zimmah
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Activity: 1106
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June 06, 2014, 04:33:54 PM |
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Support line still holding strong, indicating a 1.85% increase per day if it stays at the lower band. At the current price that's about $12 per day  |
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zimmah
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Activity: 1106
Merit: 1005
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June 06, 2014, 04:39:57 PM |
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Here is my take:  watcha thinking about it? pretty bearish, there's more red than green in the picture. On the other hand it may mean more green will come to balance the red. |
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Bitcoin_is_here_to_stay
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June 06, 2014, 05:00:19 PM |
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As others said, volatility would be enough to take as below $640 - where we were yesterday, btw - so difficult to imagine why some people think it is impossible  As to drop towards $600, here is one chart explaining this possibility https://www.tradingview.com/v/q3nV14D3/That's a lot of divergence to clear, that's for sure Thing is we have been seeing bearish divergences at peaks/ during a lot of these consolidation periods in this rally, and yet, bitcoin keeps rising. Yeah, I did some research and are leaning to see these divergences as bullish now. |
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windjc
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Activity: 2156
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June 06, 2014, 06:00:23 PM |
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Sigh. 2011 just won't die. I guess fundamentals don't matter. It has to go back to 340 and below. There is no other choice. Sigh. |
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boumalo
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Activity: 1904
Merit: 1018
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June 06, 2014, 07:37:59 PM |
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Support line still holding strong, indicating a 1.85% increase per day if it stays at the lower band. At the current price that's about $12 per day Having 10BTC means you could get 3600USD per month potentially tax free  |
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zimmah
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Activity: 1106
Merit: 1005
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June 06, 2014, 07:42:08 PM |
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Support line still holding strong, indicating a 1.85% increase per day if it stays at the lower band. At the current price that's about $12 per day Having 10BTC means you could get 3600USD per month potentially tax free sadly, it has been broken just now, I hope it will recover but it's not looking good at the moment. |
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CEG5952
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June 06, 2014, 08:41:15 PM |
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Support line still holding strong, indicating a 1.85% increase per day if it stays at the lower band. At the current price that's about $12 per day Having 10BTC means you could get 3600USD per month potentially tax free sadly, it has been broken just now, I hope it will recover but it's not looking good at the moment. Interesting. You were the one who said it would not go below $645 a couple days ago, right? Have you revised that opinion?  |
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zimmah
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June 06, 2014, 08:49:29 PM |
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Support line still holding strong, indicating a 1.85% increase per day if it stays at the lower band. At the current price that's about $12 per day Having 10BTC means you could get 3600USD per month potentially tax free sadly, it has been broken just now, I hope it will recover but it's not looking good at the moment. Interesting. You were the one who said it would not go below $645 a couple days ago, right? Have you revised that opinion? it hasn't gone below $645 yet though. Although now that it did break the support line it is slightly more likely to fall back to $630. |
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CEG5952
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June 06, 2014, 09:00:20 PM |
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it hasn't gone below $645 yet though. Although now that it did break the support line it is slightly more likely to fall back to $630.
I agree. I am watching for a local bottom around the $630 level. There is fib confluence there with this short term triangle bottom. This could be a good base for a leg up past $700, IMO.  |
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zimmah
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June 06, 2014, 10:28:04 PM |
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it hasn't gone below $645 yet though. Although now that it did break the support line it is slightly more likely to fall back to $630.
I agree. I am watching for a local bottom around the $630 level. There is fib confluence there with this short term triangle bottom. This could be a good base for a leg up past $700, IMO. plausible, let's hope so |
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RyNinDaCleM
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Legen -wait for it- dary
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June 06, 2014, 11:09:34 PM |
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Sigh. 2011 just won't die. I guess fundamentals don't matter. It has to go back to 340 and below. There is no other choice. Sigh. Don't worry! That's not a valid count anyway. gizmoh, Y MUST end beyond the end of W unless Y is a triangle. Your (Y) = B is not valid. I can see the rise since $339 as an ABC, but not a wxy.  |
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Dalmar
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June 06, 2014, 11:33:09 PM |
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Sigh. 2011 just won't die. I guess fundamentals don't matter. It has to go back to 340 and below. There is no other choice.
Sigh.
DanV doesn't follow bitcoin fundamentals. He believes news is misleading for the most part and he can get all the fundamentals from the charts. |
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RyNinDaCleM
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Activity: 2408
Merit: 1009
Legen -wait for it- dary
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June 06, 2014, 11:37:25 PM |
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Sigh. 2011 just won't die. I guess fundamentals don't matter. It has to go back to 340 and below. There is no other choice.
Sigh.
DanV doesn't follow bitcoin news/fundamentals. He believes news is misleading for the most part and he can get all the fundamentals from the charts. Is that a DanV chart? If so, I thought he would've known the rules  Also, if so, Sorry to gizmoh for grilling ya  |
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Bitcoin_is_here_to_stay
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June 07, 2014, 12:40:53 AM |
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Sigh. 2011 just won't die. I guess fundamentals don't matter. It has to go back to 340 and below. There is no other choice.
Sigh.
DanV doesn't follow bitcoin news/fundamentals. He believes news is misleading for the most part and he can get all the fundamentals from the charts. Is that a DanV chart? If so, I thought he would've known the rules Also, if so, Sorry to gizmoh for grilling ya Yeah, it is DanV's chart. Anyway, looks like head and shoulders forming - where do you guys think it will stop? |
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molecular
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June 07, 2014, 07:26:38 AM |
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I still maintain my "cup inside cup" view with good confidence.  we're at the area marked in green. I think we could go as low as 550 (but that would be stretching it quite a bit) and still have the cup & handle valid. If this holds, we should rally to the low 800s after potentially dropping to around $600 (not necessarily). |
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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T.Stuart
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June 07, 2014, 08:19:09 AM |
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Don't worry! That's not a valid count anyway. gizmoh, Y MUST end beyond the end of W unless Y is a triangle. Your (Y) = B is not valid. I can see the rise since $339 as an ABC, but not a wxy. Out of interest, can anyone give a link to a retrospective Elliot Wave analysis on the previous bubbles? |
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masterluc (OP)
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June 07, 2014, 09:59:58 AM |
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Triangle 4th appeared since my last post
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cbeast
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Let's talk governance, lipstick, and pigs.
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June 07, 2014, 10:18:07 AM |
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We're stuck between Rule of Thirds. (633+666)/2=649.5 Greed will pump it out. There will be a breakout to 700 soon. Barring fud or a huge dump, we should climb to 733 then magic 777.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Dalmar
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June 07, 2014, 11:32:30 AM |
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Out of interest, can anyone give a link to a retrospective Elliot Wave analysis on the previous bubbles?
Here's a 'big picture' EW analysis using Mt.Gox + Bitstamp price data:  |
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ONE | |
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