluc]

is it time to draw fibonacci from 152 to 1163?

/e or maybe analysis ends here?

Yes, I do it regularry. Don't scare people coz path to 38.2% is one shot 

[koryu]

talking about that one, how important is 368?

[masterluc]

talking about that one, how important is 368?

Usually it should be a resistance but because of triangle appex year ago.

[podyx]

Isn't the 100% supposed to be at the top and the 0% at the bottom?

Like this:

[BitcoinNewsMagazine]

Combine the Fibonacci extensions with koryu's chart above if we do have the gas to get to $500, good level to take some profits. I would think it uncommon for price to advance past 2.618 extension without a correction:

[masterluc]

Gonna visit UDO concert tonight and get some wisdom  He will tell me whats right Happy trading!

[koryu]

Isn't the 100% supposed to be at the top and the 0% at the bottom?

I think if you are measuring a uptrend the bottom is 100% and the top 0%. it's always chasing 0% in the direction of the trend.

[uki]

Isn't the 100% supposed to be at the top and the 0% at the bottom?

Like this:

-snip-

thanks for that chart. Both yours and the one in the post below suggest that around $390 there should be a significant resistance.
That is very much in line with my feeling about the current price. The pace of the growth in the recent two days is simply unsustainable and a correction is due.
There are no news or fundamental reasons to justify it.
From TA's point of view now even Steve Wonder can see that we are out of the horizontal channel. The question is where the correction would put us, whether we come back below $300 (back to horizontal channel) or we establish new side range $320-350.

[JustAnotherSheep]

Isn't the 100% supposed to be at the top and the 0% at the bottom?

Like this:

Technically it doesn't matter, but yes it makes more sense to draw it that way as you are measuring the retracement to the larger trend down, starting from bottom.

Also speaking of fibs



China touching on a potential 100% corrective ratio and resistance line.

[thefiniteidea]

This is too fast to be sustainable for an all time high situation. We are going to back off after $425-$430, IMO.

[Vahnt]

This is too fast to be sustainable for an all time high situation. We are going to back off after $425-$430, IMO.

Logical, but price went from low 200's to 1100 in the span of only November of 2013. That's $800 gain in a month. So far it's seemed any corrections following meteoric rises are merely short-term before continuing to rocket upwards, so any correction we see at 425 I would not expect to be the end, merely a minor setback and chance to accumulate before the next phase upwards.

[DiamondCardz]

This is too fast to be sustainable for an all time high situation. We are going to back off after $425-$430, IMO.

Perhaps we could see an all-time high, but this is definitely unsustainable unless the growth starts to slow down very quickly and I'm unsure if that is going to happen. I'm worried that we're walking right into another bubble and that a lot of people are going to see themselves get burnt.

Still. It's nice that I made a nice chunk of change over the past week.