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Author Topic: It's called a correction (waveaddict's bitcoin charting subscription thread)  (Read 91180 times)
waveaddict
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March 19, 2012, 10:50:54 PM
 #801

The 38.2% Fibonacci retracement off this sharp move from $5.26 to the first bottom of $4.84 was around $5. So the likely retrace to 5 after 4.84 was probably a wave 4 meaning that we are currently in a terminal 5 which will likely bottom us out in the 4.6 - 4.75 range before we head up in a meaningful correction.

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M4v3R
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March 19, 2012, 10:52:12 PM
 #802

The 38.2% Fibonacci retracement off this sharp move from $5.26 to the first bottom of $4.84 was around $5. So the likely retrace to 5 after 4.84 was probably a wave 4 meaning that we are currently in a terminal 5 which will likely bottom us out in the 4.6 - 4.75 range before we head up in a meaningful correction higher.

Actually, it hit 4.58.

Edit: And 4.53 as we speak.
Edit 2: According to Bitcoinica's Open Interest chart, 7k from that move down were forced liquidations. The rest was just panic selling, then panic buying.
pirateat40
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March 19, 2012, 11:00:16 PM
 #803

The 38.2% Fibonacci retracement off this sharp move from $5.26 to the first bottom of $4.84 was around $5. So the likely retrace to 5 after 4.84 was probably a wave 4 meaning that we are currently in a terminal 5 which will likely bottom us out in the 4.6 - 4.75 range before we head up in a meaningful correction.

Where do you see the price in 1 hour?

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March 19, 2012, 11:07:43 PM
 #804

This correction filled all my buy orders at $4.61.  I am hoping we see $5 again before tomorrow evening.

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unthy
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March 19, 2012, 11:09:52 PM
 #805

The 38.2% Fibonacci retracement off this sharp move from $5.26 to the first bottom of $4.84 was around $5. So the likely retrace to 5 after 4.84 was probably a wave 4 meaning that we are currently in a terminal 5 which will likely bottom us out in the 4.6 - 4.75 range before we head up in a meaningful correction.

Where do you see the price in 1 hour?

$7

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
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March 19, 2012, 11:12:28 PM
 #806

$7
I think it would be hard to reverse this momentum

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March 19, 2012, 11:13:46 PM
 #807

$7
I think it would be hard to reverse this momentum



<sarcasm>$7</sarcasm>

better?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
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March 19, 2012, 11:15:14 PM
 #808

yep :beer:
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March 19, 2012, 11:16:12 PM
 #809

I think it would be hard to reverse this momentum

I think it would be hard to maintain this momentum.

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unthy
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March 19, 2012, 11:16:43 PM
 #810

$4.90 in an hour
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March 19, 2012, 11:18:51 PM
 #811

leverage up now since everyone got liquidated

Bitcoinica still has not given me 50% of my claim of 600 BTC
INTERSANGO can go down with bitcoinica for abandoning customers
Alberto Armandi is a SCAMMER
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March 19, 2012, 11:19:32 PM
 #812

At 4.6 I was feeling a strong urge to sell...

I'm like, OMG what should I do?



So I panicked... and hit the buy button! Cheesy
waveaddict
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March 19, 2012, 11:28:48 PM
 #813

The 38.2% Fibonacci retracement off this sharp move from $5.26 to the first bottom of $4.84 was around $5. So the likely retrace to 5 after 4.84 was probably a wave 4 meaning that we are currently in a terminal 5 which will likely bottom us out in the 4.6 - 4.75 range before we head up in a meaningful correction.

Where do you see the price in 1 hour?

let's just say that going vertical in one direction is not going to be sustainable for very long.

Hunterbunter
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March 19, 2012, 11:30:42 PM
 #814

The 38.2% Fibonacci retracement off this sharp move from $5.26 to the first bottom of $4.84 was around $5. So the likely retrace to 5 after 4.84 was probably a wave 4 meaning that we are currently in a terminal 5 which will likely bottom us out in the 4.6 - 4.75 range before we head up in a meaningful correction.

Where do you see the price in 1 hour?

let's just say that going vertical in one direction is not going to be sustainable for very long.

That's true...it's pretty rare to see drops/rises greater than 50c all within an hour.
pirateat40
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March 19, 2012, 11:30:51 PM
 #815

let's just say that going vertical in one direction is not going to be sustainable for very long.

Oh yea...

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March 19, 2012, 11:37:16 PM
 #816

According to simple 1-2-3-4-5 wave I expect the bottom of current short-term anti-rally at ~4.4 (4.4 is a massive support)

WWLS?
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March 19, 2012, 11:45:42 PM
 #817



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This is my drunked prediction! :::beer:::
waveaddict
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March 19, 2012, 11:48:47 PM
 #818



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Sorry guys, drunked a bit, could make mistakes :::beer:::

you are forgetting about the many waves off the 5.45 top

pent
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March 19, 2012, 11:55:34 PM
 #819

you are forgetting about the many waves off the 5.45 top
Not a competitor to you ))

just watching a game, having a bud Smiley wassup Smiley

Btw, daily MACD is about to intersect downside.
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March 20, 2012, 12:08:10 AM
 #820

MACD crossed, also, daily 10-21 EMAs are about to get crossed. I guess we could see more downside soon.
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