Fother Mucker (OP)
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June 16, 2014, 06:26:22 PM |
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I've used the RSI to see if we can expect a new bubble. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. Just before the last bubbles we had a rise of the RSI above 80 and directly after that we had a drop. After this drop comes the bubble. I'm expecting a top of about $3800 to $4000 because of the symmetrical triangles. Price target of a symmetrical triangle: the widest distance of the symmetrical triangle can be measured and applied to the breakout point http://i57.tinypic.com/5vvdbc.png |
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"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
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Taras
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Please do not PM me loan requests!
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June 16, 2014, 06:28:58 PM |
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I sure hope so, OP. Meanwhile I will be telling everyone I know about bitcoin, and everyone reading this should too.
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bitcoinsrus
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June 16, 2014, 06:29:42 PM |
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Great chart and extrapolation.
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Mythul
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June 16, 2014, 06:47:10 PM |
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I really hope so. To the moon guys !
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byronbb
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HODL OR DIE
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June 16, 2014, 06:49:40 PM |
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I've seen this 4k next bubble prediction from a couple of different sources. TTM
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Essex343
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June 16, 2014, 07:16:26 PM |
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While I see something here, RSI alone is not nearly enough to indicate this. I am skeptical of all these predictions of another bubble right away.
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Wandererfromthenorth
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June 16, 2014, 07:22:03 PM |
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Aside from the peak target (don't know if it's gonna be that high), i absolutely agree with you OP.
Bear market -> Trend reversal -> pre-bubble crash -> new ATH and beyond.
It's probably gonna take a while though.
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criptix
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June 16, 2014, 07:30:07 PM |
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can someone explain what the chances are that we will see a new ath in mid/late july?
and also why we would not see a new ath :p
rsi alone, i doubt its enough :8
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Fother Mucker (OP)
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June 16, 2014, 07:58:55 PM |
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It is not only the RSI, it is also the symmetrical triangle. The triangle is used in forex trading and gives you an indication of continuation. Continuation means a new bubble in this graph. It also gives you a target of the new top. The top may be less or even more. It is only a target.
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BTCfan1
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June 16, 2014, 08:14:36 PM |
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*fingers crossed*
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blatchcorn
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June 16, 2014, 08:24:12 PM |
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No chart for me. But I am praying that you are right!
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cbeast
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Let's talk governance, lipstick, and pigs.
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June 16, 2014, 08:29:38 PM |
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 Alert: China Ban detected. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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ArbatDeli
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June 16, 2014, 08:30:16 PM |
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I hope we see a new bubble soon. I bought most of my coins > $800. Would love to be in profit.  |
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bananaControl
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Activity: 322
Merit: 250
Decentralize All The Things!
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June 16, 2014, 08:35:07 PM |
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I hope we see a new bubble soon. I bought most of my coins > $800. Would love to be in profit. Then why didn't you buy in at the dips to 450? If I may ask... I bought in all the way down, so my average is about 620. |
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gentlemand
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Welt Am Draht
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June 16, 2014, 08:36:38 PM |
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Not everyone is a trading champ and I guess many folks bought in a one time chunk.
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Scott J
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Merit: 1000
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June 16, 2014, 08:38:14 PM |
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I hope we see a new bubble soon. I bought most of my coins > $800. Would love to be in profit. Then why didn't you buy in at the dips to 450? If I may ask... I bought in all the way down, so my average is about 620. He may have used up all of his available funds. What you suggest is a good strategy otherwise. |
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bananaControl
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Activity: 322
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Decentralize All The Things!
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June 16, 2014, 08:40:18 PM |
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I hope we see a new bubble soon. I bought most of my coins > $800. Would love to be in profit. Then why didn't you buy in at the dips to 450? If I may ask... I bought in all the way down, so my average is about 620. He may have used up all of his available funds. What you suggest is a good strategy otherwise. Only if it doesn't continue to go down  |
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JerryCurlzzz
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June 16, 2014, 08:42:04 PM |
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I hope we see a new bubble soon. I bought most of my coins > $800. Would love to be in profit. Then why didn't you buy in at the dips to 450? If I may ask... I bought in all the way down, so my average is about 620. He may have used up all of his available funds. What you suggest is a good strategy otherwise. Only if it doesn't continue to go down I used to be scared when it dropped that it would just keep dropping. But that NEVER happens. HODL, y'all. |
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Scott J
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Activity: 1792
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June 16, 2014, 08:44:48 PM |
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I hope we see a new bubble soon. I bought most of my coins > $800. Would love to be in profit. Then why didn't you buy in at the dips to 450? If I may ask... I bought in all the way down, so my average is about 620. He may have used up all of his available funds. What you suggest is a good strategy otherwise. Only if it doesn't continue to go down Good point! Obviously you would have to be fairly certain of its long term hopes  |
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cbeast
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Activity: 1736
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Let's talk governance, lipstick, and pigs.
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June 16, 2014, 08:46:15 PM |
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I hope we see a new bubble soon. I bought most of my coins > $800. Would love to be in profit. Then why didn't you buy in at the dips to 450? If I may ask... I bought in all the way down, so my average is about 620. Weren't you one of the bears suggesting to wait until the 200s to buy? |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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