Analysis

[thefiniteidea]

$380-$400 is easily in range at the moment. Sub $300 within the next 12 months is likely.

Unless there's a QE 4, lets just say I'm sitting out for a while.

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[masterluc]

I think here may be a local bounce off this -1 line



Also, triangle break behaviour acts like that

[masterluc]

And probably most bearish case - triangle, flag or pennant

[masterluc]

btce 

[h3speros]

Bitcoin is on one step from long dramatic selloff imho.

Global stocks are about to crash. This monopoly game is almost over and all money and property will be returned back to the box.

Doom and gloom, baby. Doom and gloom.

The problem with predictions like that is they're almost impossible to falsify... "dramatic selloff" implies a real crash. A new capitulation low. Say, going back to $300, maybe even lower.

Or maybe not. Let's say price is going down another leg, hitting $500, maybe even high $400s. The prediction will "sound" right as well afterwards, or at least some will claim it does (while I would hardly call it "dramatic").

Same for the stock markets. "About to crash", or "entering a longer bear market"? The two are not the same, but a vague enough statement can afterwards be claimed to have "predicted" it.

Good kings all around. Luc has been prescient several times before and we should give him props for that.

In addition, it doesn't take a rocker scientist to suggest stocks are way overbought. And it's entirely possible that if the stock market goes down I a big way that bitcoin could too - although there is no real historical precedent got this.

However, we also should consider, reading over Lucs most recent posts, that there is a certain amount of regional stress he is currently over involving where he resides. This may be causing him to have a less than well rounded and objective view of the current world financial markets.

It seems like doom and bloomers have been around forever and they, for several reasons, will always be.

These are my thoughts also about the case of lucs recent post. But I disagree on one thing, It's rocket scientist, not rocker.

Have to take back this nonsense, sry master, you nailed it.

[masterluc]

I see some bullish development on indicators with probability about 30% of reversal to $580-$620 zone in of 1-3 weeks.



More details on confirmation.

I am very cautious with this assertion.

[mustang77]

I agree with poster above.I think we will see a slow consolidation for the rest of the year towards ATH.

[oda.krell]

Question, luc: do you think this is a relevant (bullish) div on daily? (never mind the input = hl2. works with input = close as well.)

[masterluc]

Question, luc: do you think this is a relevant (bullish) div on daily? (never mind the input = hl2. works with input = close as well.)

It looks like hidden bullish divergence.

But I don't see confirmation on other oscillators - primary macd. MACD usually shows much accurate divs.

And current formation still looks like a bear flag/pennant.

My version of fall to at least 380 is still has high odds.

[ssmc2]

Question, luc: do you think this is a relevant (bullish) div on daily? (never mind the input = hl2. works with input = close as well.)

It looks like hidden bullish divergence.

But I don't see confirmation on other oscillators - primary macd. MACD usually shows much accurate divs.

And current formation still looks like a bear flag/pennant.

My version of fall to at least 380 is still has high odds.

And if we see a reversal to the 580-620 zone you mentioned then those odds significantly decrease, correct?

[masterluc]

If price will stay above 560 (weekly 20 sma) for two weeks I will turn bullish.

[Schickeria]

I like your thread. Best TA thread here, excellent quality.

You should publish your btc address for small donations.

Edit: have you just now edited your signature or is it that I'm blind? 

[masterluc]

I don't make paid subscriptions because me (and 5 family members) live completely on incomes from bitcoin trading for two years and don't need mindfuck with another job and another responsibility.

Last time I posted whisky fund in sig there were pennies )) But if ppl want to thanks - I don't mind. Here is it 1Kdv2NzkEpeAm9xBbuAT8YH6Qbg7NhuJXG

I swear, The Great World Freedom, Democracy and Justice will not forget your contribution  

[oda.krell]

Tip sent.

Posts from you and chodpaba got me interested in TA in the first place. The occasional tip is the least I can do.

[masterluc]

Great thanks! There is no fate but what we make for ourselves.

[BitDollars]

long time lurker, 1st time tipper

[masterluc]

Next stop. 70% probability.



Under this scenario I see high odds of what I said earlier. Domino reaction, long painful decline within months.

[Schickeria]

Next stop. 70% probability.

It would match exactly with this:

Quite likely there is an intersection in support (former April low + trendline)

[masterluc]

Gold... Is probably poised to plunge down to $1000

[myself]

Gold... Is probably poised to plunge down to $1000

ABOUT DAMN FUCKING TIME been waiting like 2 years for that