Analysis

[wpalczynski]

Insider trading is alive and well in the wild west of Bitcoin...

Possible path to compromise: https://www.reddit.com/r/Bitcoin/comments/4vtuxo/bitfinex_security_breach_trading_will_be_halted/d61yf5q

[Wind_FURY]

Long term bullish picture looks good. Need wait until december.

I like these arcs so far. However need some more downside...

This is nice if it will happen as plotted in that chart. But usually that is not the case. We often see that the unexpected happens that's a lot of traders lose money in trading and investing. If the hack did not happen how would you plot the chart and would have foresaw the massive drop happening? I believe the answer will be a "no". Staying below $600 until the end of the year is a possibility here. I wonder how that will look like in the chart.

[windjc]

Long term bullish picture looks good. Need wait until december.

I like these arcs so far. However need some more downside...

This is nice if it will happen as plotted in that chart. But usually that is not the case. We often see that the unexpected happens that's a lot of traders lose money in trading and investing. If the hack did not happen how would you plot the chart and would have foresaw the massive drop happening? I believe the answer will be a "no". Staying below $600 until the end of the year is a possibility here. I wonder how that will look like in the chart.

Your post makes no sense. He predicted the fall. If the hack had not occurred the price would have still fallen just much slower. All this did was speed things up.

[hdbuck]

However need some more downside...

Of course we do!

[Kramerc]

Long term bullish picture looks good. Need wait until december.

I like these arcs so far. However need some more downside...

Masterluc, how are you counting your green i? I can't see 5 waves that adhere to the EW rules in there. Either that, or green ii goes below the start of green i, which makes it invalid?

This is my count, a bit more bullish medium to long-term, less bullish in the very long-term.

[Afrikoin]

from David Alcindor

https://www.tradingview.com/chart/BTCUSD/r0mRcVxF-Resistance-At-Geo-s-Rule-2-Bears-Eye-170-70-bitcoin-BTC/

https://twitter.com/4xForecaster

[aminorex]

nah, ain't gonna happen.  too much resistance at 430-440 level.

[smoothie]

Long term bullish picture looks good. Need wait until december.

I like these arcs so far. However need some more downside...

Is exactly what I've been drawing for a couple days now....GIANT HEAD AND SHOULDERS PATTERN.

Not sure if the "more downside" is needed to validate such a pattern though.

But who knows...perhaps there needs to be more people shaken out of the market before the bull can continue on.

[smoothie]

from David Alcindor

https://www.tradingview.com/chart/BTCUSD/r0mRcVxF-Resistance-At-Geo-s-Rule-2-Bears-Eye-170-70-bitcoin-BTC/

https://twitter.com/4xForecaster

What basis is there to predict a head and shoulders pattern (bearish one) at this point and on a shorter time frame?

Whomever made this chart is likely speaking too soon to determine such a pattern. Wait 2-4 months first.

[smoothie]

Long term bullish picture looks good. Need wait until december.

I like these arcs so far. However need some more downside...

Masterluc, how are you counting your green i? I can't see 5 waves that adhere to the EW rules in there. Either that, or green ii goes below the start of green i, which makes it invalid?

This is my count, a bit more bullish medium to long-term, less bullish in the very long-term.

The previous MTGOX data might help if it were added in here to attain your points from a larger time frame.

[Kramerc]

Blue I stands for the 32$ peak, so the following II stands for the 2$ bottom since I don't have the Gox data superimposed on the chart. It'll do like this.

Master, if you would be so kind to offer your opinion regarding my questions?

[masterluc]

This is my count, a bit more bullish medium to long-term, less bullish in the very long-term.

4th wave - always a triangle in bitcoin
tripple zigzag - should be a wedge

Regarding 4th, price now in 4th wave since 778 high (by my count), so it should be a triangle, so there should be a nice bounce somewhere to 700.

[sandiman]

This is my count, a bit more bullish medium to long-term, less bullish in the very long-term.

4th wave - always a triangle in bitcoin
tripple zigzag - should be a wedge

Regarding 4th, price now in 4th wave since 778 high (by my count), so it should be a triangle, so there should be a nice bounce somewhere to 700.

Do you mean bitcoin is going to play the legendary ping pong game again ? 

[humble_tryer]

4th wave - always a triangle in bitcoin
tripple zigzag - should be a wedge

Regarding 4th, price now in 4th wave since 778 high (by my count), so it should be a triangle, so there should be a nice bounce somewhere to 700.

do i understand right that now we move up to 700?
if so then i'm confused as a bit earlier you said that some more downside was needed.

[masterluc]

technically 1st triangle zigzag complete, it may be in rebounce process now.

Do you mean bitcoin is going to play the legendary ping pong game again ? 

yes, i think so.

[masterluc]

Got steemit account.

https://steemit.com/@mluc

[Wexlike]

Got steemit account.

https://steemit.com/@mluc

Wow, that's a long time for the next leg up.

[hdbuck]

for teh lazy:

[wpalczynski]

The purchasing of bitcoins in Venezuela is taking off like crazy, look at the chart in the link below:
http://themerkle.com/venezuela-experiences-a-surge-in-bitcoin-volume/

The whole KimDotCom filesharing service based on BTC micropayments will hopefully drive adoption and price.

I'm hopeful that the future is somewhat brighter than that chart suggests.

What do you guys think about the potential impact of those two things on the price short to mid term?

[hdbuck]

The purchasing of bitcoins in Venezuela is taking off like crazy, look at the chart in the link below:
http://themerkle.com/venezuela-experiences-a-surge-in-bitcoin-volume/

venezuela as a whole could not buy enough bitcoins to make it even with the pile of shit they have been burried in thx to vulture banksters and socialism.

The whole KimDotCom filesharing service based on BTC micropayments will hopefully drive adoption and price.

i'm calling bullshit on that one.

I'm hopeful that the future is somewhat brighter than that chart suggests.

not quite, this is healthy world take over, altho a bit fast so consider yourself lucky.

What do you guys think about the potential impact of those two things on the price short to mid term?

mid term is global fear uncertainty and doubt... ergo bullshit.. ergo profit.