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Author Topic: Previous high $260 to be tested by Saturday ?  (Read 2372 times)
qwerty555
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November 06, 2013, 05:07:23 PM
 #21

Ok so we got the new ATH which currently is showing 272.52. Tissues to all those that need them.

Last trade Mt gox as I post $260

Futures off the highs at $260 as well.

When futures and trades are approx the same this indicates reduction in price pressure so  Consolidation or retracement SHORT TERM is the question to be answered.

How do we decide  which is most likely?


a) Volumes
Big 3 137K    China 135K so china volumes are flat while Big3 volumes have doubled since yesterday  .Indicates consolidation /range bound prices in China..price pressure building in the rest of the world

b) pricing bid /ask

Big2   Bid 254-258   Btc-E  246         Ask  254-260.2   Btc-E  247.3  

conclusion  slight upward pressure  range bound pricing Big 2  250-270

china   Bid 262-265    Ask 263-266

Conclusion ..consolidation  range bound 262-270

These refer to short term  ( 2-4 days)

What about medium term 1-3 months +

Harder to evaluate but certainly will push upward eventually a possible (arguably ) indicator is elliot wave theory

zazuli has a chart posted yesterday at the bottom of this link that shows a possible $500 price by xmas

http://www.rugatu.com/questions/19230/elliott-wave-analysis-and-forecast-for-bitcoin-dollar-btcusd-price-history

Of all the wave charts out there these are the ones that most closely match my own and where I took a position last APRIL that long term by Oct 2014 I would have a price target of $400

This Chart was posted 8 days ago

https://www.tradingview.com/v/vIGjP5kR/


This was posted 22hours ago

https://www.tradingview.com/v/EGGBOeOJ/












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qwerty555
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November 06, 2013, 05:11:35 PM
 #22

Have some fun with this link if you have not seen it before

Enter YOUR assumptions and see what the price could be Smiley

http://techcrunch.com/2013/06/02/calculating-the-long-term-value-of-a-bitcoin/

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