rpietila Wall Observer - the Quality TA Thread ;)

[Dotto]

I'd like to take a moment to remind everyone that the future is not written in stone and we are not all destined to be the super mega wealthy elite for doing nothing.

Study, invert and holding risks is not doing nothing. I don´t take for sure we will be megarich, well, probably Risto will be megarich, thought

I will be just... plain rich

Don´t take it so serious, Tera, it´s only money

[1714777669]

1714777669

[Biodom]

I'd like to take a moment to remind everyone that the future is not written in stone and we are not all destined to be the super mega wealthy elite for doing nothing.

I am not doing nothing. I use bitcoin and I mine=produce bitcoins for you guys to use and speculate on  

[pinksheep]

I'd like to take a moment to remind everyone that the future is not written in stone and we are not all destined to be the super mega wealthy elite for doing nothing.

Study, invert and holding risks is not doing nothing. I don´t take for sure we will be megarich, well, probably Risto will be megarich, thought

I will be just... plain rich

I'll be quite happy with moderately rich.... rich enough to build the house of my dreams.

[nioc]

I'd like to take a moment to remind everyone that the future is not written in stone and we are not all destined to be the super mega wealthy elite for doing nothing.

I think what people here are trying to say is that yes the future isn't written in stone, it is written in btc.

[DoomDumas]

Hi all..

Thank you rpietila for tha high quality TA.. very appreciated.

Im very bullish but not as bullish as 300k/btc..

I bet on 4k/btc before q2 2015.. but like each year..for the last four years.. btc tenfolded more than my most optimistic year to year previsions.  So.. even if I have hard time beleive it.. I guess 10k is really probable before q2 2015..

That was my 2 satoshis..

[BitDreams]

After learning about the Three Drivers Pattern I've plotted to better stay within the rules. https://www.tradingview.com/v/ki1IKkbD/

[SlipperySlope]

Interesting that now Huboi is leading Bitstamp upwards today. BitcoinWisdom lists Bitstamp at $642 and Huobi at $651.66/4070.08. This rally has been very strong ever since the breakout from the months long downtrend. Here is the Huobi 3-day resolution chart . . .

[seleme]

That breakout chart looks crazy. Those green candles look like penis in erection phase 

[F-bernanke]

That breakout chart looks crazy. Those green candles look like penis in erection phase 

Haha, I would say "overextended" but when you take a look at the november rally, Bitcoin don't care.
one more 3day green bar in this rally?

[MahaRamana]

That breakout chart looks crazy. Those green candles look like penis in erection phase 

Haha, I would say "overextended" but when you take a look at the november rally, Bitcoin don't care.
one more 3day green bar in this rally?

Why only one more ? Is it really going to rest before the 1000 resistance ?

[kehtolo]

If it tests 1000 it wont stop there.. it will push on and re-test the ATH.. when it smashes through that, watch out.

[TERA]

$1,000 is likely to be a very brief consolidation like $200 was

[Dotto]

Today I have seen a beautiful, beautiful house near the sea. It was for sale.

Suddenly I have realised that in a pretty probable future we could... bougth houses for cents of bitcoin! ohlalalala!!

[Dotto]

How does one traslate it in TA terms?

[MahaRamana]

$1,000 is likely to be a very brief consolidation like $200 was

My hypothesis is that we will fail the first attempt at 1000 USD, rebounding strongly and falling back to 800. People will be calling the end of the rally and that's when it will actually start. From 800 to 5000.

 

[molecular]

I'd like to take a moment to remind everyone that the future is not written in stone and we are not all destined to be the super mega wealthy elite for doing nothing.

Bear anxiety lol......

I'll never understand people like these. Who pays them to be haters?

Dude, he has a point.

[molecular]

I'd like to take a moment to remind everyone that the future is not written in stone and we are not all destined to be the super mega wealthy elite for doing nothing.

there is nothing wrong with hoping you will live on bitcoin for the rest of your live. I would be fully availible for the cause: I would spread anarchism and try to code/help with projects. Try to increase adoption, etc.

Actually: not that I live it myself (I make up all kinds of excuses), but if everyone who thinks like this does it (the full availability thing) now instead of when XBT reaches a certain exchange rate or whatever, we'd probably get there with higher certainty and faster.

[wachtwoord]

That breakout chart looks crazy. Those green candles look like penis in erection phase 

Haha, I would say "overextended" but when you take a look at the november rally, Bitcoin don't care.
one more 3day green bar in this rally?

Why only one more ? Is it really going to rest before the 1000 resistance ?

So around now it's going to drop to ~75$ of what it is? (That's what happened after 7 green 3d candles at the the rally of the end of last year)

[EFS]

Everybody who use Bitcoin now is doing something.

[molecular]

That breakout chart looks crazy. Those green candles look like penis in erection phase 

Haha, I would say "overextended" but when you take a look at the november rally, Bitcoin don't care.
one more 3day green bar in this rally?

Why only one more ? Is it really going to rest before the 1000 resistance ?

To be honest I think it is going to rest. In fact I think we'll pause (go roughly sideways or even down slightly) around $800 for a couple of weeks once we've reached that price level, which might take us a while, too (less than current speed is quite possible and I wouldn't mind).

On what grounds?

Well, firstly: we've had a lot of traffic around $800 during January, pretty much the whole month of January, in fact. That needs to be worked off before we can go higher substantially. Some people who bought there will get out and transfer their coins to new buyers... takes time.

And secondly: the similarity to the April bubble aftermath. $800 is similar to the $130 level we meandered about in September '13 for a good month. How is it similar when clearly 130 is 50% of 266 whereas 800 is 68% of 1162 (notice the fib levels?). Well, after we've found a post-crash bottom on July 6th at around $60, we pretty much rallied for 2 months. I think the $380 low corresponds to that bottom. The bulls are getting increasingly relieved and the bears are closing (or are forced to close) their shorts and are getting back on board. Also increasingly (due to the rally itself), fresh blood starts to rush in (but not as hard as it will after we've started making new all-time-highs again, of course). As to why $800 and not $700? See my first point.

It's just a possible interpretation, but I think it's much more likely than simply shooting through $1000 and beyond in one go.