Possible Resistance at $650 area

[chessnut]

This wave B? you say it like you know it. C wave terminated, sorry. you cant just put a WXY on everything you dont understand like DanV.

With due respect, you are the one with the track record of attaching letters to everything you don't understand in those past few months....and being proven brutally wrong.

Here is the TA which I am operating from for the time being:

https://bitcointalk.org/index.php?topic=499968.msg6990905#msg6990905

If I am wrong, then we must be in the midst of a Wave 3. Yet if $595 was the top of Wave 3, then that leaves Wave 1 both steeper and also longer than wave 3. Of course, Wave 3 may well not yet be completed. We could easily have just completed a minor Wave 1, of a Wave (3), and be in the midst of a minor Wave 2. Only time will tell if this turns out to be the case, etc etc.....

.....But for me, there seems to be a far more convincing case that we are in a corrective wave. The legs up have been incredibly sharp, followed by relatively long and sprawling down trends, and the up legs have more closely resembled Zig-Zags other than impulse moves. Don't say they haven't, cos they have! We also seem to be forming a leading diagonal formation as I demonstrate in my chart. If this progresses then you can write off a Primary Wave 1 or Wave 3 altogether. If the leading diagonal unfolds, we are either in a Wave 4, or a Primary Wave B scenario.

By the way, I have learned not to be baited by those who have differing opinions to mine, into becoming emotionally or even aggressively attached to my own viewpoint for the simple reason that such reactions are likely to serve as self-harming. I have a different viewpoint to yours and you seem to be responding to it like a granny with her knickers in a twist. Unless you have the market sway to ensure that your analysis becomes the reality (you don't), I suggest you give yourself a checkover.

I see what you did there, you present to me so much bullshit at once, and such a sheer variety that I actually cannot be bothered. Dont be so arrogant, you sound like DanV when I assumed my long at 430 a couple of weeks ago, calling me emotionally attached LOL. My track record is fucking great.
http://www.don-lindsay-archive.org/skeptic/arguments.html

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[JimboToronto]

blah blah blah

Dont be so arrogant

That's like asking a skunk not to stink. 

[serenitys]

Can someone explain in rational terms why there'd be any resistance to the price going up? I'd think if anyone invested in bitcoin they'd want the price going up...so why resist? Are people just being dicks? Or are they really stupid?

What am I missing?

some people don't like holding bags. they bought in thinking we'd go right up; instead we went down and scared the crap out of them. if we get near their buy-in price, and they fear that the down trending price movement will continue, then they bail. this is one reason why pivot points and moving averages are used to predict resistance.

Got it. Thank you kindly.

So to those who are "resisting" knock it off already, it's over $600 now...chillax   

[segeln]

I do not see any real and strong resistance in this upward trend. All possible resistance Points in Dezember 2013 or in 2013 are made by extraordinary circumstances and don`t represent "normal" market behaviour.

The first resistance I see is 1000 $,a psychological barrier.

Next is ~ 1.290 $,the goldprice /$ parity,also psychological.

But when the bull run goes wild,no barrier will be efficient.
Interesting times ahead!

[Siegfried]

I see firm resistance at the 667.42 area.

[trackermut]

I do not see any real and strong resistance in this upward trend. All possible resistance Points in December 2013 or in 2013 are made by extraordinary circumstances and don`t represent "normal" market behavior.

The first resistance I see is 1000 $,a psychological barrier.

Next is ~ 1.290 $,the gold price /$ parity,also psychological.

But when the bull run goes wild,no barrier will be efficient.
Interesting times ahead!

With you on this one, would normally trade  ( i don't trade bitcoin, miner and hoarder ) to charts but Willy report if correct throws uncertainty into charts, unclear how many genuine traders are locked in at higher prices add in reversal of negative news flow over same period. Look at psychological  barriers 750, 1000 and December 2013 price. After that can see your point regarding Digital portable spendable gold, Resistance points and charts will play a part in trading but not until we leave the wild west and bitcoin trading matures with regulation.

[RyanMilligan1]

I need to stop coming in this sub-forum. You cant see resistance, you can educatedly make a guess due to previous history and charts but one little real life event could make or break BTC overnight.


At the end of the day we are all 'experts', and its impossible for us all to be right.

[spazzdla]

$640,, DUN DUN DUNNNNNNNNNNNN

[Hyena]

so did the 650 resistance got broken?

[Parazyd]

Oh yeah!

[zimmah]

so did the 650 resistance got broken?

it seems like it wasn't even there in the first place.

[K128kevin2]

Seems like we sailed past $650 very quickly and easily

[trackermut]

I see firm resistance at the 667.42 area.

Hands up you called it, nice one.

[natewelt]

I've been expecting strong resistance in the 680-720 range for a couple days now. However, it can't seem to even hold 680. This leads me to believe that 720 might not be that strong of resistance and that the real resistance zone is 680-700. Therefore, I'm expecting a nice move if we can break the psychological 700 barrier.

[maker88]

I've been expecting strong resistance in the 680-720 range for a couple days now. However, it can't seem to even hold 680. This leads me to believe that 720 might not be that strong of resistance and that the real resistance zone is 680-700. Therefore, I'm expecting a nice move if we can break the psychological 700 barrier.

i agree 680 is the line too break, 700 will likely come quickly after that and i bet we will go off from there

[natewelt]

I feel like we are so so close to another breakout. We've been hanging around 670 for about 6 hours now.

[serenitys]

Haha I woke up and saw this




Stop resisting...you know you want it 

[Bitcoin_is_here_to_stay]

The charts gives us some good reason to anticipate resistance at the $650 level.  http://www.signalstrengthfinance.com/bitcoin_charts_5_24_2014/

Great call we ahead of time 

[spazzdla]

Aye this was a good call however, resistance is futile.