I'm starting to see a pattern here....

[ElectricMucus]

That's how it looks today.



looks strangely familiar to this one...

[mobodick]

looks strangely familiar to this one...

No it doesn't.

[ElectricMucus]

The timeframes are the same, the duration of the sell-offs and rallys slightly off.


The only real difference is the longer, stronger sell-off which resulted in a more stable rally. The end result seems to be the same.

[mjcmurfy]

There are only so many ways the rate can fluctuate within a particular range.

[ElectricMucus]

There are only so many ways the rate can fluctuate within a particular range.

Yeah, but what else can we do to estimate what the future rate will be based on something that happened and see if it could explain what's happening today?
I see no other option as drawing straight lines obviously doesn't work.

[SlaveInDebt]

Yes. It takes exactly 12 days for people to get their food-stamp money transferred into the exchanges.

7 days if you have an EBT card 

[YoYa]

Me too....

It always seems to be going up or down at a diagonal going left to right.....and it does it alot!

Hmmmmm.....I think I've found the basis of my new uppy downy theory, will fit nicely with my knifey spoony game theory.

[ElectricMucus]

Srsly do you really think the rally trend channel isn't yet been broken out of?

[S3052]

The more critical trendline is the long term uptrend line which currently runs around 4 $ (EDIT: it is already getting closer to 4.5 - 5.0 $ since the trendline is rising). This one needs to be broken from the underside now before BTCUSD can see further upside.

[BTCurious]

looks strangely familiar to this one...

No it doesn't.

[gewure]

looks strangely familiar to this one...

No it doesn't.

[notme]

looks strangely familiar to this one...

No it doesn't.

[proudhon]

The more critical trendline is the long term uptrend line which currently runs around 4 $ (EDIT: it is already getting closer to 4.5 - 5.0 $ since the trendline is rising). This one needs to be broken from the underside now before BTCUSD can see further upside.

How much does the lower trendline of the longterm up-channel increase by per day?  I mean, it seems pretty obvious to me that there's really no good chance of regaining that channel again, but certainly after a few more weeks, if that channel is not regained, it will be practically impossible.

[ElectricMucus]

I think long term the fundamentals are very important, and they are, quite frankly different now.

The various scams & scandals have severely weakened bitcoin and it has to recover from these wounds. You could argue that this has no effect on the practical use of bitcoin, but the public cares about these things very much.

I am waiting for the first major business to report a growth rate in bitcoin sales, then I'll become bullish again

[cypherdoc]

I think long term the fundamentals are very important, and they are, quite frankly different now.

The various scams & scandals have severely weakened bitcoin and it has to recover from these wounds. You could argue that this has no effect on the practical use of bitcoin, but the public cares about these things very much.

I am waiting for the first major business to report a growth rate in bitcoin sales, then I'll become bullish again

meanwhile the price rises slowly w/o you.

[ElectricMucus]

I think long term the fundamentals are very important, and they are, quite frankly different now.

The various scams & scandals have severely weakened bitcoin and it has to recover from these wounds. You could argue that this has no effect on the practical use of bitcoin, but the public cares about these things very much.

I am waiting for the first major business to report a growth rate in bitcoin sales, then I'll become bullish again

meanwhile the price rises slowly w/o you.

I don't really care about that. If someone wants bitcoins more than me he can have them I can always profit from volatility.
Of course just holding them would be way cooler, and I think the time will come again where this isn't that risky but for me that time hasn't come yet.

So thanks for taking the risk for me

[mobodick]

The more critical trendline is the long term uptrend line which currently runs around 4 $ (EDIT: it is already getting closer to 4.5 - 5.0 $ since the trendline is rising). This one needs to be broken from the underside now before BTCUSD can see further upside.

So you are basicly saying that it needs to go a little higher before it can go a lot higher.
Genius!

[Elwar]

They are both white with red and green rectangles going up and down and black lettering...

I agree. Quite similar.

[ElectricMucus]

Sarcasm is to easy to be useful - I've read that somewhere, like it?

[cypherdoc]

I think long term the fundamentals are very important, and they are, quite frankly different now.

The various scams & scandals have severely weakened bitcoin and it has to recover from these wounds. You could argue that this has no effect on the practical use of bitcoin, but the public cares about these things very much.

I am waiting for the first major business to report a growth rate in bitcoin sales, then I'll become bullish again

meanwhile the price rises slowly w/o you.

I don't really care about that. If someone wants bitcoins more than me he can have them I can always profit from volatility.
Of course just holding them would be way cooler, and I think the time will come again where this isn't that risky but for me that time hasn't come yet.

So thanks for taking the risk for me

you don't enter markets when there is low risk, you enter when there is opportunity for reward.