Right now - The single most important Breakout

[TERA]

Actually this is the one that I'm watching.  You shouldn't use linear scale for bitcoin TA.

[TERA]

[chessnut]

Actually this is the one that I'm watching.  You shouldn't use linear scale for bitcoin TA.

.....why not use both. the stamp wedge is flat as a pancake on linear scale.

[TERA]

Actually this is the one that I'm watching.  You shouldn't use linear scale for bitcoin TA.

.....why not use both. the stamp wedge is flat as a pancake on linear scale.

A linear wedge is geometrically bound to break inevitably. A triangle is finite. That doesn't mean a reversal is guaranteed by that time. A logarithmic scale, on the other hand, is infinite and allows you to observe exponential decay.

[chessnut]

There are slightly better coordinates to use for that wedge. It's quite exact.

if it hits 3280 before 3200 then that could be a bullish wedge forming. passing 3200 first would mean rejection short term. bearish.

[serenitys]

Charts notwithstanding, what is it you're accounting for in the opinions it'll go back up and by how much?

Thanks.

[chessnut]

Charts notwithstanding, what is it you're accounting for in the opinions it'll go back up and by how much?

Thanks.

who, me? I have accounted for bull and bear situation. why might it go back up? because we are near fresh highs and haven't had a substantial reaction yet. how is the chart 'not withstanding' and how do you expect me to account for a $10 move that hasn't happened yet?

[serenitys]

It wasn't an attack question. I see these charts all over the place but not sure how to read them or what conditions are being used or considered to make these various predictions.

I was asking, aside from the charts themselves, what are you (as in people generally, not anyone in particular) using as a basis to determine your predictions.

Trying to learn is all.

ETA - I joined the forum about the 29th I think and the price of btc had been about 450-490. I watched through the drop to 339 and now it's up to 515. What was the price range average for most of March?

[TERA]

Most people's logic here is that as soon the price stops trending down, the next stop is ATH, because is that is what has mostly happened in the past.

[chessnut]

It wasn't an attack question. I see these charts all over the place but not sure how to read them or what conditions are being used or considered to make these various predictions.

I was asking, aside from the charts themselves, what are you (as in people generally, not anyone in particular) using as a basis to determine your predictions.

Trying to learn is all.

al good   wasnt an attack answer either. but from a TA perspective, tough questions!

.... what we have here is a wedge. a force moves the market into new territory, and then price is range bound between beginning and end extremes while liquidity and volatility disappear as it consolidates. it forms a triangle shape we call a wedge. when the liquidity dries up, the market has to move one way or another (where the next bidder bids), and by rule of thumb we say it will go in the direction of the trend.

I am using fundamentals to justify that we are in an up trend now. therefore I seek to buy on dips and breakouts.

[chessnut]

Most people's logic here is that as soon the price stops trending down, the next stop is ATH, because is that is what has mostly happened in the past.

the technology is a phenomena..... this is not weak logic. a sequence of 5 is the best correlation a technical analyst could ever hope for, and the fundamentals are expanding exponentially. how can you expect after 5 years that this is just gonna have a break year? bitcoin has never grown at such a rate as it is growing now fundamentally.

[hellscabane]

When I look at these charts, I still have it that BTC price needs to break an upper limit before I think we'll be seeing an upward trend. If it hits around ~600 in the next day or two, then it might be the start of another strong rally (although, I think this rally will be significantly prolonged in both growth speed and how long the "top" will last for compared to others in the past).

That said, I don't know where all of the funds to support another rally will come from at this particular moment.

[chessnut]

dhomsdad, wrong. TA, EW and risk management all have fundamental explanation. If you dont know the explanations, then that is why you are wrong. If you think I am trading without fundamental analysis and strategic fundamental goals, then you are very wrong.

[YipYip]

dhomsdad, wrong. TA, EW and risk management all have fundamental explanation. If you dont know the explanations, then that is why you are wrong. If you think I am trading without fundamental analysis and strategic fundamental goals, then you are very wrong.

Agreed ... My bullish outlook 2 weeks ago was not one based on the charts alone as to put it mildly

If it was a horse you would have shot it ...

Bitcoin is a movement not a commodity or currency and to use a rather over used word we are starting to mainstream

Personally one of the biggest fundamental GOOD news was the collapse of Gox ...This for me was a defining moment of where we have moved from Amatuer into a new qauntum step of maturity

Look at all of teh VC $$ going into bitcoin ..As a seasoned developer there are sooo many applications for bitcoin it boggles the mind

THIS IS WHY I AM "ALL IN" 

[serenitys]

 a force moves the market into new territory

Such as?

(no star wars jokes please! I'm even trying to refrain from it myself   )

I did keep an eye on the china/15th deal and asked a few times in several places I totally forgot to watch whether it would be a reasonable possibility that china's restrictions on the btc exchanges were less real and more just a tactic to drive the price down so they could rack up, then it'd go back up - but have no clue if anyone ever answered those.

I figure you mean "market forces" but if so, I'm not clear on what that entails or consists of.

As for forum propaganda and gloom and doom, I see that easily and don't take that into consideration much because I know "the market" isn't this forum. I still feel that the price will go up in a couple months - to a more substantial level from here - because of the Google Glass official release with that app, and several other companies setting up for bitcoin which will be a foundation for getting bitcoin into the mainstream. I absolutely feel that btc will go mainstream in the next 2 years and would escalate in value in that respect but have no idea how the *price* increase is measured into that. Any help clarifying how that works would be greatly appreciated if anyone wants to tackle that one!

[TERA]

Huobi is the new Mtgox. We're still not past the point of a centralized high volume exchange with shady operations and manipulation serving as market leader with the rest of the exchanges as slaves.

[YipYip]

Huobi is the new Mtgox. We're still not past the point of a centralized high volume exchange with shady operations and manipulation serving as market leader with the rest of the exchanges as slaves.

Will this ever happen ?? ... FOREX has the same problems with shady operators

Its human nature and I dont think there is a fix unless u regulate ... Then one side effect of this is that we are stuck with special interest groups rigging the game

[TERA]

Huobi is the new Mtgox. We're still not past the point of a centralized high volume exchange with shady operations and manipulation serving as market leader with the rest of the exchanges as slaves.

Will this ever happen ?? ... FOREX has the same problems with shady operators

Its human nature and I dont think there is a fix unless u regulate ... Then one side effect of this is that we are stuck with special interest groups rigging the game

I just don't think you can say we've moved on from mtgox when now we have something even worse.

[Newfeeling]

Last 3 hrs we climbed about $30. This means $10 per hour. So in the next 24 hrs, we go 760. After that, 1000. 1240. By Saturday we're looking at 1500 at least.

Thats toooo aggressive ..but i like your thinking

Take a Valium ...if we get 50 per day that will be good

Cue Cosmofly predictions

My quantum physical kantian formulas have calculated a 99.99% chance that bitcoin price will either rise or fall. My cousin with cerebral palsy who is very good at visual basic proves this and has predicted no more than a 1% margin of error. You will see!

P.S. all 1000 of wives are hawt. Best investment of my money evar.

http://collider.com/wp-content/uploads/cosmopolis-poster2-441x600.jpg

End transmission of Cosmofly predictions

[YipYip]

Last 3 hrs we climbed about $30. This means $10 per hour. So in the next 24 hrs, we go 760. After that, 1000. 1240. By Saturday we're looking at 1500 at least.

Thats toooo aggressive ..but i like your thinking

Take a Valium ...if we get 50 per day that will be good

Cue Cosmofly predictions

My quantum physical kantian formulas have calculated a 99.99% chance that bitcoin price will either rise or fall. My cousin with cerebral palsy who is very good at visual basic proves this and has predicted no more than a 1% margin of error. You will see!

P.S. all 1000 of wives are hawt. Best investment of my money evar.



End transmission of Cosmofly predictions

<CosmoTard>

I will be right all the time  (margin of error of 50% of the time)

<CosmoTard>